Futures higher, Nvidia surges, Boeing labor union vote - what's moving markets

1. Futures inch higher

US stock futures moved higher on Thursday, pointing to an extension in a tech-fueled rally in stocks in the prior session.

By 03:37 ET (07:37 GMT), the Dow futures contract had added 83 points or 0.2%, S&P 500 futures had ticked up by 12 points or 0.2%, and Nasdaq 100 futures had gained 56 points or 0.3%.

The main averages on Wall Street advanced on Wednesday, with the tech-heavy Nasdaq Composite in particular posting its largest daily increase in a month.

A surge in shares in artificial intelligence-darling Nvidia (NASDAQ:NVDA) (more below) bolstered big-name tech stocks and underpinned a rebound in equities following a morning sell-off in the wake of August US inflation figures.

While the data showed that headline consumer price growth had matched July's pace on a monthly basis, the "core" reading -- stripping out volatile items like food and fuel -- had accelerated slightly. The result boosted expectations that the Federal Reserve will roll out a more measured 25-basis point interest rate cut at its next policy gathering on Sept. 17-18, rather than a more aggressive 50-basis point reduction.

2. Global chipmakers rally after Nvidia surge

Global semiconductor groups rose on Thursday following the surge in shares in Nvidia.

SK Hynix (KS:000660), Hon Hai Precision Industry (TW:2317) and Advantest Corp. (TYO:6857) -- all Nvidia suppliers -- moved higher in Asian trading, as well as Japan's Tokyo Electron Ltd. (TYO:8035) and Renesas Electronics Corp . (TYO:6723). In Europe, ASM International (AS:ASMI) (AS:ASMI), ASML Holding (AS:ASML), and STMicroelectronics (EPA:STMPA) were in the green in early dealmaking.

The moves come after Nvidia's stock price surged by 8.2% on Wednesday, its biggest one-day gain in six weeks. The stock was hovering just below the flatline in extended hours trading.

3. OpenAI in talks to raise funds at $150 billion valuation - reports

OpenAI is in talks to raise funds at a valuation of $150 billion, according to news reports, potentially cementing its status as an AI stalwart and one of the world’s most valuable startups.

The company is considering raising $6.5 billion in equity financing, and is also in talks with banks over a $5 billion credit line, Bloomberg News reported, citing people close to the matter.

The $150 billion valuation is nearly twice as large as the $86 billion at which it was valued earlier this year. According to the Financial Times, venture capital firm Thrive Capital is leading the funding round, while other prospective backers include Apple (NASDAQ:AAPL), Nvidia and Microsoft (NASDAQ:MSFT).

OpenAI's popularity soared with the release of its ChatGPT bot in 2022, which helped ignite a wave of enthusiasm around the possible applications of AI.