Tech heavyweight companies in the US diverged further on Thursday, as hyperscale cloud providers sank and chip producers rallied. The S&P 500 and the Nasdaq 100 were slightly higher, while gains in non-tech sectors lifted the Dow to a new record of 52,500. Micron surged 10% after beating earnings and forecasting a revenue of $50 billion in the quarter to August, above the expectations, and Qualcomm jumped 5% after doubling its projection for non-handset revenue in the next three years. On the other hand, Nvidia, Oracle, Amazon, Alphabet, and Microsoft dropped more than 2% to stretch the pivot from software companies to AI infrastructure developers. Also, Apple tanked 5% as it was forced to raise iPad and Mac prices amid rising memory costs. Softer inflationary risks supported broader sectors as energy prices continued fall and PCE price indices were within expectations. Banking shares also rose as lenders will raise their dividends after passing the Federal Reserve's stress test.