U.S. stocks gained as a rosy growth projection from Nvidia mitigated fears about the sustainability of the artificial-intelligence boom.

The Dow Jones Industrial Average rose 105.56 points, or 0.20%, to 53569.44. The S&P 500 gained 55.29 points, or 0.72%, to 7730.99 and the tech-heavy Nasdaq Composite added 411.16 points, or 1.57%, to 26541.35.

The gains came despite a rise in oil futures, which added $1.30, or 1.6%, to $83.53 a barrel amid skepticism about the latest round of negotiations between Iran and Oman to reopen the Strait of Hormuz.

Oil prices have been a major driver of recent moves on the Treasury market. The yield on the 30-year bond rose 0.005 percentage point to 5.190%. The yield on the 10-year Treasury note rose 0.008 percentage point to 4.671%. Yields on U.S. Treasury seven-year notes sold at auction rose to an almost two-year high.The yield on the policy-sensitive two-year Treasury added 0.008 percentage point to 4.230%.