(Updates with afternoon trading)

* Intel ( INTC ) jumps after reported talks with Apple ( AAPL ) for

chipmaking

* Archer-Daniels-Midland ( ADM ) up following Q1 profit beat

* S&P +0.89%, Dow +0.62%, Nasdaq +1.10%

By Noel Randewich and Utkarsh Hathi

May 5 (Reuters) - The Nasdaq jumped to a record high on

Tuesday, lifted by Intel ( INTC ) and other AI-related stocks, as a

U.S.-Iran ceasefire held firm and investors focused on strong

quarterly earnings.

Washington said on Tuesday its ceasefire with Iran was intact,

allaying worries that attempts by both sides to assert control

over the Strait of Hormuz would escalate hostilities.

Investors focused on AI-related companies, with the

Philadelphia SE Semiconductor index jumping 4.7% to a

record high.

Chip designer AMD rallied 4.4% ahead of its

quarterly report after the bell.

Intel ( INTC ) surged 14% after Bloomberg News reported that

Apple ( AAPL ) had held exploratory discussions about enlisting

the company's chipmaking services to produce the main processors

for its devices.

EARNINGS IN FOCUS

S&P 500 companies are expected to post aggregate earnings

growth of 28% year-over-year for the first quarter, double the

expectation of 14% at the start of April, according to LSEG

I/B/E/S. Wall Street's AI heavyweights account for much of that

optimism.

"Markets are following fundamentals. Earnings are coming in

pretty strong, and the expectation is that will carry forward

into the rest of the year," said Tom Hainlin, an investment

strategist at U.S. Bank Wealth Management in Minneapolis.

"Business spending remains strong, whether it's on AI or

other productivity tools, and consumers continue to spend,"

Hainlin said.

The S&P 500 gained 0.89% to 7,264.87 and the Nasdaq

Composite jumped 1.10% to 25,342.82.

The Dow Jones Industrial Average rose 0.62% to

49,243.90 points.

With Tuesday's rally, the Nasdaq is up 9% in 2026.

Brent crude futures fell but still traded at $110 a

barrel.

Nine of the 11 main S&P 500 sector indexes rose, led by a

nearly 2% gain in materials.

Data on Tuesday showed U.S. job openings fell to 6.866

million in March, slightly above the 6.835 million estimate.

That reinforced the view that labor market resilience could give

the central bank room to keep interest rates higher for longer.

The Institute for Supply Management's

Non-Manufacturing Purchasing Managers' Index for April came in

at 53.6, narrowly missing the estimate of 53.7, according to

economists polled by Reuters.

Grain trader Archer-Daniels-Midland ( ADM ) rose 1.2% after

reporting better-than-expected first-quarter profit on higher

margins.

DuPont ( DD ) gained 7.6% after the industrial materials maker

lifted its annual profit forecast.

Shares of Pinterest ( PINS ) soared 9.3% after the image-sharing

platform forecast second-quarter revenue above analysts'

estimates.

Advancing issues outnumbered decliners by a 2.63-to-1 ratio

on the NYSE. There were 432 new highs and 77 new lows on the

NYSE.