Wall Street Surges Amid AI Optimism, Nasdaq Leads Gains

Wall Street ended on a high note on Wednesday, bolstered by technology stocks, reaching its highest level in two weeks. Investors showed renewed optimism in the burgeoning potential of artificial intelligence, putting aside earlier apprehensions about its disruptive impacts and costs.

Notably, the Nasdaq Composite, supported by robust gains in semiconductor stocks, witnessed a significant rise. Nvidia's impressive fourth-quarter earnings report, surpassing expectations with a revenue of $68.13 billion, played a pivotal role in this upward momentum, sending its shares up by approximately 3% in after-hours trading.

The overall market sentiment was buoyed by tech stocks' performance, while industrials saw the steepest declines. Key players like Axon Enterprise saw substantial profit gains, while other sectors like energy and housing faced challenges due to lower-than-expected sales forecasts.