Nasdaq leads Wall Street gains as SpaceX, Super Micro boost AI sentiment

The tech-heavy Nasdaq led Wall Street to a higher close on Wednesday after quarterly results from SpaceX and Super Micro Computer improved investor appetite for artificial intelligence-related stocks, while weakness in communication services stocks capped gains. SpaceX shares finished up 7.8% after posting its first profit as a public company, and Super Micro jumped 9.6% after forecasting revenue above estimates, signaling resilient AI demand. The reports reassured investors worried about AI spending sustainability, though communication services stocks fell 1.3%, with AT&T sinking 6.5% on SpaceX competition fears. The S&P 500 Information Technology index rose 1.6%, the biggest gainer among sectors, while the Dow rose 0.69% to 52,856.09 and the S&P 500 gained 0.58% to 7,757.17. Meta and Tesla shares rose further after releasing results post-close.