Wall Street extends tech-powered rally as AI; Nvidia reports

STORY: U.S. stocks ended higher on Wednesday, with the Dow gaining about six-tenths of a percent, the S&P 500 adding eight-tenths of a percent and the tech-heavy Nasdaq climbing roughly one-and-a-quarter percent.The tech-led rally came as markets near the end of a tumultuous month marked by concerns over massive AI spending and disruption among software and other companies.Brian Mulberry is chief market strategist at Zacks Investment Management.“We're seeing a little bit of a recovery in the software stocks leading the Nasdaq a little bit higher. I think we've kind of gotten to a realization that software isn't dead, and that's evidenced by a deal that was announced yesterday, Anthropic actually working directly with Microsoft, giving them 10 new plug-ins to some of their programming that Microsoft can then use in their agentic platform on the Azure cloud business.”Stocks on the move Wednesday included AI powerhouse Nvidia, whose quarterly results have become a focal point for investors. Shares of the chipmaker closed almost a percent and a half higher and climbed further in extended trading after the company forecast first-quarter revenue above market estimates.Other movers included taser-maker Axon Enterprise, which jumped more than 17% after the company beat fourth-quarter profit estimates.On the flip side, shares of GoDaddy tumbled more than 14% after the internet services provider forecast annual revenue below Wall Street expectations.