US stock futures were broadly steady on Wednesday as investors awaited Nvidia’s earnings report, widely seen as a key gauge of how sustainable current demand for artificial intelligence technology will be. In Tuesday’s regular session, the Dow Jones Industrial Average rose 0.76%, the S&P 500 gained 0.77%, and the Nasdaq Composite advanced 1.04%. The moves marked a rebound from Monday’s selloff, as worries receded that AI would quickly upend a wide range of industries.
Advanced Micro Devices was the standout performer, jumping 8.8% after Meta announced a multiyear deal to deploy 6 gigawatts of AMD graphics processing units across its AI-focused data centers. Software stocks also joined the rally: Salesforce climbed 4.1% and IBM added 2.7%, as analysts pushed back against doubts about the longevity of legacy service models.
DocuSign rose 2.6% after news that Anthropic’s Claude Cowork now integrates with its platform, bolstering the view that AI is increasingly being used to enhance, rather than displace, established enterprise software tools.
