Memory chip makers Sandisk and Micron Technology surged, while Broadcom and Meta Platforms also gained.
Strong forecasts in recent weeks from companies including Microsoft and Amazon have reduced investors' concerns about massive spending on AI data centers.
"The AI earnings-driven tech boom continues," said Jay Hatfield, CEO of Infrastructure Capital Advisors in New York. "It's an earnings boom, not a bubble."
According to preliminary data, the S&P 500 gained 51.23 points, or 0.66%, to end at 7,799.73 points, while the Nasdaq Composite gained 215.02 points, or 0.81%, to 26,803.51. The Dow Jones Industrial Average rose 70.91 points, or 0.13%, to 53,833.87.
The S&P 500 is up about 14% in 2026, while the Nasdaq has gained about 15%.
Brent crude oil futures closed about 2% lower at $87.07 a barrel. Netflix climbed after billionaire investor Bill Ackman unveiled a new holding in the streaming company as part of Pershing Square's biggest portfolio overhaul in years. Tapestry shares plunged after the Coach owner forecast muted annual revenue growth. Dell Technologies and HP both gained after quarterly results from China's Lenovo beat expectations.
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