Tech Stocks Surge as AI Investment Fuels Wall Street Rally

Wall Street indexes hit new highs, driven by optimism in tech stocks, following President Trump's announcement of a $500 billion AI infrastructure plan. Netflix soared on strong subscriber numbers, while semiconductor shares surged on AI excitement. Meanwhile, inflation concerns persist amidst potential trade tariffs.

Wall Street experienced a significant boost on Wednesday, with the S&P 500 reaching a record high. Investors responded positively to news from Netflix and an announcement by President Donald Trump concerning a major private-sector artificial intelligence infrastructure initiative.

The technology sector led the market rally, with contributions from AI chip leader Nvidia and Microsoft, after Trump revealed a planned $500 billion investment involving Oracle, OpenAI, and SoftBank. Despite the plan's lack of funding clarity, anticipation of AI advancements fueled investor enthusiasm.

In individual performances, Procter & Gamble outperformed expectations, while Johnson & Johnson showed mixed results. Meanwhile, Ford, Textron, and Halliburton encountered setbacks. As investors remain cautious of potential tariffs on imports, analysts advise focusing on upcoming trade policy developments by April.

(With inputs from agencies.)