Wall Street reached new record highs on Wednesday, propelled by strong corporate earnings and gains in artificial intelligence-related stocks. The S&P 500 climbed 136.02 points, or 1.8 percent, to close at 7,736.52, while the Dow Jones Industrial Average advanced 907.47 points, or 1.7 percent, to end the day at 54,085.88. The Nasdaq Composite led the gains, rising 671.10 points, or 2.6 percent, to finish at 26,584.99.

Among the notable performers was Palantir Technologies, a company focused on artificial intelligence technologies, which surged nearly 30 percent following the release of solid quarterly results. The company’s performance underscored growing investor enthusiasm for AI-driven industries.

Established industrial player Caterpillar also saw significant gains, rising 5.6 percent after reporting increased orders and activity related to the construction of AI data centers. This growth highlighted the expanding influence of AI technology across diverse sectors beyond the traditional tech space.

Analysts noted that robust earnings reports from a range of companies, together with ongoing optimism about advances in AI, contributed to the market’s upward momentum. The latest session marked another step in a strong rally that has pushed major indexes to unprecedented levels, reflecting investor confidence in corporate profitability and technological innovation.