U.S. technology stocks gained momentum after fresh developments in the artificial intelligence industry strengthened investor confidence in demand for AI infrastructure.

Super Micro Computer shares jumped 10.3% after the AI server maker forecast quarterly revenue and profit margins above Wall Street expectations, according to Reuters. The outlook signaled continued demand for the high-performance servers used to power AI applications and data centers.

The broader technology sector also received support from gains in AI-linked stocks. Shares of Hewlett Packard Enterprise and Dell Technologies rose, reflecting renewed investor interest in companies supplying computing infrastructure.

Meanwhile, SpaceX shares climbed 9.8% following developments surrounding the rocket and space technology company. The moves helped the Nasdaq lead gains among major U.S. stock indexes.

However, not every technology company benefited. Netflix shares declined after its financial outlook disappointed investors.

The latest market activity highlights how closely technology stocks are tied to expectations for AI spending. Investors are watching whether strong demand for AI servers and computing capacity can translate into sustainable revenue and profits.

For the U.S. tech industry, the next test is turning AI investment into lasting business growth.