US stock indices held their traction on Wednesday as markets reconsidered the impact of AI disruption on the tech sector and maintained the outlook of rate cuts by the Federal Reserve. The Nasdaq 100 jumped 0.8%, while the S&P 500 added 0.5% and the Dow gained 0.2%. Rate traders continued to expect multiple cuts by the Fed this year, but minutes from the Fed's last meeting indicated that many FOMC members cautioned that disinflation may be slow and uneven. Nvidia gained 1.6% after Meta stated it would use millions of Nvidia's chips in its new data center, recovering from some softness in recent sessions amid lingering skepticism on whether AI infrastructure expenditure will result in higher revenues. In turn, Amazon and Micron gained 1.8% and 5.3%, respectively, after major asset managers announced higher positions in the companies. On the other hand, Palo Alto Networks tanked 6.8% after releasing earnings forecasts that were below expectations.