Alphabet's big spending plans surprised Wall Street. The news should soothe investors worried about last week's DeepSeek shakeup disrupting the AI narrative.

Nvidia was gaining early on Wednesday after Google parent Alphabet committed to spending on artificial-intelligence infrastructure and rival Advanced Micro Devices’ AI chip revenue disappointed. Nvidia shares were up 3.

Key Takeaways Nvidia and Broadcom shares surged Wednesday after Google parent Alphabet, a customer of both chipmakers, said it plans to ramp up spending on artificial intelligence. Alphabet said Tuesday that it plans to spend as much as $75 billion in capital expenditures this year,