The Dow Jones Industrial Average rose 0.6 percent, the broad S&P 500 index rose 0.8 percent, and the tech-heavy Nasdaq Composite index rose 1.3 percent.
Nvidia, the world's most valuable publicly traded company, is scheduled to report after markets close.
The company has long been an investor darling, but recently clouds of worry have thickened as fears of an AI bubble have set in. So far this year, the stock is up 4.9 percent.
The market will be closely monitoring the report, not least for signs of when those multi-billion-dollar investments may yield returns.
Ahead of the report, Nvidia's stock closed up 1.4 percent. Companies strongly linked to AI, such as Broadcom, Salesforce and Oracle, also rose significantly.
What do you think?