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 0.

By Kanchana Chakravarty and Zaheer Kachwala (Reuters) -Advanced Micro Devices shares tumbled 8% on Wednesday after the company's AI chip revenue failed to meet analysts' high expectations, underscoring its struggle to grab market share from well-entrenched market leader Nvidia.

Nvidia was gaining in Tuesday trading. The chip maker looks set to gain from the wider market relief around last-minute deals that averted the U.S. putting tariffs on goods imported from Mexico and Canada.