Shares of Nvidia (NASDAQ: NVDA) gained ground on Wednesday, climbing as much as 5%. As of 12:42 p.m. ET, the stock was still up 4.4%. The catalyst that sent the artificial intelligence (AI) chipmaker higher was news that strong demand for its processors will likely continue.

Shares in the AI chip maker rose 5% Wednesday and was up again early Thursday as Big Tech's spending plans remained in focus.

Shares of Nvidia (NASDAQ: NVDA) suffered a double-digit decline in January, primarily due to the threat from Chinese artificial intelligence (AI) start-up DeepSeek. AI stocks plunged on Jan. 27 as investors reacted to the new chatbot DeepSeek R1 and DeepSeek's 22-page research paper that explained the engineering and technology behind the low-cost,