Nvidia, Salesforce Lead Tech Stocks Higher After Strong Profit Reports

Tech stocks led Wall Street higher on Wednesday after Nvidia and several other major companies reported strong quarterly profits.

Nvidia, a leading maker of graphics processing units (GPUs) used in gaming and artificial intelligence applications, posted a net income of $1.17 billion for the quarter ended October 31, up 131% from the same period last year. The company's revenue grew 47% to $7.10 billion.

Salesforce, another tech giant, reported a quarterly profit of $693 million, a 21% increase from the previous year, on revenues of $5.91 billion. Both companies beat analysts' expectations and saw their shares rise accordingly.