U.S. stocks closed higher on Wednesday, with the Nasdaq leading Wall Street after SpaceX reported its first profit since going public, sending its shares up 7.8%. Musk stated that a merger between SpaceX and Tesla "is a good idea," which also boosted Tesla's stock price. AI server manufacturer Super Micro Computer surged 9.6% after forecasting quarterly revenue and profit margins above Wall Street expectations, with peers HPE and Dell also rising 3.7% and 5.3% respectively. These earnings reports eased investor concerns about the sustainability of AI spending, driving the S&P 500 Information Technology Index up 1.6%. The Dow Jones Industrial Average closed up 0.7%, the S&P 500 Index rose 0.6%, and the Nasdaq Composite Index gained 1.1%. Communication services stocks performed weakly, with AT&T falling 6.5%, Netflix down 5.3%, and Alphabet dropping 1.6%.