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Tech stocks rose Wednesday as AI CoreWeave (CRWV) and Supermicro (SMCI) earnings results appeared to confirm that the AI buildout is keeping pace.

CoreWeave stock climbed nearly 20% as it narrowed Q2 losses per share and said its sales backlog stands at $104 billion, with another $25 billion commitments already earmarked for Q3.

Supermicro, meanwhile, topped earnings projections and provided a robust Q1 outlook. Shares rose more than 16%.

Outside of earnings, jury selection begins today in a landmark social media lawsuit filed by a coalition of 29 state attorneys general against Meta in an Oakland, Calif. federal court.

The attorneys general have accused Meta of purposely designing its apps to keep users coming back through capabilities like infinite scroll. Meta has denied wrongdoing.

Opening arguments kick of Aug. 18.