Stocks closed mostly higher on Wednesday as Wall Street recovered some ground from tech-led sell-off, as investors awaited earnings from Nvidia to set the tone for the next leg of

AI pioneer Nvidia was again the heaviest weight on the market. The chipmaker's drop of 3.2% brought its loss for the month to nearly 11%, putting it in "correction" territory, or when a stock falls at least 10% from its previous high. The company is scheduled to report is third-quarter financial results on Wednesday.

Nvidia reported quarterly results that handily topped Wall Street expectations, sending the stock sharply higher in after-hours trading.

Stock futures jumped following Nvidia's strong earnings report in a rebound from a four-day losing streak following Nvidia's earnings beat.

Nvidia soothed investors worried about an AI bubble with record sales and robust guidance. "AI is going everywhere," CEO Jensen Huang said.

The company also announces it is transferring the listing of its common stock to the Nasdaq stock market in December as it continues to expand its tech ambitions.

Chipmakers including Nvidia and Intel are down along with much of the stock market Tuesday, as fears of an AI bubble grow.

This is a significant adjustment, but it’s important to note that the stock was initially priced at $31 during its remarkable June IPO

The seemingly sturdy U.S. stock market has begun to wobble. Its months'-long tech-driven rally may be running out of steam amid growing wariness about the artificial intelligence boom and broader uncertainty about the U.S. economy’s outlook.