Nvidia climbed 8.8%, with the rally gaining steam throughout the day and closing near session highs. The stock at one point shortly after the open was in the red. That bounce come

Rebounding tech stocks drove U.S. indexes higher a day after they tumbled on doubts about the artificial intelligence frenzy.

Nvidia is the gold standard and leading provider of the graphics processing units (GPUs) used to train and run AI systems. The company is believed to control as much as 98% of the data center GPU market, according to semiconductor analyst firm TechInsights. If AI models can be trained on lower-cost, inferior chips, Nvidia has a lot to lose.