US stocks closed mixed with the S&P 500 and Nasdaq hitting record closing highs after Oracle shares surged.
In addition, a lower-than-expected producer inflation (PPI) report also supported expectations that the Federal Reserve (Fed) will cut interest rates next week.
Oracle shares jumped 36%, recording their biggest daily gain since 1992 after the technology company reported a surge in demand from artificial intelligence (AI) companies for its public services.
The company's market value reached $922 billion, surpassing Eli Lilly ($878 billion), JPMorgan Chase ($586 billion) and Walmart ($536 billion) and almost matching Tesla's $1.12 trillion.
AI chip stocks also rose with Nvidia up 3.8%, Broadcom jumping 10% and Advanced Micro Devices adding 2.4%. The PHLX chip index also rose 2.3% to a new high.
The S&P 500 index added 0.30% to 6,532.04 points, the technology-focused Nasdaq rose 0.03% to 21,886.06 points, while the Dow Jones fell 0.48% to 45,490.92 points.
Investors are now awaiting Consumer Price Index (CPI) data to be released on Thursday at 8.30pm Malaysia time (MYT) to assess the direction of US inflation.
Meanwhile, Synopsys shares fell 36%, recording the biggest daily drop in history after the chip design software provider missed Wall Street's quarterly revenue estimates.
Trading volume on the US exchange was worth $17.2 billion, compared to an average of $16.0 billion over the full 20 trading days.
