U.S. equities were higher in recent trading, with the Nasdaq on track to set another record closing high.

Tesla shares gained as CEO Elon Musk said the EV maker would streamline its artificial intelligence chip efforts.

The Trade Desk shares plunged after the company warned ad spending by its biggest customers is being hurt by tariffs.

U.S. equities were higher in recent trading, with the Nasdaq on track to set another record closing high, as more companies posted solid earnings. The Dow and S&P 500 were higher as well.

Increased demand for cybersecurity products boosted revenue and led security software provider Gen Digital (GEN) to lift its outlook, sending shares higher.

Tesla (TSLA) shares also climbed. CEO Elon Musk said the electric vehicle maker would streamline its AI chip research. Bloomberg reported the company also plans to rely more on partners including Nvidia (NVDA) and Advanced Micro Devices (AMD), as its disbands its Dojo supercomputer team.

SoundHound AI (SOUN) shares soared after the maker of AI voice software set a sales record and raised its outlook as it added more customers, especially in China.

Expedia Group's (EXPE) stock also jumped after the company exceeded earnings, revenue, and gross bookings forecasts on a big boost from international sales.

The Trade Desk (TTD) stock plunged after the provider of software to help businesses run ad campaigns warned ad spending by its biggest customers is being hurt by tariffs.

Under Armour (UAA) blamed the impact of tariffs for a weak current-quarter outlook, sending shares of athletic apparel maker tumbling.

Shares of Warner Bros. Discovery (WBD) slid as the media giant’s Linear TV division posted declining earnings and revenue.

Oil futures fell, while gold futures climbed to a fresh record. The 10-year Treasury note yield gained. The U.S. dollar advanced on the euro, pound, and yen. Most major cryptocurrencies traded higher.

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