US stocks were mixed on Wednesday, with the Dow Jones up 0.6%, S&P 500 down 0.3%, and Nasdaq falling over 1% as tech stocks took a hit. Investors are eyeing Alphabet and Arm Holdings results for insight on AI demand.

Pharma giant Eli Lilly’s stock surged 7% after forecasting a 20%-25% revenue growth for 2026, while Novo Nordisk expects a 5%-13% sales drop due to competition. Lilly’s market cap is now over $950 billion.

ADP reports US added only 22,000 jobs in January, falling short of expectations. Gold prices rose due to US-Iran tensions, while Eli Lilly’s stock jumped after a strong sales forecast.

Eaton Corporation’s stock price rose over 6% after reporting increased demand for AI-related products. The company’s earnings exceeded expectations, with a backlog of orders growing.

Chipotle’s stock fell 5% after reporting a 2.5% drop in Q4 same-store sales. Enphase Energy’s stock soared 20% after beating profit and revenue estimates.

Silicon Laboratories’ stock jumped 52% after Texas Instruments announced a $7.5 billion acquisition. Nvidia is reportedly close to a $20 billion investment deal with OpenAI.

Indian tech stocks plunged over workforce concerns related to Anthropic AI tools. Bloomberg reports that Nvidia is nearing the end of a $20 billion investment deal into OpenAI.

Read more at Yahoo Finance: Dow jumps, S&P 500, Nasdaq fall with AI worries in focus ahead of Google earnings