IBM projected constant currency revenue to grow 5% in the full year, above estimates for 4.81% growth. Meanwhile, the company forecasted free cash flow of $13.5 billion for the full year, above the $12.92 billion Wall Street had expected. IBM also said its generative AI book business now stands at more than $5 billion.

Investors react to the Federal Reserve's policy decision and Chairman Jerome Powell's press conference, as well as results from Meta, Microsoft and Tesla.

Palantir Technologies (NASDAQ: PLTR) was one of the hottest artificial intelligence stocks on the market last year. Ives recently raised his 12-month target price to $90 per share, citing confidence in the company's artificial intelligence strategy. Ives thinks Palantir could be the next Oracle, a software company worth $515 billion.

Dow Jones stocks edged higher in the stock market today as investors awaited Powell's remarks and earnings from three tech titans.

Follow the market action on Wednesday to see whether the post-DeepSeek rally can continue and how investors react to the Federal Reserve rate decision and results from Meta, Microsoft and Tesla loom.

The Dow Jones held up best out of major indexes on the stock market today. Nvidia plunged due to concerns of China AI firm DeepSeek.