Advanced Micro Devices beat Wall Street expectations with its third-quarter results, quelling concerns about the AI industry. Shares gained 7.7% to $520.99 in after-hours trading Tuesday.

Block posted a higher profit, thanks to increased volume in its payment services business. The stock rose 6.7% to $81.10 after the bell.

Super Micro Computer had a nearly fourfold increase in revenue in the latest quarter, thanks to AI spending. Shares climbed 10% to $34.50.

Arista Networks' revenue climbed 59%, fueled by AI demand. The stock advanced 13% to $192.63.