Atlassian is unlocking a new phase of growth thanks to artificial intelligence (AI), which is a key reason its stock has more than doubled since the middle of last year. However, it's still trading 33% below its all-time high set during the tech frenzy in 2021, so it's not too late for investors to consider adding it to their portfolio.

Calm returned to Wall Street, and tech stocks led U.S. indexes higher after a strong profit report from Palantir Technologies, which is benefiting from the AI boom.

Wall Street drifted higher Wednesday as gains for most stocks outweighed drops for Alphabet and some other big-name companies following their latest profit reports.