S&P 500 Hits Record 7,420 as AI and Tech Rally Powers U.S. Stocks
The S&P 500 reached a new all-time high of 7,420 as investor optimism around artificial intelligence and technology stocks continued driving the market higher.
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The S&P 500 reached a new all-time high of 7,420 as investor optimism around artificial intelligence and technology stocks continued driving the market higher.
Traders are increasingly positioning around the so-called ‘NACHO’ trade, betting disruptions in the Strait of Hormuz and elevated oil prices will persist longer than markets expect.
SoftBank shares jumped more than 16% as Japan’s technology-led rally pushed the Nikkei 225 to fresh record highs following the Golden Week holiday break.
Bank of America warned that potential IPOs from SpaceX and Anthropic, both valued above $1 trillion, may signal late-stage bull market conditions.
BlackRock CEO Larry Fink said growing shortages in AI infrastructure could eventually create a futures market for computing power, similar to oil or energy trading.
SpaceX plans a $55 billion semiconductor facility in Texas, with total investment potentially reaching $119 billion. The Terafab project targets AI, robotics, and data center chips.
Nvidia and Corning announced a major optical fiber partnership to expand U.S. manufacturing, aiming to meet surging demand from AI data centers.
Uber shares rose after stronger-than-expected bookings guidance offset a $1.5 billion hit to net income from equity revaluations in Q1.
Intel stock jumped 12% to a record high, driven by AI chip optimism and reports of a potential Apple partnership. The rally has also boosted the value of major institutional holdings.
South Korea’s KOSPI index surged 37% in just 34 days to a record high, driven by booming global demand for AI semiconductors. The rally added roughly $1 trillion in market value.
Elon Musk could receive a Tesla compensation package worth up to $158 billion, significantly increasing his wealth and pushing him closer to trillionaire status.
SanDisk shares reached a new record high, rising nearly 4,000% over the past year as demand for AI data center storage continues to outpace supply.
Anthropic is reportedly in talks to raise up to $50 billion at a valuation approaching $900 billion, reflecting surging demand for AI investments.
Meta will begin paying creators in stablecoins through Stripe, starting in Colombia and the Philippines, as it expands digital payment options.
SpaceX’s planned dual-class share structure will give Elon Musk dominant voting power, allowing him to retain control over key decisions, including leadership changes.