US stock markets close at record highs as enthusiasm for AI drives gains

Both the S&P 500 and the tech-dominated Nasdaq set new records, with Nvidia closing above $2tn for the first time

US stock markets closed at record highs on Friday powered by investors’ continued enthusiasm for artificial intelligence (AI).

Both the S&P 500 and the tech-dominated Nasdaq set records, with the Nasdaq passing its last peak in 2021, driven higher by gains for Facebook owner Meta and Nvidia, the leading AI chipmaker.

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