The index has reached all-time highs 23 times this year, driven by $670 billion in AI infrastructure investments and strong tech earnings.
The S&P 500 extended its rally Monday, notching its 23rd record high of 2026 as it crossed 7,600 for the first time. The benchmark has averaged a new high every 19 days since its 1957 inception, with 1,328 total records reached.
A year ago, the index stood at 5,900, while five and 10 years prior it was at 4,200 and 2,100, respectively. Micron led gains this year, surging 262% and surpassing a $1 trillion market cap, now valued at $1.17 trillion.
The rally is fueled by a $670 billion AI infrastructure spending spree from hyperscalers, alongside strong earnings from Dell, Snowflake, and HPE. Nvidia’s bullish outlook further bolstered sentiment amid stabilizing macroeconomic conditions.