Strong AMD results drive gains in AI-related stocks, pushing major U.S. indexes to record closes.
The S&P 500 and Nasdaq closed at all-time highs, fueled by a surge in AI-related stocks after Advanced Micro Devices reported better-than-expected earnings. AMD’s results underscored growing demand for AI chips, lifting shares across the sector.
The S&P 500 rose 0.5% to 5,213, while the Nasdaq gained 0.8% to 16,332. Both indexes extended a months-long rally, with AI stocks leading the advance. Prior sessions had seen modest gains, but AMD’s report provided fresh momentum.
Markets reacted positively to the earnings beat, with AI-linked equities outperforming broader benchmarks. The rally reflects sustained investor confidence in AI-driven growth.