NEW YORK (AP) — Wall Street inched to more records on Thursday as gains for Alphabet and artificial-intelligence stocks helped make up for Tesla ’s steep tumble.

The S&P 500 added 0.1% to its all-time high set the day before. The Dow Jones Industrial Average fell 316 points, or 0.7%, while the Nasdaq composite rose 0.2% to its own record.

Alphabet climbed 1% after the company behind Google and YouTube delivered a fatter profit for the latest quarter than analysts expected. It’s leaning more into artificial-intelligence technology and said it’s increasing its budget to spend on AI chips and other investments this year by $10 billion to $85 billion.

That helped push up other stocks in the AI industry, including a 1.7% rise for Nvidia. The chip company was the strongest single force

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