The S&P 500 is up 10% year-to-date and set another all-time high yesterday. Much of that growth has come from the Magnificent 7 tech companies, which are spending heavily on AI and its associated infrastructure. That wave of spending has become so massive that it has added 0.5% to GDP growth, according to Pantheon.

S&P 500 futures are flat this morning, premarket, suggesting that investors are not in a mood to sell after the index reached yet another all-time high yesterday. The S&P was up 0.32% on the day, at 6,466.58.

A lot of that growth has come from the Magnificent 7 tech stocks.

“The S&P 500 is up 10% year-to-date, powered by the ‘Magnificent Seven’ tech giants whose foreign-heavy revenues are being boosted by the weaker dollar. Concentration in the top 10 stocks is at its highes

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