NEW YORK (AP) — Wall Street keeps rising toward more records, and excitement about the artificial-intelligence industry keeps leading the way.
The S&P 500 added 0.4% on Monday, coming off its latest all-time high, amid a mixed day of trading. The Dow Jones Industrial Average was down 66 points, or 0.1%, with an hour remaining in trading, while the Nasdaq composite was 0.9% higher and on track to set its own record.
Advanced Micro Devices helped lead the market and soared 24.9% after announcing a deal where OpenAI will use its chips to power AI infrastructure. As part of the deal, OpenAI could own up to 160 million shares of AMD if it hits certain milestones. AMD’s stock is heading toward its best day since 2016.
A frenzy around AI has been one of the main reasons Wall Street has been hi