AI‑Heavy Stocks Drive S&P to Record Highs

S&P 500 hits record highs driven almost entirely by AI‑heavy “Magnificent Seven” stocks such as Nvidia, Microsoft and Broadcom.
Excluding AI leaders, the broader index would be in negative territory, with 118 S&P stocks down over 10% since late February.
Meanwhile 82 AI‑linked stocks have risen more than 10%, fueling speculation over upcoming AI IPOs like Anthropic and OpenAI.
Analysts warn the rally may be a bubble, noting high data‑center spending and limited near‑term free cash flow from AI firms.