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Finance

S&P 500 hits record intraday high; Nasdaq also tops as memory chip shares surge

The S&P 500 rose as high as 7,539.8 in intraday trade, setting another record, with strength led by technology shares. The Nasdaq also hit a new intraday high, while the Dow fell 216 points. Chip stocks, especially memory-related names, surged, led by Micron. Nvidia also supported gains after a price-target increase. Middle East developments, oil prices and rate expectations remained key intraday variables.

AI & Enterprise

S&P 500 AI-related stocks near 45 percent weight as megacap tech concentration raises warning sign

The weighting of artificial intelligence-related stocks in the S&P 500 has expanded to about 45 percent of market capitalisation, raising concerns that concentration in a handful of megacap technology stocks is becoming a key risk for U.S. equities. AI-linked companies already account for more than 40 percent of the index’s value. Analysts cite rising AI infrastructure spending, widening performance gaps and weaker diversification. Some warn that even a modest correction could trigger index deleveraging.