Asian stocks are betting on the AI ​​boom to offset Gulf risks

But “gains were narrow as the 10 major AI-related companies made up 40 percent of the S&P 500 and only 21 stocks of the 500 reached record highs.” While technology stocks rose nearly 16 percent in May, the consumer discretionary and healthcare sectors barely gained more than 2 percent and consumer staples lost more than 3 percent.