The US stock market is hitting record highs even as fears of an AI bubble continue

new York – Wall Street set records on Thursday, even as a selloff in Oracle and worries about a possible bubble in artificial intelligence technology weighed on the market.

The S&P 500 gained 0.2%, surpassing its previous all-time closing high set in October. The Dow Jones Industrial jumped 646 points, or 1.3%, surpassing its own record set last month. The Nasdaq Composite lagged, slipping 0.3% on weakness in AI stocks.

It’s the latest return to records for the market after seemingly crippling worries. Among the most recent have been concerns about what the Federal Reserve will do with interest rates and whether all the dollars flowing into AI chips and data centers will lead to as high profits and productivity as advocates promise.