The S&P 500 and Nasdaq have hit record closing highs, as AI-fueled optimism offset anxiety over Middle East peace talks - concerns that were compounded by recent US strikes on Iran.
Semiconductor stocks, which have surged on AI-driven demand, led gains, with Micron gaining 19 per cent, hitting $US1 trillion ($A1.4 trillion) in market value for the first time after UBS increased its price target on the stock to $US1,625 from $US535 ($A2,267 from $A746).
Upbeat earnings and renewed confidence in AI trade have driven US equities higher despite the ongoing conflict with Iran, with investors now turning their attention to IPOs of some of the largest private AI companies, including SpaceX.
