S&P 500, Nasdaq Notch Record Closes in First Half on AI Boom
The S&P 500 and Nasdaq composite recorded 24 and 20 record closes respectively in the first half of 2026, fueled by the artificial-intelligence boom that drove significant gains in chip makers supplying the infrastructure build-out.
Key Numbers
The first half of 2026 saw exceptional performance for U.S. stock indices, with the S&P 500 recording 24 record closes and the Nasdaq composite recording 20 record closes, according to a report by The Wall Street Journal. This performance was primarily driven by the artificial-intelligence boom, which fueled substantial gains in chip makers supplying the infrastructure.
Likely Causes
The main reason behind these records is the surging demand for AI technologies, which led to significant rises in chip-making stocks such as NVIDIA (NVDA) and Broadcom (AVGO). These companies are key suppliers of chips used in data centers and AI applications.
Context
During the first half, the S&P 500 recorded 24 record closes, while the Nasdaq recorded 20. This strong performance follows 2025, which also saw substantial gains in the technology sector.
Similar Moves in the Sector
Gains were not limited to NVIDIA and Broadcom; other chip stocks like AMD and TSMC also rose, reflecting a broader trend in the sector supported by AI demand.
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