US stock market hits all-time high as investors bet big on AI

The benchmark S&P 500 is up 14 percent this year despite elevated oil prices and US government debt sell-off.The United States stock market has hit an all-time high as excitement around artificial intelligence continues to fuel a buying frenzy on Wall Street.The S&P 500, the benchmark stock index, closed 0.58 percent higher on Tuesday, topping the previous peak reached in mid-August.Recommended Stories list of 4 itemslist 1 of 4Christa Pike lawyers say she is speaking one week after failed executionlist 2 of 4Fans flood Buenos Aires ahead of Messi’s final international matchlist 3 of 4‘We are desperate’: Venezuela’s power cuts fuel growing public angerlist 4 of 4Electric car bursts into flames at charging station in Turkiyeend of listThe Nasdaq Composite, which is more heavily weighted towards tech stocks, also hit a record high, finishing up 0.45 percent.Tech stocks were among the top performers, with each of the “Magnificent Seven” apart from Meta closing higher.Amazon led the pack with a 1.95 percent gain, followed by Microsoft and Tesla, which rose 0.78 percent and 0.51 percent, respectively.Apple and Alphabet both rose 0.22 percent, while Nvidia gained 0.14 percent.Met...