The tech-heavy Nasdaq has continued to ride AI fervor to new record highs. Semiconductors in particular have benefitted from the AI trade of late, propelling tech stocks higher. This has occurred despite a myriad of risks to the tech trade, including relatively expensive stock prices and worries about the ability to monetize the massive AI CapEx. That's in addition to worries about inflation and other factors that market bears believe could derail the broad market.
Source: FactSet, as of May 14, 2026. Index values set at 0 beginning January 1, 2026.