Chip stocks jump on AI optimism, Dow ends at record high

The S&P 500 gained 42.77 points, or 0.62%, to end at 6,944.82 points, while the Nasdaq Composite gained 151.35 points, or 0.65%, to 23,547.17. The Dow Jones Industrial Average rose 484.9 points, or 0.99%, to 49,462.08.