The S&P 500 notched its longest winning streak in over a year, climbing 0.1% to extend the run to nine consecutive sessions. All three major indexes closed at record highs for five straight days, the first such feat since February 2017. Fresh AI developments drove the rally as investors chased tech-focused gains amid persistent Middle East tensions and volatile oil prices.

HPE shares surged after the server maker highlighted rampant artificial intelligence demand, while Marvell Technology posted its best day ever following comments from Nvidia's Jensen Huang suggesting it could become the next $1 trillion company. AI firm Anthropic filed for its initial public offering, adding momentum to the sector. Alphabet announced plans to raise $80 billion through a stock sale, though shares dipped 3.9% on the news.

The broad market advance reflects intensifying enthusiasm for AI-related stocks, with investors pivoting away from traditional sectors. The Dow Jones Industrial Average rose 0.4%, or roughly 229 points, reaching its own record high. The Nasdaq composite added less than 0.1%. Portfolio manager Jay Hatfield noted that tech remains the sole focus, making other sectors unattractive bets. This AI-driven rally shows no signs of cooling despite geopolitical headwinds.