Stocks rose as oil futures tumbled due to hopes of a resumption in U.S.-Iran negotiations, causing a relief rally that pushed high-risk technology stocks to record highs. The Nasdaq hit a record as AI bets surged.

Oil's slide followed reports of potential talks between U.S. and Iran, easing supply fears. The relief rally lifted high-risk tech stocks to record highs.

Investors piled into AI-related names, driving the Nasdaq to an all-time peak. The broader market also advanced.

U.S. stocks closed higher, with the Nasdaq setting a record as oil prices fell on hopes for U.S.-Iran negotiations. AI bets fueled the rally.