US Stock Market Breaks Records
- 14.05.2026, 19:10
The S&P 500 surpassed 7,500 points amid the success of AI-related companies.
U.S. stocks are rising in trading on May 14, trading data shows. Technology stocks are rising thanks to a boom in artificial intelligence amid strong reporting from Cisco Systems and IPOs of AI-related companies, notes Bloomberg.
The S&P 500 Index hit a record high, rising 0.9% to 7,509.34 points at its peak by 18:21 Moscow time. The Nasdaq 100, the main U.S. technology index, was adding 0.7% to 29,663.85 points.
Shares of Cisco soared 17.2% to $119.36 at the peak: their sharpest rise since 2011, Bloomberg points out. The networking equipment maker gave a revenue forecast better than market expectations and announced plans to cut thousands of jobs to focus on developing its artificial intelligence business. Cisco has received orders for AI infrastructure and equipment worth $5.3 billion since the beginning of 2026 and expects this figure to grow to $9 billion by the end of the fiscal year. The previous forecast assumed the volume of orders at $5 billion.
Additional interest in risky assets was given by the IPO of AI chip maker Cerebras, which raised $5.55 billion. The company placed shares at $185 - above its stated range.
Now, everything for the chip sector is built on momentum, and for many it simply means "catching the wave," according to Todd Zohn, chief exchange-traded fund strategist at Strategas Securities. The sticking point, he says, is to maintain positions when volatility rises and to understand how much exposure portfolios have to AI-related areas. Ajaya Rajadhyakshi, head of global research at Barclays, believes it is "too early" to sell shares in semiconductor manufacturers. He emphasized that "this is not the year 2000," alluding to the dot-com crash. Rajadhyakshi pointed out that companies are now making real profits, they have an order book with proven demand and a multi-year cycle of building infrastructure for AI.
Factually, AI has become the backbone of the U.S. stock market, it is no longer just supporting the growth of the S&P 500, according to Bloomberg Intelligence strategists Nathaniel Welnhofer and Christopher Kane. BI's basket of 44 AI-related companies, which account for roughly 45% of the S&P 500's capitalization, has provided the bulk of the earnings growth since 2024 and profitability expansion since 2022, the agency notes. According to Welnhofer and Kane, the rest, meanwhile, is "starting to rebound" after the sluggish results of the past two years. They expect the situation in 2026 to resemble a repeat of the 2021 profit boom, following the coronavirus pandemic.
Geopolitical developments include a meeting between Donald Trump and Xi Jinping in China, including with tech CEOs. The US president has invited the Chinese chairman to visit the White House in September. U.S. Treasury Secretary Scott Bessent said the two sides are discussing a mechanism to expedite approval of some Chinese investments and lower tariffs on a range of goods.
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