The AI boom in stocks is gaining momentum

The S&P 500 posted a monthly gain of 5.2% in May, closing with a series of record highs and notching its ninth-straight weekly gain. Falling oil prices, easing interest rates, and strong earnings results drove a blistering rally in AI-related tech shares. The rally rivaled some of the frothiest moments of the late 1990s tech stock boom. The end of the Iran war appeared close, contributing to market optimism. FactSet provided the data for the analysis. The blue-chip index's performance reflects sustained momentum in AI stocks.