US equity markets advanced on Thursday, with the S&P 500 and Nasdaq Composite both closing at new all-time highs as investors returned aggressively to technology and artificial intelligence-related stocks. Strong earnings momentum within enterprise software and semiconductor sectors helped reinforce optimism surrounding continued AI-driven growth across corporate America.

The rally also coincided with easing geopolitical concerns after reports suggested that US and Iranian negotiators had reached an agreement to extend a ceasefire arrangement. The combination of improving market sentiment, resilient corporate earnings, and renewed enthusiasm surrounding artificial intelligence contributed to another strong session for major US indices.

Technology Stocks Lead Wall Street Higher

The S&P 500 gained 0.58% to close at 7,563.63, while the Nasdaq Composite climbed 0.91% to 26,917.47. Both indices also reached fresh intraday record highs during the trading session. Meanwhile, the Dow Jones Industrial Average posted a more modest gain of 0.05% to finish at 50,668.97.

Technology shares once again emerged as the primary driver of market performance, reflecting continued investor confidence in companies tied to artificial intelligence infrastructure, cloud computing, and enterprise software demand. The latest rally reinforced how concentrated market leadership remains within growth-oriented technology sectors despite broader macroeconomic uncertainty.

Enterprise software and semiconductor stocks were among the strongest-performing segments during the session. Investors continued rewarding companies demonstrating direct exposure to expanding AI spending trends, particularly those positioned to benefit from rising demand for data processing, cloud services, and high-performance computing systems.

Snowflake Earnings Reignite AI Market Optimism

One of the session’s largest movers was Snowflake, whose shares surged 36.5% after the company issued stronger-than-expected fiscal second-quarter guidance and reported quarterly results that exceeded Wall Street expectations on both revenue and earnings.

The company also announced plans to spend approximately $6 billion on Amazon Web Services infrastructure over the next five years, reinforcing investor expectations that enterprise demand for AI-driven cloud and data services may continue accelerating. The earnings report significantly boosted sentiment across the broader software sector.

The iShares Expanded Tech-Software Sector ETF (IGV) advanced 2.8% during the session as investors rotated aggressively into enterprise technology names. The results highlighted how AI-related corporate spending remains one of the dominant themes supporting US equity markets in 2026.

Semiconductor and Memory Stocks Extend Gains

Semiconductor and memory-related stocks also recorded strong gains as investors expanded exposure across the broader AI supply chain. Shares of Sandisk rose 3.3%, while chipmakers Qualcomm and Advanced Micro Devices gained 4.2% and 4.6%, respectively.

The strong performance across chip and infrastructure-related companies reflected ongoing investor confidence that AI adoption will continue driving elevated demand for semiconductors, cloud computing capacity, and advanced enterprise technology solutions. Analysts have increasingly viewed AI infrastructure spending as one of the most significant long-term growth catalysts within global equity markets.

For investors in Israel and globally, the sustained rally across technology and semiconductor sectors carries broader implications for cybersecurity firms, cloud infrastructure providers, and enterprise software developers operating throughout the global innovation ecosystem. Israel’s technology sector remains closely tied to many of the long-term themes currently driving institutional capital flows into AI-related investments.

Looking ahead, investors will continue monitoring corporate earnings, AI-related capital expenditure trends, and Federal Reserve policy expectations for indications regarding whether the technology-led rally can maintain momentum. Market participants are also expected to focus on geopolitical developments, cloud infrastructure spending, and semiconductor demand trends as key drivers shaping broader equity market sentiment through the second half of the year. Elevated valuations across portions of the technology sector may also increase sensitivity to future earnings guidance and macroeconomic data releases.