S&P 500 climbs to another record close Tuesday as Nvidia's market cap tops Microsoft

The S&P 500 rose to a fresh record as artificial intelligence darling Nvidia continued its march to new highs, topping Microsoft as the most valuable public company. The broad market index added 0.25% to close at 5,487.03, while the Nasdaq Composite inched up 0.03% to end at 17,862.23. The tech-heavy index also closed at a record. The Dow Jones Industrial Average rose 56.76 points, or 0.15%, to settle at 38,834.86.

5% to surpass Microsoft as the most valuable public company, and continue its milestone run after topping a $3 trillion market cap and breezing past Apple in value earlier this month. The chipmaker has surged 174% since the start of the year as enthusiasm for AI shows no signs of dwindling. Some semiconductor stocks also rose in sympathy, with Qualcomm and Taiwan Semiconductor up 2.2% and 1.4%, respectively. Micron Technology gained 3.8%.

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