Today’s Market Recap: Nasdaq Hits Record High as Tech Rallies on AI Growth; Tesla Q1 Beats Estimates Amid Spending Surge

The Nasdaq Composite achieved a new record high, with the S&P 500 and Nasdaq seeing significant gains driven by mega-cap tech stocks, Alphabet, and semiconductor companies benefiting from AI demand. Tesla’s Q1 results showed strong revenue and earnings growth, though the company plans for substantial capital expenditures. Meanwhile, Google and OpenAI advanced AI with new chips and tools, while broader markets reacted to potential ceasefire talks between the U.S. and Iran and a political dispute over tariff refunds.

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