AI Stocks Drive Nearly All of S&P 500’s Gains, Data Reveals

The S&P 500 has surged to fresh record highs in 2026, powering through milestone after milestone as Wall Street toasts another banner year. Strip out the artificial intelligence stocks, though, and the rally all but disappears, leaving a market that has gone essentially nowhere since February. S&P 500 ex-AI Index Flat Since February as Benchmark