US Stocks Rally on Tech, OpenAI Partnerships

U.S. stock indexes ticked higher Thursday, with the S&P 500, Dow and Nasdaq hitting or approaching all-time highs as technology and AI optimism buoyed markets. Technology, semiconductor and AI-related shares rallied after OpenAI announced partnerships with South Korean firms on its Stargate infrastructure project, lifting Samsung, SK Hynix, AMD, Broadcom, Nvidia and TSMC. Markets largely shrugged off a U.S. government shutdown that delayed weekly jobless claims and the upcoming monthly jobs report, creating data uncertainty even as investors hope a modest cooling in the labor market will prompt Federal Reserve rate cuts without triggering a recession. Occidental Petroleum plunged after agreeing to sell its OxyChem unit to Berkshire Hathaway for $9.7 billion. Global markets also rallied and Treasury yields were relatively steady as traders focused on corporate news and AI-driven chip demand rather than the political impasse in Washington.