Wall Street parties like it’s 1998 as AI fuels gains unmatched since dot-com era

AP Business Writer

NEW YORK (AP) — The S&P 500 is on track to close 2024 with a gain of nearly 27%, after setting 50 record highs this year. That’s on top of its 24.2% spurt the year before, a spectacular two-year run unmatched since the dot-com boom. This time around, it’s not dot-com stocks boosting the market but skyrocketing prices for companies in the artificial-intelligence business