The S&P 500 gained 1.2% for the week, hitting an all-time intraday high on Tuesday and closing above 7,800 for the first time. The Nasdaq added 0.6% and also closed at a record. SpaceX is seeking to raise $40 billion to buy Nvidia chips and announced the acquisition of a U.S. spectrum portfolio to strengthen its competition with wireless carriers. AI stocks were highly volatile: they fell Thursday on reports about OpenAI’s revenue, then rebounded Friday after clarification that OpenAI expects at least $70 billion in annualized revenue. Starbucks showed encouraging signs of business recovery with improving customer spending intentions.
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