US Markets Hit Record Highs Amid Weak Jobs Report, AI Stocks Surge

Major indices in the US notched their second consecutive week of gains as investors processed corporate earnings and a weak jobs report. The S&P 500 and Dow Jones both reached record highs, up 3% and 3.6%, respectively.

The AI infrastructure sector saw a strong rebound this week after facing pressure in July. The iShares Semiconductor ETF (SOXX) rose 7.6%, indicating sustained demand for AI infrastructure.

Nvidia's stock increased by 11% following SpaceX's announcement that it will build its AI infrastructure exclusively on the company's platform. This move highlights the strong demand for AI computing capabilities.