Wall Street drifts as Broadcom and other AI-related stocks support the market

NEW YORK (AP) — Wall Street is holding relatively steady Tuesday as stocks in the artificial-intelligence industry support the market, at least for now. The S P 500 rose 0.2% and pulled within 1.6% of its all-time high set earlier this month. The Dow Jones Industrial Average was down 88 points, or 0.2%, as of 10:30 a.m. Eastern time, and the Nasdaq composite was 0.6% higher. The majority of stocks within the S P 500 were falling, but gains for several influential AI-related stocks made up for that. Such stocks have been swerving for weeks on worries about whether their boom is under threat because of how expensive it’s become for companies to borrow money to build data centers and buy more AI chips. Broadcom climbed 3% after announcing a $63 billion financing deal where several Wall Street firms will help Anthropic get access to Broadcom s XPU AI accelerators and networking solutions. Elsewhere in the industry, Advanced Micro Devices rose 3.8% and was one of the strongest forces push