Wall Street Shocked by AI Surge: What Happened on July 24–25?
On July 24, 2025, the S&P 500 rose 0.07% to a fresh record close, its fourth consecutive such close. The Nasdaq Composite gained 0.18% to its own all-time high on July 24, 2025. The Dow Jones Industrial Average fell 0.7% on July 24, 2025. <liAlphabet (GOOGL) posted a strong Q2 beat and announced a $10 billion boost to its 2025 capital expenditure budget, now $85 billion, to expand AI chips and data centers. Alphabet’s cloud division revenue jumped about 32% in the quarter. Nvidia rose 1.7% on July 24, 2025, providing the biggest lift to the S&P 500. Intel unveiled