Big Tech Rally Extends Into Fourth Week as AI Bubble Fears Fade

Markets Contact us:Provide news feedback or report an error Confidential tip?Send a tip to our reporters Site feedback:Take our Survey By Natalia Kniazhevich October 9, 2026 at 12:01 PM UTC Updated on October 9, 2026 at 8:26 PM UTC Takeaways by Bloomberg AI US stocks ended the week inches away from record highs as investors brushed aside concerns around the artificial-intelligence spending spree and an energy crunch to prepare for the start of earnings season. The S&P 500 Index rose 0.6% on Friday, while the Nasdaq 100 advanced 0.5% with the tech-heavy benchmark posting its fourth straight week of gains. A report that OpenAI expects to reach or exceed $70 billion in annualized revenue by year-end helped alleviate anxiety over the durability of the AI boom after an earlier report suggested the company’s sales would fall short of expectations. Some on Wall Street are pushing back on the narrative that the market has climbed too far, too fast.