On Monday, storied Swiss bank UBS Group initiated coverage of Arm's stock. Analyst Timothy Arcuri flagged the highly specialized AI stock as a buy, with a price target of $160 per share. That's 17% higher than the stock's most recent closing price.

NEW YORK — Technology stocks pulled Wall Street to another record amid a mixed Monday of trading. The Standard & Poor’s 500 rose 0.2% from its all-time high set on Friday to post a record for the 54th time this year. The Dow Jones industrial average fell 128 points, or 0.3%, while the Nasdaq composite gained 1%.

Latest reports from tech news platform TechCrunch indicate that MatX, a chip-design startup focused on supporting large language models, has raised $80 million in a funding round.

What's the best example of a stock benefiting from the recent election results? Palantir Technologies (NASDAQ: PLTR) should rank near the top of the list. Shares of the artificial intelligence (AI) and data analytics software company have nearly quadrupled in value year to date.

TOKYO (AP) — Asian shares mostly rose Tuesday, after technology stocks pulled Wall Street to another record finish. The S&P 500 rose 0.2% Monday from the previous session’s all-time high to post a record for the 54th time this year. The Dow Jones Industrial Average fell 128 points, or 0.3%, while the Nasdaq composite gained 1%.

Palantir Technologies (NASDAQ: PLTR) is the most recent addition to the Nasdaq, joining the tech-centric index on Nov. 26. This follows the company's recent admission to the S&P 500, making it one of just 11 companies afforded that honor so far this year.

Goldman Sachs says software companies are the next major beneficiaries of the artificial intelligence boom. Datadog is highly rated by Wall Street analysts due to the company’s strong position in observability software.

Stocks are closing with solid gains as Wall Street puts the finishing touches on one of its best months of the year. The S&P rose 0.7% while the Dow Jones Industrial Average was up 188 points, or 0.4%.