According to CNBC, the S&P 500 rose 1.2% for the week after reaching an all-time intraday high Tuesday and closing above 7,800 for the first time, while the Nasdaq gained 0.6% and also finished at a record Tuesday. The report said volatility in artificial intelligence stocks drove much of last week's trading, with shares falling Thursday after a Financial Times report said OpenAI's annualized revenue at the end of September was about $20 billion below previously indicated levels, then rebounding Friday after Bloomberg sources said OpenAI expects annualized revenue of at least $70 billion by year-end.

The article also said SpaceX is looking to raise $40 billion to buy more Nvidia chips and expand its AI compute business, and that the company announced a deal Thursday evening to acquire a nationwide spectrum portfolio. Goldman Sachs raised its SpaceX price target to $230 from $220, and Barclays initiated coverage of the company late Thursday. Separately, Starbucks drew support from customer data showing it was the only chain in a group including Dunkin', Dutch Bros and 7 Brew to see improving intentions to spend more, while the Financial Times reported Starbucks has explored acquiring Chipotle.