AI-driven stocks led a market surge as Anthropic's valuation approached $1 trillion, surpassing OpenAI as Silicon Valley's most valuable AI company. Snowflake's shares soared 36% following strong demand for its AI platform and better-than-expected earnings. Dell also saw a 31% increase after securing a $9.7 billion Pentagon contract and reporting robust financial results. Despite escalating U.S.-Iran tensions, with reports of missile strikes and a potential ceasefire, U.S. tech stocks continued to climb. The S&P 500 and Nasdaq reached record highs, while Exxon warned of potential oil shortages. Meanwhile, the U.S. April core PCE price index rose 3.8% year-over-year, suggesting ongoing inflationary pressures.