The Globe and Mail reports in its Wednesday edition that Nasdaq notched a record high close on Tuesday, lifted by AI-related stocks, while the S&P 500 hovered just below a record high as oil prices continued to soften amid optimism about prospects for a resolution in the Middle East conflict. A Reuters dispatch to The Globe says the Toronto Stock Exchange gained nearly 1 per cent on the back of a rally in both the tech and materials sectors. Strong gains in Shopify lent support. Chip stocks added to recent gains in New York while consumer-related software shares lost ground. Investors focused on the strong reception of Meta Platforms' artificial-intelligence assistant, which launched this month and can send e-mails and complete transactions on behalf of a user. The success of the AI assistant, called Muse, has fuelled gains for AI-related chip stocks in recent days. The S&P/TSX Composite Index ended up 326.21 points at 36,335.61. As expected, Xanadu Quantum shares faced steep selling pressure as a lockup lifted on trading for more holders of more than 95 per cent of the stock. Xanadu stock lost 21.6 per cent of its value as 34.7 million shares traded hands on Nasdaq, and another three-million-plus on the TSX.