With Wall Street worries about conflict in the Middle East fading, the artificial intelligence trade is roaring back.

The Nasdaq Composite rallied 1.5% in Tuesday trading. The S&P 500 was up 1.2%. The Dow was up 500 points, or 1.2%.

The S&P 500 was within 1% of its Feb. 19 record close, while the Nasdaq 100, up 1.5%, was on track for a fresh record.