S&P 500 Non-AI Stocks Rally as Median Stock Sits 15% Below Peak

Non-AI stocks in the S&P 500 rallied as the artificial intelligence (AI) theme came under pressure, while the broader index was reaching all-time highs. The median S&P 500 stock was about 15% below its own peak, based on data through Oct. 21.

SPXXAI is Goldman Sachs Asset Management’s S&P 500 ex-AI basket, and GSTMTAIP is its AI basket. The update follows an earlier weekly comparison of the ex-AI index and the S&P 500.