The Dow just notched another record high, as Wall Street bets that the five-month war in the Middle East is finally winding down. With five years of above-target inflation, she said, the risk grows that higher inflation becomes entrenched. SpaceX's AI spending gets auditedSpaceX shares sank 13.6% after a surge in AI spending rattled investors and clouded an otherwise expectation-beating quarter. Musk tried to allay fears, saying SpaceX would hit $1 trillion in annual revenue by 2030, a year earlier than previously forecast. AI buildout allegianceMusk's pledge that SpaceX would only use Nvidia processors for its AI infrastructure sent the chipmaker's shares up more than 3%.