The US stock market closed at a record high overnight, as the fervour around artificial intelligence (AI) eclipsed concerns about the ongoing fallout of the Iran war, Al Jazeera reports.

The benchmark S&P 500 index rose 0.6 per cent, while the tech-heavy Nasdaq Composite climbed 1.2pc.

The S&P 500 has gained 8.5pc so far this year, while the Nasdaq Composite is up 13.6pc.