U.S. stocks ended higher on Monday, driven by a rebound in technology shares.
The Dow Jones Industrial Average rose 0.29 percent to a record high of 53,055.91. The Standard and Poor's 500 added 0.72 percent to 7,537.43. The Nasdaq Composite Index increased 1.12 percent to 26,121.16.
Six of the 11 primary Standard and Poor's 500 sectors closed lower, with health care and utilities leading the laggards at declines of 1.17 percent and 1.06 percent, respectively. Communication services and technology were the top performers, rising 1.64 percent and 1.34 percent, respectively.
Technology stocks rose broadly on Monday. The State Street Technology Select Sector SPDR ETF gained nearly 2 percent, supported by a 7.14 percent surge in Western Digital and a 2.83 percent increase in Teradyne. Marvell Technology rose 1.62 percent, while Oracle advanced 2.49 percent.
Six of the "Magnificent Seven" mega-cap technology stocks closed higher, led by a 6.69 percent gain in Tesla. Microsoft was the outlier, slipping nearly 1 percent on reports of thousands of layoffs in its Xbox division.
U.S. stocks close higher on tech rebound
Artificial intelligence is developing faster than governments and institutions across the world can respond, highlighting the need for a global platform to address emerging challenges, Rein Tammsaar, co-chair of the United Nations Global Dialogue on Artificial Intelligence Governance, said on Monday.
Speaking in a media briefing session on the sidelines of the two-day UN Global Dialogue on AI that opened on Monday, Tammsaar, who is also the permanent representative of Estonia to the UN, said the dialogue would serve as an opportunity to further build international consensus and lay a solid foundation for improving AI global governance under the UN framework.
"It is true that the AI development is happening quicker than anyone can react to this. And we see it around the world, frankly. We're able here to start something, meaningful discussion, on a global level, create a platform and to address few issues," said Tammsaar.
Attendees of the dialogue believe that AI is both an important engine for promoting economic and social development, and requires the establishment of corresponding international rules to seek a balance between encouraging innovation and preventing risks.
In addition to focusing on AI security governance, the dialogue also emphasized discussions on capacity building in developing countries, digital infrastructure and technology sharing. Many developing countries expressed their welcome and appreciation for China's AI open-source initiatives, hoping that more countries can share in the benefits of AI development.
Chinese scientists with UN's Independent International Scientific Panel on AI spoke on relevant topics, and gave an overall presentation on China's achievements in AI development, governance experience and international contributions.
Global AI dialogue aims to keep pace with rapid technological changes: UN official
