Shares of technology companies rose as traders chased gains in the sector, betting that revenue generated by artificial-intelligence would justify multibillion dollar investments.

Shares of Meta tested record highs after its Muse artificial-intelligence agent became the most downloaded app on the Apple's App Store.

Shopify, whose platform lets businesses sell, manage orders and process payments online, struck a deal with Meta to integrate the Muse agent with its "one-tap" checkout service.

The Nasdaq 100 index of mega-cap tech stocks closed on the brink of all-time highs, up by more than one-third from its lows in March.

DoorDash agreed to pay $131.5 million to settle an investigation by New York City regulators into the company's compliance with pay laws for food-delivery workers.