May Was Merry For These Techs In The Dow Jones Industrials

AI-driven enthusiasm pushed legacy tech and semiconductor stocks higher and lifted the Dow to record levels in May. Cisco and IBM were the Dow’s top performers — Cisco surged 31.6% in May after bullish earnings and a 13.4% gap up on May 14, while IBM jumped 28.9% following a $1 billion Department of Commerce quantum-foundry award and a positive Barclays initiation. Nvidia also contributed to the rally. The Dow rose 2.8% in May and gained 10.1% over two months, underscoring broad market strength as AI demand fuels networking and chip-related stocks.