U.S. equities finished mixed on Thursday, with the S&P 500 and Nasdaq Composite logging fresh record closes after Alphabet’s stronger-than-expected quarterly results reinvigorated enthusiasm for artificial-intelligence spending. The tech-heavy Nasdaq rose 0.19% to 21,057.96, while the broad S&P 500 edged up 0.08% to 6,363.87, marking its 10th record in 19 trading sessions. Alphabet’s Class A shares advanced more than 3% after the Google parent beat second-quarter earnings estimates and said it would lift this year’s capital-expenditure budget by $10 billion, to about $85 billion, to expand data-center capacity for AI applications. The announcement rippled through the market, lifting other high-valuation technology names tied to the AI supply chain. The bullish sentiment in megacap tech contrasted sharply with Tesla, whose stock slid roughly 6% as investors digested a 12% drop in quarterly revenue and CEO Elon Musk’s warning that the electric-vehicle maker faces “a few rough quarters” following the phase-out of U.S. incentives and softer European demand. Tesla’s decline, along with post-earnings weakness in IBM and Honeywell, dragged the price-weighted Dow Jones Industrial Average 0.69% lower to 44,698.21. Underlying economic data offered additional support to risk assets. Initial jobless claims fell for a sixth consecutive week, dropping to 217,000, underscoring labor-market resilience ahead of the Federal Reserve’s policy decision next week. Treasury yields rose modestly as investors pared expectations for near-term rate cuts.