Wall Street reached fresh record highs as investors welcomed a wave of robust artificial intelligence corporate earnings alongside falling oil prices.

U.S. equities closed at fresh all-time highs driven by a surge in Palantir Technologies shares and falling oil prices that eased inflation worries.

Palantir Technologies delivered a blockbuster Q2 with revenue surging 93% to $1.94 billion, sending its stock soaring amid accelerated enterprise AI adoption.