World shares have begun the new year on an upbeat note, with benchmarks in Britain and South Korea hitting records. Expectations that expanding use of artificial intelligence will spur demand for computer chips and other items needed to build out the data centers and the other infrastructure it requires boosted buying of tech-related shares. Markets were still closed Friday in Tokyo and Shanghai. On Wednesday, the S&P 500 pulled back 0.7% and the Dow Jones Industrial Average lost 0.6%. The Nasdaq composite gave back 0.8%. Wall Street reopens for trading on Friday. The S&P 500 rose more than 16% last year as investors embraced the optimism surrounding artificial intelligence.
