During October, the S&P 500 excluding artificial intelligence-related equities outperformed the broader index by 6.4 percentage points. This trajectory puts the non-AI segment on pace to achieve its strongest relative monthly performance in history.
The current trend represents a significant pivot from the previous month's data. In September, the same group of stocks lagged the S&P 500 by 5.1 percentage points, highlighting a sharp shift in market leadership away from the technology sector.