The major US stock indices are closing mixed with the Dow industrial average lower while the broader S&P and NASDAQ indices are closing higher, and at record levels.A snapshot of the closing levels shows: Dow industrial average -79.61 points or -0.16% at 49230.71S&P +56.68 points or 0.80% at 7165.08NASDAQ index up 398.09 points or 1.63% at 24836.60The small-cap Russell 2000 rose 11.90 points or 0.43% at 2787.00.For the trading week, the Dow industrial average also fell while the S&P and NASDAQ indices closed higher: Dow industrial average fell -0.44%S&P index rose 0.55%NASDAQ index rose 1.50%The winners were clearly dominated by semiconductor and AI-linked names, with a strong secondary lift from cyclicals and energy-related stocks. Intel was the big winner after their beat in earnings after the close yesterday.At the top of the leaderboard:Intel (+23.6%) led the surge, reflecting strong AI-driven demand and bullish forward guidanceAMD (+13.9%) and Arm (+14.8%) followed, riding the same AI tailwindsQualcomm (+11.1%) and Synopsys (+9.6%) added to the chip-sector strengthAmbarella (+9.1%) and Super Micro Computer (+8.7%) continued the AI/data-center momentumOutside of chips but still strong:Newmont (+8.6%) benefited from firm gold pricesBaker Hughes (+6.9%) gained on energy sector strengthSanDisk (+6.2%), Baidu (+5.9%), and Cadence (+5.9%) added solid gainsShake Shack (+5.5%) and TSMC (+5.2%) rounded out the winnersShares of Nvidia, Amazon, and Alphabet closed at a new record levels. Next week will be a big week earnings with Amazon, Alphabet, Apple, Meta, Visa, Boeing, McDonald's, Exxon, Chevron all scheduled to release.Big picture:The move fits with the broader market theme—AI and semiconductor stocks are leading the rally, with Intel acting as the catalyst and pulling the entire chip space higher. Bottom line:AI/chip stocks = clear leaders, with broad participation across the sector and supportive momentum spilling into energy and select cyclicals. This article was written by Greg Michalowski at investinglive.com.