The S&P 500 (SNPINDEX: ^GSPC) surged nearly 15% in the first half of the year, reaching a record high and confirming the arrival of a bull market. Technology stocks, especially those involved in the rapidly growing field of artificial intelligence (AI), led the rally. Investors were eager to invest in companies with rising revenues and promising long-term prospects.

Historically, a successful first half often leads to a successful second half. According to a J.P. Morgan Wealth Management report, since 1950, the index has risen by 10% or more in the first half 22 times. In 18 of those instances, the market continued to grow in the second half, with an average annual increase of more than 25%. The data shows that this year’s first half is one of the top five in the past 25 years.

The momentum could continue into the second half for several reasons. We are in the early stages of AI development, and the current $200 billion market is forecasted to grow to more than $1 trillion by the end of this decade. Companies are likely to increase investments in AI projects, leading to revenue growth for tech companies. Additionally, these AI players have catalysts such as the upcoming launch of Nvidia’s new Blackwell architecture and chip, which could support further stock price gains and contribute to the progress of the S&P 500.