The S&P 500 Index and its top ETFs, like the SPY and VOO have surged and moved to their all-time highs this year, helped by the ongoing tailwinds in the artificial intelligence industry.
The index jumped to a record high of $6,692, up by almost 40% from its lowest level this year. This article looks at the companies driving the surge in the index and its ETFs this year.
Seagate Technology and Western Digital stocks are top VOO and SPY gainers
AI has been the top theme moving the stock market this year, with companies like Microsoft, Amazon, and Google spending billions of dollars in cash a month.
Even smaller companies like IREN, CoreWeave, and Nebius are gaining substantial momentum this year and spending billions of dollars.
This spending is in line with the projected requirements for artificial intelligence solutions in the coming years. Recent reports by Bain and McKinsey have highlighted the fact that AI spending will be in the trillions in the coming years.
While most people have focused on Nvidia, it is the old-school and less glamorous companies that are leading the S&P 500 Index this year.
Seagate Technology and Western Digital have jumped by 152% and 137% this year. This is notable since these companies are specialists in making hard disks that are used both in PCs and in large data centers.
Micron, which makes NAND and DRAM drives has also jumped this year. It has soared by over 84%, with its gains extending after the company published strong financial results this week.
Palantir stock is up 135% in 2025
Meanwhile, Palantir Technologies’ stock price has soared by 135% this year and is up by 1,700% in the last five years. This growth has pushed its market capitalization to over $430 billion, leading investors to question its valuation, considering that its annual revenue is less than $5 billion.
Palantir stock price surged after publishing strong financial results, with its quarterly figure crossing the $1 billion mark for the first time in years. Most importantly, the company’s commercial business is about to cross the government segment as more companies embrace its technology.
Newmont Corporation has been boosted by gold prices
Meanwhile, Palantir Technologies is thriving, with its stock surging by 120% this year.
This growth has pushed its market capitalization to over $91 billion, making it the biggest gold mining company in the industry.
Newmont’s growth is primarily because of the ongoing gold price surge. Gold started the year at $2,600 and has now jumped to a record high of nearly $3,800.
Gold has been boosted by the ongoing demand for safe haven assets because of Donald Trump’s policies and the start of Federal Reserve interest rate cuts.
Warner Bros and Paramount Skydance
Media giants Warner Bros and Paramount Skydance are the other top gainers in the VOO and SPY ETFs this year. WBD has jumped by 85%, while Skydance has soared by 80%.
Paramount Skydance stock price has soared after the company was acquired by Skydance, a company owned by David Ellison, son to Larry Ellison.
Warner, on the other hand, has jumped as talks between it and Paramount continue. A buyout would create a juggernaut in the entertainment industry.
Other top gainers in the VOO and SPY ETFs
There are many other companies in the green this year. The most notable ones are GE Aerospace and GE Vernova, whose stocks have soared by 76% and 82% this year. GE Aerospace is being boosted by the robust orders in civil aviation, while GE Vernova has become an AI play because of the rising energy demand.
Oracle, Lam Research, Amphenal, and NRG Energy are the other notable names on the top.
On the other hand, the top laggards in the S&P 500 Index are companies like The Trade Desk, Lululemon, Deckers Outdoors, Gartner, and Dow, which have plunged by over 40% this year
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