The S&P 500 achieved unprecedented highs, however, major indexes forfeited their weekly gains due to a report surrounding Alibaba which compounded worries related to Nvidia's operations in China. This development came amidst a broader context of the market responding to news regarding AI plays. The post on Investor's Business Daily highlighted how these factors led to the erasure of gains in the stock market, underlining the impact of the Alibaba news on Nvidia and the overarching role of AI developments during the week.