NEW YORK, May 13 (Reuters) - The Standard & Poor's and Nasdaq indexes rose on Wednesday, boosted by shares of technology companies linked to artificial intelligence, helping markets shrug off higher-than-expected inflation data and growing likelihood that the Federal Reserve will stick to its restrictive monetary policy for the foreseeable future.

The two indices reversed their earlier downward trend to achieve new record closing levels, with chip stocks rebounding after yesterday's decline.

Six of the "Big Seven"—the AI-powered companies with massive market capitalization—recorded strong gains. These seven companies are Nvidia, Apple, Microsoft, Alphabet, MetaPlatforms, Amazon, and Tesla.

"Faced with persistently high inflation data, technology remains resilient," said Ryan Detrick, chief market strategist at Carson Group in Omaha, Nebraska. "After some weakness yesterday, chip stocks are back on the rise today."

A Labor Department report showed that producer prices jumped 1.4 percent last month, the largest monthly increase in four years. While the rise was largely driven by disruptions to crude oil supplies due to the closure of the Strait of Hormuz, the report indicated that higher oil prices were beginning to spill over into other sectors of the economy, suggesting that rising inflation was becoming more widespread.

Preliminary data indicates that the Standard & Poor's 500 rose 43.18 points, or 0.58 percent, to close at 7444.14 points, and the Nasdaq Composite Index increased 316.54 points, or 1.21 percent, to 26404.74. However, the Dow Jones Industrial Average fell 66.93 points, or 0.13 percent, to 49693.63 points.