Tech stocks are booming again

The combined weighting of Apple and Microsoft?in the S&P 500 as of this week. That’s the highest concentration for any two stocks in the index since at least 1980, as tech shares are hot again and other sectors like banks and energy have flagged.

This Semafor Stat first appeared in our Business newsletter, from? Liz Hoffman ?and? Bradley Saacks .?Sign up?to get it in your inbox every Tuesday and Thursday.

Evidence

Global investment in solar energy will top investment in oil production for the first time this year,?according to a?new International Energy Agency report. Clean energy investment in general is leading fossil fuels by a wider margin every year, the report found — but fossil fuel investment still needs to fall by about half from its current levels by 2030 to be on track for net zero by mid-century.

These charts first appeared in our Net Zero newsletter, from Tim McDonnell . Sign up to get it in your inbox every Wednesday and Friday.

More from Semafor's newsletters:

• What’s worrying the world’s top cop? — Jay Solomon in Semafor Security
• A South African company delivered arms to Russians, government probe suggests — Sam Mkokeli in Semafor Africa
• Donald Trump is a shameless flip flopper. Can Ron DeSantis make voters care? — Benjy Sarlin and Shelby Talcott in Semafor Principals

Ukraine is running out of ammo. The West doesn’t have enough.

In this part-explainer, part-investigative mini-documentary — the third episode of our new series?The Agenda?— Semafor takes a hard look at the state of the U.S. defense industry to answer why supplying Ukraine with the ammunition it needs has become such a daunting task. Subscribe to our YouTube channel?for more.