Hot Stocks: Market Overview
US markets showed mixed results on Monday, with investors focusing on artificial intelligence stocks following significant deal announcements.
- The Nasdaq gained 0.4%.
- The S&P 500 edged 0.2% higher.
- The Dow fell 0.6%.
Notable gains included Amazon shares jumping 4% after its cloud unit signed a $38bn deal with OpenAI, which boosted demand for Nvidia’s chips. Nvidia rose 2%, Micron added 5%, and semiconductor stocks broadly advanced.
Microsoft also expanded its AI infrastructure, signing a $9.7bn deal with Sydney-based data centre operator Iren, sending Iren’s shares up 13.4%.
Nvidia received further support from news that Microsoft had secured export licences to ship its chips to the UAE, where total investment could reach $15.2bn by 2029. ASX futures pointed to a slight decline ahead of the Reserve Bank’s policy announcement.
Author's summary: US markets mixed amid AI deal announcements.
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