The Nasdaq Composite index rose 0.5% on Monday following news of OpenAI’s significant partnership with Amazon, which secured a $38 billion cloud computing deal. Amazon’s stock surged 4% to an all-time high as it aims to bolster its AI capabilities with Nvidia-powered data centers through Amazon Web Services, expected to be operational by the end of next year. While the S&P 500 gained 0.2%, the Dow Jones fell by 0.5%, indicating a shift from industrial stocks to AI investments amid ongoing macroeconomic uncertainty, partly influenced by the government shutdown. Despite limited economic data, corporate earnings reports have generally exceeded expectations, boosting market sentiment. In cryptocurrency news, Bitcoin dipped below $105,000 for the first time since October, while Ethereum also fell below $3,500. Investor enthusiasm for AI technologies remains robust, fueling optimism in the tech sector.
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