US stocks surged to record highs shortly after the opening bell on Monday, urging investors to overlook the ongoing government shutdown, now in its sixth day. This optimism was fueled by a multibillion-dollar infrastructure deal, suggesting the artificial intelligence spending boom continues unabated. As of 9:35 a.m. in New York, the S&P 500 Index rose by 0.3%, marking its seventh winning week in nine. The Nasdaq 100 Index climbed 0.8%, bolstered by Advanced Micro Devices Inc. (AMD), which soared 31% after securing a significant deal with OpenAI to enhance AI infrastructure, projecting potential revenue growth of tens of billions. Conversely, Nvidia Corp., AMD’s primary competitor in the graphics processor market, faced a downturn, dropping 2.2% post-announcement. This market behavior highlights the interlinked nature of tech advancements and stock performances amid broader economic challenges.
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