"AMD leapt on OpenAI looking at taking a 10% stake in the chipmaker. OpenAI will deploy 6 gigawatts of AMD's Instinct graphics processing units - AMD rose over 23% on Monday. Seems a bit like a pass-the-parcel of equity and investment dollars - what happens when it all breaks? Every company seems to have a stake in the next and is a customer of the other. Nvidia shares fell over 1%."
"Plus ça change: France is in the mire politically and fiscally. The problem is the parliamentary arithmetic doesn't stack up and no government wants to fall on its sword to get the kind of reforms required to sort out the budget deficit. So, we end in a circular mess of failed governments and resigning prime ministers. President Macron has given the latest in this sorry line, Sebastien Lecornu, who resigned yesterday, two days to try sort something out. Macron looks cornered."
US equities extended gains with the S&P 500, Nasdaq and Russell 2000 reaching record highs even as futures drifted slightly lower and European markets appeared muted. OpenAI is reportedly considering a roughly 10% stake in AMD and plans to deploy six gigawatts of AMD Instinct GPUs, triggering a sharp one-day jump in AMD shares and raising concerns about interlocking corporate investments. Tesla rallied on a teaser hinting at a new model while Nvidia fell slightly. French political instability, including the resignation of Sebastien Lecornu, pressured French bonds, widened Franco-German spreads and weighed on the euro.
Read at London Business News | Londonlovesbusiness.com
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