OpenAI CEO Sam Altman (L) speaks with Microsoft Chief Technology Officer and Executive VP of Artificial Intelligence Kevin Scott during the Microsoft Build league astatine Microsoft office successful Redmond, Washington, connected May 21, 2024.
Jason Redmond | AFP | Getty Images
Investors can't get capable of artificial intelligence, contempt worries implicit the sector's excessively precocious valuations.
The S&P 500, Dow Jones Industrial Average and Nasdaq Composite roseate Tuesday stateside, with each 3 notching caller intraday highs. The large averages were juiced by gains successful tech. Nvidia popped astir 5%, portion Microsoft climbed astir 2%.
Both Apple and Microsoft reached a marketplace capitalization of implicit $4 trillion aft their shares rose. It was the archetypal clip Apple deed that milestone, though it closed conscionable shy of that level.
Tech companies can't get capable of each other, either.
Nvidia announced a $1 trillion concern successful Nokia, which the Finnish institution said volition spell toward processing its AI plans. For those, similar me, who retrieve Nokia arsenic a institution that made the astir desirable and bullet-proof phones: It chiefly produces cellular instrumentality now.
Meanwhile, with its 27% involvement successful OpenAI's for-profit business, Microsoft is perchance sitting connected a goldmine — provided AI finds its footing arsenic a sustainable, revenue-generating concern successful the agelong run. OpenAI connected Tuesday announced it had completed its restructuring arsenic a nonprofit with a controlling involvement successful its for-profit arm.
It's not conscionable Microsoft. Investors who person poured wealth into tech could perchance summation large — arsenic Cathie Wood of Ark Invest says, "If our expectations for AI … are correct, we are astatine the precise opening of a exertion revolution."
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And finally...
Jerome Powell, president of the US Federal Reserve, during the International Monetary Fund (IMF) and World Bank Fall meetings astatine the IMF office successful Washington, DC, US, connected Thursday, Oct. 16, 2025.
Kent Nishimura | Bloomberg | Getty Images
Markets are assigning a astir 100% probability that the Federal Open Market Committee volition o.k. a 2nd consecutive 4th percent point, oregon 25 ground point, simplification successful the national funds rate. The overnight lending benchmark is presently targeted betwixt 4%-4.25%.
Beyond that, policymakers are apt to debate, among different things, the aboriginal way of reductions, the challenges posed by a deficiency of economical information and the timetable for ending the simplification successful the Fed's plus portfolio of Treasurys and mortgage-backed securities.
— Jeff Cox
English (US) ·