CNBC Daily Open: Nvidia denies rift with OpenAI, while software and asset management stocks plunge

Advanced Micro Devices reported fourth-quarter earnings connected Tuesday aft the bell. The chipmaker bushed Wall Street's gross and nett estimates, but shares plunged much than 8% successful extended trading due to the fact that its guidance came up abbreviated of immoderate expectations.

AMD's main rival, Nvidia, is facing difficulties of its own. CEO Jensen Huang told CNBC's Jim Cramer connected Tuesday that there's "no play involved" betwixt the institution and OpenAI. "Everything's connected track," helium added.

Huang was referring to Nvidia's $100 cardinal concern successful OpenAI, struck successful September, which is "on ice," reported The Wall Street Journal connected Saturday. Nvidia shares fell much than 3.4% connected Tuesday.

Major U.S. indexes had a atrocious time arsenic well. The S&P 500 mislaid 0.84% and the Dow Jones Industrial Average ended 0.34% little — contempt rising arsenic overmuch arsenic 0.5% earlier successful the league to interaction a caller record.

The tech-heavy Nasdaq Composite slumped 1.43%, weighed by bundle stocks, specified arsenic ServiceNow and Salesforce, with some tumbling astir 7% — investors look to beryllium factoring successful that artificial quality could diminish the worth of those companies.

Asset firms with important private recognition marketplace holdings, specified arsenic Blue Owl, Ares Management and KKR, besides sank. The bundle manufacture makes up astir 20% of backstage loans from nonstop lenders, according to iCapital, an alternate concern company.

There was astatine slightest 1 affirmative improvement overnight. U.S. President Donald Trump signed into instrumentality a measure to fund the national government, which had been connected a little shutdown since Saturday morning.

For the time ahead, look retired for PMI releases from Japan, China and India.

The xAI and SpaceX merger is the biggest of each time, with the woody valuing the combined institution astatine $1.25 trillion. Breaking down the number, SpaceX is valued astatine $1 trillion and xAI astatine $250 billion, according to documents viewed by CNBC.

Disney names Josh D'Amaro arsenic its adjacent CEO. D'Amaro is presently president of Disney Experiences, and volition succeed Bob Iger connected March 18 astatine Disney's yearly meeting.

Stephen Miran resigns from his White House station as seat of the Council of Economic Advisers, CNBC confirmed. He had been on permission from this post since September 2025 — erstwhile helium became a subordinate of the Federal Reserve Board of Governors.

U.S. bundle and plus absorption stocks slump, driving large indexes little connected Tuesday. Bitcoin continued its descent, but spot gold and spot silver regained immoderate of their losses. Europe's Stoxx 600 ticked up 0.1%.

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Ray Dalio warns the satellite is 'on the brink' of a superior war

Legendary investor Ray Dalio warned connected Tuesday that the satellite is "on the brink" of a superior war, amid simmering geopolitical tensions and volatile superior markets.

Speaking to CNBC's Dan Murphy on signifier astatine the World Governments Summit in Dubai, United Arab Emirates, Dalio said we are adjacent to teetering into superior warfare territory — erstwhile wealth is weaponized utilizing measures similar commercialized embargoes, blocking entree to superior markets, oregon utilizing ownership of indebtedness arsenic leverage.

He pointed to caller escalating tensions implicit the Trump administration's propulsion to bring Greenland — a Danish territory — nether Washington's control.

— Chloe Taylor