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- 🚀 AMD shares up 43% this week
🚀 AMD shares up 43% this week
Market Overview
Read time 1.4 minutes
Year To Date Performances:
Dow Jones | 46,601.78 | 9.54% |
S&P 500 | 6,753.72 | 14.83% |
Nasdaq | 23,043.38 | 19.33% |
Russell 2000 | 2,483.99 | 11.38% |
TSX | 30,501.99 | 23.35% |
Bitcoin | $123,102.80 | 29.18% |
Ethereum | $4,517.31 | 34.85% |
US to Canadian Dollar | $1.40 | -3.06% |
AMD shares surged another 11% on Wednesday, capping a remarkable 43% gain for the week following news that OpenAI will buy billions of dollars in AI hardware from the chipmaker and potentially take a 10% ownership stake. The deal, which could generate tens of billions in revenue for AMD, has fueled investor optimism that the company could challenge Nvidia’s dominance in the AI chip market. With a market cap now at $380 billion, AMD is on track for its best weekly performance since 2016. CEO Lisa Su called the partnership a “win-win,” noting that AMD’s chips are ready for large-scale deployments, while Nvidia’s Jensen Huang described the agreement as “imaginative” and “surprising.”
Nvidia CEO Jensen Huang said his family’s move to the U.S. would not have been possible under President Trump’s new immigration policy, which now requires employers to pay a $100,000 fee per H-1B visa. Speaking on CNBC, Huang—who immigrated from Taiwan as a child—said his family could not have afforded the fee, calling immigration “the foundation of the American dream.” The rule has drawn criticism from tech leaders who rely on foreign talent, though some, including Netflix’s Reed Hastings and OpenAI’s Sam Altman, have praised it as a way to reserve H-1B visas for high-value jobs. Despite the steep costs, Huang confirmed that Nvidia, which currently sponsors 1,400 visas, will continue supporting immigrant workers and hopes the policy is refined to preserve opportunities for global talent.
Federal Reserve officials were largely united in their view that interest rates should continue to fall, but divided over whether two or three cuts were needed by the end of 2025, according to minutes from the September meeting. The Fed voted 11-1 to lower rates by a quarter point to a 4%-4.25% range, with most participants favouring two additional cuts this year amid signs of a weakening labour market and easing inflation pressures. Newly appointed Governor Stephen Miran was the lone dissenter, pushing for a larger half-point reduction and a more aggressive easing path. Policymakers also discussed the limited inflationary impact of President Trump’s tariffs and voiced concern that an ongoing government shutdown could hinder access to key economic data ahead of the next FOMC meeting, potentially forcing the Fed to make decisions with limited visibility.
Headlines
Air Traffic Control staffing shortages are causing flight delays in the United States.
The S&P 500 closed yesterday at an all-time high.