Tech Stocks Surge to New Highs as AMD Deal Boosts Semiconductors
U.S. stock markets experienced a mixed day on Monday, with no clear direction overall. Despite this, tech stocks surged to new record highs, led by semiconductor giant AMD. Meanwhile, gold prices saw a notable increase.
The Nasdaq 100 closed at 24,979 points, up 0.8 percent, marking a fresh record high. This was driven by strong performances from tech stocks, with AMD's shares surging by about a quarter. The company recently concluded a billion-dollar deal with OpenAI, committing to supply 6 gigawatts of its high-performance MI450 series processors, with the first deliveries scheduled for the second half of 2026.
OpenAI plans to use these processors to build a one-gigawatt AI facility next year, demonstrating the tech giant's confidence in AMD's technology. The S&P 500 also closed higher, up 0.4 percent at 6,740 points, while the Dow closed slightly down by 0.1 percent at 46,695 points.
Gold prices saw a significant gain on Monday, with an ounce trading at $3,960, up 1.9 percent. The euro was slightly weaker, with one euro costing 1.1713 U.S. dollars. Despite the mixed performance in the broader markets, tech stocks' strength and AMD's deal with OpenAI were the standout stories of the day.
Read also:
- Regensburg Customs Crackdown Nets 40+ Violations in Hotel Industry
- Mural at blast site in CDMX commemorates Alicia Matías, sacrificing life for granddaughter's safety
- Germany Boosts EV Charging: 1,000 Fast-Charging Points on Motorways by 2026
- Albanese Invites LuLu Group to Australia as Free Trade Deal Takes Effect
