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Markets rally on AI chip deal optimism as Nasdaq and S&P 500 hit records. Gold nears $4,000 with investors seeking havens amid prolonged US shutdown. Japan stocks surge post-Takaichi leadership win. Tech and chipmakers lead gains while uncertainty persists.
OpenAI has inked a groundbreaking multibillion-dollar chip supply deal with AMD, granting it up to a 10% stake and securing 6GW of compute power. This partnership intensifies the AI chip race, challenging Nvidia’s dominance and boosting AMD’s stock significantly.
6 gigawatts – Compute power secured by OpenAI in recent AMD chip deal.
US government shutdown persists beyond six days with no bipartisan agreement, impacting federal workers and economic programs. The stalemate continues amid mounting political tension and repeated legislative failures.
Trump administration aggressively pursues National Guard deployments in various cities, facing multiple legal challenges and court restraints. States like Illinois and Oregon are suing to halt what they call unlawful troop deployments ordered by the federal government.
Bari Weiss Ascends as CBS News Editor-in-Chief in $150M Deal
The acquisition of The Free Press startup by Paramount and Bari Weiss’s appointment as CBS News editor-in-chief marks a strategic editorial shift with potential for media revitalization.
More on washingtonpost.com
Japan’s ruling party elects Sanae Takaichi as its new leader, triggering a surge in Japanese stocks and a plunge in the yen. The conservative win signals possible continued fiscal stimulus and market optimism in Japan.
Bari Weiss climbs to influential media position as CBS News acquires her startup The Free Press for $150 million. This move marks a significant editorial shift and could influence CBS News’ future direction.
US Government Shutdown Enters Second Week Amid Congressional Deadlock
Bipartisan talks fail to breach impasse as government shutdown continues, leading to federal worker furloughs and disruptions in services across the nation.
More on theweek.com
Fifth Third Bancorp agrees to acquire Comerica in a $10.9 billion all-stock deal to create the ninth largest bank in the U.S. The merger aims to consolidate regional bank strength and expand market presence.
Gold prices climb sharply toward $4,000 an ounce amid the US government shutdown and expectations of Federal Reserve rate cuts. Investors seek safe havens amid economic and political uncertainty.
US Treasury plans $1 coin featuring President Trump; SEC probes AppLovin on data practices; EU markets authority moves to regulate crypto firms.
OpenAI further expands developer ecosystem by launching application SDK and enabling ChatGPT to access third-party apps like Spotify and Zillow. This opens new business and integration avenues for AI applications.
AI industry faces concerns over speculative bubble and circular investments as major players Nvidia, AMD, and OpenAI interlink through deals. Experts warn of risks if any weakening actor falters amid heavy capital inflows.
We need as much computing power as we can possibly get to fuel the AI revolution.
— Greg Brockman, OpenAI President
Tesla teases a major product announcement with cryptic social media videos, sparking investor excitement and stock rally. Anticipation mounts for the upcoming event on October 7.
Verizon appoints former PayPal CEO Dan Schulman as its new chief, aiming to navigate slowing subscriber growth and intensifying competition in the telecom sector.
OpenAI secures a multibillion-dollar chip supply pact with AMD, with potential for a 10% equity stake. The deal boosts AMD shares and represents a key move to scale AI data center infrastructure.
Supreme Court starts a new term featuring major cases on expansive presidential powers, voting rights, and key challenges related to former President Trump. Court watchers anticipate consequential rulings.
Israel and Hamas begin indirect peace talks in Egypt as part of a US-brokered plan. Discussions focus on hostage releases with hopes for a ceasefire amid ongoing conflict tensions.
AppLovin stock plunges over reports of a Securities and Exchange Commission probe into its data collection and targeted advertising practices, triggering investor concern and shares drop.
US Treasury plans to issue a $1 coin featuring President Donald Trump for the nation’s 250th anniversary, sparking interest and potential legal debates over currency design and heritage.
Retailers like Kroger recall pasta products nationwide over potential listeria contamination, adding to a growing list of recalls amid food safety concerns impacting consumer confidence.
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