A Global Spree of AI Partnerships Drives the Tech Sector to New Records

Equities surge on AI partnerships; and is the shutdown being used to downsize government?

Key Takeaways

• AI Megadeals Overshadow U.S. Shutdown Woes: A global spree of AI partnerships (SK Hynix-Samsung, Hitachi-Open AI, and Fujitsu-Nvidia are the latest collaborations) has unleashed a new wave of buying activity in the equity market, swamping the effects of the U.S. government shutdown. OpenAI has just approached the $500 billion club in terms of market valuation (which matches the leader at the peak of the last tech bubble in early 2000, when Microsoft was at the top with a valuation just north of $500 billion).