53m agoMon 22 Sep 2025 at 10:35pmMarket snapshotASX 200 futures: +0.2% to 8,867 pointsAustralian dollar: Flat at 65.97 US centsS&P 500: +0.4% to 6,693 pointsNasdaq: +0.7% to 22,788 pointsFTSE: +0.1% to 9,226 pointsEuroStoxx: -0.2% to 575 pointsSpot gold: -0.1% to $US3,743/ounceBrent crude: -0.2% to $US66.65/barrelIron ore: +0.1% to $US106.60 a tonneBitcoin: -0.1% to $US112,756

Price current around 8:30am AEDT

Live updates on the major ASX indices:

40m agoMon 22 Sep 2025 at 10:48pmNvidia to supply OpenAI with data center chips

Nvidia says it will invest up to $US100 ($152) billion in OpenAI and supply it with data center chips, the companies said on Monday, marking a tie-up between two of the highest-profile players in the global artificial intelligence race.

The move underscores the increasingly overlapping interests of the various tech giants developing advanced AI systems. The deal gives chipmaker Nvidia a financial stake in the world’s most prominent AI company, which is already an important customer.

At the same time, the investment gives OpenAI the cash and access it needs to buy advanced chips that are key to maintaining its dominance in an increasingly competitive landscape. Rivals of both companies may be concerned the partnership will undermine competition.

The deal will involve two separate but intertwined transactions, according to a person close to OpenAI. Nvidia will start investing in OpenAI for non-voting shares once the deal is finalized, then OpenAI can use the cash to buy Nvidia’s chips, the person said.

“Everything starts with compute,” OpenAI CEO Sam Altman said in a statement. “Compute infrastructure will be the basis for the economy of the future, and we will utilize what we’re building with Nvidia to both create new AI breakthroughs and empower people and businesses with them at scale.”

The two companies signed a letter of intent to deploy at least 10 gigawatts of Nvidia systems for OpenAI and said they aimed to finalize partnership details in the coming weeks. The power for those chips is equivalent to the needs of more than 8 million US households.

Under the new deal, once the two sides reach a definitive agreement for OpenAI to purchase Nvidia systems, Nvidia will invest an initial $US10 billion, the person familiar with the matter said. OpenAI was most recently valued at $US500 billion.

Nvidia will start delivering hardware as soon as late 2026, with the first gigawatt of computing power to be deployed in the second half of that year on its upcoming platform, named Vera Rubin.

With Reuters

1h agoMon 22 Sep 2025 at 10:18pmAustralians lay dead as investors of Optus’s parent company bought shares

The actions by Optus management in the hours following a series of failed attempts by its customers to call triple-0 raises questions about the telco’s fitness to operate in Australia.

Here is the latest analysis on Optus by business correspondent David Taylor.

1h agoMon 22 Sep 2025 at 10:04pmAI ‘gold rush’

Artificial intelligence is set to become an integral part of the Australian economy, with tens of billions in benefits to be gained.

From robots to supercomputers, we are processing information faster than ever, and it is set to revolutionise the economy.

Across everything from the technology sector to education, health care, and professional services, AI promises to reshape commerce and industry.

Read more from business correspondent David Taylor.

1h agoMon 22 Sep 2025 at 9:57pm

ICYMI: Alan Kohler’s Finance Report1h agoMon 22 Sep 2025 at 9:48pmGold hits new highs

In precious metals, gold prices hit fresh record highs, buoyed by investors’ heightened expectations of a dovish rate-cut path, ahead of remarks by Fed officials and key inflation data later in the week.

“There’s a continued flow of safe-haven demand amid geopolitical matters that are still kind of wobbly, including the Russia-Ukraine war. Last week’s Fed interest rate cut and probably more Fed rate cuts coming by the end of the year” are also supporting prices, said Jim Wyckoff, senior analyst at Kitco Metals.

Spot gold rose 1.74% to $3,747.67 an ounce. US gold futures rose 2.03% to $3,745.90 an ounce.

With Reuters

1h agoMon 22 Sep 2025 at 9:45pmNvida and Apple lift Wall Street

All three of the major indexes on Wall Street have posted record closing highs for a third straight session on Monday, as shares of Nvidia rose after it said it would invest up to $US100 ($152) billion in OpenAI.

Also boosting indexes, shares of Apple rose after Wedbush raised the stock’s target price on strong demand signs for the iPhone 17.

Some Fed officials made remarks doubting the need for further rate cuts. Last week, the US central bank cut rates by 25 basis points and indicated more cuts would come at its upcoming meetings.

Both St. Louis Fed President Alberto Musalem and Atlanta Fed President Raphael Bostic, in separate remarks, said that while the Fed’s quarter of a percentage point rate cut at last week’s meeting was appropriate as a way to manage the risk of rising unemployment, lowering inflation remains the priority.

However, Fed Governor Stephen Miran, who last week dissented when the Fed cut the benchmark rate by a quarter of a percentage point and said a half-point cut was warranted, said on Monday that monetary policy “is well into restrictive territory.”

“There needs to be a catalyst for stocks to move materially higher, and markets appear to be kind of ignoring potential headwinds,” said Oliver Pursche, senior vice president and advisor for Wealthspire Advisors in Westport, Connecticut.

“We’re not making any calls that are broad-based or trying to time the market, but we’re certainly pointing out to clients and having portfolios reflect that we’re at all-time highs and valuations are getting stretched.”

Also worrying some investors were US President Donald Trump’s new visa fees for foreign workers, which drew widespread condemnation from technology executives and others across social media.

With Reuters

2h agoMon 22 Sep 2025 at 9:24pmASX to open higher

Good morning and welcome to Tuesday’s markets live blog, where we’ll bring you the latest price action and news on the ASX and beyond.

A rally on Wall Street overnight sets the tone for local market action today.

The Dow Jones index was up 0.2%, the S&P 500 gained 0.4% and the Nasdaq Composite advanced 0.7%.

ASX futures were up 16 points or 0.2% to 8,867 at 7:00am AEST.

At the same time, the Australian dollar was down 0.1% to 65.94 US cents.

Brent crude oil was down 0.1%, trading at $US66.59 a barrel.

Spot gold gained 1.7% to $US3,745.

Iron ore rose 0.1% to $US106.60 a tonne