Key momentsSign up for our daily business newsletter hereAnalysts divided over the move
Nvidia’s plan to invest up to $100 billion in OpenAI sent a jolt through Asian markets overnight and the South Korea and Taiwan markets both posted all-time highs.
It came after Wall Street’s three main stock market indices also scaled new records. The bulk of the gains were driven by megacap technology stocks.
Analysts’ opinion, however, seems divided. Bulls see it as OpenAI acknowledging there is no alternative to Nvidia’s powerful chips, but others wonder why Nvidia is funding a customer to buy its equipment.
Raspberry Pi, one of a dwindling number of technology-focused stocks listed in London, will give an early indication of whether UK investors buy the glass-half-full argument when it releases interim results before markets open.
Shares in the micro computer maker have fallen 35 per cent since the start of the year on fears that the group will be hit by tariffs on the components.