Futures for the Dow Jones, S&P 500, and Nasdaq were relatively unchanged on Friday morning as the stock market rallied near record highs. The Dow Jones briefly surpassed 40,000 intraday on Thursday.
Microsoft announced that cloud-computing customers will have the option to use AI chips from Advanced Micro Devices (AMD) instead of Nvidia processors. This news caused AMD stock to rise as it attempted to regain a key level while Nvidia remained in a buy range. Additionally, Applied Materials saw a slight increase after a positive earnings report and is trading around a buy point. Reddit stock also surged after forming an alliance with Microsoft-backed OpenAI.
In premarket trading, Dow Jones futures showed a slight decrease, while S&P 500 futures remained flat, and Nasdaq 100 futures increased by 0.1%. These numbers do not always indicate how the market will perform during the regular trading session.
Applied Materials earnings beat expectations, causing AMAT stock to move closer to a buy point. Copart’s earnings were in line, resulting in a minimal change in their stock price. Additionally, Reddit saw a significant increase in stock price due to a new partnership with OpenAI.
Microsoft’s Azure cloud-computing service will now give customers the option to use AMD’s AI chips, competing with Nvidia’s offerings. AMD stock rose early on Friday, while Nvidia stock slightly declined. Microsoft also announced the introduction of its Cobalt 100 processors at an upcoming conference.
Investors should keep a close eye on Nvidia’s earnings report on May 22, as it is expected to impact the stock and other AI-related companies. For more stock market updates and information, follow various industry experts on social media platforms.
