Tonight’s Highlights | U.S. Stock Index Futures Rise Pre-Market, AMD Soars 35%
On Monday (October 6), U.S. stock index futures climbed collectively pre-market, with Nasdaq futures leading the gains, driven by positive news of a new AMD-OpenAI partnership.
As of this report, Dow Jones futures rose 0.24%, S&P 500 futures gained 0.32%, and Nasdaq 100 futures jumped 0.84%.
Shortly before this report, OpenAI and AMD announced on their websites a deal to deploy 6 gigawatts (GW) of AMD GPU computing power. AMD’s stock surged over 35% pre-market, while competitor Nvidia dipped 1.4%.
Earlier in the day, Fifth Third Bank announced a $10.9 billion all-stock acquisition of regional bank United Community Bank. The merged entity will become the ninth-largest U.S. bank by assets. United Community’s stock rose over 13% pre-market, and the SPDR S&P Regional Banking ETF gained over 1%, reflecting expectations of more deals in the sector.
Critical Metals soared over 40% pre-market after reports that the Trump administration may invest in the company, which is developing the Tanbreez rare earth mine in Greenland.
Crypto-related stocks also rose pre-market, with Circle up 2.5%, Strategy up 2.8%, and BitMine Immersion Technologies up nearly 5%, following Bitcoin’s brief surge past $125,000 per coin.
Last week, the three major U.S. indices hit new highs, with weekly gains of 1% to 2%. Meanwhile, the federal government remains in “shutdown,” with the Labor Department halting nearly all activities, delaying the September nonfarm payrolls report.
Fundstrat’s research head Tom Lee wrote: “We see this as a ‘minor’ issue, and the stock market is likely to stay strong in Q4. We expect the S&P 500 to reach at least 7,000 by year-end, possibly higher.”
Lee added, “We suggest closely monitoring the chaos from the government shutdown. If the market shows notable weakness, I’d use it as a ‘buy-the-dip’ opportunity.”
In Europe, markets were mixed: Germany’s DAX rose 0.1%, the UK’s FTSE 100 gained 0.16%, while France’s CAC 40 fell 1.41% after outgoing Prime Minister Lecornu remarked that “governing France is a tough task.”
Earlier, Japan’s two major indices closed at record highs, with the Nikkei 225 surging 4.75%. Over the weekend, Sanae Takaichi, who advocates for aggressive fiscal policy, won Japan’s LDP leadership election.
Spot gold broke through $3,900, hitting a record high of $3,949.63 per ounce.
Company News
AMD and OpenAI Strike Massive Computing Infrastructure Deal
OpenAI announced a partnership with AMD to deploy 6 gigawatts (GW) of AMD GPU computing power. The infrastructure will leverage multiple generations of AMD Instinct GPUs, with the first 1 GW of AMD Instinct MI450 GPUs set to roll out in the second half of 2026.
As part of the deal, AMD issued OpenAI warrants for up to 160 million AMD shares, vesting in phases tied to the initial 1 GW deployment and expanding to 6 GW.
Fujitsu Expands Strategic Partnership with Nvidia to Build Full-Stack AI Infrastructure
On October 3, Japan’s Fujitsu announced an expanded strategic partnership with Nvidia to develop a full-stack AI infrastructure integrating AI agents. The collaboration aims to boost enterprise competitiveness while maintaining autonomy in AI applications, focusing on industry-specific AI platforms for healthcare, manufacturing, and robotics, and integrating Fujitsu’s MONAKA CPU series with Nvidia GPUs via NVLink Fusion technology.
Musk Responds to Tesla Robot Kung Fu Video: It’s AI, Not Remote-Controlled
On October 4, Elon Musk shared a video on X of Tesla’s Optimus robot sparring with a human worker. Addressing whether the “fight” was AI-driven or remotely controlled, Musk clarified in the comments: “It’s AI, not remote-controlled.”
U.S. Aerospace Firm Firefly to Acquire National Security Tech Company SciTec for ~$855 Million
Firefly Aerospace announced a definitive agreement to acquire national security tech firm SciTec for ~$855 million, with $300 million in cash and $555 million in Firefly stock at $50 per share. The deal will integrate SciTec’s mission-proven defense software analytics, remote sensing, and multimodal data expertise, enhancing Firefly’s comprehensive aerospace capabilities. The transaction is expected to close by year-end.
Novo Nordisk Parent Invests in World’s Largest Quantum-Focused Venture Fund
Novo Holdings, parent of Novo Nordisk, backed the creation of 55 North, a quantum-focused venture fund that raised ~€300 million in its first round, with €134 million from Novo Holdings and Denmark’s Export and Investment Fund (EIFO) as cornerstone investors. It’s now the world’s largest quantum-specific venture fund.
Multiple Chip Giants Raise Product Prices, Morgan Stanley: Memory Chip Sector Nears Super Cycle
Over the past six months, global memory chip prices have risen steadily, with price hike announcements intensifying in the last month. Major players like Samsung and SanDisk have notified customers of price adjustments, and spot market prices have surged rapidly. Capital markets have reacted strongly, with several chipmakers’ stocks hitting record highs.