US stocks rise to new records as OpenAI and AMD (AMD) announce a massive AI computing partnership that includes OpenAI taking a 10% stake in the chipmaker. The deal cements AMD’s position as Nvidia’s (NVDA) top challenger in the race for AI dominance, with OpenAI agreeing to purchase six gigawatts of AMD’s Instinct GPUs over several years. Fifth Third Bancorp (FITB) will acquire Comerica (CMA) in an all-stock deal valued at $10.9 billion, creating the nation’s ninth-largest bank by assets. Bitcoin (BTC-USD) topped $125,000 and gold surged to record highs as investors hedge against the ongoing US government shutdown. In corporate shakeups, Verizon (VZ) named former PayPal CEO Dan Schulman as its new chief executive, replacing Hans Vestberg. Abroad, France’s prime minister abruptly resigned after less than a month on the job, while Japan prepares to swear in its first female prime minister, sparking a 4.7% surge in the Nikkei.

Takeaways:

OpenAI buys 10% of AMD in landmark AI chip partnership
Fifth Third to acquire Comerica in $10.9B regional bank merger
Gold and bitcoin rally to all-time highs amid US shutdown
Verizon names Dan Schulman CEO; Japan elects first female prime minister

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OpenAI takes 10% stake in AMD, merger Monday, gold and Bitcoin soar