MRKT Matrix Nvidia Fuels Another S&P 500 Record Close
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Oct 28, 2025 The S&P 500 hits a record high as investors ramp up AI stock purchases ahead of the Fed's decision. Nvidia's $1 billion investment in Nokia boosts its stock and positions it for major advancements in AI and 5G technology. Microsoft deepens its partnership with OpenAI, reshaping valuation expectations. Meanwhile, PayPal raises earnings guidance thanks to its integration with OpenAI. In the labor market, UPS announces significant job cuts, while Amazon also lays off workers, showing the balancing act of tech growth and workforce adjustments.
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AI Trade Fuels Record S&P Highs
- The S&P 500 hit record highs as investors chased AI exposure ahead of the Fed decision.
- NVIDIA led gains while Microsoft and Apple topped $4 trillion, signaling concentrated AI-driven market leadership.
Microsoft Strengthens OpenAI Partnership
- Microsoft deepened its OpenAI ties, taking a roughly $135 billion estimated stake after OpenAI became a public benefit corporation.
- The deal extends Microsoft's IP rights through 2032 and keeps OpenAI tied to Azure as its exclusive frontier model partner until AGI verification.
Valuation Surge And IPO Signal
- The Microsoft–OpenAI announcement helped push Microsoft above a $4 trillion valuation alongside NVIDIA and Apple.
- Sam Altman said OpenAI is on a path to an IPO but has no immediate plans, keeping future governance and monetization open.