<span>STORY: Wall Street ended mostly higher on Monday, with the S&P 500 gaining about a third of a percent and the Nasdaq rising about seven tenths, while the blue-chip Dow fell marginally.</span><span>The record closing highs for the S&P and Nasdaq come despite the U.S. government shutdown extending through its sixth day.</span><span>Chip stocks took the lead after AMD said it would supply AI chips to OpenAI in a deal that could generate tens of billions of dollars in yearly revenue and would allow the ChatGPT creator to buy a stake of up to 10% in the chipmaker.</span><span>Shares of AMD surged nearly 24% after announcing the partnership.</span><span>Kevin Mahn, president and chief investment officer with Hennion & Walsh Asset Management, says the deal is a sign the AI space remains a great place to invest but he recommends investors look beyond the semiconductor stocks.</span><span>“As a portfolio manager, I look to where all of that money is being spent right now. And it’s with respect to building out these AI capabilities and the AI infrastructure. Some of that’s taking place with respect to the chip makers, but look towards data centers right now. Look to the power solutions that are necessary for those data centers. Look for the ancillary benefactors, such as the HVAC companies or the cooling solutions that these data centers needs. That’s where we’re seeing the money being spent right now, and that’s where we’re seeing even larger returns than where we’re seeing with the chips companies.”</span><span>Other stocks on the move included Tesla which climbed nearly 5 and a half percent as the electric car maker teased an event scheduled for Tuesday on social media platform X over the weekend.</span><span>And shares of Starbucks fell 5% after TD Cowen cut its price target on the stock, citing a weakening labor market affecting Generation Z.</span>
Bitcoin’s Gold Moment – The tastycrypto Show
