Markets Mixed After AI Rally, Nvidia-OpenAI Deal

Global equity markets cooled after an AI-fueled rally pushed indexes to record highs, leaving stocks mixed as investors weighed buying the dip against profit-taking. Volatility centered on big tech after Nvidia announced a major investment in OpenAI, which lifted the sector but also prompted profit-taking, while Micron reported stronger-than-expected results that boosted its stock. Investors were focused on Federal Reserve signals and awaited remarks from Chair Jerome Powell, paring expectations for the pace and size of future rate cuts amid mixed central-bank messaging. Safe-haven assets outperformed: gold hit record highs while bond yields showed little directional change as traders hedged against equity risk and inflation uncertainty. The market tug-of-war reflects robust AI-driven fundamentals, valuation concerns, and macro risks that could keep trading choppy near current highs.