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News
Wednesday, October 08, 2025
What’s happening: Several companies have announced AI deals, lending support to the equity markets.
What happened: Both Nvidia and Advanced Micro Devices (AMD) have inked deals with ChatGPT-maker OpenAI.
Nvidia has also announced a massive deal with Intel, while pharma major AstraZeneca has inked an AI deal with Algen.
Why it matters: More than 80% of respondents in the latest survey by global technology intelligence firm ABI Research said they plan to use AI for various applications, including demand forecasting, inventory management and supply chain network design. The AI boom has driven several big companies to make massive investments for chips and computing power.
Some of those collaborations, worth billions of dollars, have significantly raised company valuations, sending US stock indices to new highs, even amid government policy uncertainty and the ongoing federal government shutdown.
US-based biotech company Algen said on Monday that it had entered into an agreement to grant AstraZeneca a license to develop therapies using its AI-driven gene-editing platform, in a deal worth up to $555 million.
On the same day, AMD announced a deal with OpenAI to sell chips in exchange for a 10% stake in the ChapGPT parent.
The news came just weeks after Nvidia inked a deal to invest $100 billion in OpenAI, helping cement the chip giant as a leader in the AI race. The news sent Nvidia’s stocks to fresh highs, up more than 3%, which is equivalent to around $200 billion.
Nvidia has also agreed to invest $5 billion in Intel’s stock for designing and manufacturing custom datacentre and client CPUs with Nvidia NVLink.
Last month, Oracle and OpenAI said they were collaborating with Japan’s SoftBank Group to spend $500 billion on additional datacentre.
Share prices: Nvidia’s stock has surged by around 93% over the past six months, while shares of Advanced Micro Devices have jumped more than 170%.
What to watch: Investors will continue monitoring major AI deals by big companies, which could drive equity valuations moving forward.
Context: The JPY/USD forex pair fell this morning as investors digested the latest economic reports.
Details: Data released this morning showed that the Reuters Tankan index for Japanese manufacturers fell to +8 in October, from a three-year high of +13 in the previous month. This also marked the first decline in four months, with companies facing headwinds from US tariffs and rising costs.
Japan’s current account surplus shrunk to ¥3,775.8 billion in August, from ¥3,966.1 billion in the year-ago month. The figure, however, came in better than market expectations of ¥3,540 billion.
Nominal wages in Japan surged 1.5% year-over-year in August, easing from July’s 3.4% jump and missing market expectations of a 2.6% gain.
Investors also weighed the political outlook after Sanae Takaichi won the race to become Japan’s next Prime Minister.
Strength in the US dollar weighed on the JPY/USD forex pair. The US dollar index, which measures the greenback’s performance versus a basket of major peers, rose 0.2% to 98.80 this morning.
The JPY/USD pair fell around 0.4% to 152.45 this morning, while the Nikkei 225 gained 0.23% to 48,063.49.
What to watch: Data on Japan’s foreign bond investment (0350 UAE Time) and stock investment by foreigners (0350 UAE Time) will be released on Thursday. Bond investments by Japanese abroad fell by ¥162 billion in the week ending September 27, while stock investments by foreigners in Japan dipped ¥963.30 billion during the week.
Other Markets: European indices closed mixed on Tuesday, with the FTSE 100, DAX 40 and CAC 40 up by 0.05%, 0.03%, and 0.04%, respectively, and the STOXX Europe 600 Index down by 0.17%.
Russia’s President Vladimir Putin said that its military had liberated more than 5,000 square kilometres of territory and that Ukraine’s military forces are retreating in major areas. The news sent the RUB/USD pair higher in forex trading this morning.
Australia’s private house approvals declined by 2.6% to 9,027 units in August, following a 1.3% gain in the previous month, which exerted pressure on the AUD/USD forex pair.
Colombia’s annual inflation rate accelerated to 5.18% in September, from 5.1% in the previous month, which sent the COP/USD pair lower in forex trading this morning.
Mexico’s car production declined 6.1% year-over-year to 355,525 units in September. This being the steepest contraction since April exerted pressure on the MXN/USD forex pair.
Canada’s Ivey Purchasing Managers Index rose to 59.8 in September, from 50.1 in the previous month. Although the figure topped market estimates of 51.2, the CAD/USD pair fell in forex trading this morning.
UK’s Treasury Gilt 2029 auction (1300 UAE Time), Germany’s 15-year Bund auction (1330 UAE Time) and new car registrations (1400 UAE Time), US MBA mortgage applications (1500 UAE Time), EIA crude oil stocks change (1830 UAE Time), EIA gasoline stocks change (1830 UAE Time), EIA Cushing crude oil stocks change (1830 UAE Time), EIA distillate stocks change (1830 UAE Time), EIA heating oil stocks change (1830 UAE Time), 17-week Bill auction (1930 UAE Time), 10-year Note auction (2100 UAE Time) and FOMC minutes (2200 UAE Time), Brazil’s car production (1700 UAE Time) and new car registrations (1700 UAE Time), Canada’s 2-year Bond auction (2000 UAE Time), as well as Argentina’s industrial production (2300 UAE Time).
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