CNBC Daily Open: Nvidia denies rift with OpenAI, while software and asset management stocks plunge
Summary
AMD beat earnings estimates but guided below some expectations, sending its stock down in after-hours trading. Nvidia’s CEO Jensen Huang denied any drama with OpenAI and said partnerships remain on track amid reports the company’s investment is “on ice.” Software stocks slid sharply—ServiceNow and Salesforce plunged nearly 7%—as investors weigh how AI could affect software company valuations, and asset managers with private credit exposure also sank. The report notes broader market moves, a brief government shutdown resolution, upcoming PMI releases, and other headline items like executive changes and merger valuations.
Classifications
industries
Fintech & Banking
applications
Governance, risk and compliance
AskAI Classifications
Labels
WealthTech
SaaS
Financial Software
Linked Companies
iCapital
$250M to $500M