Fresh tensions in the Middle East are weighing on markets this morning, with oil prices jumping and the Dow industrials slipping.
But one familiar area is offering investors a bright spot: AI
Most Read from The Wall Street Journal Nvidia shares are climbing after the world’s most-valuable company unveiled its new superchip, which it described as “the most efficient PC chip ever built.” Companies that are working with Nvidia on its move into the PC world, including Dell Technologies and HP, also are rising. The moves follow euphoria in other AI-focused corners of the market earlier Monday. SoftBank Group shares surged 14% to dethrone Toyota as Japan’s largest company by market capitalization.
South Korea’s Kospi index, which is dominated by AI chip makers Samsung and SK Hynix, rallied, bringing its year-to-date gains to 109%. Still, the war in Iran remains front and center. Brent crude futures are up more than 5% to trade near $96 a barrel after Iran’s semi-official Tasnim news agency reported that the country was suspending negotiations with the U.S. over Israel’s conduct.