Microsoft and Nvidia to invest up to $15bn in OpenAI rival Anthropic

Brookfield is in the process of raising $10 billion for a new AI infrastructure fund, with notable investors including Nvidia and the Kuwait Investment Authority. This initiative reflects the growing interest and investment in artificial intelligence technologies and infrastructure, signaling a robust market trend in the sector. The fund aims to capitalize on the increasing demand for AI capabilities across various industries.

The American exceptionalism trade is facing uncertainty as Nvidia's performance is set to influence market sentiment for the remainder of the year. Investors are closely watching Nvidia's upcoming earnings report, which is anticipated to provide critical insights into the sustainability of the AI boom. The outcome of this report could significantly impact investor confidence and market dynamics.

Japan's 10-year bond yields have reached their highest levels since the global financial crisis, driven by falling bond prices amid concerns regarding the prime minister's fiscal stimulus plans. Investors are apprehensive about the effectiveness of these measures in revitalizing the economy, leading to a negative sentiment in the market.

Asian stocks are experiencing a period of indecision as investors remain cautious ahead of Nvidia's upcoming earnings report. The technology sector, particularly Nvidia, is under scrutiny due to its significant influence on market sentiment. This uncertainty is compounded by broader concerns regarding tech valuations and economic indicators, leading to a fragile market environment.

Elon Musk has reignited his long-standing feud with Bill Gates after the Gates Foundation sold 65% of its Microsoft stake, resulting in an estimated gain of $8.8 billion. Musk took to X (formerly Twitter) to criticize Gates, particularly targeting his philanthropic efforts while holding a significant short position against Tesla. This public spat highlights the ongoing tensions between the two billionaires, reflecting Musk's disdain for Gates' financial strategies.

Nvidia's upcoming earnings report is poised to be a critical indicator for investors following a notable market pullback. The results are expected to provide essential signals regarding the company's performance and the broader technology sector's health, particularly in the context of the ongoing AI boom. Investors are closely monitoring these developments as they could significantly influence market sentiment on Wall Street.

Antoine Blondeau, cofounder of Alpha Intelligence Capital and an investor in OpenAI, highlights Singapore, South Korea, Taiwan, and India as key players in shaping the future of artificial intelligence (AI) in Asia. He emphasizes the potential of these markets to drive innovation and investment in AI technologies, positioning them as leaders in the global AI landscape.

Wall Street futures remained steady following a period of extended losses driven by concerns over Nvidia's upcoming earnings report and caution regarding nonfarm payroll figures. Investors are closely watching Nvidia's performance, which is seen as a critical indicator of the health of the technology sector and the broader market. The sentiment in the market reflects ongoing volatility and uncertainty regarding economic conditions, particularly in relation to technology stocks.