Economy

SoftBank ditches Nvidia for second time – this time to fund $22.5B OpenAI bet.

IREN stock was soaring on Monday after the Australian company agreed a $9.7 billion deal to sell artificial-intelligence cloud capacity to Microsoft. The tech giant is spending billions on data centers in the UAE and securing new capacity from IREN in Texas to meet massive AI demand.

Markets worldwide commenced November trading with widespread advances Monday as OPEC+ announced plans to halt oil production increases for the opening quarter of 2026, sending energy stocks higher while uncertainty over Federal Reserve rate policy pressured the dollar and cryptocurrency markets.

According to a US report, Meta plans to borrow $25 billion over a 40-year period to accelerate its investments in data centers. The announcement sparked investor fears that the company is falling behind in the field of artificial intelligence. In response, the stock plunged 11.5% in New York.

With a market cap of$ 5 trillion, NVIDIA is now worth more than 6 JPMorgan Chases, more than double of Canada's entire economic output ($2.39T), and equals the combined value of hundreds of mid-cap companies. One chipmaker has become an economic superpower.

Streaming giant's revenue rises 17% despite per-share earnings coming in below Wall Street projections due to unforeseen international tax expense.

The US stock market plummeted after President Donald Trump declared he would impose 100% tariffs on imports from China. The announcement, made after the markets closed, followed a day of heavy losses spurred by his earlier threat, which had been posted mid-trading on his social media platform, Truth Social. The move came in response to new export restrictions from Beijing on rare earth elements — critical materials for industries such as electronics, automotive, and aerospace.

For data centers, Intel will build NVIDIA-custom x86 CPUs that NVIDIA will integrate into its AI infrastructure platforms and offer to the market.

Investor confidence in the Israeli economy was shaken Tuesday following a controversial "Sparta speech" by Prime Minister Benjamin Netanyahu, in which he warned Israel must prepare for international isolation by turning to self-sustenance.

Prime Minister Benjamin Netanyahu warned that Israel is entering a period of diplomatic isolation that could force the country to operate under a closed economy and rely primarily on its own resources.