Stocks Mixed as Nvidia Seals $500B AI Pact, AstraZeneca Earnings Top Views
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U.S. stocks are mixed on Monday, with the Dow Jones Industrial Average gaining while the S&P 500 and Nasdaq Composite slip, as oil prices fall amid a pause in U.S.-Iran hostilities. The moves come as Nvidia announces a more than $500 billion partnership with SK Group for AI infrastructure, and AstraZeneca reports quarterly earnings that exceed analyst estimates. Nvidia shares fall 5.1% despite the massive deal, while AstraZeneca gains 1.2%.
Nvidia-SK Group AI Infrastructure Deal
Nvidia agreed to expand its partnership with South Korean conglomerate SK Group with a more than $500 billion artificial intelligence infrastructure initiative, announced Saturday. The deal includes a long-term pact for SK Hynix to provide a stable supply of next-generation AI memory chips, and the companies will co-develop high-bandwidth memory for AI training and agents. Separately, The Wall Street Journal reported that Nvidia is in talks to provide a $250 billion financial backstop for Microsoft-backed OpenAI for a data center project in Ohio that could exceed $500 billion.
AstraZeneca Earnings Beat
AstraZeneca posted Q2 core earnings of $2.63 per diluted share, up from $2.17 a year earlier and above the FactSet consensus of $2.49. Revenue rose to $15.38 billion from $14.46 billion, just shy of the $15.43 billion estimate. The company reiterated its 2026 outlook for low double-digit core EPS growth and mid-to-high single-digit revenue growth, and raised its interim dividend by 3 cents to $1.06 per share.
Other Corporate Developments
United Airlines pitched a merger to Delta Air Lines last year, but talks ended after Delta declined to pursue the proposal, The Wall Street Journal reported. The discussions reached preliminary due diligence, and came at a time when companies expected a friendlier regulatory environment under the Trump administration. Meanwhile, Baker Hughes reported adjusted earnings of $0.64 per share for Q2, up from $0.63 and above the $0.49 consensus, on revenue of $6.74 billion.
What's Next
Investors now turn to the Federal Reserve's upcoming policy decision and a heavy week of corporate earnings. It remains unclear whether the U.S.-Iran pause will hold and how it may affect oil prices and broader market sentiment.
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Stocks Mixed as Nvidia Seals $500B AI Pact, AstraZeneca Earnings Top Views
