Live Nasdaq Composite: Market Sentiment Sours as Intel Drops 4% on Stock Offering Plans and Oil Prices Rise
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Nvidia’s AI infrastructure story is moving deeper into Wall Street’s balance sheet. According to the Financial Times, the company is working with major financial groups on a funding package that could reach $500 billion for AI infrastructure development.
The reported consortium includes Apollo Global Management (NYSE: APO), Blackstone (NYSE: BX), BlackRock’s Global Infrastructure Partners unit, Brookfield Asset Management (NYSE: BAM), Goldman Sachs (NYSE: GS), and KKR (NYSE: KKR).
NVIDIA is sitting at the center of both the AI hardware demand and the capital needed to build around it.
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Berkshire Hathaway (NYSE: BRK.B) moved higher after quarterly profit more than doubled, helped by investment gains and stronger results from its industrial and retail operations.
Super Micro Computer (Nasdaq: SMCI) and Applied Materials (Nasdaq: AMAT) also traded higher, giving the chip complex a modest lift after recent volatility.
Varex Imaging (Nasdaq: VREX) was the standout mover, surging after Teledyne Technologies (NYSE: TDY) agreed to buy the X-ray imaging components maker for about $1.1 billion. The deal put M&A back in focus and gave small-cap industrial tech one of the day’s cleanest catalysts.
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JPMorgan lifted its year-end S&P 500 target to 8,000 from 7,800, giving the index about 3% upside from Friday’s close. Analysts are leaning into the earnings side of the AI story, arguing that stronger cloud growth, rising backlogs, and customer demand are starting to justify the market’s massive infrastructure spend. JPMorgan expects AI investment to account for more than half of the S&P 500’s roughly $1.5 trillion in capex this year.
This article will be updated throughout the day, so check back often for more daily updates.
The Nasdaq slipped as investors moved through a more cautious tape, with geopolitics and fresh stock-specific pressure keeping buyers on edge. On the heels of the broader market’s record performance last week, the Nasdaq Composite fell 0.3%, while the S&P 500 hovered just below the flatline and the Dow lost 78 points, or 0.2%.
The market’s biggest macro overhang remained the Strait of Hormuz. Iran has said it is nearing a deal with Oman to reopen the key oil route, but doubts lingered over whether a lasting resolution with the U.S. is close. That uncertainty pushed crude higher, with WTI rising about 2% above $80 per barrel and Brent climbing 2% above $85.
Intel (Nasdaq: INTC) added another drag on tech, falling 4% after announcing plans to raise $15 billion through a common-stock offering. The move gave investors a fresh dilution concern just as Wall Street was already balancing AI optimism, higher oil prices, and a still-fragile geopolitical backdrop.
Here’s a look at where things stand as of early morning trading:
Dow Jones Industrial Average: 54,038 Down 0.21%
Nasdaq Composite: 29,797 Down 0.12%
S&P 500: 7,776 Down 0.04%
Market Movers
Microsoft (Nasdaq: MSFT) is reportedly preparing to introduce its next-generation Maia 300 AI chip in September, giving investors a fresh checkpoint on its custom silicon push. If Microsoft can use more of its own chips inside Azure and eventually sell capacity tied to Maia to major customers, it could reduce dependence on outside suppliers while tightening its grip on the AI infrastructure stack.
SpaceX’s (Nasdaq: SPCX) retail fan base showed its first real crack, with individual investors selling a net $4.5 million of shares Friday, according to Vanda Research. The turn comes after the stock gave back its early post-IPO pop, sliding from a peak 67% above its $135 debut price to more than 22% below that level, a sharp reversal for one of the year’s most watched listings.
Legacy chipmaker Intel (Nasdaq: INTC) is turning to the equity market for cash, announcing plans to raise $15 billion through a common-stock sale. The move gives Intel more capital for its turnaround and manufacturing ambitions, but it also puts dilution back in focus for investors already weighing the cost of rebuilding the company’s chipmaking edge.
Apple (Nasdaq: AAPL) caught a sharper analyst reset after Jefferies downgraded the stock to Underperform and cut its price target to $263.66 from $285.56. The firm cited supply-chain checks suggesting the all-glass iPhone expected for September 2027 has been canceled because of low yields, calling it a major setback as Apple tries to push higher-priced iPhones into a market already dealing with soaring memory costs.
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