Nasdaq Hits ATHs as Nvidia Bankrolls OpenAI’s $100B Power Hog… Apple Milks Its Cult Dry

Dan Ives probably creamed his hot pink pants after the Nvidia/OpenAI news dropped…

The S&P 500 (+0.4%) and Nasdaq (+0.6%) hit fresh all-time highs to start the week off on a high note, and you can thank Jensen Huang’s “infinite ammo” approach to AI spending. Nvidia (+4% intraday) announced it’s dropping $100 billion into OpenAI to build out monster data centers running on (you’ll never believe it) Nvidia GPUs.

For context, we’re talking about 10 gigawatts of electricity here… roughly 4 to 5 million Nvidia GPUs humming in perfect harmony… or about as much electricity as (insert your favorite big city) burns through in a year. Jensen summed it up in one word: “monumental.” Translation: Dan Ives already added three zeros to his NVDA price target… and texted his producer at CNBC: “Book me. Now.”

Then Sam Altman showed up and whispered, “Everything starts with compute.” Thanks, Obi-Wan. Next week maybe he’ll remind us that water is wet and fire is hot.

Oracle (+4%) also caught a bid, not only because AI hype lifts all boats, but because they promoted Clay Magouyrk and Mike Sicilia to co-CEOs while Safra Catz slides into executive vice chair. That now puts the stock up 42% this month and 110% since March. If you’re up big in Oracle… now might be a good time to take some profits before it comes back to reality.

Apple (+4%) exploded on iPhone 17 demand. No matter how badly Timmie fumbles his AI dreams, the Apple faithful will still line up every fall… shelling out a grand for an extra ten minutes of battery life and a “smoother touchscreen,” whatever the heck that means.

Teradyne (+10%) jumped after Susquehanna boosted its target to $200 thanks to a wafer sort deal with TSMC. Think of them as Disney’s Lightning Lane for GPUs (pay extra just to skip the line) and Wall Street’s sprinting with mouse ears on.

Of course, DC’s doing its best to f*** it all up. The Senate still hasn’t passed a funding bill, so yes, the government could technically shut down on Sept. 30. Traders, though, just rolled their eyes and kept scrolling… because rates are already being cut (two more likely before year-end) and Powell’s got the mic tomorrow. As CFRA’s Sam Stovall put it: “Unless something goes to hell in a handbasket,” markets are heading higher. Translation: buy the dip, dummy.

Argentina went off the rails Monday. The Global X Argentina ETF (ARGT) ripped 6.5% after Treasury Sec. Scott Bessent promised to throw the peso a life jacket. The Merval took flight too… because few things moon harder than South American equities when Uncle Sam flashes the bailout Bat-Signal.

So yeah, once again, Nvidia put the entire stock market on its back and said “let’s ride.” But if our clowns in DC don’t figure out how to avoid a government shutdown over the next 8 days… I don’t think even Daddy Jensen could save us. For now though, as the great Buzz Lightyear once said, “To infinity… and beyond!” 

And for all you gangsters following our Stock Prophet Watchlist, your patience over the last few days was rewarded BIGLY. Our early alert this morning BOXL ripped 180% today after we called it out. Make sure you have notifications turned on so you don’t miss a single alert.

If you read all of this, congrats for having a 10 second attention span (better than me). As always, here’s our heatmap for today.

At the time of publishing this article, Stocks.News holds positions in Apple and Disney as mentioned in the article.