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S&P 500, Nasdaq rise on Amazon-OpenAI deal
Business World Philippines
|November 05, 2025
The S&P 500 and the Nasdaq closed higher on Monday, with artificial intelligence (AI)-related deals driving much of the gains even as the US Federal Reserve's near-term monetary policy grew increasingly foggy due to scarcity of official US economic data.
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Tech and tech-related firms helped boost the Nasdaq to the biggest gain. Healthcare companies UnitedHealth Group and Merck, falling 2.3% and 4.1%, respectively, held the Dow in negative territory.
Among the major drivers to the upside, Amazon announced it struck a $38-billion deal with OpenAI to allow the ChatGPT maker torunand scale its artificial intelligence workloads on Amazon Web Services’ cloud infrastructure. Amazon’s stock advanced 4%.
Nvidia shares gained 2.2% after US President Donald J. Trump said the AI chipmaker’s most advanced microchips will be reserved for US companies and kept out of China and other countries.
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