ASX SET TO RISE AS WALL STREET CLIMBS; NVIDIA CONFIRMS $100B OPENAI INVESTMENT

Australian shares are expected to open higher on Tuesday after Wall Street notched another day of gains, driven by optimism in the tech sector and renewed enthusiasm for artificial intelligence.

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The spotlight was firmly on Nvidia, which confirmed a staggering $100 billion investment in OpenAl, cementing its role as the financial and technological backbone of the Al boom.

WALL STREET RALLY CONTINUES

The S&P 500 rose for a fourth straight session, with tech stocks once again leading the charge. Nvidia, Microsoft, and Alphabet all posted gains, as investors bet on continued demand for advanced computing power to fuel the next generation of Al models. The Nasdaq Composite climbed nearly 2%, putting it back within striking distance of all-time highs.

The rally followed fresh U.S. economic data showing inflation pressures easing, reinforcing expectations that the Federal Reserve will hold interest rates steady for the remainder of the year. Lower borrowing costs are especially supportive of tech companies, which rely heavily on capital spending.

NVIDIA'S RECORD AI INVESTMENT