Overview
- Amazon and OpenAI signed a multiyear, roughly US$38 billion agreement for OpenAI to run and scale its AI workloads on Amazon Web Services, helping the S&P 500 and Nasdaq close higher as Amazon hit a record.
- South Korea’s KOSPI set an all-time closing high at 4,221.87 on Nov. 3, powered by chipmakers after Nvidia’s pledged GPU supply and cooperation signals with Samsung and SK hynix.
- The Seoul rally quickly met profit-taking on Nov. 4, with the KOSPI down about 1.6% late morning as foreigners and institutions sold and leaders like Samsung Electronics and SK hynix retreated.
- Palantir reported third-quarter results above estimates and raised guidance, with management citing accelerating demand for its AI platform as shares rose following the release.
- Fed officials offered differing views on further rate cuts, leaving the policy path uncertain and contributing to concerns about narrow market breadth despite broadly solid tech earnings.