Today’s S&P 500 Update: AMD Soars on OpenAI Partnership, While AppLovin Takes a Dive!

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Today’s S&P 500 Update: AMD Soars on OpenAI Partnership, While AppLovin Takes a Dive!

A big shake-up happened in the stock market recently, driven by a notable AI partnership and some unsettling news for another firm. On Monday, October 6, 2025, shares of Advanced Micro Devices (AMD) jumped sharply after it announced a collaboration with OpenAI, the company behind ChatGPT. This deal is significant because it involves AMD supplying several generations of AI chips to OpenAI, which may also invest in AMD.

The boost to AMD meant it rose nearly 25% during the trading session, outperforming all other stocks in the S&P 500. This partnership reflects a growing trend where tech firms are leaning on AI to drive innovation and market growth. Recent data indicates that over 86% of companies see AI as a key driver for future business success, highlighting a collective shift toward this technology.

Other stocks tied to AI saw gains too. Companies like Monolithic Power Systems and Super Micro Computer climbed over 5%. DoorDash and Uber also performed well, receiving mentions during OpenAI’s recent conference.

Meanwhile, Tesla’s stock rose about 5.5% as rumors floated about an upcoming announcement on more affordable electric vehicles. This aligns with comments from Tesla leadership about releasing budget-friendly models soon, appealing to a broader audience as electric vehicles become more mainstream.

On the flip side, AppLovin faced a rough day. Its shares dropped 14% following reports that the Securities and Exchange Commission (SEC) is investigating its data practices. This was a sharp contrast to its strong performance this year, where it had seen an 80% rise. User reactions on social media reflected frustration, as many had only recently celebrated the company’s success.

Verizon also struggled, with shares down 5.1% after appointing Dan Schulman, former CEO of PayPal, as its new leader. Investors are keen on how Schulman, who has been with Verizon’s board since 2018, will steer the company, especially with its ongoing acquisition of Frontier Communications.

The overall market had a mixed day, with the S&P 500 up 0.4% and the Nasdaq gaining 0.7%, while the Dow dipped slightly. These shifts underscore the volatile nature of the market, now heavily influenced by tech advancements and regulatory concerns. It’s a lively time for investors as they navigate these changes.

Staying informed and keeping an eye on market trends is crucial, especially as companies adapt to the ever-evolving technology landscape. For more detailed reporting, check out sources like Investopedia.



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