Investors returned to artificial intelligence-related stocks on Monday, driving notable gains across tech names in the U.S.

• Nvidia surged 5.8%,
• Broadcom gained 2.6%, and
• Microsoft climbed 1.9%, ending its eight-day losing streak, the longest since 2011.

Market optimism was partly fueled by the potential end of the U.S. government shutdown, with the Senate voting on a reopening deal. The agreement still needs approval from the House and a presidential signature from Donald Trump, who has already expressed support.

Mixed Signals from AI Infrastructure

CoreWeave, which rents Nvidia GPUs to AI firms like Google and Microsoft, reported Q3 revenue up 134% year-on-year, surpassing expectations. However, the company still posted a net loss and issued lower-than-expected guidance for the year, highlighting the high-revenue, high-loss dynamic common in AI infrastructure businesses, reminiscent of OpenAI’s early financials.

Market Context

• The Nasdaq Composite jumped 2.27%, leading tech-driven gains.
• Europe’s Stoxx 600 rose 1.42%, with technology and financial stocks in focus.
• Fed Governor Stephen Miran suggested a half-point rate cut may be appropriate to align policy with economic trends.

Mark Haefele, CIO of UBS Global Wealth Management, emphasized that “AI-related stocks should drive equity markets,” underscoring the central role of AI in market sentiment despite lingering concerns about valuations.

Investors remain watchful of the evolving U.S. fiscal and policy landscape, with the potential resolution of the shutdown providing a short-term boost to risk appetite and tech equities.