Investors on Wall Street once again grabbed equities at the start of the week. The Dow Jones index of standard stocks and the broader S&P 500 each gained about half a percentage point to 35,137 and 4544,14 points respectively on Monday. The index of the technology exchange Nasdaq advanced by a good one percent to up to 280,<> points.
Microsoft in particular was in the spotlight: With the ousted OpenAI boss on board, the software company climbed to a new record high. After Sam Altman's entry into Microsoft was announced, the stock jumped by two percent to a record $377.10 at the start of trading. As a result, the stock market value of the software giant increased by almost $54 billion.
That's more than ten times the amount Microsoft poured into OpenAI earlier this year. A few days after his surprise dismissal from OpenAI, the ChatGPT creator is now to lead a new team for the development of artificial intelligence (AI) at Microsoft.
Technology stocks were among the biggest gainers on Wall Street in November. All three major U.S. stock market indices had recently risen as investors bet on an end to interest rate hikes in view of easing price pressures in the U.S. However, before investors take on more risk, analysts say they are now waiting for further indications of when the US Federal Reserve could start cutting interest rates.