Dow Jones rebounds as AMD-Meta deal lifts sentiment
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The Dow Jones Industrial Average is up around 425 points, or 0.85%, reclaiming the 49,000 figure in a broad rebound from Monday’s steep AI-led software selloff. The S&P 500 is gaining around 0.6% while the Nasdaq Composite is advancing roughly 0.9%, led by strength in semiconductor names. Monday’s session saw the Dow shed 822 points as fears over AI disruption to software and consulting businesses combined with fresh tariff uncertainty following US President Trump’s move to raise global tariffs to 15% under Section 122 of the Trade Act. Tuesday’s bounce is being driven by a landmark chip deal between AMD and Meta, an earnings beat from Home Depot, and better-than-expected consumer confidence data. AMD surges on blockbuster Meta AI chip deal Advanced Micro Devices (AMD) is surging around 8% after announcing a multi-year agreement with Meta Platforms Inc. (META) to deploy up to 6 gigawatts of AMD Instinct GPUs across Meta’s AI data center infrastructure. The deal, worth tens of billions of dollars per gigawatt according to AMD CEO Lisa Su, includes shipments of custom MI450-based GPUs beginning in the second half of 2026. As part of the agreement, AMD has issued Meta a performance-based warrant for up to 160 million shares of AMD common stock, structured to vest as shipment milestones are achieved. The deal mirrors a similar arrangement AMD struck with OpenAI last October and arrives just days after Meta committed to using millions of Nvidia Corporation (NVDA) chips in a separate partnership, underscoring Meta’s portfolio approach to AI infrastructure. Nvidia shares are largely flat ahead of Wednesday’s highly anticipated quarterly earnings report. Home Depot beats estimates amid frozen housing backdrop Home Depot (HD) is climbing around 3% after posting fourth-quarter results that topped Wall Street expectations. Adjusted earnings per share (EPS) came in at $2.72, well above…
Filed under: News - @ February 24, 2026 4:28 pm