The Nasdaq topped 23,000 for the first time ever Tuesday, and the S&P 500 also reached a new intraday peak shortly after the opening bell. But stocks gave back early gains on a report from inside Oracle that seems to show the AI revolution could prove to be a long and difficult process in terms of profits.<\/p>\n
According to The Information<\/a> (in a paywall-protected article), internal documents show Oracle<\/strong> (ORCL<\/a>, -2.4%) lost $100 million during its fiscal 2026 first quarter on rentals of Nvidia<\/strong> (NVDA<\/a>, -0.3%) Blackwell chips. Oracle stock had its best day in 32 years when it reported first-quarter earnings<\/a> last month.<\/p>\n <\/p>\n Regarding the $100 million loss, Oracle management noted a delay between building a data center and generating revenue from paying customers for using its services. On a day when the earnings calendar<\/a> is bereft of big names and the economic calendar<\/a> lacks big numbers, things like this move markets.<\/p>\n From just $107.88 $24.99 for Kiplinger Personal Finance<\/p>\n Be a smarter, better informed investor.<\/p>\n <\/p>\n \nCLICK FOR FREE ISSUE\n<\/p>\n <\/a><\/p>\n Sign up for Kiplinger\u2019s Free Newsletters<\/p>\n Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more – straight to your e-mail.<\/p>\n Profit and prosper with the best of expert advice – straight to your e-mail.<\/p>\n So does the White House, when it approves a major infrastructure project and announces a $35.6 million investment in what until Monday’s closing bell was a $343 million small cap stock<\/a>.<\/p>\n <\/p>\n Trilogy Metals<\/strong> (TMQ<\/a>, +211.0%) is yet to generate meaningful sales from its mining operations, but the stock now has a market cap<\/a> north of $1 billion.<\/p>\n Why? Because late Monday, President Donald Trump<\/a> directed the Bureau of Land Management, the National Park Service and the U.S. Army Corps of Engineers to reissue necessary permits for construction of the 211-mile Ambler Road from the Dalton Highway to Alaska’s Ambler Mining District.<\/p>\n The road will enable access to large deposits of copper, cobalt, gallium and germanium, among other critical metals \u2013 and Vancouver, Canada-based precious metals miner Trilogy Metals is developing multiple projects in northwest Alaska.<\/p>\n “This proposed partnership with the U.S. government represents a significant milestone for Trilogy Metals and for the development of a secure, domestic supply of critical minerals for America in Alaska,” Trilogy CEO Tony Giardini<\/a> said in a statement announcing the deal.<\/p>\n Giardini noted “the strategic importance of the Upper Kobuk Mineral Projects in supporting U.S. energy, technology, and national security priorities.” And, clearly, the government shutdown<\/a> did not mean much for TMQ stock today.<\/p>\n At Tuesday’s closing bell, the blue-chip Dow Jones<\/a> Industrial Average <\/strong>was down 0.2% to 46,602, the broad-based S&P 500 Index<\/strong> was lower by 0.6% to 6,714, and the tech-heavy Nasdaq<\/a> Composite<\/strong> was off 0.7% to 22,788.<\/p>\n More AI infrastructure deals<\/p>\n International Business Machines<\/strong> (IBM<\/a>, +1.5%) hit a new all-time high and was No. 1 among Dow Jones stocks<\/a> after it announced a partnership with Anthropic to develop enterprise-ready AI.<\/p>\n According to terms of Big Blue’s deal<\/a> with the Alphabet<\/strong> (GOOGL<\/a>, -1.9%)-and Amazon.com<\/strong> (AMZN<\/a>, +0.4%)-backed builder of Claude, that large language model will be “infused” into IBM’s software portfolio.<\/p>\n IBM doesn’t make lists of quantum computing stocks, but the old-school outfit is advancing in that field as well, including a technical leap for tracking bond market prices<\/a> in partnership with HSBC<\/strong> (HSBC<\/a>, -1.1%) announced last month.<\/p>\n AMD stock earns an upgrade<\/p>\n Meanwhile, Advanced Micro Devices<\/strong> (AMD<\/a>, +3.8%) earned an upgrade from a team of Jefferies analysts after the chipmaker announced an infrastructure deal<\/a> with OpenAI.<\/p>\n “We rarely do this,” wrote Blayne Curtis<\/a> and the Jefferies analysts at the top of their note explaining the move to boost their rating on AMD stock from Hold to Buy and their 12-month target price from $170 to $300.<\/p>\n The analysts said the AMD-OpenAI deal is “a strong validation of AMD’s AI roadmap and the level of AI demand in general.”<\/p>\n NYSE owner invests in betting on everything<\/p>\n Intercontinental Exchange<\/strong> (ICE<\/a>, +1.8%), which owns and operates the New York Stock Exchange and was predicted by an AI stock-picker<\/a> to beat the market, is making a strategic investment in prediction markets operator Polymarket.<\/p>\n According to ICE CEO Jeffrey Sprecher, the investment combines “the owner of the New York Stock Exchange, which was founded in 1792, with a forward-thinking, revolutionary company pioneering change within the Decentralized Finance<\/a> space.”<\/p>\n Polymarket founder and CEO Shayne Coplan said the partnership “marks a major step in bringing prediction markets into the financial mainstream,” noting that they are “expanding how individuals and institutions use probabilities to understand and price the future<\/a>.”<\/p>\n What did Tesla do?<\/p>\n Tesla<\/a><\/strong> (TSLA<\/a>, -4.5%) taketh away most of Tuesday as markets awaited follow-through on a Twitter-teased October 7 event many interpreted to be the introduction of a lower-priced electric vehicle. The Magnificent 7 stock<\/a> was up 5.4% on Monday.<\/p>\n TSLA stock extended its losses after the company introduced two new models with reduced starting prices in response to the elimination of U.S. tax credits for EV purchases.<\/p>\n