US stocks were mixed on Monday as the federal government shutdown continued, with the Nasdaq Composite leading gains at 0.7% and the S&P 500 rising 0.4%. AMD announced a multiyear deal with OpenAI that could bring in billions in revenue and give OpenAI the option to purchase up to 10% of AMD, boosting the AI trade.

AMD’s stock surged at the open after the chipmaker’s deal with OpenAI, adding over $100 billion in market cap value. AMD’s stock rose as much as 38% at the open, with this being the second-largest one-day gain in 40 years. The stock was headed towards record highs, outperforming Nvidia over the last year.

Gold, silver, and bitcoin hit record highs as investors sought a hedge against government spending and looser monetary policy. Gold futures neared $4,000 per troy ounce, while silver and bitcoin also saw significant gains. The rise in these assets comes amid concerns of a potential bubble in the current AI boom.

Tesla stock jumped over 2% as the company teased a new product unveiling event on Tuesday. The EV maker posted cryptic social media posts hinting at new reveals, leading to speculation among investors. Tesla shares have seen a strong recovery this year, up roughly 9% year-to-date.

Verizon named former PayPal CEO Dan Schulman as its new CEO, replacing Hans Vestberg. Schulman has been on Verizon’s board since 2018 and brings 20 years of industry experience to the role. Verizon’s stock dipped slightly as the announcement was made, with Vestberg staying on as an adviser until 2026.

Regional bank Fifth Third Bancorp announced its acquisition of Comerica in a $10.9 billion all-stock deal. The acquisition will create the ninth-largest US bank with approximately $288 billion in assets. Fifth Third’s stock fell 4% in premarket trading, while Comerica’s stock surged 11% on the news.

Read more at Yahoo Finance: Dow falls, S&P 500 and Nasdaq rise as AMD surges on OpenAI deal, shutdown drags on