Arabic version: تباطؤ التضخم وتمويل الذكاء الاصطناعي يدعمان وول ستريت

According to Cnbc, moderating inflation and new artificial intelligence financing developments helped drive record-breaking Wall Street action last week. The S&P 500 and Nasdaq posted their third consecutive winning weeks, despite modest declines on Friday.

The S&P 500 moved above 7,800 for the first time during Thursday’s session and closed at a record. The Dow lagged, falling nearly 0.6% for the week. July’s consumer price index rose 0.1%, while annual inflation eased to 3.4%, both in line with estimates. The producer price index was unchanged for the month, below expectations for a 0.2% gain.

The reports added to evidence that inflation is moderating, though it remains above the Federal Reserve’s 2% target. Treasury yields fell as traders reduced expectations for a September rate increase. By week’s end, markets put the probability of the Fed holding its benchmark rate steady at 67%, up from 55% a week earlier.

Intel announced plans to sell $15 billion of common stock on Monday, then raised the offering to $20 billion on Tuesday following strong demand. A regulatory filing later showed that Chief Executive Lip-Bu Tan and a family member agreed to purchase a combined $12 million of stock in the offering. Intel ended the week up roughly 1%, while Micron gained about 11%.

Nvidia also announced agreements with Apollo Global Management, Blackstone, BlackRock, Brookfield Asset Management, KKR and Goldman Sachs for a $500 billion financing effort aimed at making AI compute an investable asset class. Nvidia shares rose 0.5% for the week, while Goldman was flat.