Stock Market Update

[BRIEFING.COM] When the market opened today, the Nasdaq Composite was a notable laggard thanks to the weight of the losses seen in Apple (AAPL 221.43, -8.55, -3.7%). The Nasdaq (+0.6%), however, has overcome Apple's issues and is now sporting a comfortable gain, helped by the nice intraday surge seen in Oracle (ORCL 172.55, +11.52, +7.2%).

Earlier, it was reported by CBS News that President Trump is going to announce a $500 billion AI infrastructure initiative today that involves Open AI, Softbank, and Oracle.

This news has obviously generated some excitement around the AI trade that is also benefiting NVIDIA (NVDA 141.28, +3.57, +2.6%), which, in the wake of today's disparate price action, has surpassed Apple as the largest U.S. stock by market capitalization.