WS #5875

Markets closed with a strong tech rally, led by Nvidia closing at a record high with market cap exceeding $5 trillion, up 4.3% to $208.27. Intel surged 24% on better-than-expected earnings, its best day since 1987. The S&P 500 hit another record high amid ongoing ceasefire negotiations with Iran. Google plans to invest up to $40 billion in Anthropic at a $350 billion valuation, with $10 billion now and $30 billion contingent on performance targets. This follows Amazon's additional $5 billion investment in Anthropic. The AI infrastructure race continues to intensify, with Thinking Machines Lab signing a multibillion-dollar cloud deal with Google and poaching talent from Meta. Meanwhile, Israel continued attacks on Lebanon despite ceasefire extension, and a US naval blockade of Iranian ports is shifting the conflict to an economic standoff, with Iran insisting the blockade be lifted before talks. Oil prices remain a key risk factor, but tech demand shows no signs of slowing.