US stocks end in the green; Nvidia surges on OpenAI deal

​​​​​​​By Mucahithan Avcioglu

ISTANBUL (AA) - The New York Stock Exchange ended the first trading day of the week with gains, as Nvidia stocks climbed after the firm announced a $100 billion investment in OpenAI.

The Dow on Monday rose 0.14%, or 66.27 points, to close at an all-time high of 46,381.54

The S&P 500 climbed 0.44%, or 29.39 points, to also reach a new record high of 6,693.75.

The Nasdaq added 0.7%, or 157.5 points, to close at a record high of 22,788.98.

After opening the day on a negative note due to uncertainty over President Donald Trump's immigration and visa policies, the indices closed positively, fueled by news from tech companies.

Last week, Trump signed an executive order raising the application fee to $100,000 for companies under the H-1B work visa program, designed to attract high-skilled workers to work in the country.

The decision led to widespread confusion, with some major tech companies urging their employees not to leave the US or to return quickly if they were already abroad, with the news dampening tech stocks in particular.

The increase in visa fees sparked concerns that it would increase costs for companies employing these visas to bring in skilled workers.

However, Nvidia's shares surged around 4% after the chip giant announced that it plans to invest up to $100 billion in OpenAI as part of its artificial intelligence (AI) lab's plan to construct data centers worth hundreds of billions of dollars using its AI processors.

Oracle shares also climbed 6.3% after the White House announced that it would be a part of an "investor consortium" that is set to take control of TikTok's US operations.

On the other hand, the market's gains are being constrained by the growing likelihood of a government shutdown. Plans by both Democrats and Republicans to at least temporarily finance the federal government were turned down last week by the Senate.

Trump has subsequently been pushed by Senate Democratic Leader Chuck Schumer to meet with Democrats in order to reach an agreement. Legislators have until Sept. 30 to keep the government running.