Australian shares are set to open higher after technology shares rallied anew in New York, lifting the Nasdaq Composite and S&P 500 after AMD secured a deal to develop AI infrastructure with OpenAI.
Futures indicate the benchmark S&P/ASX 200 Index is poised to open up 10 points or 0.1 per cent at the start of trade. Overnight on Wall Street, the tecch heavy Nasdaq and the S&P 500 reached record closing highs, up 0.7 per cent and 0.4 per cent, respectively.
AMD said the deal could generate tens of billions of new revenue, and could lead to OpenAI acquiring a 10 per cent stake in the chipmaker. AMD’s shares surged as much as 38 per cent before easing to close up 23.7 per cent.
Source: https://www.afr.com/markets/equity-markets/asx-to-rise-amd-paces-tech-rally-on-wall-street-20251007-p5n0j1