CNBC Daily Open brings you the latest global market news. AI investments continue to drive growth, with Foxconn reporting record revenue fueled by AI server demand. Volkswagen and Xpeng announce a strategic partnership to share charging networks and explore further collaboration. Canadian Prime Minister Justin Trudeau resigns as Liberal leader but remains in office until a successor is chosen. Morgan Stanley suggests investors focus on quality stocks amid market pressures.
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe. Foxconn reported record fourth-quarter revenue that was partly powered by growth in its cloud and networking products, which includes AI servers like those designed by Nvidia.
Semiconductor stocks jumped on Monday, lifted by buoyant news regarding the artificial intelligence sector. Those reports suggest that companies are continuing to invest heavily in AI, and the peak hasn't yet been crested. Investors are also looking forward to Nvidia CEO Jensen Huang's keynote address at the 2025 Consumer Electronics Show 2025, which will take place around 11 a.m. Singapore time. Riding on the back of such tailwinds, Nvidia shares jumped 3.4% — their third straight day of gains — to close at a record $149.43. The company's stock inched up further in extended trading, and is currently hovering above the $150 level. Meanwhile, Volkswagen and Xpeng rose on Monday after the two firms announced a memorandum of understanding in which they pledged to open their respective super-fast charging networks to each others' customers. Volkswagen and Xpeng will also explore cooperation on other areas, including software development and autonomous driving. In Canada, Prime Minister Justin Trudeau announced that he will step down as leader of the Liberal Party but will stay on as prime minister until a new leader is selected ahead of general elections due by late October. He added that the Canadian Parliament will be suspending its activity until March 24, when a confidence vote will be carried out. Morgan Stanley's chief U.S. equity strategist, Michael Wilson, recommends that investors stick with quality stocks to manage any ensuing market tumult. The S&P 500 has continued its climb to kick off 2025, which puts pressure on stocks.
AI SEMICONDUCTORS FOXCONN VOLKSWAGEN XPENG CANADA TRUDEAU INVESTING MARKETS
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