What you need to know today

Altman joins Microsoft
Sam Altman, who was ousted as CEO of OpenAI on Friday, is joining Microsoft to lead a new artificial intelligence team. Greg Brockman, former OpenAI president and board chair — and potentially many OpenAI employees — will join Microsoft alongside Altman. One researcher said the move's a case of "damage control." But investors begged to differ, pushing Microsoft shares to a record high.
Tech excitement
U.S. markets traded higher Monday, led by excitement over technology stocks. Microsoft and Nvidia
hit all-time highs, while U.S. Treasury yields dipped on the back of a strong auction. Europe's Stoxx 600 index edged up 0.1%. Bayer plunged around 18% after the German pharmaceutical firm said it's stopped trials for a new anti-clotting drug.
New high for Nvidia
Nvidia shares popped 2.25% to close at an all-time high of $504.09, ahead of the chipmaker's earnings report today. That gives Nvidia a market capitalization of $1.2 trillion, more than Meta or Tesla. Investors have good cause for cheer: Revenue for the company's fiscal fourth quarter is estimated to grow 200%, according to LSEG estimates.
'Anarcho capitalist'
Argentina's Javier Milei is slated to be the country's president, garnering 56% of the votes. Milei's known as a far-right political outsider and has described himself as an "anarcho capitalist." Among his proposed policies are: dollarizing Argentina's economy, abolishing the central bank and privatizing the pension system.
'Golden Age of Fraud'
Jim Chanos, the legendary short seller who bet against Enron before it went bankrupt in 2001, recently converted his hedge funds to a family office. But Chanos said in a final message to investors this is a 'Golden Age of Fraud' that still presents plenty of short opportunities. $NVIDIA (NVDA.US)$ $Invesco QQQ Trust (QQQ.US)$ $Nasdaq Composite Index (.IXIC.US)$ $Microsoft (MSFT.US)$