The Dow Jones, Nasdaq, and S&P 500 are entering a preview period for the busiest Q2 earnings week, led by major artificial intelligence companies. Tech stocks closed Monday mixed ahead of the flood of Big Tech earnings expected this week.
The earnings calendar highlights reports from Microsoft (MSFT), Meta Platforms (META), Apple (AAPL), and Amazon (AMZN). Additionally, key chipmakers such as SK Hynix (SKHY) and Qualcomm (QCOM) are also set to report.
Investors are growing concerned about free cash flow amid the AI spending boom, following Alphabet's (GOOG, GOOGL) capital expenditure guidance. The focus on spending comes as companies invest heavily in AI infrastructure.
Separately, Nvidia (NVDA) is reportedly in talks with OpenAI (OPAI.PVT) to provide $250 billion in financing for a data center project in Ohio. The report notes that this raises questions about circular financing in the AI industry.
Nvidia shares dropped on the day amid the report.