Nvidia and AMD, GameStop rally, OPEC+ cuts: 3 Things

Both Nvidia (NVDA) and Advanced Micro Devices (AMD) announced new AI chips. Shares of the semiconductor companies are seeing a tick up in Monday's pre-market trading.

GameStop (GME) stock is rallying yet again after X user (formerly Twitter) "Roaring Kitty" — the username of Keith Gill — posted a screenshot of his portfolio and his investments in the video game retailer. The validity of Roaring Kitty's current GameStop holdings has yet to be verified.

OPEC+ opted to extend its oil (CL=F, BZ=F) production cuts into 2025.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Luke Carberry Mogan.

Video transcript

So let's get right to it with the three things that you need to know this morning, your road map for the trading day.

Yah finances, Jared Josh shaper and as for a have more, thank you, Brad.

Competition in the chip space is heating up in video and A MD moving higher this morning on new product announcements out of a tech conference in Taiwan in video announcing its most advanced to date nickname Ruben, which is expected in 2026.

This comes just months after the company and build its Blackwell chip.

We're also going to see another version of Blackwell in 2025.

Meanwhile and A MD unveiled a new A I accelerator which it plans to make available in the fourth quarter of this year as well as new mobile and laptop accessories.

And the return of the meme craze is here again.

Shares of Gamestop skyrocketing on speculation.

Keith Gill known as Roaring Kitty may have a big position in GME.

Roaring Kitty is the trader known for starting the 2021 meme frenzy around.

He allegedly posted on Reddit Sunday night.

A screenshot of what people think could be his investment portfolio showing 100 $75 million of share ownership and call options.

We could not independently verify this post and plus is agreeing to extend most of its oil production cuts into 2025.

However, the Oil alliance said it will begin unwinding some additional voluntary reduction starting in October.

The decision over the weekend was met with mixed reactions from Wall Street with some analysts predicting unwinding any cuts this year would be bearish for oil prices.

Others see the impact as neutral.

The production curves are intended to ensure prices stay higher amid demand and inflation concerns.