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Stock Market 3 February 2026

Nvidia stock drops on OpenAI chip doubts as investors brace for earnings

Nvidia stock drops on OpenAI chip doubts as investors brace for earnings

Nvidia shares dropped 2.9% to $185.61 Tuesday morning after reports surfaced that OpenAI is unhappy with some of Nvidia’s newest AI chips and is exploring other options. OpenAI has reportedly looked into chips from Advanced Micro Devices and startups like Cerebras Systems and Groq. The focus is shifting toward “inference”—the real-time output of trained AI models. Nvidia claims its platform leads on inference, offering "the best performance and total cost of ownership at scale." Meanwhile, OpenAI CEO Sam Altman praised Nvidia’s chips as the “best AI chips in the world” and said OpenAI aims to stay a “gigantic customer.”
3 February 2026
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AT&T stock rises in premarket on Lumen fiber deal close — what to watch next

AT&T stock rises in premarket on Lumen fiber deal close — what to watch next

AT&T Inc shares rose about 0.4% to $26.30 in premarket trading Tuesday after the company completed its $5.75 billion all-cash acquisition of Lumen Technologies’ Mass Markets fiber division. The deal brings over 1 million fiber subscribers and covers more than 4 million locations, expanding AT&T’s fiber reach to 32 states. The company aims to hit more than 60 million fiber locations by 2030. “America's largest network is the best positioned in our industry to serve even more consumers – both in the home and on the go,” said CEO John Stankey.
3 February 2026
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Plug Power stock holds near $2 as CEO warns reverse split ahead of key Feb. 5 vote

Plug Power stock holds near $2 as CEO warns reverse split ahead of key Feb. 5 vote

Plug Power shares hovered around $2.08 in early trading Tuesday, barely moving as the hydrogen and fuel-cell firm clarified its stance ahead of a crucial Feb. 5 vote on boosting its share authorization. Marsh told the board he is “strongly opposed to a reverse stock split,” but cautioned that if the proposal doesn’t pass, the company would still need to go down that route. He noted that previous shareholder approval covers splits anywhere from 1-for-5 up to 1-for-200.
3 February 2026
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PayPal dumps CEO Alex Chriss, taps HP chief Enrique Lores as earnings miss and dividend debut jolt stock

PayPal dumps CEO Alex Chriss, taps HP chief Enrique Lores as earnings miss and dividend debut jolt stock

PayPal announced it will replace CEO Alex Chriss with Enrique Lores, currently leading HP Inc., following a gloomy profit forecast that sent shares tumbling in premarket action. Jamie Miller steps in as interim CEO, while David W. Dorman takes over as independent board chair, the company said. https://www.bloomberg.com/news/articles/2026-02-03/paypal-names-hp-s-enrique-lores-to-replace-ceo-alex-chriss
3 February 2026
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SpaceX buys Musk’s xAI in record $1.25 trillion deal as space stocks jump premarket

SpaceX buys Musk’s xAI in record $1.25 trillion deal as space stocks jump premarket

SpaceX has snapped up Elon Musk’s AI startup xAI, merging its rocket and satellite operations with the creators of the Grok chatbot. A source close to the deal pegged SpaceX’s valuation at $1 trillion and xAI’s at $250 billion—up from recent secondary-market estimates around $800 billion and $230 billion, respectively. xAI investors will get 0.1433 SpaceX shares per xAI share, the source added, with some execs able to cash out at $75.46 per share. PitchBook analyst Ali Javaheri highlighted Starlink as a “cash flow engine” amid LSEG data showing this is now the biggest M&A deal ever, beating Vodafone’s 2000 Mannesmann acquisition.
3 February 2026
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