By Yahoo Finance
Publication Date: 2026-05-11 10:00:00
Chipmakers got a boost on Friday, helping to lift US stocks to record highs, after the Wall Street Journal reported that Apple (AAPL) and Intel (INTC) reached a deal that will have Intel supply the iPhone maker with chips.
Tech stocks may get another lift on Monday, as UAE-based AI chipmaker Cerebras is expected to make a splashy public debut. The startup counts Amazon (AMZN) and OpenAI (OPAI.PVT) among its customers, and its inital public offering is likely to be the biggest IPO of 2026 so far.
In other tech news, several tech executives, including Nvidia (NVDA) CEO Jensen Huang and Apple (AAPL) CEO Tim Cook, are expected to join the US delegation to Beijing. President Trump and Chinese President Xi Jinping are scheduled to meet later this week to discuss trade, the war in Iran, powerful AI models, and more.
Meanwhile, the Elon Musk versus OpenAI (OPAI.PVT) trial, which wrapped up its second week on Thursday, is set to resume on Monday.
Musk’s lawsuit against one of the world’s most valuable private companies has provided a number of details about the inner workings of OpenAI and the relationships between Musk, his fellow co-founders, CEO Sam Altman, and president Greg Brockman, former chief technology officer Mira Murati, and former board member, and mother of four of Musk’s children, Shivon Zilis.
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