Wall Street experienced gains on Wednesday, largely driven by strong performances from major technology companies, including Nvidia and Amazon. Nvidia's stock climbed over 1.5% after the company announced a multi-year agreement to supply AI chips to Meta Platforms. This positive momentum also extended to other tech hardware firms like SanDisk, Western Digital, and Seagate Technology Holdings, which saw their stock prices increase.
In a significant development, Amazon is reportedly in discussions to invest billions of dollars in AI startup Anthropic, a direct competitor to OpenAI. This potential investment aims to bolster Amazon's AI capabilities and challenge Nvidia's strong position in the AI chip market. Meanwhile, the high electricity demand from AI applications is drawing investors to the utilities sector, with companies such as NextEra Energy, Duke Energy, and Constellation Energy reaching record highs due to data center deals with Microsoft and Meta Platforms. However, analysts caution that this sector might be overvalued.
AI-related companies have also fueled a record year for U.S. convertible bond sales, raising $13.6 billion so far in 2026. Google CEO Sundar Pichai defended AI spending, emphasizing its role in driving significant growth and value, and announced new investments in India, highlighting its importance as a co-builder in AI development. Despite concerns about an AI bubble and market volatility, AI investments continue to attract substantial funding.
Several AI startups recently secured significant funding rounds. Berlin-based Plato raised $14.5 million in seed funding, led by Atomico, to enhance generative AI applications in the wholesale distribution industry, aiming to automate tasks like sales and quoting. Grotto AI secured $10 million in seed funding to develop real-time AI software for coaching apartment leasing agents, while Agaton emerged from stealth with $10 million for its AI platform that analyzes customer conversations for enterprise sales teams.
Key Takeaways
- Nvidia's stock rose over 1.5% following a multi-year deal to supply AI chips to Meta Platforms.
- Amazon is reportedly in talks to invest billions of dollars in AI startup Anthropic, a competitor to OpenAI.
- AI's high electricity demand is boosting the utilities sector, with companies like NextEra Energy, Duke Energy, and Constellation Energy hitting record highs due to data center deals with Microsoft and Meta Platforms.
- U.S. convertible bond sales linked to AI companies reached $13.6 billion in 2026, indicating strong financing activity.
- Google CEO Sundar Pichai defended AI spending, stating it is a worthwhile investment driving significant growth and value.
- Berlin startup Plato secured $14.5 million in seed funding, led by Atomico, for its generative AI platform in wholesale distribution.
- Grotto AI raised $10 million in seed funding for its real-time AI software designed to reduce rental vacancies by coaching leasing agents.
- Agaton emerged from stealth with $10 million in funding for its AI platform that analyzes customer conversations for enterprise sales teams.
- Wall Street saw overall gains, with Nvidia, Amazon, and other tech companies contributing to the market's strength.
- Analysts warn that the utilities sector, boosted by AI demand, might be overvalued, with much of the growth potentially already priced in.
Plato raises $14.5M for AI in wholesale distribution
Plato, a startup based in Berlin, has secured $14.5 million in seed funding. The company uses generative AI to improve the wholesale distribution industry, which often relies on outdated systems. Plato's AI platform connects to existing systems to automate tasks like generating quotes and identifying sales opportunities. This funding will help Plato expand its AI capabilities into areas like procurement and customer service, and grow into new markets, including the U.S.
Atomico-backed Plato gets $14.5M for AI sales tool
Berlin startup Plato has raised $14.5 million in seed funding to enhance sales in the wholesale distribution sector. Their AI platform acts as an operating system for distributors, automating tasks like sales and quoting. Early customers have seen benefits such as increased revenue and saved time. Plato plans to use the funding to expand globally and add customer service and procurement automation to its offerings.
Atomico leads $14.5M investment in Plato's AI for distribution
Atomico is leading a $14.5 million seed funding round for Plato, a company building an AI operating system for global distribution. The wholesale distribution industry, a $3 trillion sector, often uses outdated software and manual processes. Plato's AI platform integrates with existing ERP systems to automate sales intelligence and quoting, aiming to increase revenue and efficiency. The company plans to expand its AI capabilities into customer service and procurement.
Nvidia and AI stocks lift Wall Street higher
Wall Street stocks closed higher on Wednesday, with the Dow, S&P 500, and Nasdaq all seeing gains. Nvidia's stock rose over 1.5% after announcing a multi-year deal to supply AI chips to Meta Platforms. Other tech hardware companies like SanDisk, Western Digital, and Seagate Technology Holdings also saw their stock prices increase.
Wall Street gains on Nvidia and AI stock strength
Wall Street ended higher on Wednesday, boosted by strong performances from Nvidia, Amazon, and other major technology companies. This rise occurred despite recent concerns about artificial intelligence. The gains in these tech stocks helped lift the overall market.
AI powers utilities sector into crowded growth area
Investors are flocking to utility companies due to the high electricity demand from AI applications, causing the sector's biggest exchange-traded fund to gain 6.8% this year. Companies like NextEra Energy, Duke Energy, and Constellation Energy have hit record highs due to data center deals with Microsoft and Meta Platforms. Analysts warn that the sector might be overvalued, with much of the growth potentially already priced in.
AI drives record US convertible bond sales in 2026
Companies linked to artificial intelligence have fueled a record year for U.S. convertible bond sales, with $13.6 billion raised so far in 2026. This trend is expected to continue, potentially matching or exceeding last year's record issuance of over $120 billion. Convertible bonds are attractive to growth companies as a cheaper financing tool, especially with current market volatility.
Amazon may invest billions in AI startup Anthropic
Amazon is reportedly in talks to invest billions of dollars in AI startup Anthropic, a competitor to OpenAI. This move could significantly boost Amazon's AI capabilities and challenge Nvidia's dominance in AI chips. Anthropic has developed its own AI models, and Amazon plans to invest heavily in AI infrastructure. The investment would give Amazon access to Anthropic's technology for its cloud services and e-commerce platform.
Grotto AI raises $10M to cut rental vacancies
Grotto AI has raised $10 million in seed funding to help reduce rental vacancies. The company uses real-time AI software to coach apartment leasing agents. This funding will support the expansion of their services aimed at improving the rental market.
Google CEO Pichai defends AI spending amid bubble fears
Google CEO Sundar Pichai stated that AI spending is a worthwhile investment, even as concerns about an AI bubble grow. He highlighted that AI investments drive significant growth and value, moving much faster than previous industrial revolutions. Pichai also announced new investments in India, including fiber-optic routes and an AI for Science Impact Challenge. He emphasized India's role as a co-builder in AI development.
Options trading strategies for AI volatility and Fed rates
Scott Bauer, CEO of Prosper Trading Academy, discussed options trading strategies for navigating market volatility, investor expectations for Federal Reserve interest rates, and the impact of AI on the software sector. He noted that volatility remains high, with U.S. stocks showing signs of recovery after an AI-driven sell-off. Bauer also explained how market participants are anticipating Fed rate decisions and the effects of AI disruptions on tech companies.
Agaton raises $10M for AI sales conversation platform
Agaton has emerged from stealth mode with a $10 million funding round for its AI platform that analyzes customer conversations. The platform helps enterprise sales teams identify opportunities, improve decision-making, and automate workflows. By analyzing real-time customer interactions, Agaton aims to provide strategic intelligence and support for sales and customer service teams. The funding will accelerate market expansion and enhance AI capabilities.
Sources
- Plato closes $14.5M to bring AI automation to wholesale trade
- Atomico-backed Plato secures $14.5M for sales AI in wholesale trade
- Plato
- Wall Street ends higher, lifted by Nvidia and other AI stocks
- Wall Street ends higher, lifted by Nvidia and other AI stocks
- AI’s Thirst for Power Turns Utilities Into Crowded Growth Sector
- AI Seen Driving US Convertible Bond Sales to Another Banner Year
- Amazon Just Shared Great News for This AI Chipmaker (Hint: Not Nvidia)
- Grotto AI raises $10M to reduce rental vacancies
- Google CEO Sundar Pichai says AI spending still makes sense as bubble fears mount
- Options trades: Making sense of volatility, AI woes, Fed rates
- Agaton raises $10 million to expand its AI platform for sales teams
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