Oil Steady; US Indices Firm on AI Spending for Nvidia, Meta & Microsoft

Global markets traded cautiously as oil prices held near recent lows, while technology heavyweights Nvidia, Meta and Microsoft remained in focus over expanding artificial intelligence (AI) investments. Major US benchmarks, including the Dow Jones Industrial Average, S&P 500, and Nasdaq 100, held relatively steady amid mixed investor sentiment.

TL;DR

• Oil prices steadied slightly on Wednesday after earlier losses this week on Tuesday linked to US-Iran developments.

• Nvidia and Meta expanded their AI chip partnership.

• Microsoft reaffirmed the pace of AI-related investment.

• Dow Jones, S&P 500 and Nasdaq 100 futures showed limited movement.

Oil Prices Stabilise After Recent Drop

Oil prices held near recent lows after declining on reports surrounding US-Iran discussions, which seem to have slightly eased immediate supply concerns in global energy markets. Traders monitored geopolitical signals as crude stabilised today, Wednesday, 18 February, following the previous session’s pullback.

The moderation in oil prices comes amid broader volatility in commodity markets, as geopolitical developments continue to influence expectations for supply flows and production dynamics. (Source: Yahoo Finance)

Nvidia and Meta Expand AI Chip Partnership

Shares of Nvidia and Meta Platforms drew attention after reports on Tuesday revealing that the two companies are expanding their collaboration, with Meta planning to deploy millions of additional Nvidia AI chips to support its data centre infrastructure and AI ambitions.

The agreement underscores sustained demand for advanced GPUs as major technology firms continue scaling AI capabilities. Nvidia remains central to AI hardware supply chains, while Meta continues investing heavily in computing infrastructure to support generative AI and related services.

Traders and investors may want to keep track of next week’s earnings report from Nvidia (scheduled for Wednesday, 25 February 2026)  to see what else this tech giant might have in store. 

US Indices Trade in Narrow Ranges

On Tuesday evening, 17 February, US stock index futures tied to the Dow Jones Industrial Average, S&P 500, and Nasdaq 100 were reported as relatively steady, as investors assessed AI-driven corporate developments alongside macroeconomic signals and upcoming Federal Reserve communications.

Technology stocks continued to influence broader index performance, particularly within the Nasdaq 100, where mega-cap AI names carry significant weighting.

Microsoft Maintains AI Investment Pace

Microsoft also remained in focus. Today, the company reaffirmed its investment pace in AI infrastructure, indicating continued capital expenditures to expand cloud and AI capacity and highlighting its ongoing commitment to long-term AI development.

Evidently, AI-related spending among major technology companies has been a key driver of market performance in recent quarters, influencing sentiment across growth-oriented sectors.

Conclusion

Oil markets stabilised after recent declines linked to geopolitical developments, while AI-focused investment remained a dominant market theme. Nvidia and Meta’s expanded partnership, alongside Microsoft’s continued infrastructure spending, kept technology stocks in focus.

Meanwhile, the Dow Jones, S&P 500 and Nasdaq 100 traded within limited ranges as investors balanced corporate developments with broader macroeconomic considerations.

*Past performance does not reflect future results. The above is for marketing and general informational purposes only, and are only projections and should not be taken as investment research, investment advice or a personal recommendation.