Nvidia Rises After $3.5 Billion MediaTek Investment As Oil Prices Jump

According to CNBC, the S&P 500 fell Monday after the U.S. and Iran traded strikes for the first time in a month, while West Texas Intermediate crude rose 2% to trade above $85 per barrel. Jim Cramer said he was increasingly disturbed by the jump in oil prices because of the pressure it can put on stocks tied to the commodity. Apple shares also traded lower on Tim Cook's last day as CEO, ending his 15-year run, with John Ternus set to take over Tuesday. Nvidia climbed more than 1% after announcing a $3.5 billion investment in chip designer MediaTek. Cramer said he would prefer share buybacks over additional investments, while portfolio director Jeff Marks said the deal could also be a competitive move against Broadcom, which has built a leading position in custom AI chips. CrowdStrike gained 4% after a post by AI podcaster and writer Dwarkesh Patel reinforced the view that companies need to spend aggressively on cybersecurity in the AI era.