News 24 February 2026 - 25 February 2026

MatX raised $500 million in a Series B round led by Jane Street and Situational Awareness to develop AI chips aimed at outperforming Nvidia GPUs. The startup, founded by ex-Google engineers, will use the funds for production with TSMC and plans to ship chips in 2027. Etched, a rival, raised a similar amount last month at a $5 billion valuation. MatX’s current valuation was not disclosed.

American Express shares fell 0.24% to $320.48 Tuesday and were steady after hours, following a sharp drop Monday that weighed on the Dow. Financial stocks slumped more than 3% Monday amid renewed tariff concerns after a Supreme Court ruling and threats of new levies. Capital One, Mastercard, Visa, and JPMorgan also posted steep losses. American Express traded between $316.07 and $323.58 during Tuesday’s session.

JPMorgan Chase shares closed down 0.12% at $297.30 Tuesday and were steady after hours. The bank kept its 2026 expense target at $105 billion and plans to spend $19.8 billion on technology, with a quarter of new costs tied to AI. Investors are watching fee forecasts and consumer credit, as well as CEO Jamie Dimon's succession plans. The S&P 500 rose 0.77%, while bank stocks were mixed.

Bitcoin fell 0.8% to $64,054 Tuesday, after dropping to $62,673, as U.S. tariff uncertainty and $197.8 million in ETF outflows pressured prices. The token is down about 24% in February, on track for its steepest monthly loss since 2022. Ether slipped 0.5% to $1,854. Markets await tariff signals from President Trump’s State of the Union and Nvidia’s results.

AMD shares rose 9.1% to $214.51 after Meta agreed to buy large volumes of AMD AI chips over five years, with a warrant that could let Meta acquire up to a 10% stake. The deal covers up to 6 gigawatts of GPUs, with first shipments expected in late 2026. Traders now await Nvidia’s earnings on Feb. 25 for further signals on AI chip demand.