Global Markets Retreat as Rising Oil Prices Offset Major Nvidia and Meta AI Chip Deal
Rising oil prices and Fed caution dampened the mood despite a major Nvidia and Meta AI deal. Markets now look to Walmart earnings and jobless data for cues.
Insights:
NVIDIA Corporation has announced a significant multi-year agreement with Meta Platforms, Inc. to supply millions of its current and future artificial intelligence chips. This deal, confirmed on February 19, 2026, signals a massive commitment to AI capital expenditure for the 2026 fiscal year by major hyperscalers. The timing of the announcement is particularly noteworthy, occurring just days before Nvidia is scheduled to release its quarterly results, a move that market analysts link to recent shifts in Big Tech market sentiment following a period of heightened volatility.
