Gold, Oil, Nvidia & AMD in Focus Amid Fed and Middle East Risks

Commodities and artificial intelligence companies are back in focus. Gold remained near a seven-week low following a sharp decline, while crude oil extended its advance amid continued concerns over Middle Eastern supplies. At the same time, Nvidia unveiled a major expansion of its share repurchase programme and new AI security technology, AMD announced an $8.2 billion acquisition of World Labs, and reported developments surrounding a potential Anthropic IPO kept attention on the rapidly expanding AI sector. 

TL;DR 

• Gold remained near a seven-week low as a stronger US dollar and changing interest-rate expectations weighed on the precious metal. 

• Oil prices extended gains for a second session amid continued concerns about potential Middle Eastern supply disruptions.

• Nvidia added $150 billion to its share repurchase authorization and separately introduced its Open Agent Safety Platform. 

• AMD agreed to acquire World Labs for $8.2 billion, bringing AI researcher Fei-Fei Li into the company as chief scientist.

• Reports about a possible Anthropic IPO continue to attract attention, but the timing, valuation and final terms of any potential listing remain unconfirmed. 

Gold Remains Near a Seven-Week Low

Gold price remained close to a seven-week low on Tuesday, 29 September, after falling sharply in the previous session. The precious metal has faced pressure as higher energy prices have added to inflation concerns and expectations that US interest rates could remain elevated. The US dollar has also been trading around two-month highs, creating another headwind for dollar-denominated gold.  

The moves come as markets await further US economic releases for signals about the Federal Reserve's policy outlook. Oil-driven inflation concerns have recently contributed to higher expectations for tighter monetary policy, while the US Dollar Index was around 101 in Monday, 28 September, trading. Gold's reaction, therefore, may reflect the interaction between interest-rate expectations, Treasury yields, energy prices and the dollar rather than developments in the precious-metals market alone.  

Oil Extends Gains on Middle East Supply Concerns

Oil prices rose for a second consecutive session on Tuesday as concerns about potential Middle Eastern supply disruptions outweighed signs that crude exports from the region were recovering. Brent crude futures were up 0.6% at $105.91 a barrel in early trading, while US West Texas Intermediate rose 0.8% to $93.32, according to Reuters.  

The market remains focused on the US-Iran conflict and its implications for regional energy flows. Preliminary Kpler figures cited by Reuters showed crude exports from major Middle Eastern producers reaching 12.8 million barrels per day in September, their highest level since February. However, some additional volumes have depended on less efficient measures such as ship-to-ship transfers, leaving uncertainty around the reliability and cost of regional supply. (Source: Reuters)  

The energy move also has implications beyond the commodity market. Higher oil prices have reinforced inflation concerns and contributed to expectations surrounding further Federal Reserve tightening, helping the US dollar remain close to a two-month high. This connection between energy, inflation expectations and monetary policy has also been one of the factors weighing on gold.  

Nvidia Expands Buyback Programme by $150 Billion

Nvidia announced an additional $150 billion authorization under its existing share repurchase programme, increasing the total remaining authorized amount to $235 billion. The company said it expects to execute the remaining programmHYe through fiscal 2028 and described the increase as the largest share repurchase authorization increase on record.  

The announcement comes as the tech giant continues to generate substantial cash from demand for AI infrastructure. Nvidia shares have benefited from spending on graphics processors and related computing technology used to train and operate AI systems, while the company has also expanded across CPUs, networking, robotics and other parts of the computing stack. 

Moreover, Nvidia has separately launched its Open Agent Safety Platform on 28 September. The platform combines its OpenShell open-source software with the Nvidia Sentry reference system design to provide governance and security controls for autonomous AI agents. The company said more than 100 organizations are working with technologies associated with the platform, with participants including Anthropic, Microsoft, Cisco, CrowdStrike, Salesforce and financial institutions.  

AMD Adds World Labs and Fei-Fei Li to Its AI Push

AMD also made a significant AI move, agreeing to acquire World Labs for $8.2 billion. The San Francisco-based AI company focuses on software and models for three-dimensional environments and was founded by prominent AI researcher Fei-Fei Li. The transaction is expected to close by the end of 2026.

Under the agreement, Li is set to join AMD as executive vice-president and chief scientist, reporting directly to CEO Lisa Su. The transaction adds model-development expertise to a company already competing with Nvidia across AI accelerators and data-centre computing, extending AMD's AI strategy beyond semiconductor hardware. 

Anthropic IPO Reports Keep AI Capital Markets in Focus

The potential Anthropic IPO  is another development attracting attention across the AI sector. Reporting in recent weeks has indicated that the Claude developer has been preparing for a potential public listing, although the timing and final terms have remained subject to change.  

According to Reuters figures cited by Yahoo Finance, Anthropic’s 2025 sales surged 1,088% to $4.59 billion, while its net loss widened to $41.97 billion, from $8.31 billion in 2024. The prospectus reportedly outlines around $518 billion in cloud, computing and infrastructure obligations, highlighting the significant costs associated with expanding its AI operations. Anthropic is also reportedly seeking a valuation of around $2 trillion, potentially benefiting existing investors such as Salesforce. No official IPO filing has yet been made public. (Source: Yahoo Finance) 

Commodities and AI Converge in a Busy Market Session

The latest developments may highlight several interconnected themes across global markets. Middle East supply concerns are supporting oil prices, while higher energy costs are feeding into inflation and interest-rate expectations. Those dynamics have coincided with a stronger US dollar and pressure on gold. Meanwhile, Nvidia's expanded capital-return programme and AI safety initiative, AMD's World Labs acquisition and continuing reports surrounding Anthropic's prospective IPO are keeping the scale of investment in artificial intelligence in focus. 

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