CNBC Daily Open: The AI peak hasn't crested yet

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe  here .

Back to back gains for S&P and Nasdaq
U.S. stocks mostly rose on Monday, with the S&P 500 and Nasdaq Composite climbing two days in a row. Artificial intelligence darling Nvidia closed at a record high. The pan-European Stoxx 600 index advanced 0.95%, although it came off highs after U.S. President-elect Donald Trump dismissed a report that his tariffs may not be as severe as initially thought.

Foxconn shows AI is still hot
Foxconn, which trades as Hon Hai Precision Industry, said in a Sunday statement that the company's fourth-quarter revenue, which grew 15% year over year, was the highest ever in the company's history for that period. Foxconn's numbers suggest that artificial intelligence is still hot, sending up stocks of Nvidia and other global semiconductor companies.

Partnership on charging network for EVs
Shares of Volkswagen and Xpeng rose on Monday after the two firms announced a memorandum of understanding in which they pledged to open their respective super-fast charging networks to each others' customers. Volkswagen and Xpeng will also explore cooperation on co-branded super-fast charging stations, the companies said.

Trudeau steps down
Canada's Prime Minister Justin Trudeau said at a news conference on Monday that he would step down from the helm of the ruling Liberal Party but will stay on as prime minister until a new leader is selected ahead of general elections due by late October. He added that the Canadian Parliament will be suspending its activity until March 24, when a