The Dow Jones Industrial Average was down, while the S&P 500 and Nasdaq Composite were up, as chipmakers traded higher to kick off the week.

In company news, Brookfield Asset Management (BAM) and Canada Pension Plan Investment Board agreed to acquire LXP Industrial Trust (LXP) in an all-cash deal valued at around $5.2 billion, including net debt and preferred equity, LXP said Monday. Under the terms of the transaction, which is expected to close in Q4, LXP shareholders will receive $61.20 per share in cash. Brookfield shares were down 1.3% around midday, while LXP shares were up 4.2%.

Alphabet's (GOOG, GOOGL) Google is working on a new server chip that will allow it to serve its AI models to users more efficiently, The Information reported Monday, citing two people with direct knowledge of the matter. Google plans to use the new chip to help address shortages in AI computing capacity, as the tech giant's workers project it could be 6 to 10 times more efficient than the latest version of its existing line of homegrown AI chips when it launches, the report said, citing the people. Google Class C shares were up 3.1%, while its Class A shares were up 3.0%.

SpaceX (SPCX) said Sunday that it is preparing to launch the 13th flight test of Starship as early as Thursday. SpaceX shares were down 1.0%.

Alibaba Group's (BABA) AliExpress unit was fined 550 million euros ($628.9 million) by the European Commission for failing to comply with the Digital Services Act, the European Commission said Monday. The EC penalized the web platform for failing to diligently assess and mitigate risks tied to the sale of counterfeit and hazardous items, it said. Alibaba shares were up 4.4%.

Bristol-Myers Squibb (BMY) said Monday that it is expanding its partnership with Nvidia (NVDA) to build an AI factory dedicated to pharmaceutical research and development. Financial terms of the deal were not disclosed. Bristol shares were up 0.1%, while Nvidia shares were up 1.7%.

Price: 47.71, Change: -0.62, Percent Change: -1.28