11:35 AM EDT, 06/18/2025 (MT Newswires) -- All three major US stock indexes were up in late-morning trading Wednesday as market participants await the latest decision by the Federal Reserve's rate-setting committee, which will be announced in the afternoon.

In company news, Nippon Steel has completed its acquisition of US Steel (X), the companies said Wednesday in a joint statement. Under the deal terms, Nippon Steel will invest about $11 billion in US Steel by 2028, while US Steel will retain its name, remain incorporated in the US and maintain its Pittsburgh headquarters, the companies said. US Steel shares have ceased trading on the New York Stock Exchange.

Meta Platforms ( META ) has offered Microsoft ( MSFT )-backed (MSFT) OpenAI workers signing bonuses of up to $100 million and larger annual compensation packages, multiple media outlets reported Wednesday, citing OpenAI Chief Executive Sam Altman. Separately, OpenAI is winding down its work with Scale AI after Meta made billions of dollars in investments in Scale AI and hired its founder, Bloomberg reported, citing an OpenAI spokesperson. Meta shares were up 0.4% around midday. Microsoft ( MSFT ) shares were up 0.2%.

The Boeing ( BA ) 787 aircraft that crashed in Ahmedabad, India, last week likely had its emergency-power generator on prior to the crash, The Wall Street Journal reported Wednesday, citing preliminary findings from an ongoing investigation. Boeing ( BA ) shares were down 0.2%.

Texas Instruments ( TXN ) said Wednesday it will invest over $60 billion to expand its US semiconductor manufacturing capacity. The investment plan includes seven fabs across three sites in Texas and Utah, with up to $40 billion going toward four fabs in Sherman, Texas. Texas Instruments ( TXN ) shares were up 1%.

Marvell Technology ( MRVL ) is rapidly expanding its AI compute pipeline, with 18 compute socket wins, BofA Securities analysts said in a note Wednesday. The company raised its data center total addressable market forecast to $94 billion by 2028 from $75 billion previously, and that excludes high-bandwidth memory, which was included earlier, the note said. Marvell ( MRVL ) shares were up 7.2%.

Price: 54.84, Change: -0.01, Percent Change: -0.02