*

Nike ( NKE ) gains after Jefferies upgrades to 'buy'

*

Berkshire Hathaway at record high after record Q4 profit

*

Domino's Pizza falls after missing Q4 same-store sales

estimates

*

Indexes: Dow up 0.32%, S&P 500 up 0.08%, Nasdaq down 0.43%

(Updates to mid-session trading)

By Johann M Cherian and Sukriti Gupta

Feb 24 (Reuters) - Wall Street's main indexes were mixed

in choppy trading on Monday, as investors awaited results from

chip giant Nvidia ( NVDA ) for clues on the future of demand for

artificial intelligence technology.

Most megacap stocks fell, with Tesla, Meta

and Microsoft ( MSFT ) down between 1% and 2%.

Microsoft ( MSFT ) has scrapped leases for sizeable data center

capacity in the U.S., suggesting a potential oversupply of AI

infrastructure, TD Cowen analysts said in a note published late

on Friday.

The news came weeks after the launch of low-cost AI

models from China's DeepSeek in January rattled tech stocks and

stoked doubts about whether U.S. companies were spending too

much on the technology and overestimating demand going ahead.

"It seems like this is a sector that I think has gone

too far, too fast and yet everything you hear is a lot of these

companies are still coming out saying that they are still

spending," said Joe Saluzzi, co-founder of Equity Trading at

Themis Trading.

Nvidia's ( NVDA ) quarterly results, expected on Wednesday, puts the

chip sector in the spotlight for the week.

"(Nvidia ( NVDA )) is a stock that has moved so much so quickly.

So (it) better have really good earnings and people will be

looking at guidance and spending going forward," Saluzzi said.

Shares of Nvidia ( NVDA ) were flat on Monday while most other

chip stocks declined. The broader Philadelphia SE Semiconductor

Index was down 0.6%.

At 11:56 a.m. ET, the Dow Jones Industrial Average

rose 137.74 points, or 0.32%, to 43,565.76, the S&P 500

gained 3.72 points, or 0.08%, to 6,017.71 and the Nasdaq

Composite lost 84.31 points, or 0.43%, to 19,439.69.

Apple ( AAPL ) reversed premarket declines to gain 0.9%.

The iPhone maker unveiled plans to spend $500 billion in U.S.

investments in the next four years, including setting up a giant

factory in Texas for AI servers.

Seven of the 11 S&P 500 sectors edged up and healthcare

led declines with a 1% rise. Value stocks rose

0.5% to outperform their growth peers that dipped 0.3%.

Last week, U.S. stock indexes registered losses after a

batch of weak economic data and a disappointing forecast from

Walmart ( WMT ) sparked concerns that the world's largest

economy was stalling. The benchmark S&P 500 and a smallcaps

index marked their worst daily declines of 2025 on

Friday.

On the data front, the Personal Consumption Expenditure

index - the Federal Reserve's preferred inflation gauge - is

expected on Friday and could help markets gauge the timing of

the central bank's first rate cut this year.

Interest rate futures indicate the Fed will leave borrowing

costs unchanged for the first half of the year, according to

data compiled by LSEG.

Among others, Berkshire's Class B shares rose 4% to

touch a record high after the Warren Buffett-owned conglomerate

reported a record annual profit.

Nike ( NKE ) added 4.7% after Jefferies raised its rating to

"buy" from "hold".

Domino's Pizza fell 2.7% after missing expectations

for fourth-quarter same-store sales.

Markets are also on edge for any tariff comments from U.S.

President Donald Trump.

Advancing issues outnumbered decliners by a 1.13-to-1 ratio

on the NYSE and declining issues outnumbered advancers by a

1.46-to-1 ratio on the Nasdaq.

The S&P 500 posted 25 new 52-week highs and 6 new lows while

the Nasdaq Composite recorded 31 new highs and 184 new lows.