The U.S. November jobs report has something for everybody.

Those convinced of weakness will highlight the higher-than-expected unemployment rate as well as the number of jobs shrinking in October.

On the other hand, proponents of a strong economy will focus on jobs growth in November beating estimates, and point out that the increase in the unemployment rate was mostly because the labor force grew, as CNBC’s Jeff Cox noted.

Without any definitive judgment that can be made on the state of the labor market, traders left their bets on interest rate cuts in January mostly unchanged. It’s currently at 25.5%, around one percentage point higher than before the release of the November jobs report, according to the CME FedWatch tool.

“Today’s data paints a picture of an economy catching its breath,” said Gina Bolvin, president at Bolvin Wealth Management Group. “Job growth is holding on, but cracks are forming. Consumers are still standing, but not sprinting.”

That ambivalence was reflected in markets as well. Major U.S. indexes were mixed: The S&P 500 and Dow Jones Industrial Average fell 0.24% and 0.62% respectively, while the Nasdaq Composite registered a mild gain of 0.23%, thanks to Tesla stock closing at an all-time high.

Whether you’re a bull or a bear, Tuesday’s tea leaves will show you what you want to see — but beware confirmation bias.

OpenAI is in discussions with Amazon about a potential investment and an agreement to use its artificial intelligence chips, CNBC confirmed on Tuesday.

The details are fluid and still subject to change but the investment could exceed $10 billion, according to a person familiar with the matter who asked not to be named because the talks are confidential. The Information first reported on the potential deal.

The discussions come after OpenAI completed a restructuring in October and formally outlined the details of its partnership with Microsoft, giving it more freedom to raise capital and partner with companies across the broader AI ecosystem.

Microsoft has invested more than $13 billion in OpenAI and backed the company since 2019, but it no longer has a right of first refusal to be OpenAI’s compute provider, according to an October release. OpenAI can now also develop some products with third parties.

Amazon has invested at least $8 billion into OpenAI rival Anthropic, but the e-commerce giant could be looking to expand its exposure to the booming generative AI market. Microsoft has taken a similar step and announced last month that it will invest up to $5 billion into Anthropic, while Nvidia will invest up to $10 billion in the startup.

Amazon Web Services has been designing its own AI chips since around 2015, and the hardware has become crucial for AI companies that are trying to train models and meet growing demand for compute. AWS announced its Inferentia chips in 2018, and the latest generation of its Trainium chips earlier this month.

OpenAI has made more than $1.4 trillion of infrastructure commitments in recent months, including agreements with chipmakers Nvidia, Advanced Micro Devices and Broadcom. Last month, OpenAI signed a deal to buy $38 billion worth of capacity from AWS, its first contract with the leader in cloud infrastructure leader.

In October, OpenAI finalized a secondary share sale totaling $6.6 billion, allowing current and former employees to sell stock at a $500 billion valuation.

WATCH: Oracle says there have been ‘no delays’ in OpenAI arrangement after stock slide

Shares of Chinese chipmaker MetaX Integrated Circuits soared about 700% in their market debut in Shanghai on Wednesday, after the company raised nearly $600 million in its initial public offering.

Shares, which were priced at 104.66 yuan in the IPO, surged to over 835 yuan on debut, marking a 697% jump.

Similar to Moore Threads, which saw a robust debut at the start of the month, MetaX develops graphics processing units for artificial intelligence applications, tapping into a fast-growing sector driven by rising adoption of AI services.

MetaX is part of a growing cohort of local chipmakers building AI processors, reflecting Beijing’s push to reduce dependence on U.S. chips following Washington’s tech curbs on export of high-end technology to China.

Washington has imposed export curbs on U.S. chip behemoth Nvidia, barring sales of its most advanced AI chips to China.

Newer Chinese players such as Enflame Technology and Biren Technology have also entered the AI space, aiming to capture a share of the billions in graphics processing unit, or GPU, demand no longer served by Nvidia. Chinese regulators have also been clearing more semiconductor IPOs in their drive for greater AI independence.

Earlier this month, shares of Moore Threads, a Beijing-based GPU manufacturer often referred to as “China’s Nvidia,” soared by more than 400% on its debut in Shanghai following its $1.1 billion listing.

Macquarie’s equity analyst Eugene Hsiao said investor enthusiasm around Chinese AI-chip IPOs such as MetaX is partly shaped by longer-term expectations that China will build a self-sufficient semiconductor ecosystem as tensions with the U.S. persist.

“For that to work, you need these players. You need names like Moore Threads, Meta X, etc,” he said.

“So I think when investors are looking at these IPOs, they implicitly are thinking about the nationalistic element,” Hsiao noted, adding that the main driver of the frenzy, however, was the firms’ growth potential.

— CNBC’s Dylan Butts contributed to this article.