Two companies specializing in artificial intelligence are being underappreciated by the stock market, according to Frank Downing of Ark Investments.

Downing, director of research for ARK Next Generation Internet ETF, believes that as the cost of AI falls, investors should look for companies with niche use cases that can offer higher returns.

Downing suggests the stocks he’s picked could be significantly boosted by leveraging large language models like those made by OpenAI, the firm behind ChatGPT.

CNBC Pro subscribers can read more here.

— Ganesh Rao

Oil prices rose after OPEC kingpin Saudi Arabia decided to cut production by another million barrels per day.

Global benchmark Brent futures were up 2.4% at $78 a barrel Monday during early Asia trade, while U.S. West Texas Intermediate futures rose 2.5% to $73.53 per barrel.

“The market did not widely expect the Saudi decision to cut production by 1 million barrels per day unilaterally,” president of Rapidan Energy Bob McNally told CNBC in an e-mail following the decision.

“It once again demonstrated that Saudi Arabia is willing to act unilaterally to stabilize oil prices,” McNally said.

—Lee Ying Shan

Wall Street analysts have recently been bullish on the metal, with Citi and Goldman predicting that prices are set to soar.

For those looking to buy into the sector, CNBC Pro screened for stocks in the Global X Copper Miners ETF, and the resulting stocks include one with nearly 100% upside.

CNBC Pro subscribers can read more here.

— Weizhen Tan

The U.K.’s FTSE index will open 11 points higher to 7,622, according to IG data, while Italy’s MIB will be up 61 points to 27,109. Both France and Germany’s major indexes look set to open lower, with the DAX dropping 15 points to 16,048 and the CAC shedding 4 points.

— Hannah Ward-Glenton