WEBVTT - Nvidia Pops, Oracle Jumps, Better Home Surges

0:00:02.520 --> 0:00:07.360
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News.

0:00:08.560 --> 0:00:12.440
<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

0:00:12.480 --> 0:00:15.880
<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

0:00:17.040 --> 0:00:19.599
<v Speaker 2>I'm Carol Masser along with Tim Stenevik. Let's get to

0:00:19.680 --> 0:00:21.799
<v Speaker 2>some stocks on the move today with us.

0:00:21.680 --> 0:00:25.560
<v Speaker 1>As Bloomberg News process At reporter Emily Graffeo and Nvidia.

0:00:25.880 --> 0:00:29.000
<v Speaker 3>Yeah, it's moving a little bit. It's moving a little bit.

0:00:29.720 --> 0:00:31.920
<v Speaker 3>When we have a company this big, a little bit

0:00:32.080 --> 0:00:36.479
<v Speaker 3>in percentage wise is a lot of billions of dollars moving.

0:00:36.560 --> 0:00:40.479
<v Speaker 3>But I'm watching in Nvidia tiker NVDA. It hit a

0:00:40.520 --> 0:00:42.760
<v Speaker 3>record intra day high today above one hundred and eighty

0:00:42.760 --> 0:00:45.840
<v Speaker 3>four dollars a share, currently up about three point five

0:00:45.920 --> 0:00:48.519
<v Speaker 3>percent after the chip maker said it plans to invest

0:00:48.560 --> 0:00:51.440
<v Speaker 3>one hundred billion dollars in Open Ai, which of course

0:00:51.880 --> 0:00:54.200
<v Speaker 3>is the parent company of Chat GPT, and it's going

0:00:54.240 --> 0:00:57.360
<v Speaker 3>to be used to support new data centers and other

0:00:57.440 --> 0:01:00.440
<v Speaker 3>AI infrastructure. I feel like we were just talking about

0:01:00.480 --> 0:01:06.279
<v Speaker 3>Invidia making partnerships. It was just Friday, right that Nvidia

0:01:06.319 --> 0:01:09.240
<v Speaker 3>and agreed to invest five billion dollars in Intel. Well,

0:01:09.280 --> 0:01:12.360
<v Speaker 3>now one hundred billion dollars are going to Open Ai

0:01:12.840 --> 0:01:15.520
<v Speaker 3>the street get.

0:01:15.360 --> 0:01:19.920
<v Speaker 1>A billion lily. The billions are not unlimited nowt in

0:01:20.040 --> 0:01:23.920
<v Speaker 1>Video the company has fifty six point seven billion dollars

0:01:23.920 --> 0:01:26.440
<v Speaker 1>in cash and cash equivalents on its balance sheet. Well,

0:01:26.640 --> 0:01:29.040
<v Speaker 1>they just committed one hundred billion to open ass So

0:01:29.080 --> 0:01:31.760
<v Speaker 1>how does that work. It's a letter of intent. I

0:01:31.840 --> 0:01:35.720
<v Speaker 1>intend to do this right, yes, but we'll see in reality.

0:01:35.440 --> 0:01:38.000
<v Speaker 3>And in video will also be receiving and it's going

0:01:38.040 --> 0:01:39.880
<v Speaker 3>to happen. It's not going to be in one hundred

0:01:39.920 --> 0:01:44.319
<v Speaker 3>billion all at once. From my understanding, Bloomberg is reporting

0:01:44.319 --> 0:01:47.200
<v Speaker 3>that in Video will will receive equity in open Ai

0:01:47.400 --> 0:01:49.880
<v Speaker 3>as part of the deal, according to people familiar with

0:01:49.960 --> 0:01:53.360
<v Speaker 3>the arrangements, and the goal here is to deploy at

0:01:53.440 --> 0:01:58.320
<v Speaker 3>least ten gigawatts of in Vidia systems for open Ai infrastructure.

0:01:58.360 --> 0:02:00.400
<v Speaker 3>I thought it was interesting what CFRRA had to say.

0:02:00.440 --> 0:02:03.720
<v Speaker 3>They upgraded the stock to strong buy. They already had

0:02:03.720 --> 0:02:07.720
<v Speaker 3>a buy rating, moved it up to strong buy it exactly,

0:02:07.800 --> 0:02:10.160
<v Speaker 3>and they said the analysts over there, the combination of

0:02:10.200 --> 0:02:13.200
<v Speaker 3>the open Ai partnership and a potential re entry into

0:02:13.240 --> 0:02:16.440
<v Speaker 3>China at some point, among other factors, has the potential

0:02:16.440 --> 0:02:19.839
<v Speaker 3>to still drive notable upside to our assumptions that would

0:02:19.880 --> 0:02:21.040
<v Speaker 3>be in the stock and in media.

0:02:21.360 --> 0:02:23.240
<v Speaker 2>Right, Yeah, WHOA.

0:02:24.160 --> 0:02:25.600
<v Speaker 1>Where you want to go to Oracle?

0:02:25.680 --> 0:02:26.400
<v Speaker 2>Let's go to Oracle.

0:02:26.480 --> 0:02:29.760
<v Speaker 3>Okay, So this is another tech stock that's moving higher today.

0:02:29.800 --> 0:02:35.400
<v Speaker 3>Ticker o RCL jumped up about five percent right now,

0:02:35.480 --> 0:02:39.079
<v Speaker 3>and it's all on optimism about the software firm's role

0:02:39.160 --> 0:02:43.280
<v Speaker 3>and a potential deal for TikTok. So Bloomberg reported that

0:02:43.360 --> 0:02:46.640
<v Speaker 3>a White House official said Oracle would recreate and provide

0:02:46.680 --> 0:02:50.560
<v Speaker 3>security for a new US version of TikTok's algorithm under

0:02:51.040 --> 0:02:54.680
<v Speaker 3>that deal taking shape to sell Chinese owned TikTok to

0:02:54.800 --> 0:02:58.480
<v Speaker 3>a consortium of American investors. That seems to be moving

0:02:58.480 --> 0:03:03.239
<v Speaker 3>the stock. There is also some Oracle specific management moves.

0:03:03.280 --> 0:03:07.720
<v Speaker 3>They did promote to executives to become co chief executive officers.

0:03:08.080 --> 0:03:09.600
<v Speaker 3>I think I'm going to butcher the name to him.

0:03:09.600 --> 0:03:11.679
<v Speaker 3>I don't know if you could say this, Clay ma

0:03:12.000 --> 0:03:16.400
<v Speaker 3>Joric and Mike Silica will become co chief executive office.

0:03:16.720 --> 0:03:19.560
<v Speaker 3>I'm getting the thumbs done, well done.

0:03:20.520 --> 0:03:23.280
<v Speaker 1>Yeah, that wasn't planned, was it? The executive changes?

0:03:23.720 --> 0:03:24.240
<v Speaker 3>I think so?

0:03:24.520 --> 0:03:24.760
<v Speaker 1>Yeah.

0:03:24.840 --> 0:03:29.600
<v Speaker 3>My understanding is it's not analyst. We're largely positive on it, though.

0:03:29.560 --> 0:03:33.880
<v Speaker 1>Don't forget Softfracatz was co co with Mark Hurd years ago,

0:03:34.280 --> 0:03:36.560
<v Speaker 1>and then Mark Hurd passed away I believe in twenty nineteen,

0:03:37.120 --> 0:03:41.080
<v Speaker 1>and then Soffracats was the only CEO. Larry Ellison at

0:03:41.120 --> 0:03:43.600
<v Speaker 1>the time said he would keep her as the only CEO,

0:03:44.280 --> 0:03:45.880
<v Speaker 1>and now two CEOs again.

0:03:45.920 --> 0:03:47.800
<v Speaker 2>All right, so going back to that plan.

0:03:48.160 --> 0:03:52.320
<v Speaker 1>All right, Oracle, we're watching that one's rallying b E TR.

0:03:52.560 --> 0:03:53.000
<v Speaker 2>Who's that.

0:03:53.280 --> 0:03:56.360
<v Speaker 3>We're going to end on a fun note. Can I

0:03:56.440 --> 0:03:59.040
<v Speaker 3>call it fun when a stock is moving in triple

0:03:59.200 --> 0:04:00.360
<v Speaker 3>digits anything?

0:04:00.600 --> 0:04:03.360
<v Speaker 1>Anytime we talk about Eric Jackson, I think it's interesting,

0:04:03.400 --> 0:04:04.920
<v Speaker 1>it's fun. Oh I saw this.

0:04:05.720 --> 0:04:11.080
<v Speaker 3>Yeah, So this is a digital like online home services company.

0:04:11.120 --> 0:04:12.280
<v Speaker 3>They do online mortgages.

0:04:12.520 --> 0:04:13.880
<v Speaker 1>You can read by your home online.

0:04:13.960 --> 0:04:17.400
<v Speaker 3>Yes, the ticker is b E t R. It was

0:04:17.520 --> 0:04:21.080
<v Speaker 3>up as much as one hundred and seventy five percent today.

0:04:21.320 --> 0:04:25.400
<v Speaker 3>That wasn't even a record because it was up as

0:04:25.440 --> 0:04:28.520
<v Speaker 3>much as two hundred percent back in twenty twenty three.

0:04:28.960 --> 0:04:32.520
<v Speaker 3>And it's all after a Canadian investor that I know

0:04:32.560 --> 0:04:34.480
<v Speaker 3>you guys have spoken to Eric Jackson.

0:04:35.360 --> 0:04:37.560
<v Speaker 1>He used to not be a memestock guy either. Like

0:04:38.040 --> 0:04:39.440
<v Speaker 1>he's got a tiny hedge fund.

0:04:39.320 --> 0:04:44.960
<v Speaker 3>In terms right emj Capital. He tweeted that he's long

0:04:45.560 --> 0:04:50.120
<v Speaker 3>on better and he called the company the Shopify of mortgages.

0:04:50.279 --> 0:04:52.680
<v Speaker 3>You know, in reading about him, I get a sense

0:04:52.720 --> 0:04:56.960
<v Speaker 3>that he he is kind of accidentally in the Memestock made.

0:04:57.000 --> 0:04:58.800
<v Speaker 1>I think he's I think he has harnessed the power

0:04:58.839 --> 0:05:02.040
<v Speaker 1>of social media. The power of social media he's got,

0:05:02.080 --> 0:05:02.800
<v Speaker 1>He's gained a big.

0:05:02.680 --> 0:05:07.400
<v Speaker 3>Following, and now suddenly we're seeing meme stock volume in

0:05:08.000 --> 0:05:11.000
<v Speaker 3>this company and memestock moves here in Better Home.

0:05:11.040 --> 0:05:13.159
<v Speaker 1>It's an eight hundred and forty two million dollar marketing

0:05:13.160 --> 0:05:15.160
<v Speaker 1>cap right now. Even with the increase.

0:05:14.800 --> 0:05:18.600
<v Speaker 3>Today, Yeah, and it did pair those gains, but it's

0:05:18.640 --> 0:05:22.760
<v Speaker 3>still up about sixty percent today. And of course this

0:05:22.880 --> 0:05:27.240
<v Speaker 3>follows Eric Jackson's move on open Door Technology, sparking a

0:05:27.320 --> 0:05:30.080
<v Speaker 3>Meme stock style rally in that stock a couple months ago.

0:05:30.279 --> 0:05:35.200
<v Speaker 2>Love it, Love it. This stock mover's report from Bloomberg Radio.

0:05:35.680 --> 0:05:37.840
<v Speaker 2>Check back with us throughout the day for the latest

0:05:37.880 --> 0:05:41.080
<v Speaker 2>roundup of companies making news on Wall Street and for

0:05:41.200 --> 0:05:45.119
<v Speaker 2>the latest market moving headlines. Listen to Bloomberg Radio Live,

0:05:45.520 --> 0:05:49.119
<v Speaker 2>catch us on YouTube, Bloomberg dot com, and on Applecarplay

0:05:49.120 --> 0:05:51.760
<v Speaker 2>and Android Auto with the Bloomberg business app,