Speaker 1: Bloomberg Audio Studios, podcasts, radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 2: I'm Carol Masser along with Tim Stenevik. Let's get to
Speaker 2: some stocks on the move today with us.
Speaker 1: As Bloomberg News process At reporter Emily Graffeo and Nvidia.
Speaker 3: Yeah, it's moving a little bit. It's moving a little bit.
Speaker 3: When we have a company this big, a little bit
Speaker 3: in percentage wise is a lot of billions of dollars moving.
Speaker 3: But I'm watching in Nvidia tiker NVDA. It hit a
Speaker 3: record intra day high today above one hundred and eighty
Speaker 3: four dollars a share, currently up about three point five
Speaker 3: percent after the chip maker said it plans to invest
Speaker 3: one hundred billion dollars in Open Ai, which of course
Speaker 3: is the parent company of Chat GPT, and it's going
Speaker 3: to be used to support new data centers and other
Speaker 3: AI infrastructure. I feel like we were just talking about
Speaker 3: Invidia making partnerships. It was just Friday, right that Nvidia
Speaker 3: and agreed to invest five billion dollars in Intel. Well,
Speaker 3: now one hundred billion dollars are going to Open Ai
Speaker 3: the street get.
Speaker 1: A billion lily. The billions are not unlimited nowt in
Speaker 1: Video the company has fifty six point seven billion dollars
Speaker 1: in cash and cash equivalents on its balance sheet. Well,
Speaker 1: they just committed one hundred billion to open ass So
Speaker 1: how does that work. It's a letter of intent. I
Speaker 1: intend to do this right, yes, but we'll see in reality.
Speaker 3: And in video will also be receiving and it's going
Speaker 3: to happen. It's not going to be in one hundred
Speaker 3: billion all at once. From my understanding, Bloomberg is reporting
Speaker 3: that in Video will will receive equity in open Ai
Speaker 3: as part of the deal, according to people familiar with
Speaker 3: the arrangements, and the goal here is to deploy at
Speaker 3: least ten gigawatts of in Vidia systems for open Ai infrastructure.
Speaker 3: I thought it was interesting what CFRRA had to say.
Speaker 3: They upgraded the stock to strong buy. They already had
Speaker 3: a buy rating, moved it up to strong buy it exactly,
Speaker 3: and they said the analysts over there, the combination of
Speaker 3: the open Ai partnership and a potential re entry into
Speaker 3: China at some point, among other factors, has the potential
Speaker 3: to still drive notable upside to our assumptions that would
Speaker 3: be in the stock and in media.
Speaker 2: Right, Yeah, WHOA.
Speaker 1: Where you want to go to Oracle?
Speaker 2: Let's go to Oracle.
Speaker 3: Okay, So this is another tech stock that's moving higher today.
Speaker 3: Ticker o RCL jumped up about five percent right now,
Speaker 3: and it's all on optimism about the software firm's role
Speaker 3: and a potential deal for TikTok. So Bloomberg reported that
Speaker 3: a White House official said Oracle would recreate and provide
Speaker 3: security for a new US version of TikTok's algorithm under
Speaker 3: that deal taking shape to sell Chinese owned TikTok to
Speaker 3: a consortium of American investors. That seems to be moving
Speaker 3: the stock. There is also some Oracle specific management moves.
Speaker 3: They did promote to executives to become co chief executive officers.
Speaker 3: I think I'm going to butcher the name to him.
Speaker 3: I don't know if you could say this, Clay ma
Speaker 3: Joric and Mike Silica will become co chief executive office.
Speaker 3: I'm getting the thumbs done, well done.
Speaker 1: Yeah, that wasn't planned, was it? The executive changes?
Speaker 3: I think so?
Speaker 1: Yeah.
Speaker 3: My understanding is it's not analyst. We're largely positive on it, though.
Speaker 1: Don't forget Softfracatz was co co with Mark Hurd years ago,
Speaker 1: and then Mark Hurd passed away I believe in twenty nineteen,
Speaker 1: and then Soffracats was the only CEO. Larry Ellison at
Speaker 1: the time said he would keep her as the only CEO,
Speaker 1: and now two CEOs again.
Speaker 2: All right, so going back to that plan.
Speaker 1: All right, Oracle, we're watching that one's rallying b E TR.
Speaker 2: Who's that.
Speaker 3: We're going to end on a fun note. Can I
Speaker 3: call it fun when a stock is moving in triple
Speaker 3: digits anything?
Speaker 1: Anytime we talk about Eric Jackson, I think it's interesting,
Speaker 1: it's fun. Oh I saw this.
Speaker 3: Yeah, So this is a digital like online home services company.
Speaker 3: They do online mortgages.
Speaker 1: You can read by your home online.
Speaker 3: Yes, the ticker is b E t R. It was
Speaker 3: up as much as one hundred and seventy five percent today.
Speaker 3: That wasn't even a record because it was up as
Speaker 3: much as two hundred percent back in twenty twenty three.
Speaker 3: And it's all after a Canadian investor that I know
Speaker 3: you guys have spoken to Eric Jackson.
Speaker 1: He used to not be a memestock guy either. Like
Speaker 1: he's got a tiny hedge fund.
Speaker 3: In terms right emj Capital. He tweeted that he's long
Speaker 3: on better and he called the company the Shopify of mortgages.
Speaker 3: You know, in reading about him, I get a sense
Speaker 3: that he he is kind of accidentally in the Memestock made.
Speaker 1: I think he's I think he has harnessed the power
Speaker 1: of social media. The power of social media he's got,
Speaker 1: He's gained a big.
Speaker 3: Following, and now suddenly we're seeing meme stock volume in
Speaker 3: this company and memestock moves here in Better Home.
Speaker 1: It's an eight hundred and forty two million dollar marketing
Speaker 1: cap right now. Even with the increase.
Speaker 3: Today, Yeah, and it did pair those gains, but it's
Speaker 3: still up about sixty percent today. And of course this
Speaker 3: follows Eric Jackson's move on open Door Technology, sparking a
Speaker 3: Meme stock style rally in that stock a couple months ago.
Speaker 2: Love it, Love it. This stock mover's report from Bloomberg Radio.
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