WEBVTT - Nvidia and Meta; Snowflake's Surge

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<v Speaker 1>Bloomberg Audio Studios. Podcasts. Radio. News. The Stock Movers Report,

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<v Speaker 1>your roundup of companies making moves in the stock market,

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<v Speaker 1>harnessing the power of Bloomberg data. Let's take a look

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<v Speaker 1>at some stocks on the move today.

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<v Speaker 2>NVIDIA to start with. Ticket NVDA, pre-markets NVIDIA stock gaining

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<v Speaker 2>about four-tenths of 1%. They're buying Hugging Face for $ 12. 93 billion.

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<v Speaker 2>It's going to remain an open platform. NVIDIA Compute's not

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<v Speaker 2>going to be required to build out or to be

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<v Speaker 2>deployed through Hugging Face. So that's the big deal. What

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<v Speaker 2>is Hugging Face? Any idea? You're drilling. Is it like snowflake? Yeah,

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<v Speaker 2>which is the next stock. Oh, this is all so sensitive.

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<v Speaker 2>I'm all AI for you today. Yeah. All right.

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<v Speaker 1>Next one.

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<v Speaker 2>Snowflake, S-N-O-W. Shares absolutely surging for this one, 24% high

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<v Speaker 2>in pre-market trading. They make software that helps organize and

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<v Speaker 2>analyze corporate data in the cloud. It's called Cocoa, one

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<v Speaker 2>of the tools that they have on offer. It's actually

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<v Speaker 2>not that many people that use it, but they've seen

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<v Speaker 2>a big surge in terms of customer accounts using Cocoa,

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<v Speaker 2>for example, in the past quarter. So, there are 9,160

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<v Speaker 2>Customer accounts now using that has gone up by 2,000.

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<v Speaker 2>Evercore called Snowflakes results exceptional. For the quarter ending in July,

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<v Speaker 2>product revenue increased 37% to $ 1. 49 billion. So it's every

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<v Speaker 2>AI company.

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<v Speaker 1>Remember when companies were called like Anaconda Copper? Yeah, Snowflake.

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<v Speaker 2>Manly companies.

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<v Speaker 1>Exactly. Look at the analysts. 50 buy ratings, five holds,

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<v Speaker 1>and one sell. I think the street likes Snowflake.

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<v Speaker 2>Yeah. Do you have one more? I do. Meta up 1.3%. Obviously,

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<v Speaker 2>we know what Meta does, don't we? Facebook.

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<v Speaker 1>Yeah, 1.3% higher.

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<v Speaker 2>This is the media giant that has released its most

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<v Speaker 2>powerful artificial intelligence model yet. This is the Muse Spark 1.3.

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<v Speaker 2>I like the fact that Meta's chief AI officer, Alexander Wang,

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<v Speaker 2>saying that Muse will be competitive with Anthropix, Claude, better

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<v Speaker 2>than OpenAI's chat GPT 5.6 model. having said that our

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<v Speaker 2>own analysts at bloomberg are saying that the sweet spot

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<v Speaker 2>for this thing is going to be competing with chinese

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<v Speaker 2>labs in this middle tier everyone's trying to work out

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<v Speaker 2>is it only the best ai that's gonna be what

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<v Speaker 2>people spend money on and tokens on is there going

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<v Speaker 2>to be a middle.

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<v Speaker 1>Tier interesting yeah The Stock Movers Report from Bloomberg Radio.

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