1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,560 --> 00:00:18,479 Speaker 3: Let's take a look at some stocks on the move today. 5 00:00:18,520 --> 00:00:21,520 Speaker 3: I'm Nathan Hager, joined by Bloomberg's Valerie Tytel in a 6 00:00:21,520 --> 00:00:24,520 Speaker 3: morning where it feels like the AI trade is firmly 7 00:00:24,720 --> 00:00:29,160 Speaker 3: in place, given what we're seeing in Ali Baba this morning, 8 00:00:29,200 --> 00:00:31,640 Speaker 3: in particular, Good morning, Valerie. 9 00:00:31,120 --> 00:00:34,640 Speaker 1: Good morning Nathan. Yes, yet another tech company to pledge 10 00:00:34,640 --> 00:00:38,680 Speaker 1: more AI infrastructure investment. The latest one is Ali Baba 11 00:00:38,720 --> 00:00:42,720 Speaker 1: out of China, pledging up to fifty billion dollars of 12 00:00:42,760 --> 00:00:47,960 Speaker 1: AI infrastructure spending. The CEO is saying that overall global 13 00:00:47,960 --> 00:00:51,319 Speaker 1: investment could reach four trillion dollars in the next five 14 00:00:51,400 --> 00:00:53,400 Speaker 1: years and they need to spend to keep up. Now, 15 00:00:53,640 --> 00:00:56,000 Speaker 1: the stock price is moving higher on the back of this, 16 00:00:56,160 --> 00:00:58,760 Speaker 1: up nearly ten percent in pre market. So, Nathan, this 17 00:00:58,880 --> 00:01:01,880 Speaker 1: pledge of more investment, of more spending, This has been 18 00:01:01,880 --> 00:01:04,040 Speaker 1: a theme of the last month or so that it 19 00:01:04,120 --> 00:01:07,920 Speaker 1: keeps getting rewarded by the market. Ali Baba is no different. 20 00:01:08,680 --> 00:01:08,960 Speaker 2: Now. 21 00:01:09,120 --> 00:01:11,280 Speaker 1: There are also some other stories to keep on top 22 00:01:11,360 --> 00:01:14,440 Speaker 1: of with Ali Baba, they did confirm that they are 23 00:01:14,560 --> 00:01:18,880 Speaker 1: integrating in video robotics software for physical AIS. That also 24 00:01:18,920 --> 00:01:22,800 Speaker 1: gave a boost to the stock. And then lastly, Kathy Woods, 25 00:01:22,840 --> 00:01:27,800 Speaker 1: the famed tech investor, did add an allocation to Ali 26 00:01:27,920 --> 00:01:31,240 Speaker 1: Baba on Monday for the first time in four years. 27 00:01:31,280 --> 00:01:34,199 Speaker 1: So this is a lot of enthusiasm again around Chinese tech. 28 00:01:34,280 --> 00:01:37,039 Speaker 1: Ali Baba surging to the highest in four years, up 29 00:01:37,080 --> 00:01:38,800 Speaker 1: nearly ten percent this morning. 30 00:01:38,680 --> 00:01:41,600 Speaker 3: And it feels like that enthusiasm is carrying over into 31 00:01:41,640 --> 00:01:45,680 Speaker 3: the earnings we saw overnight from a Micron Technology. How's 32 00:01:45,720 --> 00:01:47,360 Speaker 3: that stock doing the morning after. 33 00:01:47,560 --> 00:01:50,000 Speaker 1: Well, Micron is in the green. It's up nine tens 34 00:01:50,000 --> 00:01:52,600 Speaker 1: of one percent, which I know doesn't sound like much, 35 00:01:53,040 --> 00:01:55,600 Speaker 1: but this stock had a very high bar for this 36 00:01:55,720 --> 00:01:59,680 Speaker 1: earnings release because it's rallied forty five percent Nathan in 37 00:01:59,720 --> 00:02:02,640 Speaker 1: the month of September alone, so it was a high 38 00:02:02,680 --> 00:02:04,760 Speaker 1: bar for the earnings release. But they came out with 39 00:02:04,800 --> 00:02:08,320 Speaker 1: a beat on revenue and had some solid guidance on 40 00:02:08,360 --> 00:02:11,760 Speaker 1: the back of AI demand. Remember, Micron is a maker 41 00:02:11,800 --> 00:02:14,680 Speaker 1: of the high bandwidth memory chips, which used to be 42 00:02:14,760 --> 00:02:17,880 Speaker 1: kind of a boring topic, but now it's really critical 43 00:02:18,000 --> 00:02:21,560 Speaker 1: for AI and the development of these new models. So again, 44 00:02:21,639 --> 00:02:24,160 Speaker 1: this story is another positive one for Micron, one of 45 00:02:24,200 --> 00:02:27,080 Speaker 1: the best performing stocks actually in the S and P 46 00:02:27,200 --> 00:02:30,760 Speaker 1: five hundred this year year to date, up around near 47 00:02:30,800 --> 00:02:33,280 Speaker 1: one hundred percent, and it's continuing its rally this morning. 48 00:02:33,480 --> 00:02:36,280 Speaker 3: Wow, that's just an incredible run. Got to talk as 49 00:02:36,320 --> 00:02:41,040 Speaker 3: well about Lithium Americas because apparently the Trump administration is 50 00:02:41,080 --> 00:02:42,079 Speaker 3: talking about it as well. 51 00:02:42,560 --> 00:02:46,360 Speaker 1: Yes, Lithium Americas is a pure play lithium producer. There 52 00:02:46,400 --> 00:02:50,160 Speaker 1: have been reports that the Trump administration wants to convert 53 00:02:50,600 --> 00:02:54,600 Speaker 1: a Department of Energy loan into an equity stake, into 54 00:02:54,680 --> 00:02:57,680 Speaker 1: a ten percent equity stake, and we're seeing the shares 55 00:02:57,800 --> 00:03:01,600 Speaker 1: rise nearly sixty percent in pre mark trade. Now. Lithium 56 00:03:01,639 --> 00:03:05,880 Speaker 1: America's is developing a massive lithium mine out in Nevada 57 00:03:05,960 --> 00:03:09,440 Speaker 1: with General Motors with GM, and this is now seen 58 00:03:09,440 --> 00:03:12,240 Speaker 1: as quite a positive thing that they can renegotiate this 59 00:03:12,440 --> 00:03:16,240 Speaker 1: loan into an equity stake, which sources we're telling routers 60 00:03:16,440 --> 00:03:18,720 Speaker 1: is what the Trump administration wants in order to give 61 00:03:18,720 --> 00:03:21,040 Speaker 1: a better deal to the taxpayers. But it's not just 62 00:03:21,080 --> 00:03:24,440 Speaker 1: Lithium America is getting boosted by this. Also General Motors, 63 00:03:24,480 --> 00:03:26,919 Speaker 1: who they own that mine with is also in the green, 64 00:03:27,040 --> 00:03:28,280 Speaker 1: up three and a quarter percent. 65 00:03:29,600 --> 00:03:33,640 Speaker 2: The Stock Movers Report from Bloomberg Radio. Check back with 66 00:03:33,720 --> 00:03:36,280 Speaker 2: us throughout the day for the latest roundup of companies 67 00:03:36,360 --> 00:03:39,440 Speaker 2: making news on Wall Street and for the latest market 68 00:03:39,480 --> 00:03:43,920 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 69 00:03:44,040 --> 00:03:47,560 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 70 00:03:47,600 --> 00:03:49,120 Speaker 2: the Bloomberg Business app.