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 3: Let's take a look at some stocks on the move today.
Speaker 3: I'm Nathan Hager, joined by Bloomberg's Valerie Tytel in a
Speaker 3: morning where it feels like the AI trade is firmly
Speaker 3: in place, given what we're seeing in Ali Baba this morning,
Speaker 3: in particular, Good morning, Valerie.
Speaker 1: Good morning Nathan. Yes, yet another tech company to pledge
Speaker 1: more AI infrastructure investment. The latest one is Ali Baba
Speaker 1: out of China, pledging up to fifty billion dollars of
Speaker 1: AI infrastructure spending. The CEO is saying that overall global
Speaker 1: investment could reach four trillion dollars in the next five
Speaker 1: years and they need to spend to keep up. Now,
Speaker 1: the stock price is moving higher on the back of this,
Speaker 1: up nearly ten percent in pre market. So, Nathan, this
Speaker 1: pledge of more investment, of more spending, This has been
Speaker 1: a theme of the last month or so that it
Speaker 1: keeps getting rewarded by the market. Ali Baba is no different.
Speaker 2: Now.
Speaker 1: There are also some other stories to keep on top
Speaker 1: of with Ali Baba, they did confirm that they are
Speaker 1: integrating in video robotics software for physical AIS. That also
Speaker 1: gave a boost to the stock. And then lastly, Kathy Woods,
Speaker 1: the famed tech investor, did add an allocation to Ali
Speaker 1: Baba on Monday for the first time in four years.
Speaker 1: So this is a lot of enthusiasm again around Chinese tech.
Speaker 1: Ali Baba surging to the highest in four years, up
Speaker 1: nearly ten percent this morning.
Speaker 3: And it feels like that enthusiasm is carrying over into
Speaker 3: the earnings we saw overnight from a Micron Technology. How's
Speaker 3: that stock doing the morning after.
Speaker 1: Well, Micron is in the green. It's up nine tens
Speaker 1: of one percent, which I know doesn't sound like much,
Speaker 1: but this stock had a very high bar for this
Speaker 1: earnings release because it's rallied forty five percent Nathan in
Speaker 1: the month of September alone, so it was a high
Speaker 1: bar for the earnings release. But they came out with
Speaker 1: a beat on revenue and had some solid guidance on
Speaker 1: the back of AI demand. Remember, Micron is a maker
Speaker 1: of the high bandwidth memory chips, which used to be
Speaker 1: kind of a boring topic, but now it's really critical
Speaker 1: for AI and the development of these new models. So again,
Speaker 1: this story is another positive one for Micron, one of
Speaker 1: the best performing stocks actually in the S and P
Speaker 1: five hundred this year year to date, up around near
Speaker 1: one hundred percent, and it's continuing its rally this morning.
Speaker 3: Wow, that's just an incredible run. Got to talk as
Speaker 3: well about Lithium Americas because apparently the Trump administration is
Speaker 3: talking about it as well.
Speaker 1: Yes, Lithium Americas is a pure play lithium producer. There
Speaker 1: have been reports that the Trump administration wants to convert
Speaker 1: a Department of Energy loan into an equity stake, into
Speaker 1: a ten percent equity stake, and we're seeing the shares
Speaker 1: rise nearly sixty percent in pre mark trade. Now. Lithium
Speaker 1: America's is developing a massive lithium mine out in Nevada
Speaker 1: with General Motors with GM, and this is now seen
Speaker 1: as quite a positive thing that they can renegotiate this
Speaker 1: loan into an equity stake, which sources we're telling routers
Speaker 1: is what the Trump administration wants in order to give
Speaker 1: a better deal to the taxpayers. But it's not just
Speaker 1: Lithium America is getting boosted by this. Also General Motors,
Speaker 1: who they own that mine with is also in the green,
Speaker 1: up three and a quarter percent.
Speaker 2: The Stock Movers Report from Bloomberg Radio. Check back with
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