WEBVTT - Alibaba Soars; Micron Forecast; Lithium Americas Loan

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>Let's take a look at some stocks on the move today.

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<v Speaker 3>I'm Nathan Hager, joined by Bloomberg's Valerie Tytel in a

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<v Speaker 3>morning where it feels like the AI trade is firmly

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<v Speaker 3>in place, given what we're seeing in Ali Baba this morning,

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<v Speaker 3>in particular, Good morning, Valerie.

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<v Speaker 1>Good morning Nathan. Yes, yet another tech company to pledge

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<v Speaker 1>more AI infrastructure investment. The latest one is Ali Baba

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<v Speaker 1>out of China, pledging up to fifty billion dollars of

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<v Speaker 1>AI infrastructure spending. The CEO is saying that overall global

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<v Speaker 1>investment could reach four trillion dollars in the next five

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<v Speaker 1>years and they need to spend to keep up. Now,

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<v Speaker 1>the stock price is moving higher on the back of this,

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<v Speaker 1>up nearly ten percent in pre market. So, Nathan, this

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<v Speaker 1>pledge of more investment, of more spending, This has been

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<v Speaker 1>a theme of the last month or so that it

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<v Speaker 1>keeps getting rewarded by the market. Ali Baba is no different.

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<v Speaker 2>Now.

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<v Speaker 1>There are also some other stories to keep on top

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<v Speaker 1>of with Ali Baba, they did confirm that they are

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<v Speaker 1>integrating in video robotics software for physical AIS. That also

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<v Speaker 1>gave a boost to the stock. And then lastly, Kathy Woods,

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<v Speaker 1>the famed tech investor, did add an allocation to Ali

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<v Speaker 1>Baba on Monday for the first time in four years.

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<v Speaker 1>So this is a lot of enthusiasm again around Chinese tech.

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<v Speaker 1>Ali Baba surging to the highest in four years, up

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<v Speaker 1>nearly ten percent this morning.

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<v Speaker 3>And it feels like that enthusiasm is carrying over into

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<v Speaker 3>the earnings we saw overnight from a Micron Technology. How's

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<v Speaker 3>that stock doing the morning after.

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<v Speaker 1>Well, Micron is in the green. It's up nine tens

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<v Speaker 1>of one percent, which I know doesn't sound like much,

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<v Speaker 1>but this stock had a very high bar for this

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<v Speaker 1>earnings release because it's rallied forty five percent Nathan in

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<v Speaker 1>the month of September alone, so it was a high

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<v Speaker 1>bar for the earnings release. But they came out with

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<v Speaker 1>a beat on revenue and had some solid guidance on

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<v Speaker 1>the back of AI demand. Remember, Micron is a maker

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<v Speaker 1>of the high bandwidth memory chips, which used to be

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<v Speaker 1>kind of a boring topic, but now it's really critical

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<v Speaker 1>for AI and the development of these new models. So again,

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<v Speaker 1>this story is another positive one for Micron, one of

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<v Speaker 1>the best performing stocks actually in the S and P

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<v Speaker 1>five hundred this year year to date, up around near

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<v Speaker 1>one hundred percent, and it's continuing its rally this morning.

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<v Speaker 3>Wow, that's just an incredible run. Got to talk as

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<v Speaker 3>well about Lithium Americas because apparently the Trump administration is

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<v Speaker 3>talking about it as well.

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<v Speaker 1>Yes, Lithium Americas is a pure play lithium producer. There

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<v Speaker 1>have been reports that the Trump administration wants to convert

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<v Speaker 1>a Department of Energy loan into an equity stake, into

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<v Speaker 1>a ten percent equity stake, and we're seeing the shares

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<v Speaker 1>rise nearly sixty percent in pre mark trade. Now. Lithium

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<v Speaker 1>America's is developing a massive lithium mine out in Nevada

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<v Speaker 1>with General Motors with GM, and this is now seen

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<v Speaker 1>as quite a positive thing that they can renegotiate this

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<v Speaker 1>loan into an equity stake, which sources we're telling routers

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<v Speaker 1>is what the Trump administration wants in order to give

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<v Speaker 1>a better deal to the taxpayers. But it's not just

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<v Speaker 1>Lithium America is getting boosted by this. Also General Motors,

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<v Speaker 1>who they own that mine with is also in the green,

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<v Speaker 1>up three and a quarter percent.

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<v Speaker 2>The Stock Movers Report from Bloomberg Radio. Check back with

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