1 00:00:02,520 --> 00:00:09,960 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report, 2 00:00:10,280 --> 00:00:13,360 Speaker 1: your roundup of companies making moves in the stock market, 3 00:00:13,680 --> 00:00:17,840 Speaker 1: harnessing the power of Bloomberg data. Stock Movers is a 4 00:00:17,880 --> 00:00:22,680 Speaker 1: podcast Eventful in this big earnings week, Alexis Christophers. 5 00:00:22,040 --> 00:00:24,200 Speaker 2: Here, Oh, eventful is the word, tom So. I want 6 00:00:24,200 --> 00:00:27,160 Speaker 2: to start with Revolution Medicines. This is a biotech company 7 00:00:27,280 --> 00:00:30,880 Speaker 2: down nearly twenty two percent according to the Wall Street Journal. 8 00:00:30,960 --> 00:00:34,000 Speaker 2: Merk is no longer in talks to buy a Revolution 9 00:00:34,120 --> 00:00:37,000 Speaker 2: Medicines says after the two could not agree on a price. 10 00:00:37,280 --> 00:00:39,720 Speaker 2: This deal would have been big though for Revolution Medicines. 11 00:00:39,760 --> 00:00:42,839 Speaker 2: It would have valued the company at about thirty billion dollars. 12 00:00:42,920 --> 00:00:45,600 Speaker 2: But this report says that, you know what, talks could 13 00:00:45,600 --> 00:00:49,920 Speaker 2: still restart. Another suitor could emerge. Merk's looking for deals 14 00:00:49,920 --> 00:00:52,199 Speaker 2: that will strengthen its portfolio. You know, so it was 15 00:00:52,240 --> 00:00:54,040 Speaker 2: looking at Revolution Medicines, but they couldn't come up with 16 00:00:54,040 --> 00:00:54,360 Speaker 2: a price. 17 00:00:54,480 --> 00:00:56,960 Speaker 3: Five hundred and thirty four employees. I don't know how 18 00:00:57,040 --> 00:00:59,960 Speaker 3: much said is divided by that billion dollars. Sways, yep, 19 00:01:00,280 --> 00:01:03,760 Speaker 3: up one hundred and six percent before yep, this news 20 00:01:04,040 --> 00:01:06,560 Speaker 3: twelve one's trailing there. It is there I don't think 21 00:01:06,560 --> 00:01:09,360 Speaker 3: it's a down component, but what's next? 22 00:01:09,880 --> 00:01:13,039 Speaker 2: US Rare Earth like this one this morning was better 23 00:01:13,040 --> 00:01:14,640 Speaker 2: than twenty two percent. 24 00:01:14,680 --> 00:01:15,120 Speaker 3: So get this. 25 00:01:15,319 --> 00:01:17,399 Speaker 2: They signed a deal with the government. They're going to 26 00:01:17,400 --> 00:01:20,640 Speaker 2: receive one point six billion in funding to speed up 27 00:01:20,680 --> 00:01:24,960 Speaker 2: production of key rare earth elements because we know that 28 00:01:25,000 --> 00:01:27,720 Speaker 2: to the Trump administration wants to be independent in this 29 00:01:27,760 --> 00:01:32,119 Speaker 2: regard and lean less on China. So as a result, Trump, 30 00:01:32,200 --> 00:01:34,080 Speaker 2: the Trump administration is going to get a ten percent 31 00:01:34,120 --> 00:01:37,039 Speaker 2: steak and US Rare Earth. It's also a big day 32 00:01:37,040 --> 00:01:38,959 Speaker 2: for the company because in addition to that, like that 33 00:01:39,040 --> 00:01:42,959 Speaker 2: wasn't enough, there's a separate one billion dollar private investment 34 00:01:43,240 --> 00:01:46,920 Speaker 2: that they're going to announce later this morning. So we 35 00:01:46,959 --> 00:01:49,920 Speaker 2: saw this stock rally nine percent on Friday and anticipation 36 00:01:50,080 --> 00:01:52,560 Speaker 2: of this, uh you know, news that the White House 37 00:01:52,600 --> 00:01:54,320 Speaker 2: is taking a steak in the company now up twenty 38 00:01:54,360 --> 00:01:54,840 Speaker 2: two percent. 39 00:01:55,000 --> 00:01:57,480 Speaker 3: I guess it's a future thing. I mean, the market 40 00:01:57,520 --> 00:01:59,880 Speaker 3: cap is through the roof, but you know it's the 41 00:02:00,080 --> 00:02:04,000 Speaker 3: financials are Yes, zero revenue in twenty twenty five, forty 42 00:02:04,000 --> 00:02:05,720 Speaker 3: two million projectors at twenty six. 43 00:02:05,880 --> 00:02:06,360 Speaker 1: There you go. 44 00:02:06,600 --> 00:02:10,639 Speaker 3: So this is a concept stock. I guess, very good. 45 00:02:11,120 --> 00:02:15,519 Speaker 2: Yeah, the concept stock. Yeah, and also the list is growing, 46 00:02:15,600 --> 00:02:17,680 Speaker 2: right of how many companies the White House is taking 47 00:02:17,680 --> 00:02:21,000 Speaker 2: a stake in Intel, I looked it up, Lithium, Americans, Vulcan, 48 00:02:21,440 --> 00:02:23,440 Speaker 2: MP materials. Too many for us to name right. 49 00:02:23,320 --> 00:02:24,400 Speaker 1: Now, it's just too much. 50 00:02:24,440 --> 00:02:25,840 Speaker 3: It's just too much more. 51 00:02:26,280 --> 00:02:29,480 Speaker 2: All right, core Weave up more than eight percent. So 52 00:02:29,560 --> 00:02:32,240 Speaker 2: in Vidia, which we know is the world's most valuable company, 53 00:02:32,280 --> 00:02:36,880 Speaker 2: investing in additional an additional two billion dollars in core Weave. 54 00:02:37,240 --> 00:02:38,959 Speaker 2: And this is to help speed up plans to add 55 00:02:38,960 --> 00:02:42,320 Speaker 2: more than five gigawatts of AI computing capacity. I can't 56 00:02:42,320 --> 00:02:44,120 Speaker 2: even like wrap my head around that by the year 57 00:02:44,160 --> 00:02:46,799 Speaker 2: twenty thirty. Now, as part of this deal, core Weave 58 00:02:46,840 --> 00:02:48,799 Speaker 2: is going to be among the first to deploy new 59 00:02:49,080 --> 00:02:53,040 Speaker 2: in Vidia products that includes storage systems. And remember this 60 00:02:53,639 --> 00:02:57,000 Speaker 2: central processing unit CPU that is big in AI. We're 61 00:02:57,040 --> 00:02:59,360 Speaker 2: going to be hearing a lot about it. Under this agreement, 62 00:02:59,400 --> 00:03:01,480 Speaker 2: in Video is going to assist core Weave with the 63 00:03:01,520 --> 00:03:04,680 Speaker 2: purchase of land and power for its data centers, and 64 00:03:04,720 --> 00:03:09,040 Speaker 2: it will also market Corewave's AI software and architecture designed 65 00:03:09,120 --> 00:03:11,679 Speaker 2: to cloud partners. So you know, they're just getting a 66 00:03:11,680 --> 00:03:14,640 Speaker 2: little bit closer. This partnership is becoming even stronger with 67 00:03:14,680 --> 00:03:15,760 Speaker 2: this two billion dollar. 68 00:03:15,680 --> 00:03:19,320 Speaker 3: Cash infusion and Core We've did the IPO back in 69 00:03:19,400 --> 00:03:22,520 Speaker 3: March of twenty twenty five at forty dollars a share. 70 00:03:22,840 --> 00:03:25,840 Speaker 3: Stock now trades at you know, ninety two and changed, 71 00:03:25,880 --> 00:03:27,840 Speaker 3: so nice move for the Core IIM shareholders. 72 00:03:28,919 --> 00:03:32,960 Speaker 1: This Stock Movers report from Bloomberg Radio. Check back with 73 00:03:33,040 --> 00:03:35,600 Speaker 1: us throughout the day for the latest roundup of companies 74 00:03:35,680 --> 00:03:38,800 Speaker 1: making news on Wall Street and for the latest market 75 00:03:38,800 --> 00:03:43,280 Speaker 1: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 76 00:03:43,360 --> 00:03:46,880 Speaker 1: Bloomberg dot com, and on Applecarplay and Android Auto with 77 00:03:46,960 --> 00:03:48,440 Speaker 1: the Bloomberg Business app.