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: I'm Tim Stanebeck along with Carol Masser. Let's take a
Speaker 3: look at some stocks on the move today. We're joined
Speaker 3: by Bloomberg News earning specialists Rachel Whoa she joins us
Speaker 3: here in the studio, A and D a late mover
Speaker 3: after hours.
Speaker 4: Yeah, I think no one expected it, especially with Nvidio
Speaker 4: kind of taking the spotlight earlier today. An AMD, you know,
Speaker 4: clearly one of Nvidia's biggest A chips rivals. So I
Speaker 4: think that the kind of the stock move kind of
Speaker 4: came after the company says it expects annual revenue growth
Speaker 4: to be more than thirty five percent on average over
Speaker 4: the next three to five years. It's CEO Lisas who
Speaker 4: was like speaking at a company event today, And I
Speaker 4: think the numbers likely appe these fears that there's been
Speaker 4: a lot of hype and froth over AI right now,
Speaker 4: and you know, all the huge vending on new AI
Speaker 4: computing systems can be sustained. But I guess those numbers,
Speaker 4: you know, are making investors kind of happy.
Speaker 1: Yeah, we definitely are seeing a movement of appum as
Speaker 1: four percent here and I think some of the overall
Speaker 1: data growth and you know, it just seems like that
Speaker 1: AI trade like giving some support in a big way.
Speaker 1: Fed x fd X is the ticker. What'd you find
Speaker 1: out there? What did we see today?
Speaker 2: Yeah?
Speaker 4: So it's CFO was also speaking today and he said
Speaker 4: that now it expects profits this quarter to improve from
Speaker 4: a year ago. I think this kind of contrasting what
Speaker 4: investors initially expected that it would be slightly worse than
Speaker 4: last year. You know, they were concerned about we holiday season,
Speaker 4: that tot taiffs would affect costs. And then also the
Speaker 4: company will have to ground about four percent of its
Speaker 4: fleet after the fatal ups crash last week. So clearly
Speaker 4: the comments today are relieved to investors as well.
Speaker 3: All right, Well back to AI a little bit. In
Speaker 3: core Weave some big moves from Corewave today.
Speaker 4: Yeah, so you know, it looks like it tumbled today
Speaker 4: after it cut its annual sales forecast. I think this
Speaker 4: kind of came after the company said that data centered
Speaker 4: delay will hurt its fourth quarter results. You know, and
Speaker 4: a company has been racing to expand its data centered network.
Speaker 4: But I think this is a setback that kind of
Speaker 4: shows the growing pains of scaling fast. With CEO also,
Speaker 4: you know on Bloomberg TV earlier today, and you know,
Speaker 4: he said that now it's trying to work to diversify
Speaker 4: its suppliers to avoid kind of similar issues down the road.
Speaker 4: And you know, we've seen the results that despite the delay,
Speaker 4: you know, it's revenue backlog has nearly doubled from a
Speaker 4: year ago, which you know, I think some investors are
Speaker 4: he is assigned that demand for AI computing power remains strong.
Speaker 2: Well.
Speaker 1: Listen, we talked with our Man Deep saying about this
Speaker 1: and Caroline Hide b Tech on BTV who had she
Speaker 1: along with that Leedler spoke to the core Weave CEO,
Speaker 1: but Man Deep saying specifically, right, the backlog is there
Speaker 1: these companies that need the services of core Weave. I
Speaker 1: mean they make these commitments, right, these contracts that they
Speaker 1: need access in order for all the compute if you will,
Speaker 1: that's required by a AI, and so the demand continues
Speaker 1: to be there.
Speaker 3: Yeah, I mean I just wonder, and this is a
Speaker 3: question that we can talk about with Manteep of Blueberg Intelligence.
Speaker 3: Man deep sing But what are the other companies that
Speaker 3: could spring up, not in Corey's place, but could supplement
Speaker 3: what Core We've offers. Went through a few of them today.
Speaker 3: If Core We've does face these challenges. Yeah, and all
Speaker 3: these companies are facing the challenges well. And we've gone.
Speaker 1: From the hyperscalers right, and then you've got the neo
Speaker 1: This are the traditional clouds, the big guys, the neo
Speaker 1: cloud and it just keeps kind of broadening out, but
Speaker 1: the demand continues to accelerate.
Speaker 4: We time for one more hopefully sure, Okay, I mean
Speaker 4: this is something close I guess close to home geographic y.
Speaker 4: This is like a you know as a Solva's Asian
Speaker 4: tech company that space in Singapore. It's known for its
Speaker 4: gaming company. It's it's a digital finance but all ice
Speaker 4: this quarter one shopping platforms Shoppy. A lot of people
Speaker 4: in the region are kind of still buying things on
Speaker 4: the apps, you know, but Shoppy is facing more and
Speaker 4: more competition from TikTok Shop, Ali Baba's Lozada PDDs team
Speaker 4: and you know, everyone's trying to get customers through you know,
Speaker 4: promotions and discounts, cheap deliveries. So this has eaten into
Speaker 4: profits and sees shares were down I Know after its
Speaker 4: earnings missed estimates.
Speaker 2: This stock Movers report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news on Wall Street and for the latest market
Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,
Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with
Speaker 2: the Bloomberg Business app.