WEBVTT - OpenAI-AMD Deal; Fifth Third Buys Comerica; Tesla Advancing

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,

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<v Speaker 1>your roundup of companies making moves in the stock market,

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<v Speaker 1>harnessing the power of Bloomberg Data. Let's take a look

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<v Speaker 1>at some stocks on the move today. I'm Tim Keen

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<v Speaker 1>with Paul Sweeney and Bloomberg's Lisa Mateo.

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<v Speaker 2>It's a two hour edition.

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<v Speaker 3>It is. We'll start with the big one of the day.

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<v Speaker 3>So this is Advanced micro Devices ticker AMD. Their shares

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<v Speaker 3>have been up more than thirty percent. Now, if the

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<v Speaker 3>rally holds when the markets open, the company would have

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<v Speaker 3>its biggest int digging in more than nine years. So

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<v Speaker 3>the big news, Yes, it's signed a deal with open

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<v Speaker 3>Ai for AI infrastructure worth tens of billions of dollars.

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<v Speaker 3>What will happen under this agreement, Well, open ai is

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<v Speaker 3>going to deploy six gigawatts of AMD GPUs multiple years.

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<v Speaker 3>And you say, what is six gigawatts? I don't know.

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<v Speaker 3>I had to look it up. So ten gigawatts just

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<v Speaker 3>to give you, I feel like it's back to the future.

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<v Speaker 3>Gigawatts of powers equal to the peak electricity demand of

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<v Speaker 3>New York City. So that's the kind of kids of

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<v Speaker 3>the couch with Robin Hood, it's crazy. Next Okay, So

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<v Speaker 3>next one is co America. It's sicker CMA up as

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<v Speaker 3>much as fourteen percent the news first fifth Third Bank Corp.

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<v Speaker 3>Agreed to buy the bank for about ten point nine

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<v Speaker 3>billion in stock, the largest US bank deal of the year.

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<v Speaker 3>It's going to create the ninth largest bank in the

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<v Speaker 3>country two hundred and eighty eight billion dollars in assets.

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<v Speaker 3>So here's the First Third is based in Cincinnati, so

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<v Speaker 3>it's been known for this reach across the Midwest, right,

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<v Speaker 3>but it's been trying to expand in the Southeast. So

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<v Speaker 3>a deal with Dallas based co America is going to

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<v Speaker 3>help them. And then co America also has its focused

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<v Speaker 3>on commercial banking for middle market companies. But the CA

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<v Speaker 3>America's really been under a lot of pressure from its

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<v Speaker 3>activist investor group. It's, you know, trying to sell to

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<v Speaker 3>a large bank, this pressure to get there. They just

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<v Speaker 3>brought up the total return of k America eight point

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<v Speaker 3>eight percent before the pop this morning.

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<v Speaker 1>What took so long?

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<v Speaker 2>Am I wrong to ask that? Paul? No, I don't

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<v Speaker 2>think so. I mean, we've been asking this question really

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<v Speaker 2>since the Great Crisis, and then you know, like do

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<v Speaker 2>we need this many regional banks. I don't know.

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<v Speaker 3>I don't know.

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<v Speaker 2>I mean I would argue it's it works, it's worked

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<v Speaker 2>for our economy. But a lot of bankers come in

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<v Speaker 2>here and say, you know, there conna be some more

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<v Speaker 2>consolidation in the banking space. So we'll see.

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<v Speaker 3>I saw who was involve Keith Involve Gold and Sex.

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<v Speaker 2>Other usual view organs. Yeah, but yeah, Keith.

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<v Speaker 3>Lawyer's guns is money there it is regional. Next we

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<v Speaker 3>got all right, I gotta hit Tesla t s LA

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<v Speaker 3>or share them with up two percent. Okay, here's why

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<v Speaker 3>a number of social media posts this is what's kind

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<v Speaker 3>of moving things nowadays. Okay, so they want posted a

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<v Speaker 3>video clip. It was a black hub cup hubcap like

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<v Speaker 3>object Tesla logo on it. It was spinning basically before

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<v Speaker 3>flashing the numbers ten seven, which you think about. It

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<v Speaker 3>is tomorrow's date, so people are saying, oh, there's gonna

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<v Speaker 3>be a big product reveal tomorrow. The second post was

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<v Speaker 3>a show. It showed a car parked and pitch black

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<v Speaker 3>darkness and then it shows the headlights beam go on. Okay,

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<v Speaker 3>so the last Tesla introduced new products, it was two

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<v Speaker 3>years ago. The cyber truck. Okay, So that did okay.

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<v Speaker 3>But the stock, you know, it kind of took down

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<v Speaker 3>last week, so now it's starting to pick up. I

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<v Speaker 3>mean it tacked down because it posted record quarterer sales.

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<v Speaker 3>But investors are saying, you know what, it's going to

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<v Speaker 3>be hard for them to keep up that momentum now

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<v Speaker 3>that those EV subsidies kind of expired.

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<v Speaker 2>In the US, I don't see so many cybertructs are ound.

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<v Speaker 3>I still see a couple more of them, Yes, I do.

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<v Speaker 3>I do see it a little bit more. Yeah, So Tesla.

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<v Speaker 1>There you go the Stock Movers report from Bloomberg Radio.

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<v Speaker 1>Check back with us throughout the day for the latest

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<v Speaker 1>roundup of companies making news on Wall Street and for

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<v Speaker 1>the latest market moving headlines. Listen to Bloomberg Radio Live,

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