On this episode of Stock Movers:
Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Matt Miller, Carol Massar and Tim Stenovec.
- Nvidia (NVDA) shares rallied on word it will invest as much as $100 billion in OpenAI to support new data centers and other artificial intelligence infrastructure, a blockbuster deal that underscores booming demand for AI tools like ChatGPT and the computing power needed to make them run. The companies announced the agreement Monday, saying they’d signed a letter of intent for a strategic deal. The investment is meant to help OpenAI build data centers with a capacity of at least 10 gigawatts of power — equipped with Nvidia’s advanced chips to train and deploy AI models. Investors applauded the tie-up, sending Nvidia shares up 3.9% in New York trading. The stock has now gained about 37% this year, cementing the company’s status as the most valuable business on Earth.
- Oracle (ORCL) accelerated its succession plans for top leadership in recent months following a massive acceleration in its cloud business and stock market rally. In June, the software giant promoted two executives — Clay Magouyrk and Mike Sicilia — to president. At that time, the plan was to eventually elevate those leaders into co-CEO roles in a year or two, according to a person who asked not to be named discussing internal plans. The shares gained 6.3% to $328.15 at the close Monday in New York and have jumped 97% this year.
- Kenvue (KVUE) shares dropped to a record low today on the Washington Post's reporting that the President was planning to link its Tylenol brand of medication to autism. After the closing bell, President Trump did make the announcement, saying that pregnant women should avoid taking Tylenol due to a reported link between the active ingredient in the medication and autism.
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