Stock Movers AMD Inks Chip Deal, VZ Names New CEO, Fifth Third to Buy Comerica
Oct 6, 2025
A major deal between Advanced Micro Devices and OpenAI sparks a rally, setting AMD up as a competitor in the AI computing space. In banking news, Fifth Third Bancorp's $10.9 billion acquisition of Comerica marks the largest US bank deal this year, signaling a shift in merger activity. Meanwhile, Verizon faces challenges as it replaces its CEO, aiming to regain market share after falling behind rivals. Exciting developments across tech and finance are reshaping the landscape!
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AMD’s Blockbuster OpenAI Partnership
- AMD struck a multi-year strategic deal with OpenAI to build AI infrastructure that could generate tens of billions in revenue.
- The market rewarded the tie-up despite risks of tying growth to a potentially frothy AI market.
Market Rush Outpaced Bubble Worries
- Traders piled into AMD shares, sending the stock up as much as 38% and adding about $68 billion in market value.
- Market enthusiasm outweighed concerns about AI market concentration or bubble risks on the news.
Verizon’s Surprise Leadership Shift
- Verizon named Dan Schulman CEO amid sliding market share and surprise management changes that triggered the stock drop.
- The appointment signals a push to revive growth using Schulman’s telecom and fintech experience, notably at PayPal.