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The Stock Movers Report, your roundup of companies making moves in the stock market harnessing the power of Bloomberg Data.
Let's take a look at some stocks on the move today. I'm Nathan Hager, joined by Bloomberg's Valerie Titel and Valerie. When we think about the AI trade, IBM doesn't always come as top of mind, but it certainly does this morning. Good morning, Good morning, Nathan.
Yes, IBM shares are trading strong out of the gates in the pre market, up five percent after they've announced a partnership with Anthropic. Now it will use anthropics Claude family of large language models into its software portfolio. The company is saying that the deal is aimed at delivering new productivity gains for IBM clients and perhaps some upside for IBM shareholders. So shares are up five percent so far this morning.
Yeah, we saw some upside for Advanced micro Devices after their big AI deal, and it looks like the gains continue this morning.
The gains continue for AMD, up another four percent so far in pre market trade after their rip roaring rally of yesterday which saw their share soore twenty four percent after they announced a partnership with open Ai. Now it is getting a more steam this morning. This is on the back of an upgrade from Jeffries, who have cited a price target that amounts to an extra fifty percent
upside potential in the stock. The analyst at Jeffries noting that the open Ai deal is a strong validation of AMD's AI roadmap to compete with the dominant Nvidia in the AI processor space, and Jeffries has cited one hundred billion in revenue could come AMD's way over the next four years out of this open Ai deal announced yesterday.
And it looks like the deal news continues this morning, Valery, there are reports that the owner of the New York Stock Exchanges thinking about getting in to the betting markets to send this one.
It's very interesting. This is a report by the Wall Street Journal that the NYSE owner is in talks to invest two billion dollars in poly Market. So we're seeing shares a venture Continental Exchange or ICE up nearly four percent in pre market trade. The investment in Polymarket would be in an exchange for a stake that would see the popular crypto based prediction market valued as much as ten billion dollars. The deal could be announced as soon
as Tuesday, the report says. But polymarket really gained a lot of attention by markets and traders. It was a useful tool during the presidential election. Currently is privately held and counts billionaire Appeel Teals venture capital fund founder's fund as one of its investors.
And we've already got another deal announced for a US government stake in another company. This one could open up things in Alaska.
That's right.
Trilogy Metals is soaring one hundred and eighty five percent after it was announced at the US is taking a ten percent steak in the Canadian Minerals explore the deal is set to unlock mining projects in remote Atlas, Alaska. But Nathan, this is really just the latest example of the Trump administration taking steaks in a miner to help
counter China's dominance in rare earth. They did so with MP Materials earlier this year, with Lithium America's a few weeks ago, and now have their eye on some assets in Alaska with this investment in Trilogy Metals.
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