Bloomberg Audio Studios, podcasts, radio news, 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 some of the stocks on the move today on Paul Sweeney alongside Alexis Christophers, and we're joined by Bloomber's John Tucker. John, what are you have for us today?
You ever hear of Manis now? Neither of I Well, Meta Platforms has agreed to buy Manus. This is based in Singapore. It's an artificial intelligence agent. They also have Chinese roots, which is kind of interesting. So Meta this is part of the effort to build a business around
the massive AI investment that mister Zuckerberg has undertaken. The deal right now values Manus at some two billion dollars and it's a pretty rare US acquisition of an Asian tech company, the latest multi billion dollar AI bet from Zuckerberg. The agreement was struck in only about ten days. What Meta plans to do is to continue operating and selling the man of service while also integrating it into its
own particts. Now the Manus AI agent can complete a handful of some general tasks like screening resumes, creating trip itineraries, analyzing stocks. Well, yeah, in response to basic instructions, maybe it can replace me at some point. It's backed by some of Chinese's biggest names, like Tensent Holdings. Man has shot to prominence earlier this year, not long after the debut of Deep Seek. All of its existing investors have been brought out in bought out, that is, in metas takeover.
Zuckerberg has made AI his investors the top priority, spending billions to hire researchers, building data centers, developing new models. Manus actually had an annual revenue run rate of one hundred and twenty five million dollars earlier this year from selling it it's AI agent business via subscriptions, so they could give Meta a more immediate return on some of the spending.
It doesn't look like it's doing anything to Meta stock. I mean it's down just fractionally in.
As far as you know, two billion dollars for Meta, Yeah.
It's like a drop of the john.
Talk about that.
You talk about the spending for Meta cappex in twenty twenty three twenty seven billion dollars, twenty twenty five, seventy twenty twenty six and ten talk about ramping up your spending, going all in on Ai man and he's got all.
Those people that he's hired for, you know, millions of dollars in salaries all sitting around him. It gives some degree of It gives you an idea of the degree of importancy.
Attaches manus is privately held, right, Yes, it is ok.
Tesla, let's go there are always one of the most active in the pre market and in the regular trading. They have published a compilation of analyst asim it's for vehicle deliveries to its website, and these averages for the are even more pessimistic than those that we gathered here at Bloomberg. By Tesla's count, analysts on average expected company to deliver over four hundred and twenty two thousand cars in the fourth quarter, and that's actually down about fifteen
percent from the year earlier. It compares with the Bloomberg compiled the average of four hundred and forty five thousand vehicles, a ten percent drop. Now, the investor relations team at Tesla has compiled the average delivery estimates for years, but until now they haven't shared the figures on their website.
The Carmaker en course for its second consecutive decline and annual vehicle sales, having compiled an average estimate for one point six million deliveries that is now more than eight percent from the year earlier period, and Tesla shares they've actually plunged early in the years the company retooled production lines at the assembly plants for the redesigned model. Why the period also coincides with Elon Mounsk playing a role in the Trump administry.
In doge, Tesla is up though about fourteen percent year to date.
Having said all that, let's look at a bunch of artificial intelligence related stocks as we close out. We'll call these the pick and shovel stocks. Investors seeking cutting edge ways to play it snapping up technology pick and shovel stocks. As the massive cloud service providers pour billions into new data centers, the data storage companies dominated the S and P five hundred this year. He had sand Dish shares soaring five hundred and eighty percent. That was the best
performer in the benchmark. Western Digital was in second place, Seagate Technology Holdings in fourth, and Meanwhile, some of the original AI link power providers and cable and fiber producers like Anfanhol, Corning Energy Energy, and g Vernova. They were also among the top twenty five performers.
The Stockmovers Report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.