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 at some stocks on the move today. I'm Tim Keen with Paul Sweeney and Bloomberg's Lisa Mateo.
It's a two hour edition.
It is. We'll start with the big one of the day. So this is Advanced micro Devices ticker AMD. Their shares have been up more than thirty percent. Now, if the rally holds when the markets open, the company would have its biggest int digging in more than nine years. So the big news, Yes, it's signed a deal with open Ai for AI infrastructure worth tens of billions of dollars. What will happen under this agreement, Well, open ai is going to deploy six gigawatts of AMD GPUs multiple years.
And you say, what is six gigawatts? I don't know. I had to look it up. So ten gigawatts just to give you, I feel like it's back to the future. Gigawatts of powers equal to the peak electricity demand of New York City. So that's the kind of kids of the couch with Robin Hood, it's crazy. Next Okay, So
next one is co America. It's sicker CMA up as much as fourteen percent the news first fifth Third Bank Corp. Agreed to buy the bank for about ten point nine billion in stock, the largest US bank deal of the year. It's going to create the ninth largest bank in the country two hundred and eighty eight billion dollars in assets. So here's the First Third is based in Cincinnati, so it's been known for this reach across the Midwest, right,
but it's been trying to expand in the Southeast. So a deal with Dallas based co America is going to help them. And then co America also has its focused on commercial banking for middle market companies. But the CA America's really been under a lot of pressure from its activist investor group. It's, you know, trying to sell to a large bank, this pressure to get there. They just brought up the total return of k America eight point eight percent before the pop this morning.
What took so long?
Am I wrong to ask that? Paul? No, I don't think so. I mean, we've been asking this question really since the Great Crisis, and then you know, like do we need this many regional banks. I don't know.
I don't know.
I mean I would argue it's it works, it's worked for our economy. But a lot of bankers come in here and say, you know, there conna be some more consolidation in the banking space. So we'll see.
I saw who was involve Keith Involve Gold and Sex.
Other usual view organs. Yeah, but yeah, Keith.
Lawyer's guns is money there it is regional. Next we got all right, I gotta hit Tesla t s LA or share them with up two percent. Okay, here's why a number of social media posts this is what's kind of moving things nowadays. Okay, so they want posted a video clip. It was a black hub cup hubcap like object Tesla logo on it. It was spinning basically before flashing the numbers ten seven, which you think about. It is tomorrow's date, so people are saying, oh, there's gonna
be a big product reveal tomorrow. The second post was a show. It showed a car parked and pitch black darkness and then it shows the headlights beam go on. Okay, so the last Tesla introduced new products, it was two years ago. The cyber truck. Okay, So that did okay. But the stock, you know, it kind of took down last week, so now it's starting to pick up. I mean it tacked down because it posted record quarterer sales.
But investors are saying, you know what, it's going to be hard for them to keep up that momentum now that those EV subsidies kind of expired.
In the US, I don't see so many cybertructs are ound.
I still see a couple more of them, Yes, I do. I do see it a little bit more. Yeah, So Tesla.
There you go the Stock Movers 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.