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.
I'm Carol Masser along with Tims Jenevick. Let's take a look at some stocks on the move this week. We're joined by Bloomberg cross At reporter Isabelle Lee. So god, there was so much coming at.
Us this week, so much, but we have to talk about Intel. The stock is up more than twenty percent this week, so optimism was just really everywhere after Nvidia agreed to invest around five billion dollars in Intel, and they said that both of them will code develop chips for PCs and data centers. So this is a surprise move from Nvidio because they're really helping an ailing arch rival, and of course you can imagine Intel Intel shares just jumping.
So Intel said it will use in Video's graphics technology in upcoming PC chips and provide processors for data centers. So the agreement is expected to help both of them because of course both of them can't really reached the entire market, but it will help them reach markets that they haven't reached.
Just yet.
And again, I think this just really speaks to invidious power.
It's like one of those moments you complete me.
Yes, Video is saying to Intel you complete me. Jerry Maguire help saying to Video you complete me.
Yes.
That's what marriage is supposed to be, I guess, or any kind of partnership. This isn't the different.
I have a different view on this. Oh yeah, It's like it's a very savvy move by in Video. I think, you know, think about who one of the largest owners of Intel is right now, it's the US government. What happens if in Nvidia makes this commitment, a five billion dollar commitment to this company. I like, this guts up,
it does sense. But I will say, to push back on my own comment, we spoke to Ed Ludlow all about this at one point this week, and he had spoken and heard from Jensen Wong and Bhutan and uh. The the story is that this was in this this was into discussions before the US even took the stake. So it's like you said, it's strange, bedfellows, but.
It's right, and it's a pragmatic approach by Intel to just really go along with it. But also just is a show of force on how Nvidia can really dictate what goes on in the industry based on their sheer size.
No, it's a really good point. It's like it almost feels like all roads lead back to Nvidia in so many different ways, all right, from Intel to another tech name that I feel like has been on our radar the last couple of weeks, but then like late Friday really came on our radar.
That's Oracle.
Ticker is ourcl So it's up five percent for the week, but the boost was really on Friday, and the stock was up on Friday four percent. So Oracle is said to be in talx with Meta for a cloud computing deal worth around twenty billion dollars. So under this multi year deal, Oracle would be providing Meta with computer computing power for training and deploying AI models. That's according to people familiar with the matter. So the total commitment amount
may increase, of course, but it's not final yet. But the contract would add to a series of wins for Oracle, and it's generally cloud computing business. So last week we know that Oracle reported huge increase in bookings, and of course that push it push it stocked on all time high and made Larry Ellison for a brief moment the richest person.
Honors Elon's backup on top.
I know, I know, it's just really staggering when I imagine their wealth, But that's another story.
I think even though he's the second, I think he's okay. I think Larry's he's okay.
Damn.
Even if you're in the one hundredth list, even in your one thousand, I think that's okay.
Okay, thank you for that clarification.
It's kind of wild, you know. I took a look at Oracle because, like we've talked about what a run as had year to date here, but if you go back to kind of the middle late portion of April, stock is up one hundred and fifty one.
Pretty sent Yeah.
Yeah, And I feel like we've been talking about Oracle so much and how it's really been, you know, working on beefing up its AI cloud business.
Listen, if you're the richest or the second richest person in the world, you can afford a lot of all you can eat breadsticks from Olive Garden. I love this seg Are they all you can eat?
I don't know.
Only I take salad and I have.
To say when my dad, he used to love this in his older age because I think you can get all the salad you want, the breadsticks. It was really sweet and had soup and I don't know, it was kind.
Of a fall.
So the stock we're talking about is Darden Restaurants. Take our dri I and I picked this because it's down for the week, it's down twelve percent. So Darden Restaurants reported disappointing first quarter fiscal results on Thursday, So this prompted a slew of analysts to really just slash their price targets, from Barclays to Bairds. So Darden owns one of the fan faded restaurants like Olive Garden. I've been to one and Longhorn. I haven't been to one. Have you guys been to.
I've never been to Longhorn. Olive Garden absolutely.
Yeah, totally wall.
Is there an Olive Garden in New York? I don't think I was in New York when I.
I have not been to one in New York. Yeah, they're used. I believe there used to be. I don't know. I'm not even gonna say it. I don't want to get it wrong.
Okay, I just have to tell you they used to have this meal was like the tour of Italy, and I think it was like a little bit of either eight plant palm and a little maybe a little I'm getting hungry cat get like three like different things.
Okay, I was all it that sounds yummy, because I'm glad you brought that up. Because one of the news that came out was also that all of Garden will have smaller portioned, lower priced entrees, and of course that reflects broader shift and dining. Millions of Americans are taking weight loss drugs and also just really not going out
to eat because it's expensive. But I like this because I always tell my husband sometimes I wish restaurants would offer half a portion, even if they make it more expensive, like let's say a whole dish is twenty dollars, and if half a twelve dollars, I'd still take it because more than spending twenty dollars, it's I just feel like I'm wasting so much treat.
You take it home, you take it off the forest, and the next day or a little puppy gets up.
I like it because then you know, when my wife doesn't finish the food. She just sees me staring at it, and she just pushes you are it's like human, like a human garbage disposal. That's what you can.
That's good I get. I think the So it happens with when you have little kids too. They say, yeah, right, interested everything.
Darton, as you said, down thirteen percent this week, So a little bit of a bummer. You are always a pleasure. Isabell Lee. She's a Bloomberg Crossasset reporter, joining us with Stocks on the Move this.
Past week 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.