Every day, we handpick the 5 Top Stories stock market investors need to know. In 5 minutes, you’ll learn the stocks, CEOs, and money managers moving markets.
“As Significant as Windows 95”: Qualcomm + Microsoft
The US chip firm [QCOM] is manufacturing the semiconductors underpinning Microsoft’s [MSFT] new generation of Copilot+ PCs. At the Computex trade show on Monday, CEO Cristiano Amon said the new models are “as significant as Windows 95.” At the same conference, Advanced Micro Devices [AMD] CEO Lisa Su said that its new MI325X chip will go on sale in Q4, while Nvidia [NVDA] CEO Jensen Huang announced a Blackwell Ultra chip for 2025 and a next-generation platform called Rubin for 2026.
Microsoft Boosts AI Infrastructure in Sweden
On Monday Microsoft announced it is to invest some $3.2bn in artificial intelligence (AI) and cloud facilities in Sweden, its biggest-ever infrastructure commitment in the country. This will go towards adding some 20,000 GPUs across its three existing data centres there, with a view to leveraging Sweden’s plentiful supply of green energy. Microsoft will also train some 250,000 people in “essential AI skills”, Bloomberg reported.
Zantac Lawsuits Can Go Ahead
In a setback for GSK [GSK:L], a Delaware judge has allowed more than 70,000 lawsuits to go forward, alleging the heartburn drug Zantac caused cancer. The GSK share price dropped more than 9% on Monday after the news, even while the drugmaker said it would appeal; the drop wiped some £7bn from its market value. Citi analysts expect settlement costs related to Zantac to be in the region of $2–3bn, according to Reuters.
Icahn: Cards on the Table
Famed activist investor Carl Icahn has amassed a sizable position in Caesars Entertainment [CZR], according to sources quoted by Bloomberg. However, Icahn told the news agency: “There’s absolutely no activism contemplated in Caesars”. Shares in the casino company jumped as much as 18% following the news on Friday, in their biggest intraday rally since November 2022.
Roaring Kitty Strikes Again
Gaming and electronics retailer GameStop [GME] rallied more than 70% premarket Monday, after Keith Gill, also known as Roaring Kitty, announced he had taken a $115.7m stake in the company, sharing a screenshot on Reddit [RDDT] showing he had bought 5 million shares and 120,000 call options. Investors also piled into other meme stocks, among them AMC Entertainment [AMC] and Tupperware [TUP], which gained 25% and 9% respectively.
Disclaimer Past performance is not a reliable indicator of future results.
CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.
CMC Markets does not endorse or offer opinion on the trading strategies used by the author. Their trading strategies do not guarantee any return and CMC Markets shall not be held responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein.
*Tax treatment depends on individual circumstances and can change or may differ in a jurisdiction other than the UK.
Continue reading for FREE
- Includes free newsletter updates, unsubscribe anytime. Privacy policy
