Nvidia and Meta; Snowflake's Surge

0:00brought to you by AppleCard. This summer, earn daily cash back with AppleCard. Apply for AppleCard now and use in minutes with Apple Pay. Subject to credit approval, AppleCard is issued by Goldman Sachs Bank USA Salt Lake City Branch, termsinmoreatapplecard.com. 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 stacks on the move today. Nvidia to start with, Ticket NVDA, pre-markets and videos start gaining about full tens of 1%, they're buying hugging face for $12.93 billion. It's going to remain an open platform, Nvidia Compute's not going to be required to build out or to be deployed through hugging face, so that's the big deal. What is your big deal face? Any idea? Your drilling likes snowflakes. Yeah, it is the next stock. This is also sensitive.

1:00I'm all AI for you today. I know, but it's a 12-way-view-gillion. Yep. All right. Next one. Snowflake S-N-O-O-T-W shares absolutely surging for this one. 24% high in pre-market trading. They make software that helps organize and analyze corporate data in the cloud. It's called Coco, one of the tools that they have on offer. It's actually not that many people that use it, but they've seen a big surge in terms of customer accounts using Coco, for example, in the past quarter. So there are 9,100 customer accounts. Now, using that has gone up by 2000. Ever call, call Snowflake's results exceptional for the quarter ending in July. Product revenue increased 37% to $1.49 billion. So it's every AI company. When companies are called like Anaconda Copper, yes, Snowflake. Manly companies. Exactly. Look at the analyst. 50 buy ratings. Five holds in one cell. I think the street likes Snowflake. Yeah. Do you have one more?

2:00I do. Met up. Up 1.3%. Obviously, we know what Meta does. First of all, yeah. 1.3% high. This is the media giant that has released its most powerful artificial intelligence model. Yeah, this is the Muse Spark 1.3. I like the fact that Meta's chief AI officer, Alexander Wang, saying that Muse will be competitive with Anthropics, Claude, better than OpenAI's chat GPT 5.6 model. Having said that, our own analyst at Bloomberg are saying that the sweet spot for this thing is going to be competing with Chinese labs in this middle tier. Everyone's trying to work out. Is it only the best AI that's going to be what people spend money on and tokens on? Is there going to be a middle tier? Interesting, yeah.

3:20A trip to the state fair. And a throwback flick at the local drive-in. There are more than just items to check off the summer bucket list. There are also opportunities to earn 2% daily cash back when you use your Apple card with Apple Pay. Apply for Apple Card now and use in minutes with Apple Pay. Subject to credit approval. Apple Card is issued by Goldman Sachs Bank USA Salt Lake City Branch, termsinmoreatapplecard.com. Subscribe to the Wall Street Week Podcast on Apple, Spotify or anywhere you listen.