What's on the News?

• Advanced Micro Devices, Inc.(AMD) surged 23.71% on October 7, hitting a new high since March 2024, after announcing a multi-year deal with OpenAI to provide AI infrastructure computing power using its Instinct GPUs and issuing up to 160 million warrants to OpenAI.
• Tesla, Inc.(TSLA) rose 5.45% amid speculation of a new model launch on October 7, following a record 497,100 deliveries in Q3, while facing shareholder pressure over CEO Elon Musk's compensation and board elections.
• Nvidia Corporation(NVDA) fell 1.11% despite Goldman raising its target price to US$210 due to OpenAI's partnership with AMD; NVDA had previously announced a potential US$100 billion investment in OpenAI, which, if completed, would make it a shareholder.
• Microsoft Corporation(MSFT) gained 2.17% as it denied rumors of canceling the next-gen Xbox, confirming active investment in first-party gaming hardware, and partnering with Advanced Micro Devices, Inc.(AMD) for custom chips to significantly boost next-gen Xbox performance.
• Palantir Technologies Inc.(PLTR) rose 3.73% despite a US Army memo labeling its NGC2 prototype system, led by Anduril and involving PalantirPLTR and Microsoft Corporation(MSFT) , as "very high risk" due to "critical flaws" in basic security controls.
• Applovin Corporation(APP) fell 14.03% amid reports that the mobile ad tech company is under SEC investigation for its data collection practices.
• Taiwan Semiconductor Manufacturing Company Limited(TSM) climbed 3.49% following reports that its Kaohsiung plant achieved trial production of 2nm chips.
• Rigetti Computing, Inc.(RGTI) rose 4.12% after securing US$5.7 million in orders for two Novera quantum computing systems, signaling promising progress for the R&D-focused company.
• BitMine Immersion Technologies Inc(BMNR) surged 11.60% as cryptocurrency-related stocks rallied broadly in US markets on Monday.