Yahoo Finance’s Alexandra Canal takes stock of Monday’s biggest developments.
AMD (AMD): Shares of the chipmaker rose about 2% early Monday after the company plans announced to acquire hyperscale solutions provider ZT Systems in a deal valued at $4.9 billion.
The deal comes as AMD looks to expand its AI infrastructure to compete with market leader Nvidia (NVDA). AMD shares are up just over 2% year to date, while Nvidia shares are up about 150%. Nvidia will report second-quarter results next week.
Palantir (PLTR): Data analytics company Palantir was in the spotlight Monday after co-founder and CEO Alex Karp participated in a New York Times in-depth profileIn the interview, Karp, who largely stays out of the spotlight, defended his military partnerships, discussed his political views and laid out Palantir’s origin story, as well as his relationship with co-founder Peter Thiel.
Palantir has recently come under fire for its work with the U.S. military and Immigration and Customs Enforcement (ICE). The company notably does not do business with China, Russia, or other countries openly opposed to Western ideologies.
fuboTV (FUBO): Shares of sports streamer fuboTV rose another 30% Monday after a ruling Friday temporarily blocked the launch of Venu Sports, the upcoming sports streaming service from Disney’s ESPN (DIS), Warner Bros. Discovery (WBD) and Fox (FOXA).
District Judge Margaret Garnett ruled in her ruling that launching the joint venture would “significantly lessen competition and restrict trade.” It would also lead to “a rapid exodus of large numbers of Fubo subscribers” and that “Fubo’s bankruptcy and delisting will likely follow soon. These are fundamental harms that money cannot adequately repair.”
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