Premarket Movers｜CoreWeave Rises 2%; Voyager Jumps 6%; GameStop Tumbles 13%; Oklo Declines 6%; Chinese ETFs and ADRs Fall; XPeng Drops 4%; Li Auto, Nio down 2%
Chinese ETFs and ADRs fell in premarket trading on Thursday. XPeng fell 4%; YINN fell 3%; Li Auto, Nio fell 2%; Alibaba, PDD Holdings fell 1%.
CoreWeave, Inc. stock rose 2% in premarket trading on Thursday.
CoreWeave has emerged as a winner in Google's newly signed partnership with OpenAI, sources familiar with the matter told Reuters, in the latest example of the voracious appetite for computing resources in the artificial-intelligence industry and the formation of new alliances to meet them.
The so-called neocloud company, which sells cloud computing services built on Nvidia's graphics processing units, is slated to provide computing capacity to Google's cloud unit, and Alphabet's Google will then sell that computing capacity to OpenAI to meet the growing demand for services like ChatGPT, the sources said. Google will also provide some of its own computing resources to OpenAI, added the sources, who requested anonymity to discuss private matters.
GameStop shares fell 13% in premarket trading on Thursday after the company announced plans for a big convertible notes offering expected largely to fund its Bitcoin-buying aims.
The company in a press release said it was offering $1.75 billion in the notes, with as much as $250 million more available to initial purchasers of the notes. The news affirmed plans announced in March.
Oklo Inc. shares fell 6% in premarket trading on Thursday after commencing a public offering of $400M of common shares, with an underwriters option to purchase up to an additional $60M of common shares.
Voyager Technologies, Inc. rose 6% in premarket trading on Thursday.
Voyager Technologies secured a valuation of $3.8 billion after the defense and space firm's shares more than doubled in their U.S. debut, signalling strong interest in the sector expected to thrive under the Trump administration.
The Denver, Colorado–based company's stock opened 125% higher on Wednesday at $69.75 apiece, above the $31 offer price. Voyager raised $382.8 million by selling nearly 12.4 million shares in an upsized IPO.
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