Closing Bell: AMD Gains, Critical Metals Rises, Verizon Down on Leadership Change

Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec.

On this episode of Stock Movers:

- Advanced Micro Devices (AMD) triggers an explosive rally after landing a a blockbuster deal with OpenAI to build artificial intelligence infrastructure, giving the chipmaker a chance to show it can mount a challenge to Nvidia Corp. in the AI computing industry. Shares were up as much as 37% at today's highs, and closed at their highest since March 2024.

- Critical Metals Corp (CRML) shares gained after a report suggesting Washington was considering a position in the rare earths company. Trading paused for volatility after a White House official said Monday that the Trump administration is not currently considering a deal that would see it take a stake in the company.

- Verizon (VZ) shares closed at the worst one-day drop since April as the company concedes it has fallen behind rivals in wireless and broadband service, replaced its chief executive officer of seven years, and appointed a new leader with experience in telecom and financial technology. Dan Schulman, 67, who became lead independent director in December, takes over immediately, Verizon said Monday, with a mandate to revive growth and improve the company’s fortunes. The former CEO of PayPal Holdings Inc., he replaces Hans Vestberg, 60, a former Ericsson AB executive who has led the company since 2018.

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