Advanced Micro Devices’ shares ripped over 29% in Monday’s midday trade after the announcement of a multi-year deal with OpenAI for six gigawatts worth of AMD chips.
U.S. equities traded mixed in Monday’s midday trade, with the Advanced Micro Devices Inc. (AMD) rally following the announcement of the OpenAI deal, pushing the Nasdaq to a new all-time high. However, the Dow Jones Industrial Average edged lower.
The SPDR S&P 500 ETF (SPY), which mirrors the S&P 500 index, was up 0.38% at the time of writing, while the Invesco QQQ Trust (QQQ), which mirrors the Nasdaq, rose 0.85%. The SPDR Dow Jones Industrial Average ETF Trust (DIA), which tracks the Dow Jones Industrial Average, declined 0.23%.
Here are the top stocks making the biggest moves in Monday’s midday trade:
Advanced Micro Devices Inc. (AMD)
Advanced Micro Devices’ shares ripped over 29% in Monday’s midday trade after the announcement of a multi-year deal with OpenAI for six gigawatts worth of AMD chips. OpenAI will receive warrants for 160 million AMD shares at $0.01 per share. If OpenAI exercises these warrants, it will amount to a nearly 10% stake in AMD. The warrants will be awarded in phases, depending on OpenAI hitting certain deployment milestones.
AMD stock is up 76% year-to-date.
Critical Metals Corp. (CRML)
Critical Metals shares surged more than 75% in Monday’s midday trade following a report on Friday stating that the Trump administration is considering picking up a stake in the company. However, the administration denied any such plans, according to a Bloomberg report citing a White House official. Following the latest report, the shares pared some of their early gains.
CRML stock is up 106% year-to-date.
Verizon Communications Inc. (VZ)
Verizon shares were down nearly 5% in Monday’s midday session after the company announced a leadership change, appointing former PayPal Holdings Inc. (PYPL) CEO Dan Schulman as its new chief executive, effective immediately. Schulman will succeed Hans Vestberg.
VZ stock is up 4% year-to-date.
Comerica Inc. (CMA)
Comerica shares were up more than 14% in Monday’s midday trade after Fifth Third Bancorp (FITB) announced that it will acquire the former in a $10.9 billion all-stock deal. The deal would create the ninth-largest U.S. bank with about $288 billion in assets.
CMA stock is up 32% year-to-date.
Hive Digital Technologies Inc. (HIVE)
Hive Digital shares rose more than 22% in Monday’s midday session after the company announced that it had more than doubled its Bitcoin (BTC) production rate annually in September. Hive produced 267 BTC in September, representing a 138% increase compared to the same month in 2024.
HIVE stock is up 87% year-to-date.
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