On this episode of Stock Movers with Lisa Mateo:
– Shares of Roomba maker iRobot Corp. (IRBT) plummeted ahead of the US market open after the company that revolutionized robot vacuum cleaners in the early 2000s with its Roomba model, filed for bankruptcy and proposed handing over control to its main Chinese supplier. The Massachusetts-based consumer robot maker, which is currently listed, will be taken over by China’s Shenzhen PICEA Robotics Co. and a subsidiary of the Chinese firm, according to a press release. The common stock of the company, founded in 1990 by engineers from the Massachusetts Institute of Technology, will be wiped out under the proposed Chapter 11 plan filed in Delaware on Sunday.
– Nvidia (NVDA) is leading a premarket recovery across the magnificent seven cohort of big tech stocks, after the group suffered a two-day drop amid concern over elevated spending and delays for projects tied to AI. An equal-weight basket of Magnificent Seven tech stocks dropped 0.8% on Friday after Bloomberg reported that Oracle pushed back the completion dates for some of the data centers it’s developing for OpenAI to 2028 from 2027.
– Shares of Intel (INTC) pushed higher in the early trading session after reports on Friday that the company is in advanced talks to acquire artificial intelligence chip startup SambaNova Systems Inc. for about $1.6 billion including debt. Sources tell Bloomberg a deal for Palo Alto, California-based SambaNova could come together as soon as next month. Founded in 2017 by Stanford University professors, one of whom had won a MacArthur Genius Award, SambaNova designs custom AI chips, aiming to rival those offered by Nvidia Corp.
——–
More on Bloomberg Television and Markets
Like this video? Subscribe and turn on notifications so you don’t miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9
Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more.
Connect with Bloomberg Television on:
X: https://twitter.com/BloombergTV
Facebook: https://www.facebook.com/BloombergTelevision
Instagram: https://www.instagram.com/bloombergtv/
Connect with Bloomberg Business on:
X: https://twitter.com/business
Facebook: https://www.facebook.com/bloombergbusiness
Instagram: https://www.instagram.com/bloombergbusiness/
TikTok: https://www.tiktok.com/@bloombergbusiness?lang=en
Reddit: https://www.reddit.com/r/bloomberg/
LinkedIn: https://www.linkedin.com/company/bloomberg-news/
More from Bloomberg:
Bloomberg Radio: https://twitter.com/BloombergRadio
Bloomberg Surveillance: https://twitter.com/bsurveillance
Bloomberg Politics: https://twitter.com/bpolitics
Bloomberg Originals: https://twitter.com/bbgoriginals
Watch more on YouTube:
Bloomberg Technology: https://www.youtube.com/@BloombergTechnology
Bloomberg Originals: https://www.youtube.com/@business
Bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake
Bloomberg Espanol: https://www.youtube.com/@bloomberg_espanol
Bloomberg Podcasts: https://www.youtube.com/@BloombergPodcasts