Alphabet Gains, Hut 8 Rises, AMC Jumps After 2Q Adj. Ebitda Beats Estimates

The decisions you make don't sit still. They move through your business, across your teams, into everything that comes next. That's why the thinking behind them matters. Not just how big it is, but how close it gets. That's Baker Tilly. Close enough to understand what's really driving your business. Close enough to turn insight into action. Across advisory, tax, and assurance, Baker Tilly brings enterprise-level thinking built around your business. Baker Tilly. Big thinking within reach. Bloomberg Audio Studios, podcasts, radio, news. The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg data. Let's take a look at some of the stocks on the move today. And we're joined by Bloomberg's Matthew Griffin. Matthew, what are you looking at today? Well, Paul, I've been watching Alphabet bit closely after that report from the information that's lifting the stock. It's really interesting, this reported name, Frozen V2, informal name, what that means. It a reference to an idea that Google is considering which is to bake the way their Gemini model works into the physical design of the chip The goal there to help Gemini run more efficiently and ultimately in the bigger picture help the technology giant deal with a shortfall in AI computing. This chip would be separate from Google's existing AI chips, which are called TPUs. Those are already out there on the market. And The report says the company plans to deploy this new frozen chip as soon as 2028. That, again, all from the information citing two people familiar with the matter and the stock, ticker G-O-O-G-L, up nearly 3% this morning. OK, and of course, Alphabet will be reporting earnings later on this week as well. What's next on your list? Another AI-linked name, Hut8, they're sort of a data center computing company, up nearly 10% after the company announced a $9.8 billion deal for computing power at a Texas data center campus. That's a 15-year lease for 352 megawatts of IT capacity with the same tenant that already had a lease at the site. This company has pivoted from Bitcoin mining into data center computing. It's a familiar story. This rally the latest sign investors are rewarding this kind of pivot You actually even just look at this company They have a majority subsidiary American Bitcoin that still does crypto mining Those shares down about 80% this year. HUT8, that's ticker H-U-T, has more than doubled. AMC, what do you got for us? AMC, I've got another gainer for you. Up about 16% now, that's ticker AMC. After the movie theater chain reported second quarter profit that beat expectations, Their adjusted earnings, about $321 million, excluding taxes and other items. Analysts were looking for about $203 million in adjusted EBITDA. Our colleagues at BI point out attendance was strong in the quarter. Free cash flow turned positive in the first half of the year. That's driving a lot of the trading. Also worth noting, though, Christopher Nolan's Odyssey had a strong debut over the weekend. I saw it. $125 million. Was it good? It was good. Three hours, but it was good. I'm excited. Well, a lot of people did see it, nearly $125 million at the domestic box office. BI says that's helping theaters end a period of soft attendance. companies making news on Wall Street. And for the latest market-moving headlines, listen to Bloomberg Radio Live. Catch us on YouTube, Bloomberg.com, and on Apple CarPlay and Android Auto with the Bloomberg Business App. The decisions you make don't sit still. They move through your business, across your teams, into everything that comes next. That's why the thinking behind them matters. Not just how big it is, but how close it gets. That's Baker Tilly. Close enough to understand what's really driving your business. Close enough to turn insight into action. Across advisory, tax, and assurance, Baker Tilly brings enterprise-level thinking built around your business. Baker Tilly, big thinking within reach. A new chapter in global growth is being written, and much of it is happening in Africa. Africans need to invest. There are deals to be done and business to be one. I'm Jennifer Zabasaja. Every week on the Next Africa podcast, we track capital flows and political shifts shaping the continent's future. The digitalization of Africa is going to power its growth. Riding the world of something like HIV is possible. Population growth is so enormous in Africa. Listen to Next Africa on Apple, Spotify, or wherever you get your podcasts.