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5 Top Stories

Novo Nordisk + Nvidia

Every day, we handpick the 5 Top Stories stock market investors need to know. In 5 minutes, you’ll learn the stocks, CEOs, and money managers moving markets.

Major Moves in AI

Novo Nordisk Fonden, the enterprise foundation behind Novo Nordisk [NVO], is to collaborate with Nvidia [NVDA] on a Danish supercomputer. Elsewhere, Samsung [005930:KS] has set up a research lab to design an entirely new artificial intelligence (AI) semiconductor. Lastly, after unveiling the new Blackwell processor at the GPU conference in California, in a keynote speech Nvidia CEO Jensen Huang said software makers Synopsys [SNPS] and Ansys [ANSS], among others, would be using it, sending up both companies’ share prices.

Nvidia’s New Quantum Cloud

San Francisco-based cloud software provider HashiCorp [HCP] climbed as much as 12% on Monday, on news that the firm is weighing a sale. This pushed its market value to some $5.7bn. Meanwhile, Nvidia has launched a cloud service where researchers will be able to test quantum-computing software. Initially the Nvidia Quantum Cloud will be an AI data centre that simulates a quantum computer.

AI in EVs Accelerates

Expanding its footprint in yet another sector, Nvidia also announced on Monday that Chinese automaker BYD [BYDDY] will use its next generation of in-vehicle chips, called Drive Thor, to boost autonomous driving and other digital capacities. BYD will also work with Nvidia products to streamline its supply chain. Alongside BYD, other Chinese automakers including Xpeng [9868.HK] said they would be working with Drive Thor. Elsewhere, the US Energy Department was set to reveal final rules on electric vehicle mileage on Tuesday.

Meta Offers to Halve Fee in EU

Following widespread criticism over privacy, Meta [META] has offered to nearly halve the monthly fee for its no-ads subscription service for Facebook and Instagram, from €9.99 to €5.99. “That is by far the lowest end of the range that any reasonable person should be paying for services of this quality,” Meta lawyer Tim Lamb told a European Commission hearing. Meta initially launched the service to comply with the EU’s Digital Markets Act.

Astra Bets on Next-Gen Cancer Treatment

Pharma giant AstraZeneca [AZN] is to buy Canadian drug developer Fusion Pharmaceuticals [FUSN] for $2bn in cash. This will give the Anglo-Swedish firm a foothold in the radiopharmaceutical drugs market. Fusion’s most advanced therapy, FPI-2265, is in a mid-stage trial to treat patients with metastatic castration-resistant prostate cancer; its share price doubled to $21.46 in US premarket trading on the news, reported Reuters.

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