22:17
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 stocks on the move today. It's a select group of stocks where John Tucker will try to do it as wonderfully as Alexis Kristoff always does. Oh, I've got your back, John. What do you have? Uh, deal news today. Electrical equipment banker Schneider Electric making a big bet on artificial intelligence. Shocked. I'm shocked. Uh they're buying industrial software firm
PTC for 22.6 billion. It's going to add engineering software for industries including auto, aerospace, medical technology. Schneider says its products such as electrical panels and circuit breakers are in 40% of American homes. I got to check that when I get home. The French conglomerate uh makes a suite of electrical products. They're going to acquire PTC which is based in Boston all cash deal and this just adds the buying spree among industrial companies expanding in areas booming due to AI and related data center infrastructure. Uh you'll recall back in July Schneider had another deal. They bought Cognite for $3.1 billion to try to expand its industrial data and AI software operations.
What we call Schneider CEO Olivier Bloom said PTC is going to create the industry's most complete software and AI. But does Wall Street think they're paying too much because the stock is down like 10%. Well, uh, look at PTC stock. Woohoo. That's up what? It was over 20%. That's what I Is this going to close by the third quarter of 2027? There won't be any synergies. Next, uh Qualcomm agreeing to license patents that underpin Huawei's logic folding. That's their chipm technique. Uh this is a win for the Chinese company in the push to advance in overseas AI markets.
Multi-year deal, part of a cross license agreement between the two chip makers spanning technologies related to 5G devices. and yes, AI services. This agreement with Qualcomm helps validate Huawei's chipmaking capabilities. Uh Huawei unveiled a logic folding approach just a few months ago. One of a handful of companies seen as key to China's ambitions to lead in AI and reduce reliance on foreign technology including the Nvidia accelerator. Robert Schiffman published an hour ago with Bloomberg Intelligence. And what's great about it is he goes out to 2028 and even Oh, nice.
2029. And like we heard from Jack Millie, everybody like Qualcomm or whatever. Mhm. The pros have like a three and fouryear vision of this where the rest of us are trying to get to the next iPhone upgrade. John, are you going to iPhone upgrade? Uh, one of these days maybe, but you know, the Michael Dunglas phone has served me well. I am loyal to it. One more. Taiwan semiconductor on the move. Elon Musk confirming talks with a chipmaker on a possible collaboration on this uh massive what do you call it the Terrafab factory project. Uh the news could be a potential competition for Intel uh which in April became the first to offer support for Musk's tech. So he's not going with a US company here. He's going to Taiwan
Semiconductor. Interesting move. We'll see. This is a possibility. Uh Intel shar uses it as leverage. I don't know. I didn't know there's 223% gain for Intel since the beginning of this year. Oh, it's been on fire. I don't own any of them. TSMC 55% gain. The Stock Movers Report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of 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.
