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Claire Yubin Oh2h

IBM rises after announcing partnership with Anthropic that will integrate Claude into IBM’s software portfolio

IBM jumped as much as 7.5% in early trading on Tuesday after announcing that the company is partnering with Anthropic to integrate its AI model Claude into IBM’s software offerings. No financial details were released.

Per IBM’s press release: “Through the partnership, Claude will be integrated into select IBM software products, starting with IBM’s new AI-first integrated development environment (IDE), designed with advanced task generation capabilities for enterprise software development lifecycles (SDLC), including software modernization.”

As part of the partnership, IBM has also created a guide that helps businesses build and use AI agents, including “best practices guides, reference architectures, and open-source tooling developed from IBM’s experience deploying AI across thousands of client environments.”

By making Anthropic’s models readily accessible to its customers, IBM is doubling down on its AI offering — though it’s unclear how this new partnership with Anthropic will impact its own AI models, like Granite.

For Anthropic, this partnership builds on its momentum in the enterprise arena — yesterday the company announced a deal with Deloitte to roll out Claude to more than 470,000 employees across 150 countries.

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Matt Phillips54m

IREN jumps after announcing multiyear cloud services contracts with “leading AI companies”

IREN shares soared in early trading for a second day after the bitcoin miner and AI compute provider issued a press release announcing new multiyear deals with “leading AI clients” to put its Nvidia GPUs to work on their behalf. The release did not provide any additional details on the nature of these customers.

The company said it “remains on track to achieve >$500m in annualized run-rate revenue (ARR) from the 23k GPUs currently operating and on order by the end of Q1 2026.”

Shares in the company have also benefited from a strong run-up in crypto prices recently and an upsurge in chatter about the company on the influential subreddit r/WallStreetBets. Call volumes — a favorite vehicle for risk-hungry retail traders — have surged in recent weeks.

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Rigetti Computing gains as Benchmark raises price target to a new Wall Street high of $50

Rigetti Computing is advancing in premarket trading as Benchmark analyst David Williams more than doubled his price target on shares of the quantum computing company to $50 from $20.

He pointed to the company’s recent announcement of two systems sales and a contract with the Air Force Research Laboratory as proof points on Rigetti’s execution that justify his bullish call.

Williams writes that the “combination of government grants and public hardware sales signal increasing confidence in its technical roadmap and strategic positioning within the broader quantum computing ecosystem,” adding that “recent hardware sales are a significant validation of public adoption momentum beyond academia and government funded research and development initiatives.”

Among the seven analysts who cover the stock tracked by Bloomberg, Williams is the only one who has a price target higher than where the stock is currently trading — despite all seven having a “buy” rating!

Per Williams:

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AMC rises after announcing that its Taylor Swift viewing parties were “a record-setting, box office smash hit”

AMC is up in premarket trading after the theater company said that its “cinematic experience” for the release of Taylor Swift’s “The Life of a Showgirl” grossed more than $50 million, with $34 million of that in the US.

The company’s press release from after the close on Monday highlighted three records the release party broke in its three-day run:

“TAYLOR SWIFT | THE OFFICIAL RELEASE PARTY OF A SHOWGIRL is the biggest grossing album-debut theatrical event of all time at the domestic and global box office.”
“It is the only album-debut cinematic experience in history to finish No. 1 at the domestic box office.”
“It is the only ‘non-film’ theatrical event this century to finish a weekend No. 1 at the domestic box office.”

Shares of the company had jolted higher when this collaboration was initially unveiled on September 19.

“On behalf of AMC Theatres and the entire theatrical exhibition industry, I extend our sincerest appreciation to the iconic Taylor Swift for bringing her brilliance and magic to movie theatres this weekend,” AMC Chairman and CEO Adam Aron said. “Her vision to add a cinematic element to her incredible album debut was nothing less than a triumph.”

(I’m a card-carrying Swiftie, but I have to say this album was very meh, almost like she’d promised Travis Kelce his own version of “Lover” because Joe Alwyn got one.)

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Trilogy Metals soars on US government’s 10% stake announcement

Shares in Trilogy Metals, a Canadian minerals exploration company, have soared as much as 200% in early trading today after the US government announced it has taken a 10% stake in the company worth $35.6 million, along with warrants to build that investment by another 7.5% down the line.

The Trump administration’s position in the company, which had five full-time employees as of November last year, reflects growing government interest in reducing America’s dependence on China for critical mineral supplies, given Trilogy Metals’ mining claims in Alaska.

In a section of the announcement subtitled “UNLOCKING ACCESS TO AMERICA’S CRITICAL MINERALS,” the White House detailed how the investment and decision to green-light the Ambler Road Project, which will open up road access to the Ambler Mining District, overturns the Biden government’s move to block the same project last year. The area reportedly has “one of the largest undeveloped copper-zinc mineral belts in the world and contains extensive deposits of copper, silver, gold, lead, cobalt, and other strategic metals.”

Similar Washington deals with mining companies like MP Materials and Lithium Americas sent those companies’ shares soaring, too. Critical Metals, meanwhile, which jumped yesterday on reports around talks of a government stake in the business, has slumped 5% in premarket trading today.

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Claire Yubin Oh3h

Amkor rises after breaking ground on its new semiconductor packaging campus in Arizona, while increasing investment in the project to $7 billion

Amkor Technology Inc soared in after-hours trading on Monday after announcing that it was breaking ground on its semiconductor advanced packaging and test plant in Arizona, whilst also increasing the investment in the facility to a total of $7 billion in collaboration with the US government.

The expanded investment will add an “additional cleanroom space and a second greenfield packaging and test facility,” creating a campus with “over 750,000 square feet of cleanroom space and as many as 3,000 high-quality jobs,” per the company’s press release. The plant will focus on “advanced packaging and testing technologies and will complement TSMC’s front-end wafer fabrication for full end-to-end semiconductor manufacturing.”

Located close to TSMC’s factories in Arizona, the proximity should reduce the need to send US-produced chips back to Asia for the final stages of production.

Amkor’s mega-plant was already set to be one of the most ambitious US-sited semiconductor packaging operations before the expansion, but the latest announcement raises the total project investment by more than $5 billion, backed by the Trump Administration’s CHIPS for America Program.

According to the company, the “construction of the first manufacturing facility on the campus is expected to be completed in mid-2027, with production beginning in early 2028.”

Amkor’s mega-plant has already locked in Apple and Nvidia as customers, with Apple’s chief operating officer, Sabih Khan, saying:

Factories across the United States are producing 19 billion chips for Apple this year alone, and Amkor’s new facility will package and test the Apple silicon produced at TSMC Arizona just down the road. We’re proud to invest in Amkor through Apple’s American Manufacturing Program, which is a key part of our $600 billion commitment to create jobs and accelerate innovation right here in the U.S.

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