Trending tickers: AppLovin, AMD, B&M, Shell

Advanced Micro Devices (AMD)

Shares in Advanced Micro Devices (AMD) rallied 23.7% on Monday, pushing higher after news emerged that the chipmaker has struck a multibillion-dollar deal with OpenAI.

The move will see AMD (AMD) supply up to 6 gigawatts of graphics processing units (GPUs) to the ChatGPT maker over several years, starting with its upcoming MI450 chips in the second half of 2026.

Under the agreement, AMD (AMD) also issued OpenAI warrants for up to 160 million shares, or roughly 10% of the company. Shares will vest in stages as AMD hits milestones, beginning once the company deploys its first 1 gigawatt of chips.

AMD CEO Lisa Su said the deal could generate "tens of billions of dollars" in revenue for AMD over the next few years. Additionally, the agreement culminates years-long discussions with OpenAI.

The news comes on the heels of Nvidia's (NVDA) own $100bn (£74bn) bet on OpenAI, underscoring the escalating race to build out AI infrastructure. Nvidia has also announced a $5bn investment in Intel (INTC) to co-develop data centres and PC products.

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203.71

+39.04

+(23.71%)

At close: October 6 at 4:00:01 PM EDT Advanced Chart

AppLovin (APP)

Online advertising tech platform AppLovin (APP) saw a sharp selloff in US trading hours on Tuesday, dipping 14%, and looked set to lose a further 2% when markets open later on, amid reports it is being probed by the US's Securities and Exchange Commission for its data collection practices.

Bloomberg reported, citing people familiar with the matter, that the US Securities and Exchange Commission (SEC) is looking into potential violations of platform partners' service agreements in order to better target consumers.

Read more: FTSE 100 LIVE: Stocks mixed as Donald Trump announces new 25% large truck tariff

Bloomberg sources said enforcement officials assigned to cyber and emerging technologies have been handling the matter and that the investigation is in part responding to a whistleblower complaint.

AppLovin declined requests for comment on the matter, while the SEC cited the government shutdown as a reason for not responding to the report.

Even with the selloff in its shareprice, AppLovin (APP) is still up more than 81% for the year-to-date.

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587.00

-95.76

(-14.03%)

At close: October 6 at 4:00:01 PM EDT Advanced Chart

B&M (BME.L)

Shares for budget retailer B&M (BME.L) dropped as much as 22% on Tuesday after the company issued a profit warning amid sliding sales and soaring costs.

UK like-for-like sales fell by a worse-than-expected 1.1% in its second quarter, with the group now forecasting half-year underlying earnings will dip 28% to around £198m

Its wage bill jumped by about £30m in its first half to September 27, on top of a £14m packaging tax hit under the new extended producer responsibility rules.

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Recently appointed chief exec Tjeerd Jegen said: “Since becoming CEO in June, I have led the business through a comprehensive review of our customer proposition and operations.

“We have concluded that while B&M’s value proposition remains strong, our operational execution has been weak.

“This has impacted our first-half trading performance, and this is reflected in the full-year outlook.”

The group said it was taking “decisive actions” to boost its flagging performance but cautioned these will take up to a year and a half to bear fruit.

Shell (SHEL.L)

Oil major Shell (SHEL.L) was among the top gainers in the FTSE 100 (^FTSE) on Tuesday after it said it expects trading in its gas division to be "significantly higher" in the third quarter than in the previous three months.

In a trading update on Tuesday, the company offered production guidance for its integrated natural gas division of 910,000 to 950,000 barrels of equivalent per day (boe/d) for the third quarter. That compared to a previously guided range of 910,000 to 970,000.

However, the Anglo-Dutch oil major said it expected trading and optimisation for this division to be "significantly higher" than in the second quarter.

Read more: Shell expects 'significantly higher' gas trading in the third quarter

Shell (SHEL.L) raised the production outlook for liquified natural gas (LNG) to a range of 7 million to 7.4 million metric tonnes, compared to previous guidance of 6.7 to 7.3 million metric tonnes.

It also said it expected to report a refining margin of $11.60 per barrel in the third quarter, which would be higher than the $8.90 recorded for the previous three months.

Its share price was almost 2% higher by mid-morning. The stock price has gained more than 12.6% for the year-to-date.

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2,772.00

+35.00

+(1.28%)

As of 10:07:23 AM GMT+1. Market Open. Advanced Chart

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