Nvidia Rallies on Deal For AI Startup, Mining Stocks Soar, Tesla Slides

On this episode of Stock Movers:

- Nvidia (NVDA) agreed to a licensing deal with artificial intelligence startup Groq, furthering its investments in companies connected to the AI boom and gaining the right to add a new type of technology to its products. The world’s largest publicly traded company has paid for the right to use Groq’s technology and will integrate its chip design into future products. The deal was reported on after the end of the trading day on Christmas Eve. Shares of Nvidia rallied when trading resumed on Friday.

- Shares of mining companies like Coeur (CDE) and Freeport (FCX) are higher in trading Friday as gold, silver and platinum jumped to all-time highs and copper surged to a record in Shanghai and rallied in New York. Spot gold rose as much as 1.2% to a peak above $4,530 an ounce on Friday. Spot silver for immediate delivery advanced for a fifth session, climbing as much as 5% to cross $75 an ounce.

- Tesla (TSLA)'s ’s door handles are facing renewed scrutiny in the US after federal auto safety regulators opened a probe into the emergency releases in certain Model 3 vehicles. The National Highway Traffic Safety Administration said it’s evaluating claims that the mechanical door release “is hidden, unlabeled, and not intuitive to locate during an emergency,” according to a filing on the agency’s website. The move stems from a petition filed by Kevin Clouse, a Tesla owner in Georgia who says he was trapped in his vehicle in 2023 and requested a defect investigation. NHTSA said it hasn’t decided whether to grant or deny the petition. Shares of the Elon Musk-run EV maker fell in trading on Friday.

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