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WSJ Tech News Briefing
TNB Tech Minute: Rare-Earth Magnet Startups Secure Deals With White House
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Digital transformation is revolutionizing how patients interact with the healthcare system. Join NYU Langone Health at the break to hear from Dr. Paul A. Testa, the organization's chief health informatics officer, about how innovation is improving the patient experience. Here's your afternoon TNB Tech minute for Monday, November 3rd. I'm Julie Chang for the Wall Street Journal. Two rare earth magnet startups, Vulcan Elements and Re Element Technologies, have secured a $1.4 billion deal with the Trump administration, administration and private investors to establish a domestic supply chain. The deal aims to reduce US Reliance on China for rare earth magnets, which are essential for the construction of motors needed in defense systems, electric vehicles and AI data centers. In return for the funding, Vulcan said, the Commerce department will receive $50 million of its equity and the Defense Department will receive warrants in both Vulcan and Re Element, which offer it the ability to buy stock at a preset price. Microsoft has secured new computing power capacity. It signed a five year, $9.7 billion deal with the data center company AIN. Under the agreement, Microsoft will gain access to Iron's Nvidia GB300 chips. The move comes as big tech races to expand data center capacity across the US to support the new demand, Ain made a separate deal with Dell Technologies to purchase new graphics processing units and related equipment for 5.8 billion DOL. And in earnings, Palantir Technologies has reported another quarter of record revenue. The data analytics company said it had $1.18 billion in sales for the third quarter, a year over year gain of 63% and a net profit of $475.6 million. Both came in ahead of Wall street expectations. Palantir recently signed contracts with the Internal Revenue Service and the State Department. Plus the company announced a partnership with NVID that would help Palantir software run faster. Finally, shares of Amazon closed at an all time high after the cloud company reached a $38 billion multi year deal with OpenAI. For more computing power. Shares closed up at over 4%. And that's it for your TNB Tech minutes. Tune in tomorrow morning for another quick tech update for patients. The benefits of healthcare innovation can be felt in even the basic task of making a doctor's appointment. Here again is NYU Langone's Paul Testa. What we are seeing now is these tools are helping patients understand what their first, next best step is in their care journey. If we can make sure we have a right match with the right surgeon for the right problem and the right patient in the right location, all that coordination is a digital matrix that we are doing now. To learn more about healthcare innovation at NYU Langone Health, please visit nyulangone. Org. Custom Content from WSJ is a unit of the Wall Street Journal Advertising Department. The Wall Street Journal News Organization was not involved in the creation of.