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MP Materials rose as much as 60%, the most intraday since the company’s IPO in 2020, after the firm struck a multibillion dollar public-private deal with the US Department of Defense to build a new magnet plant and expand rare earth capabilities, backed by $400 million in equity and a $1 billion loan commitment.
Bloomberg Intelligence sees the company's public-private partnership with the Pentagon not only providing capital but also setting a price floor of $110 per kilogram for MP's NdPr products for the next 10 years, significantly higher than the current market price of $63. It's effective 4Q25. The pact includes an offtake agreement for 7,000 metric tons of additional magnets produced following MP's 10X expansion, from 1,000 currently, reducing market-demand risk. This partnership accelerates MP's build-out of a fully integrated value chain, from mines to permanent magnets.

Today's show features:

• James Litinsky, Founder, Chairman and Chief Executive Officer of MP Materials Corp. and Bloomberg News Economic Statecraft Reporter Joe Deaux on MP’s supply chain deal with the US Defense Department
• Sheila Kahyaoglu, Managing Director in Equity Research at Jefferies, on Delta’s quarterly results and the outlook for major US airlines heading into earnings season
• Bloomberg News Senior Technology Reporter Kurt Wagner on Elon Musk’s Grok chatbot and Linda Yaccarino’s departure from X
• Veronica Willis, Global Investment Strategist with the Wells Fargo Investment Institute on the market and economic outlook for the rest of 2025 into 2026.

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