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WSJ Tech News Briefing

TNB Tech Minute: Rare-Earth Magnet Startups Secure Deals With White House

WSJ Tech News Briefing

The Wall Street Journal

Tech News, News

4.31.7K Ratings

🗓️ 3 November 2025

⏱️ 3 minutes

🧾️ Download transcript

Summary

Plus: Microsoft secures new computing power capacity in deal with data center company IREN. And Palantir Technologies reports another quarter of record revenue, while shares of Amazon close at a new all-time high. Julie Chang hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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0:07.1

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0:12.9

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0:17.8

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0:21.5

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0:26.4

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0:32.2

Here's your afternoon, T&B Tech Minute, for Monday, November 3rd. I'm Julie Chang for the

0:37.3

Wall Street Journal.

0:39.0

Two rare earth magnet startups, Vulcan elements, and re-element technologies have secured a $1.4 billion

0:45.9

deal with the Trump administration and private investors to establish a domestic supply chain.

0:51.9

The deal aims to reduce U.S. reliance on China for rare earth magnets,

0:56.4

which are essential for the construction of motors needed in defense systems, electric vehicles,

1:01.0

and AI data centers. In return for the funding, Vulcan said the Commerce Department

1:05.8

will receive $50 million of its equity, and the Defense Department will receive warrants in both Vulcan and

1:12.1

Re-Element, which offered the ability to buy stock at a preset price.

1:17.1

Microsoft has secured new computing power capacity. It's signed a five-year $9.7 billion

1:23.5

deal with the data center company, Iron. Under the agreement, Microsoft will gain access to

1:29.3

Irons' Nvidia GB-300 chips. The move comes as big tech races to expand data center capacity across the

1:36.8

U.S. To support the new demand, Iron made a separate deal with Dell Technologies to purchase new

1:43.0

graphics processing units and related equipment

1:45.5

for $5.8 billion. And in earnings, Palantir Technologies has reported another quarter of record

1:54.0

revenue. The data analytics company said it had $1.18 billion in sales for the third quarter,

...

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