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MP Materials Corp., a rare earth materials company, is seeing its stock price rise on news of a major commitment from tech giant Apple.

However, it’s not just the government rushing to ensure rare earth supply. Apple (NASDAQ: AAPL) has one-upped the Pentagon by announcing a $500 million agreement with MP Materials to secure recycled rare earth magnets.

In a decisive action to bolster the U.S. supply chain for rare earth magnets—essential elements for fighter jets, missiles, and electric vehicles—the

MP Materials, operating the only U.S. rare earths mine, has secured a $500 million deal with Apple to produce magnets for iPhones and other tech products. This follows the U.S. Defense Department's $400 million investment in MP,

Trade Desk (TTD) stock is surging on news that the company will join the S&P 500 (^GSPC), replacing Ansys (ANSS). Robinhood (HOOD) and Applovin (APP) are trading slightly lower after not making the cut to join the index once again.

Find insight on MP Materials, Paladin Energy, Lotus Resources and more in the latest Market Talks covering basic materials.