Matt Miller

especially relative to more familiar companies like Dell or HPE.

All right, Ryan, great to get your coverage.

Ryan Vlastelica covers tech companies for us out of the middle of America.

Coming up, CoreWeave shares are rising this morning as the NeoCloud company raises an $8.5 billion loan to help fuel its complete build-out.

We'll have details on the NeoCloud operator next.

This is Bloomberg Tech.

Let's take a look at Snap.

Why don't we?

Shares are jumping on the news that activist investor Irenic Capital Management has built a position in the company.

Sources saying Irenic is pushing for changes to improve financial and operating performance.

Bloomberg's Leanna Baker joins us now.

She runs the deals team for us here at Bloomberg.

So what do we know about this investor and what it wants out of Snap?

Sure.

So we've seen a Renick before.

They're an up and coming activist.

They've gone after companies like News Corp before, owned by the Murdoch.

So they're no stranger to companies that are controlled.

But here, they're looking at sort of shaking up things at snap.

The stock is down 50% year over year.