USA Rare Earth (USAR) soared to an all-time high on Thursday as investors reacted to news of potential partnership talks with the US government. The stock hit $23.35 before closing at $22.71, up 23.36 percent. CEO Barbara Humpton confirmed close communication with the White House amid government investments in the sector.

In response to recent government investments in the rare earth sector, CEO Barbara Humpton emphasized the need for multiple players to build out the marketplace. USA Rare Earth is focused on developing a mine site in Texas and a magnet production facility in Oklahoma. The company’s potential as an investment is noted, but AI stocks are seen as holding greater promise.

USA Rare Earth, Inc. (NASDAQ:USAR) is actively engaged in developing a mine site in Sierra Blanca, Texas, and a magnet production facility in Stillwater, Oklahoma. The company’s recent performance and potential as an investment are highlighted amidst government investments in the rare earth sector.

Read more at Yahoo Finance: USA Rare Earth (USAR) Soars to All-Time High as Firm Confirms Talks with Trump Admin