Critical Metals Corp. shares rise 2.56% premarket after Trump administration considers reallocating $2 billion from CHIPS Act to fund critical minerals projects.

Critical Metals Corp. rose 2.56% in premarket trading, with the Trump administration considering a plan to reallocate at least $2 billion from the CHIPS Act to fund critical minerals projects. This move aims to boost Commerce Secretary Howard Lutnick's influence over the strategic sector and reduce U.S. dependence on China for critical minerals used widely in the electronics and defense industries. Additionally, the U.S. Defense Department is seeking to procure cobalt worth up to $500 million for defense stockpiles, further highlighting the growing importance of critical minerals.