The U.S. rare earth sector has surged.

On the evening of July 10th local time, the rare earth sector of the US stock market surged, with MP Materials' stock price rising over 60% at one point and closing up by 50.75%. It was reported that rare earth magnet producer MP Materials received a $400 million equity investment from the US Department of Defense to build a new factory, and also secured $1 billion in financing commitments from JPMorgan Chase and Goldman Sachs. As a result of this news, the company's stock price soared significantly.