Thursday, October 22, 2026 · 1:14 AM ET
Markets · WSJ
Elon Musk said Tesla and SpaceX are exploring a possible merger, and that both boards have formed special committees to work out terms that aren't yet set. SpaceX stock surged more than 10% and Tesla rose about 4% on the talk, though analysts flagged steep shareholder and regulatory hurdles to combining the roughly $3.6 trillion pair.
AI Infrastructure · WSJ
Australia's NextDC said it could sell some data-center developments amid a darkened earnings outlook after a power distributor suspended work at a Melbourne site over safety concerns, triggering a roughly 42% share-price drop. The move added to jitters over the AI-infrastructure trade ahead of Anthropic's planned IPO.
Markets · Bloomberg
eBay will eliminate about 9% of its workforce — roughly 1,000 jobs — in its second round of cuts this year as it streamlines operations, a person familiar with the matter said. Reuters first reported the reductions, citing an internal memo from the CEO.
Funding · Bloomberg
Whop, a Palo Alto startup that helps people launch and run online businesses, raised $205 million at a $5.1 billion valuation in a round led by Sequoia's Doug Leone — his first deal since returning to active investing — with Shopify also participating.
AI · The Information
OpenAI is extending its ChatGPT advertising platform to 26 more countries — now live in 83 markets, up from 63 in September — as it leans on ads to help cover soaring AI costs. The company said more than 100,000 advertisers now use the platform, up from about 20,000 in late August.
AI · The Information
OpenAI will make its models available through Google Cloud, the companies announced, lessening OpenAI's reliance on Microsoft after the two once shared exclusivity. The move also underscores OpenAI's push to win enterprise customers and diversify its business.
Earnings · WSJ
Meta reported record third-quarter revenue of $64.6 billion and said it will create a new class of nonvoting stock — effective January 2027 — to raise the capital it needs for its massive AI investments, without affecting CEO Mark Zuckerberg's voting control.
Earnings · Bloomberg
IBM reported third-quarter sales up about 5% to $17.1 billion, topping analysts' estimates, and said it had recovered most of the infrastructure deals delayed earlier in the year. Its infrastructure unit, which includes mainframe servers, grew 4% to $3.7 billion.
Earnings · Bloomberg
Texas Instruments, the largest maker of analog and embedded-processing chips, guided to current-quarter revenue of $5.8 billion to $6.3 billion, above the $5.73 billion analysts expected, lifted by stronger demand from automotive and industrial customers.
Earnings · Bloomberg
SAP said third-quarter cloud revenue rose 25% in constant currencies to €6.67 billion ($7.49 billion), beating the €6.57 billion analysts forecast — a sign the AI boom hasn't undermined demand for the German software giant's products.
Markets · Bloomberg
Silicon Data, founded by Carmen Li, is teaming with CME Group to launch derivatives and tradable index products tied to AI 'compute' prices, giving investors a new way to hedge or bet on the cost of the computing power underpinning the AI boom.
Funding · Bloomberg
Flapping Airplanes, a year-old AI research lab, raised $1 billion at a $6 billion valuation in a round led by Index Ventures and Lux Capital, with Sequoia, Alphabet's GV and Kleiner Perkins participating. The startup is working on training AI models with less data and compute and on making chips more efficient.
Earnings · WSJ
Tesla reported roughly flat third-quarter sales of $28.05 billion and net income of $787 million, down from $1.37 billion a year earlier, as executives said limited battery availability is holding back production. Shares fell about 2% after hours, and CEO Elon Musk declined to add to his earlier comments on possible Tesla-SpaceX merger talks, calling the topic 'tap dancing through a minefield.'
Markets · WSJ
Semiconductor shares climbed, led by Nvidia, after CEO Jensen Huang made bullish comments on AI demand during a keynote in Berlin. The gains helped push the Nasdaq up about 1% to lead the major indexes higher, with the AI trade getting a further boost from strong SpaceX results.
IPO · Bloomberg
Chinese humanoid-robot maker Noetix Robotics (formally Songyan Power Beijing Technology) has filed confidentially for a Hong Kong IPO that could raise several hundred million dollars, people familiar with the matter said, with a listing possible as soon as next year.
Markets · Bloomberg
Shares of Chinese AI model developer MiniMax Group fell as much as 7.3% in Hong Kong to HK$159.30, wiping out all gains since its January trading debut (priced at HK$165), as intensifying competition prompts investors to reassess the company.
Markets · Bloomberg
Super Micro Computer rose about 9.5%, among the day's most-active movers, as strong SpaceX results — including from its AI business — boosted sentiment across AI-infrastructure and chip-related stocks.
AI · Bloomberg
Chinese AI developer DeepSeek raised about 100 billion yuan ($15 billion) in one of the country's largest-ever fundraising rounds, boosting its target from 50 billion to 80 billion yuan before reaching the final tally. Battery giant CATL and WeChat operator Tencent were among the biggest investors as the Hangzhou startup pushes to compete globally with the likes of Anthropic and OpenAI.
Markets · Bloomberg
Alibaba shares fell as much as 6.1% - the steepest decline since Aug. 24 - after Chinese authorities summoned e-commerce operators and called for tighter product-quality standards and stronger consumer protection. The stock was the biggest drag on Hong Kong's Hang Seng Index, which slid as much as 3%, while the Hang Seng Tech Index slumped as much as 4.7%, its biggest intraday drop since July.
AI Infrastructure · Bloomberg
Intel said its long-delayed US factory expansion is advancing, with tool installation underway at its Fab 62 plant near Phoenix and the first major roof truss installed at its new site in New Albany, Ohio. The chipmaker framed the progress as a sign of growing demand for its manufacturing capacity.
AI Infrastructure · Bloomberg
Kinder Morgan formally committed to building a $4.2 billion pipeline - dubbed Permian Link - to haul natural gas across West Texas and the Panhandle to help power a data-center complex. The 434-mile line will be able to ship 2.8 billion cubic feet of gas a day, underscoring the surging energy demands of the AI build-out.