# Daily Fintech News — October 21, 2026 > Daily brief on markets, macro, banking, chips and AI infrastructure. Published October 21, 2026 at 7:00 PM ET by Daily Fintech News. Canonical HTML: https://dailyfintechnews.com/brief/fintech/2026-10-21 **Entities covered:** Elon Musk, Tesla, Inc., SpaceX, Data center, OpenAI, ChatGPT, Google, Microsoft, Meta Platforms, Texas, Nvidia, Jensen Huang, Germany, Initial public offering, China, Intel --- ## 1. Musk Says Tesla and SpaceX Are Exploring a Mega-Merger; Shares Jump *Section: Markets · Source: WSJ · Tickers: $SPCX, $TSLA* 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. - $TSLA close: $386.47 (+3.41%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-21#item-1 ## 2. NextDC Profit Warning Sends Shares Down 42%, Denting the AI Data-Center Trade *Section: AI Infrastructure · Source: 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. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-21#item-2 ## 3. eBay to Cut 9% of Staff in Second Round of Layoffs This Year *Section: Markets · Source: Bloomberg · Tickers: $EBAY* 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. - $EBAY close: $122.90 (+1.41%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-21#item-3 ## 4. Whop Raises $205 Million at $5.1 Billion Valuation in Sequoia-Led Round *Section: Funding · Source: 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. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-21#item-4 ## 5. OpenAI Expands ChatGPT Ads to 26 More Countries, Tops 100,000 Advertisers *Section: AI · Source: 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. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-21#item-5 ## 6. OpenAI to Bring Its Models to Google Cloud, Easing Microsoft Reliance *Section: AI · Source: 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. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-21#item-6 ## 7. Meta Posts Record Q3 Revenue, Will Create New Stock Class to Fund AI Spending *Section: Earnings · Source: WSJ · Tickers: $META* 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. - $META close: $697.52 (+0.47%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-21#item-7 ## 8. IBM Posts 5% Sales Growth as Delayed Infrastructure Deals Return *Section: Earnings · Source: Bloomberg · Tickers: $IBM* 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. - $IBM close: $251.46 (+3.94%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-21#item-8 ## 9. Texas Instruments Gives Revenue Forecast That Tops Estimates *Section: Earnings · Source: Bloomberg · Tickers: $TXN* 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. - $TXN close: $284.65 (+2.47%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-21#item-9 ## 10. SAP Cloud Revenue Beats Forecast, Signaling Resilient Software Demand *Section: Earnings · Source: Bloomberg · Tickers: $SAP* 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. - $SAP close: $232.73 (+1.64%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-21#item-10 ## 11. Silicon Data to Launch AI 'Compute' Derivatives With CME Group *Section: Markets · Source: 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. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-21#item-11 ## 12. AI Research Startup Flapping Airplanes Raises $1B at $6B Valuation *Section: Funding · Source: 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. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-21#item-12 ## 13. Tesla Q3 Profit Falls to $787M as Battery Shortages Cap Growth; Shares Slip After Hours *Section: Earnings · Source: WSJ · Tickers: $TSLA* 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.' - $TSLA close: $386.47 (+3.41%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-21#item-13 ## 14. Chip Stocks Rally, Nvidia Gains on Jensen Huang's Bullish Berlin Keynote *Section: Markets · Source: WSJ · Tickers: $NVDA* 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. - $NVDA close: $221.97 (+2.54%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-21#item-14 ## 15. CATL-Backed Noetix Robotics Files Confidentially for Hong Kong IPO *Section: IPO · Source: 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. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-21#item-15 ## 16. MiniMax Erases Post-IPO Gains as AI Model Rivalry Intensifies *Section: Markets · Source: 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. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-21#item-16 ## 17. Super Micro Jumps ~9.5% as SpaceX Results Lift AI-Infrastructure Sentiment *Section: Markets · Source: Bloomberg · Tickers: $SMCI* 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. - $SMCI close: $35.57 (+9.55%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-21#item-17 ## 18. China's DeepSeek Raises $15 Billion to Challenge Top US AI Labs *Section: AI · Source: 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. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-21#item-18 ## 19. Alibaba Shares Post Steepest Drop in Two Months on China E-Commerce Curbs *Section: Markets · Source: Bloomberg · Tickers: $BABA* 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. - $BABA close: $104.41 (-3.87%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-21#item-19 ## 20. Intel Touts Factory Expansion Progress in Sign of Growing Demand *Section: AI Infrastructure · Source: Bloomberg · Tickers: $INTC* 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. - $INTC close: $92.96 (+1.39%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-21#item-20 ## 21. Kinder Morgan Commits to $4.2 Billion Texas Pipeline to Power Data Centers *Section: AI Infrastructure · Source: 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. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-21#item-21 --- ## Questions this brief answers **What is the Elon Musk deal, and what is it worth?** 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. **What did NextDC Profit Warning Sends Shares Down 42% announce on October 21, 2026?** 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. **What did ebay to cut 9% do with interest rates?** 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. **How much did Whop raise, and at what valuation?** 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. **What did OpenAI announce on October 21, 2026?** 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. **What did OpenAI announce on October 21, 2026 (OpenAI to Bring Its Models to Google)?** 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. --- ## More from Daily Fintech News - Previous brief: [October 20, 2026 — SpaceX reports Q3 2026 revenue up 161% to $14.6B, first profit; Space Intelligence now largest segment](https://dailyfintechnews.com/brief/fintech/2026-10-20) - Next brief: [October 22, 2026 — Nasdaq suffers worst session since June 5 as AI-spending fears erase ~$1.2T](https://dailyfintechnews.com/brief/fintech/2026-10-22) - Also covers China, Data center, Elon Musk: [September 15, 2026 — Clarity Act Crypto Bill Fails to Advance in Senate; Coinbase, Circle Slide](https://dailyfintechnews.com/brief/fintech/2026-09-15) - Also covers ChatGPT, China, Data center: [September 21, 2026 — Nasdaq Closes at Record as Chip and AI Stocks Rally](https://dailyfintechnews.com/brief/fintech/2026-09-21) - Also covers Data center, Elon Musk, Google: [October 5, 2026 — Musk Confirms SpaceX–TSMC Chip Talks; SpaceX Jumps 7.6%](https://dailyfintechnews.com/brief/fintech/2026-10-05) - [All briefs](https://dailyfintechnews.com/brief/fintech) *Source: Daily Fintech News (https://dailyfintechnews.com). 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