# Daily Fintech News — October 22, 2026 > Daily brief on markets, macro, banking, chips and AI infrastructure. Published October 22, 2026 at 7:00 PM ET by Daily Fintech News. Canonical HTML: https://dailyfintechnews.com/brief/fintech/2026-10-22 **Entities covered:** Nvidia, Jensen Huang, OpenAI, SK Hynix, United States, Initial public offering, Tesla, Inc., SpaceX, China, Nebius Group, Citigroup, Data center, Meta Platforms, SoftBank Group, SB Energy, Anthropic, Elon Musk, Apple Inc., Huawei --- ## 1. Nasdaq suffers worst session since June 5 as AI-spending fears erase ~$1.2T *Section: Markets* The Nasdaq fell 2.6% (Nasdaq 100 -2.9%) in its worst session since June 5, erasing nearly $1.2T as AI spending and profitability fears hit chips hardest (SOX -6.7%, AMD -8%, Micron -6%, Nvidia -4%) and Meta dropped 7%. AI and chip names drove ~90% of the Nasdaq 100's losses, though the Dow and Russell 2000 gained. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-1 ## 2. Nvidia's Jensen Huang dismisses neocloud financing fears, says AI demand is 'off the charts' *Section: AI · Tickers: $NVDA* Huang pushed back on concerns about neocloud financing, arguing demand for AI compute remains 'off the charts' and that strong customer demand will ultimately help providers secure the working capital needed to expand. He said 'you can't solve the absence of demand,' but financing challenges are solvable when demand is high. - $NVDA close: $212.21 (-4.40%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-2 ## 3. Bloom Energy crushes Q3: revenue +138% to $1.24B, raises full-year guidance *Section: Earnings · Tickers: $BE* Bloom Energy posted Q3 revenue up 138% YoY to $1.24B (vs $1.05B est) and adjusted EPS of $0.94 (vs $0.68 est), with adjusted operating income of $285.7M and gross margins expanding 412bps to 34.5%. It raised FY2026 revenue guidance to $4.4B-$4.6B and adjusted EPS to $3.10-$3.40, though operating cash flow was -$27.1M. - $BE close: $217.77 (-8.70%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-3 ## 4. OpenAI nearing $30B round at $1.25T valuation led by UAE investors and Coatue *Section: Deals* OpenAI is reportedly close to a $30B funding round at a $1.25T valuation, led by UAE investors and Coatue, positioned as a bridge ahead of a possible 2027 IPO, per CNBC. It is separately negotiating to secure additional AI computing capacity from the UAE. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-4 ## 5. SK Hynix scraps U.S. IPO of Solidigm flash-memory unit after regulatory pushback *Section: Deals* SK Hynix has scrapped plans for a U.S. IPO of its Solidigm subsidiary and halted a related pre-IPO round after regulators flagged a possible 'duplicate listing' and shareholders objected, per Bloomberg. The IPO, with Goldman Sachs and Morgan Stanley lined up as underwriters, had been targeted for 2027. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-5 ## 6. Most active options today led by Nvidia, Tesla and SpaceX *Section: Markets* The top options by contracts traded were NVDA (3.5M), TSLA (2.6M), SPCX (1.7M), AAPL (1.4M), MU (1.2M), META (1.2M), INTC (1.2M), AMZN (1.0M), NFLX (967K) and CRWV (941K). Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-6 ## 7. SpaceX seeks access to 80,000 cell tower sites to turn Starlink into a fourth wireless carrier *Section: Deals* SpaceX is reportedly seeking access to at least 80,000 U.S. cell tower sites, in talks with operators including Crown Castle on deals potentially worth billions, per Bloomberg. Following its low-band spectrum deal and FCC approval for 15,000 direct-to-device satellites, the push would let Starlink compete with AT&T, Verizon and T-Mobile. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-7 ## 8. China keeps accumulating gold; estimated OTC purchases far exceed official figures *Section: Macro* Goldman Sachs estimates Chinese gold purchases via the London OTC market hit 25 tonnes in August, ~25% above the 20 tonnes officially reported, with estimated OTC buying exceeding reported central-bank purchases by 83 tonnes (128%) over four months. Global central banks are estimated to have bought 79 tonnes in August, ~365% above the pre-2022 average. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-8 ## 9. Nvidia's Huang says memory surplus unlikely by 2029, citing relentless AI demand *Section: AI · Tickers: $NVDA* Huang told CNBC he doesn't expect a surplus of memory supply by 2029, signaling continued confidence in long-term DRAM and HBM demand as AI infrastructure expands. He noted 'you can always use more of it' as larger models, context windows and inference workloads push memory needs higher. - $NVDA close: $212.21 (-4.40%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-9 ## 10. SpaceX finalizing $40B debt package at sharply higher borrowing costs *Section: Deals* SpaceX is reportedly finalizing a $40B debt financing led by Apollo and Goldman Sachs, per Semafor, including a lower-rated tranche near 8.3% and a chip-backed portion around 7.75% - more than 100bps above its existing bonds. The deal, expected to close next week, underscores the rising cost of financing large-scale AI infrastructure. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-10 ## 11. Nebius secures $3.5B credit facility from Citi for AI data-center expansion *Section: AI Infrastructure · Tickers: $NBIS* Nebius secured a $3.5B senior secured credit facility from Citi to fund its global AI data-center expansion and GPU purchases, with a 364-day maturity and costs starting at SOFR+2.75%. The company cited more than $40B in long-term contracts with investment-grade customers to support further asset-backed financing. - $NBIS close: $159.17 (-7.23%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-11 ## 12. 10-year Treasury yield falls below 5% for first time since Sept 23 amid tech selloff *Section: Markets* The U.S. 10-year Treasury yield slipped below 5.00% for the first time since September 23 as the tech and AI selloff intensified and investors rotated into government bonds. The move highlights a growing divergence between falling yields and pressured equities. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-12 ## 13. Utopai Becomes a Unicorn as Video AI Takes Off *Section: AI · Source: The Information* AI video-generation startup Utopai has reached unicorn status with a valuation topping $1 billion, as investor demand for generative video AI accelerates. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-13 ## 14. DeepSeek Raises $15 Billion Ahead of Planned Shanghai Listing *Section: AI · Source: WSJ* Chinese AI startup DeepSeek raised $15 billion in its second private financing round, nearly doubling its initial target, as it accelerates its IPO timeline toward a potential Shanghai listing early next year. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-14 ## 15. Spotify Stock Jumps as Subscriber Growth Beats Expectations *Section: Markets · Source: WSJ · Tickers: $SPOT* Spotify shares jumped more than 10% after the company reported better-than-expected third-quarter premium subscriber growth, adding 6 million subscribers to reach 306 million — about a million above its prior guidance. - $SPOT close: $583.66 (+11.10%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-15 ## 16. Meta to Split Stock and Create New Share Class to Fund AI Spending *Section: Markets · Source: WSJ · Tickers: $META* Meta will split its stock and create a new share class to fund soaring AI investments after reporting record Q3 revenue of $64.6 billion; shares fell more than 5% as investors balked at projected billions in additional future spending commitments. - $META close: $648.85 (-6.98%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-16 ## 17. Ex-OpenAI Science Head Kevin Weil Launches Startup With $215 Million *Section: AI · Source: Bloomberg* Kevin Weil, who led OpenAI's AI-for-science efforts, launched Warp Sciences out of stealth with $215 million led by Lightspeed Venture Partners, valuing the AI drug-development startup at $865 million. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-17 ## 18. Nokia Profit Beats Estimates as Data Centers Fuel Growth *Section: Earnings · Source: Bloomberg · Tickers: $NOK* Nokia's third-quarter adjusted operating income rose to 605 million euros, beating the 454 million euro analyst estimate, driven by surging demand for data-center networking equipment tied to AI-infrastructure investment. - $NOK close: $7.88 (-14.81%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-18 ## 19. SoftBank Market Value Halves From Peak as AI Fears Grow *Section: AI · Source: Bloomberg · Tickers: $SFTBY* SoftBank shares fell 6.9% Thursday, taking the drop from its June peak to 50%, as higher borrowing costs stoke investor concern over the sustainability of its massive AI investments; its market cap is now about 24.7 trillion yen ($157 billion). - $SFTBY close: $13.46 (-8.19%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-19 ## 20. SB Energy Weighs Delaying IPO to December or Later *Section: Deals · Source: The Information* SB Energy, the SoftBank-controlled developer behind a large Ohio data-center project for OpenAI, is weighing pushing its IPO to December or into next year — later than the September debut once targeted — as public markets turn cautious on data-center listings. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-20 ## 21. Datadog Offered $4 Billion to Buy Cloud-Security Startup Upwind *Section: Deals · Source: The Information · Tickers: $DDOG* Datadog offered about $4 billion to acquire cloud-security startup Upwind, a deal that would significantly expand its security product line as it pushes deeper into the fast-growing cloud-security market. - $DDOG close: $257.75 (-5.62%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-21 ## 22. Western Digital Gives Strong Outlook, Hikes Dividend on AI Demand *Section: Earnings · Source: Bloomberg · Tickers: $WDC* Western Digital forecast better-than-expected earnings and raised its quarterly dividend 17% to $0.175 a share as AI-driven data-storage demand surged. Fiscal Q1 revenue jumped 55% to $4.38 billion and non-GAAP gross margin expanded to 58.1% from 43.9%, though shares gave back early gains in a broad AI selloff. - $WDC close: $354.19 (-6.43%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-22 ## 23. Anthropic Draft S-1 Shows $16.3 Billion First-Half Revenue Ahead of IPO *Section: AI · Source: Bloomberg* Anthropic's draft S-1 revealed $16.3 billion in first-half 2026 revenue, up from $1.1 billion a year earlier, ahead of a public IPO filing expected as soon as Friday. The filing also flagged heavy customer concentration and a large, mostly non-cash loss, with an implied valuation near $2 trillion that would make it one of the biggest listings ever. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-23 ## 24. Tesla Profit Falls 43% as Revenue Stays Flat; Musk Eyes SpaceX Merger *Section: Earnings · Source: FT · Tickers: $TSLA* Tesla's Q3 revenue was roughly flat at $28.05 billion, narrowly beating estimates, but net profit fell about 43% as margins compressed. Musk set a lower vehicle sales target, leaned into robotaxi and robot plans, and said Tesla is exploring a merger with SpaceX. Shares slipped despite the earnings beat. - $TSLA close: $374.58 (-3.08%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-24 ## 25. DeepSeek, MiniMax Win Approval for Global Use, State Media Says *Section: AI · Source: Bloomberg* DeepSeek and MiniMax have won approval to deploy their AI models overseas, part of a wave of homegrown Chinese AI that Beijing will allow to operate globally, according to a CCTV-affiliated state media account. Much of Chinese AI will remain free for export despite a draft proposal for AI export controls. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-25 ## 26. SK Data Center Arm in Talks to Fund $350 Billion AI Buildout *Section: AI · Source: Bloomberg* SK Hyper, SK Group's data center arm, is in talks with big tech firms and financial investors to help fund an envisioned $350 billion data center buildout, part of a global rush to roll out AI infrastructure. The plan targets 15 gigawatts of capacity in South Korea by 2035, with the first 5GW phase alone needing $350B. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-26 ## 27. Apple Is Wall Street's Favorite AI Haven as Spending Fears Hit *Section: Markets · Source: Bloomberg · Tickers: $AAPL* Apple has become one of the market's most reliable hedges against AI-spending jitters, moving opposite AI stocks as sentiment swings. Its shares are up 27% in 2026 - the biggest contributor to the S&P 500's climb and the best performer among the Magnificent Seven this year. - $AAPL close: $348.22 (+1.23%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-27 ## 28. SpaceX Works With Apollo, Nvidia on New Grok Partnership Program *Section: AI · Source: Bloomberg* SpaceX is working with Apollo Global Management, Nvidia and dozens of other firms on a new partner program to deploy and improve its Grok AI systems and boost enterprise adoption. More than 130 companies, including Snowflake, Databricks, Bain and Booz Allen, gained early access to the Super Intelligence Partner Network. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-28 ## 29. Huawei Gets $2.3 Billion Offshore Loan as Chip Spending Soars *Section: Tech · Source: Bloomberg* Huawei has secured a 15 billion yuan ($2.25 billion) seven-year offshore loan from six Chinese banks, including Bank of China, China Construction Bank and ICBC, as its spending on chips to power AI projects soars. Proceeds will be used for general corporate purposes. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-29 ## 30. Physical AI Startup Tractian Hits $1.4B Valuation in $130M Series D *Section: Deals · Source: The Information* Tractian, a 7-year-old Atlanta-based physical AI startup that retrofits industrial machines with sensors and AI software to predict failures, raised $130 million at a $1.4 billion valuation in a Series D led by Sapphire Ventures. Annualized revenue recently crossed $100 million, growing 90% year over year, with AI data centers among its fastest-growing customer segments. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-30 ## 31. China AI Model Stocks Shed $150 Billion With Selloff Showing No Sign of Easing *Section: Markets · Source: Bloomberg* The combined market value of Chinese AI model developers MiniMax and Z.AI (Zhipu) has fallen about $150 billion from their respective highs as of Thursday's close, a sharp reversal from their hotly anticipated January debuts. Intensifying competition and the threat of rival listings next year are fueling the ongoing slide. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-31 ## 32. Meta Credit Risk Gauge Surges to Record on AI Spending Plans *Section: Markets · Source: Bloomberg · Tickers: $META* A measure of Meta's credit risk hit a record high Thursday as plans to ramp up capital spending reignited fears that tech giants will issue more debt for the AI buildout. Five-year credit default swaps on Meta's debt rose as much as 8.9 basis points to around 119.3 bps, the highest since the swaps began actively trading about a year ago, with CDS on Oracle, Microsoft and Broadcom also rising. - $META close: $648.85 (-6.98%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-22#item-32 --- ## Questions this brief answers **What did Nasdaq suffers worst session announce on October 22, 2026?** The Nasdaq fell 2.6% (Nasdaq 100 -2.9%) in its worst session since June 5, erasing nearly $1.2T as AI spending and profitability fears hit chips hardest (SOX -6.7%, AMD -8%, Micron -6%, Nvidia -4%) and Meta dropped 7%. **What did Nvidia announce on October 22, 2026?** Huang pushed back on concerns about neocloud financing, arguing demand for AI compute remains 'off the charts' and that strong customer demand will ultimately help providers secure the working capital needed to expand. **How much did Bloom Energy crushes Q3: revenue +138% to $1.24B raise?** Bloom Energy posted Q3 revenue up 138% YoY to $1.24B (vs $1.05B est) and adjusted EPS of $0.94 (vs $0.68 est), with adjusted operating income of $285.7M and gross margins expanding 412bps to 34.5%. **How much did OpenAI raise, and at what valuation?** OpenAI is reportedly close to a $30B funding round at a $1.25T valuation, led by UAE investors and Coatue, positioned as a bridge ahead of a possible 2027 IPO, per CNBC. It is separately negotiating to secure additional AI computing capacity from the UAE. **What did SK Hynix announce on October 22, 2026?** SK Hynix has scrapped plans for a U.S. IPO of its Solidigm subsidiary and halted a related pre-IPO round after regulators flagged a possible 'duplicate listing' and shareholders objected, per Bloomberg. **Which stocks had the most active options on October 22, 2026?** The top options by contracts traded were NVDA (3.5M), TSLA (2.6M), SPCX (1.7M), AAPL (1.4M), MU (1.2M), META (1.2M), INTC (1.2M), AMZN (1.0M), NFLX (967K) and CRWV (941K). --- ## More from Daily Fintech News - Previous brief: [October 21, 2026 — Musk Says Tesla and SpaceX Are Exploring a Mega-Merger; Shares Jump](https://dailyfintechnews.com/brief/fintech/2026-10-21) - Next brief: [October 23, 2026 — Anthropic strikes deal to launch independent European AI consultancy with Hg](https://dailyfintechnews.com/brief/fintech/2026-10-23) - Also covers Anthropic, Apple Inc., China: [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 Anthropic, Apple Inc., China: [September 16, 2026 — Fed Raises Rates 25 bps in Unanimous Decision, First Hike Since 2023](https://dailyfintechnews.com/brief/fintech/2026-09-16) - Also covers Anthropic, Apple Inc., China: [September 21, 2026 — Nasdaq Closes at Record as Chip and AI Stocks Rally](https://dailyfintechnews.com/brief/fintech/2026-09-21) - [All briefs](https://dailyfintechnews.com/brief/fintech) *Source: Daily Fintech News (https://dailyfintechnews.com). 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