Friday, October 23, 2026 · 7:31 PM ET
AI
Anthropic agreed to back a new independent consultancy alongside UK buyout firm Hg — its first move to create a standalone business advising European companies on how to deploy AI — with hubs planned in London and Berlin by year-end.
Earnings
India's second-largest IT outsourcer lowered its forecast for the year through March 2027 to 1%-2% constant-currency revenue growth, below analysts' ~2.03% estimate, signaling that a broad recovery in corporate IT budgets could prove elusive anytime soon.
Chips
China's Cambricon posted September-quarter revenue up 105% to 3.53 billion yuan ($529M) — well short of the ~6.26 billion yuan expected — as manufacturing bottlenecks and memory-chip shortages capped output; net income rose 148% to 1.4 billion yuan.
AI
Meta has a rare consumer hit in its Muse AI agent, but the WSJ argues it is unlikely to generate enough revenue to justify the hundreds of billions of dollars Meta is pouring into AI capital spending — keeping pressure on the stock as investors question the payoff.
M&A
Instacart has explored a sale of its grocery-delivery business, including discussions with Uber that have since ended after the ride-hailing company walked away, a person familiar said; the report sent Instacart shares surging.
AI
AI video startup Higgsfield said it drew investment from Nvidia and TCV to fund global infrastructure and hiring, in an extension to its August Series B that had valued it at $5.4 billion; the reveal came during Jensen Huang's visit to Kazakhstan, where Higgsfield has much of its engineering talent.
AI Infrastructure
S&P Global Ratings warned that data centers face potential rating downgrades as moratoriums, cancellations, grid-capacity constraints and zoning shifts driven by public opposition increase downward pressure on the creditworthiness of data-center projects.
Markets
The Nasdaq 100 capped its worst two-week drop since early last year as an AI-linked equity basket fell 4.9% and investors piled into Treasuries, pushing the 10-year yield below 5% for the first time in a month — despite Wall Street leaders and the Treasury secretary downplaying bubble fears.
AI Infrastructure
SpaceX's effort to finalize a $40 billion off-balance-sheet debt structure — designed to fund Nvidia chip purchases through a special-purpose vehicle while protecting its investment-grade rating — has been complicated by market turmoil that has driven up sector-wide borrowing costs.