Tuesday, October 27, 2026 · 1:09 AM ET
AI Infrastructure
SpaceX signed a binding commitment letter with an Apollo Global Management-managed entity for roughly $40B in GPU financing to support its AI data-center buildout. Apollo's entity would buy GPU pods and related equipment and lease them to SpaceX over 5-5.25 year terms, with the deal expected to close before year-end and deliveries beginning in H1 2027.
AI / IPO
Anthropic filed its S-1 to list on the Nasdaq under ticker ANT, with Goldman Sachs, Morgan Stanley and JPMorgan leading what could be the largest IPO in history. H1 2026 revenue surged to $16.3B from $1.16B a year earlier with net revenue retention near 900%, even as it posted an $80.7B net loss driven largely by a $72.4B noncash charge tied to convertible notes; it also disclosed enormous multiyear compute commitments, including about $161B in Broadcom TPU leases and tens of billions each with SpaceXAI, Google, Amazon and Microsoft, plus a structure preserving 50.1% founder voting control.
Markets
Barclays upgraded Tesla to Overweight from Equal Weight and raised its price target to $450 from $370. Analyst Dan Levy cited a more attractive risk/reward, a potential SpaceX merger premium, improving auto demand, energy-business growth, accelerating Robotaxi miles, and FSD adoption topping 75% of new North American deliveries.
Tech
Microsoft is offering voluntary buyouts to roughly 60,000 employees, more than 25% of its global workforce, across the US, Canada, UK and India as it restructures operations. Eligible staff have until early December to accept severance in exchange for leaving, with departures expected by year-end.
Chips
Samsung and SK Hynix are reportedly targeting Q2 2027 to begin mass production of 8-layer HBM4 memory for Nvidia's next-generation Rubin Ultra rack-scale AI systems. The 8-layer share of shipments is expected to rise significantly from mid-2027 as high-bandwidth memory capacity expands for AI infrastructure.
Markets
The day's most active options by contracts traded were led by Tesla (3.4M) and Nvidia (3.1M), followed by Apple (1.6M), Micron (1.3M), SpaceX (1.3M), Meta (979K), Amazon (884K), Netflix (624K), Intel (598K) and AMD (550K).
AI Infrastructure
Meta plans to raise about $35B through new equity offerings - $22.5B in Class A common via forward sale agreements and $12.5B in depositary shares tied to mandatory convertible preferred - and is weighing a separate $60B nonvoting Class C program beginning Q1 2027, bringing potential financing capacity to roughly $95B. Nvidia, AMD and Broadcom have expressed nonbinding interest in buying up to $5B of Meta shares combined, giving major chip suppliers potential direct equity exposure to a top customer.
Deals
DoorDash is reportedly in advanced negotiations to acquire Instacart, with a potential agreement possible as early as this week. A deal would significantly expand DoorDash's grocery-delivery presence; earlier takeover interest from Uber is reportedly no longer active.
Markets
The 10 largest US leveraged equity ETFs drew roughly $12B of net inflows over the past month even as their combined market cap fell about $20B, pointing to aggressive dip-buying during the selloff. Inflows were led by the Direxion Daily Semiconductor Bull 3X ETF (SOXL), which pulled in a record $9B in two weeks, and ProShares UltraPro QQQ (TQQQ).
Markets
Morgan Stanley strategist Michael Wilson expects the current US equity correction to give way to a rebound as uncertainties clear, maintaining a year-end S&P 500 base case of 8,000 despite near-term downside risk to 7,100-7,200. He flagged liquidity constraints as the biggest immediate risk and a potential Fed policy pivot as a key catalyst.
AI Infrastructure
UBS pushed back on fears that CoreWeave could face a debt spiral as credit markets tighten, arguing the company has multiple financing alternatives - private credit, vendor financing and equity - and said it did not come away expecting capital to be scarce in 2027. Separately, Cantor Fitzgerald reiterated its Overweight rating and $176 price target.
Macro
The US and Canada are reportedly negotiating a potential deal to ease Section 232 tariffs on Canadian steel (up to 50%) and automobiles (25%), with one source suggesting an agreement could come before the November 3 midterms. The talks follow threats to raise steel and auto tariffs to 50% in January 2027, though no agreement has been finalized.
AI · WSJ
Anthropic made its S-1 public Monday, giving the first official look at the Claude maker's finances: $16.3B in revenue alongside steep losses and massive computing costs. It plans to list on the Nasdaq under the ticker 'ANT' as soon as November, with reports it could target a valuation as high as $2 trillion — topping the record SpaceX set in June. The filing also disclosed that Google, Amazon and Broadcom have offered roughly $77B in financing, a concentrated customer base, and a 'catastrophic AI-related incident' among its risk factors.
AI · FT
Meta is looking to raise up to $95 billion in an equity offering to fund its massive AI infrastructure buildout — among the largest such raises ever. Reports say chipmakers Nvidia, AMD and Broadcom are lined up to act as cornerstone investors in the deal. The scale of Meta's AI spending has rattled investors in recent sessions.
AI · The Information
As AI assistants gain traction in shopping, Stripe has taken a leading position in how those agents pay — in many cases via single-use virtual cards. That's unnerving Visa and Mastercard, which stand to lose control over the shopping and payment process as agent-driven purchases grow.
Markets · Bloomberg
Wall Street strategists warn that the slide in AI cloud ('neocloud') providers could spill into the broader tech trade and drag US equities toward their June lows. CoreWeave — at the center of the turmoil after its bonds fell to distressed levels — is down 41% since Oct. 6, with peers Iren (-40%) and Nebius (-36%) also sharply lower.
AI · Bloomberg
Broadcom has arranged a $63 billion financing deal with Bank of America, Blackstone, Citigroup and Morgan Stanley to fund the purchase of chips for AI developer Anthropic. The money flows through a new special-purpose vehicle that buys Broadcom chips and leases them to Anthropic, with Broadcom backstopping part of the financing via residual-value support.
AI · Bloomberg
SpaceX agreed to a roughly $40 billion equipment-finance lease with Apollo Global Management to pay for the chips powering its AI ambitions. Per a Monday filing, the fixed rate will be set at pricing, the deal is expected to close before year-end, and the leases are expected to start in the first half of next year.
Chips · Bloomberg
The world's biggest memory-chip makers — SK Hynix, Samsung, Japan's Kioxia and China's CXMT — report earnings in back-to-back disclosures this week that will test whether AI spending is outpacing future demand. Together they command over $2 trillion in market value and supply components making up about a third of big tech providers' data-center spending, making their outlook pivotal for markets and the broader AI industry.
Markets · Bloomberg
Bearish analyst calls on Tesla have fallen to their lowest level in more than 11 years as a long-awaited combination with SpaceX edges closer. BNP Paribas and CLSA dropped their sell-equivalent ratings last week and Barclays upgraded the stock to a buy-equivalent on Monday; Tesla shares rose 5.2% on the day.
Startups · Bloomberg
Bedrock Robotics, a startup making driverless excavators and other autonomous construction machines, reached a $4.1 billion valuation in a new funding round. The $600 million Series C was co-led by CapitalG and Emergence Capital — with Valor Equity Partners, 8VC and Nvidia's venture arm NVentures also participating — taking the company's total funding to date to nearly $1 billion.
Markets / NYT
Elon Musk warned that many AI-infrastructure companies could be shut out of the debt market, a prediction that could weigh on the broader AI trade. His comments add to mounting concern about the heavy borrowing financing the data-center buildout.
Deals · Bloomberg
Intel agreed to buy Israeli startup Classiq Technologies for about $2.3 billion to build a full-stack quantum-computing platform, pairing Classiq's quantum software with Intel's hardware efforts. The transaction is expected to close in the first half of 2027; Intel shares rose about 4% on the day.