# Daily Fintech News — October 28, 2026 > Daily brief on markets, macro, banking, chips and AI infrastructure. Published October 28, 2026 at 7:00 PM ET by Daily Fintech News. Canonical HTML: https://dailyfintechnews.com/brief/fintech/2026-10-28 **Entities covered:** Amazon, ChatGPT, Google, Microsoft, Alphabet Inc., SK Hynix, Marvell Technology, Apple Inc., Micron Technology, Nvidia, Hugging Face, Anthropic, Texas, Data center, Initial public offering --- ## 1. Amazon Lists 250 Million Products From Rival Sites to Battle AI Shopping Agents *Section: AI · Source: The Information · Tickers: $AMZN* Amazon has expanded its Shop Direct initiative to list 250 million products from brands that don't sell on its site, aiming to keep shoppers from defecting to outside AI shopping agents like Meta's Muse. The move raises the stakes as AI assistants begin buying across competing retailers. - $AMZN close: $254.60 (+0.59%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-28#item-1 ## 2. Oracle Launches AI Workspace on ChatGPT, Adds Google TPUs and Cerebras Chips to Its Cloud *Section: AI · Source: WSJ · Tickers: $ORCL* Oracle unveiled an AI Workspace that lets enterprises reach all of their Oracle applications and data through ChatGPT, its deepest enterprise tie-up with OpenAI yet. Oracle also said it will add Google's TPUs, Cerebras inference chips and OpenAI's Jalapeno chip to its cloud to give customers more compute choices amid tight AI supply. - $ORCL close: $144.54 (+10.73%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-28#item-2 ## 3. Tech Stocks Rebound as AI Trade Revives Ahead of Microsoft and Alphabet Earnings *Section: Markets · Source: NYT* Technology shares climbed as investors positioned ahead of after-the-bell results from AI hyperscalers Microsoft and Alphabet, with Amazon due Thursday. The reports are seen as a test of whether surging AI-infrastructure spending and debt will reassure or rattle markets. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-28#item-3 ## 4. Foundry Raises $100 Million to Build AI-Powered Autonomous Factories *Section: Funding · Source: The Information* Foundry, a startup founded less than a year ago, raised a $100 million Series A led by Marlinspike Partners, with earlier backer Khosla Ventures participating, to build factories organized around AI-powered robots rather than fixed production lines. Its flexible 'manufacturing-as-a-service' model already serves customers in defense, energy, autonomous vehicles and telecom. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-28#item-4 ## 5. Wall Street's AI Debt Machine Is Starting to Choke on Supply *Section: Markets · Source: Bloomberg* Early signs suggest the credit market is nearing the limit of how much AI-infrastructure debt it can absorb. Yields on bonds and loans funding data centers and chips are climbing into double digits and bankers are finding it harder to offload risk to insurers and other investors, with warnings that some 'neocloud' providers could fail as fresh financing dries up. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-28#item-5 ## 6. Investors Brace for Big Tech's AI Spending Bill Ahead of Microsoft, Alphabet Earnings *Section: Markets · Source: NYT* With Microsoft and Alphabet reporting after today's close and Amazon on Thursday, investors are focused less on revenue than on the returns Big Tech is getting from soaring AI capital spending. Nasdaq futures pointed to a third straight day of gains, even as Meta, SpaceX and Broadcom lined up roughly $200 billion in new AI financing and SK Hynix reported blowout memory-chip earnings and said it is effectively sold out through 2029. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-28#item-6 ## 7. Alphabet Shares Tumble ~9% as Q3 Misses and $51B AI Outlay Deepens Cash Burn *Section: Earnings · Source: FT · Tickers: $GOOGL* Alphabet's Q3 missed revenue and profit estimates as search-ad growth slowed; shares fell about 9% — potentially its worst drop in years — as a roughly $51B AI capex outlay pushed free cash flow to negative $9.1B. - $GOOGL close: $324.89 (+1.34%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-28#item-7 ## 8. Microsoft Quarterly Profit Soars as Cloud Growth Accelerates *Section: Earnings · Source: WSJ · Tickers: $MSFT* Microsoft's fiscal Q1 revenue rose 19% to $92.3B with cloud and Azure growth accelerating and profit soaring, easing investor jitters over returns from the AI build-out. - $MSFT close: $531.01 (-0.06%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-28#item-8 ## 9. ServiceNow Falls After Quarterly Sales Outlook Revives AI Fears *Section: Earnings · Source: Bloomberg · Tickers: $NOW* ServiceNow shares dropped after its forward sales outlook reignited concerns about AI's impact on software demand, overshadowing the quarter's results. - $NOW close: $150.13 (-3.00%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-28#item-9 ## 10. Vertiv Jumps ~16% on 61% Sales Growth and Raised 2026 Guidance *Section: Earnings · Source: WSJ · Tickers: $VRT* Data-center infrastructure maker Vertiv reported Q3 net sales up 61% with organic orders up over 100% and raised full-year guidance across key metrics; the stock jumped about 16%. - $VRT close: $242.94 (+16.48%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-28#item-10 ## 11. SK Hynix Profits Soar on AI Chip Demand; to Return $75B to Investors *Section: Earnings · Source: FT* SK Hynix posted a better-than-expected quarterly operating profit on roaring AI memory-chip demand and said it will return about $75B to shareholders this year. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-28#item-11 ## 12. Oracle Rallies After Telling Investors Its AI Bet Will Pay Off Sooner *Section: Markets · Source: FT · Tickers: $ORCL* Oracle rallied about 11% after projecting $30B in free cash flow by 2029 and saying it will limit additional data-center fundraising to $20B, reassuring investors on its AI strategy. - $ORCL close: $144.54 (+10.73%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-28#item-12 ## 13. Marvell Nears Megadeal to Acquire Lumentum in AI Optics Push *Section: M&A · Source: Bloomberg · Tickers: $LITE, $MRVL* Marvell is in advanced talks for a megadeal to buy optical-networking maker Lumentum, combining two players in the optics that stitch together AI data centers. Lumentum (~$82B market cap) jumped about 12% on the report while Marvell (~$220B) fell roughly 10%. - $LITE close: $913.95 (+5.52%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-28#item-13 ## 14. Samsung Shares Slide on Lack of Shareholder-Return Detail Despite AI Chip Boom *Section: Earnings · Source: FT* Samsung shares fell as Q3 profit came in just shy of estimates and the company gave no detail on an investor-return plan, overshadowing a bullish AI-memory outlook. The memory giant hiked capital spending and said its AI chips are effectively sold out through 2027. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-28#item-14 ## 15. Shopify Adopts Agentic Payment Tech From Visa and Mastercard *Section: Payments · Source: The Information · Tickers: $MA, $SHOP, $V* Shopify is adopting agentic-commerce payment technology from Visa and Mastercard as the card networks push merchants onto their own rails for AI-agent-driven purchases. The move deepens the fight to control checkout as AI shopping agents proliferate. - $SHOP close: $168.22 (+1.45%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-28#item-15 ## 16. Flash-Memory Makers Turn the Tables on Apple as AI Hyperscalers Bid Up Supply *Section: Chips · Source: WSJ · Tickers: $AAPL, $MU* Flash-storage makers that Apple squeezed for years are regaining pricing power as AI data-center operators bid up and gobble up NAND supply. The shift hands memory suppliers leverage over Apple and underscores how the AI build-out is reshaping the chip supply chain. - $AAPL close: $343.83 (-0.94%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-28#item-16 ## 17. DOJ Inquires About Nvidia's Hugging Face Deal, Reuters Says *Section: AI · Source: Bloomberg · Tickers: $NVDA* The U.S. Justice Department has made inquiries about Nvidia's deal with AI model-sharing platform Hugging Face, according to Reuters, adding antitrust scrutiny to Nvidia's wave of AI investments. It is the latest regulatory look at the chipmaker's dealmaking. - $NVDA close: $215.38 (-1.17%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-28#item-17 ## 18. FuriosaAI Quadruples Valuation to $2.9 Billion in Nvidia Chase *Section: Funding · Source: Bloomberg* South Korean AI-chip startup FuriosaAI quadrupled its valuation to $2.9B in a new funding round as it races to challenge Nvidia in AI inference silicon. The raise reflects continued investor appetite for credible Nvidia alternatives. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-28#item-18 ## 19. Banks Shelve Bond Sale for Anthropic-Tied Texas Data Center *Section: AI · Source: Bloomberg* Banks are delaying plans to offload part of a $15B loan funding an Anthropic-tied Texas data center after the state paused new projects to assess power-grid risks. The shelved bond sale leaves banks holding the debt longer and lands as Anthropic ramps computing spend ahead of its massive IPO. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-28#item-19 ## 20. Nscale Pushes Toward $30 Billion Neocloud IPO Amid AI Turmoil *Section: IPO · Source: Bloomberg* AI data-center startup Nscale, led by 32-year-old founder Josh Payne, is pressing ahead with plans to list publicly at a roughly $30B valuation despite a tumultuous moment for the AI industry. The three-year-old 'neocloud' has attracted nearly $10B in equity and debt as providers race to build out AI compute. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-28#item-20 ## 21. Equinix Says Data-Project Barriers Could Boost Its Pricing Power *Section: AI · Source: Bloomberg · Tickers: $EQIX* Equinix told analysts on its Q3 call that mounting barriers to bringing new data-center projects online will make existing capacity scarcer and more valuable, potentially strengthening its market grip and pricing. CEO Adaire Fox-Martin said canceled projects only make already-scarce capacity more of a scarce resource. - $EQIX close: $1007.66 (+0.83%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-28#item-21 ## 22. US Tech Stocks Set to Fall as Alphabet, Microsoft Capex Fuels AI-Spending Concerns *Section: Markets · Source: FT* US tech stocks were poised to drop, with Nasdaq 100 futures pointing about 1.3% lower, after Alphabet and Microsoft reported heavier-than-expected AI capital spending and softer-than-hoped guidance. The after-hours reversal reflects renewed investor anxiety over how quickly Big Tech's AI build-out will pay off. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-28#item-22 --- ## Questions this brief answers **What did Amazon announce on October 28, 2026?** Amazon has expanded its Shop Direct initiative to list 250 million products from brands that don't sell on its site, aiming to keep shoppers from defecting to outside AI shopping agents like Meta's Muse. **Why did Google shares rise?** Oracle unveiled an AI Workspace that lets enterprises reach all of their Oracle applications and data through ChatGPT, its deepest enterprise tie-up with OpenAI yet. Oracle also said it will add Google's TPUs, Cerebras inference chips and OpenAI's Jalapeno chip to its cloud to give customers more compute choices amid tight AI supply. **What did Microsoft report for the quarter?** Technology shares climbed as investors positioned ahead of after-the-bell results from AI hyperscalers Microsoft and Alphabet, with Amazon due Thursday. The reports are seen as a test of whether surging AI-infrastructure spending and debt will reassure or rattle markets. **How much did Foundry raise?** Foundry, a startup founded less than a year ago, raised a $100 million Series A led by Marlinspike Partners, with earlier backer Khosla Ventures participating, to build factories organized around AI-powered robots rather than fixed production lines. **What did Wall Street's AI Debt Machine announce on October 28, 2026?** Early signs suggest the credit market is nearing the limit of how much AI-infrastructure debt it can absorb. Yields on bonds and loans funding data centers and chips are climbing into double digits and bankers are finding it harder to offload risk to insurers and other investors, with warnings that some 'neocloud' providers could fail as fresh financing dries up. **What did Microsoft report for the quarter (Investors Brace for Big Tech's AI)?** With Microsoft and Alphabet reporting after today's close and Amazon on Thursday, investors are focused less on revenue than on the returns Big Tech is getting from soaring AI capital spending. --- ## More from Daily Fintech News - Previous brief: [October 27, 2026 — Robinhood posts Q3 revenue up 12%, EPS misses](https://dailyfintechnews.com/brief/fintech/2026-10-27) - Next brief: [October 29, 2026 — Alphabet Shares Plunge ~13% in Worst Day Ever After Q3 Earnings Disappoint](https://dailyfintechnews.com/brief/fintech/2026-10-29) - Also covers Alphabet Inc., Amazon, Anthropic: [September 8, 2026 — Palantir names Nebius its preferred sovereign AI infrastructure partner](https://dailyfintechnews.com/brief/fintech/2026-09-08) - Also covers Alphabet Inc., Amazon, Anthropic: [September 21, 2026 — Nasdaq Closes at Record as Chip and AI Stocks Rally](https://dailyfintechnews.com/brief/fintech/2026-09-21) - Also covers Alphabet Inc., Amazon, Anthropic: [September 23, 2026 — 10-Year Treasury Yield Tops 5.1% as Hot PMI Data Fuels Inflation Fears](https://dailyfintechnews.com/brief/fintech/2026-09-23) - [All briefs](https://dailyfintechnews.com/brief/fintech) *Source: Daily Fintech News (https://dailyfintechnews.com). Attribution with a link to the brief URL is appreciated when quoted.*