# Daily Fintech News — October 30, 2026 > Daily brief on markets, macro, banking, chips and AI infrastructure. Published October 30, 2026 at 7:00 PM ET by Daily Fintech News. Canonical HTML: https://dailyfintechnews.com/brief/fintech/2026-10-30 **Entities covered:** Intel, Amazon, Apple Inc., Nvidia, Kioxia, SoftBank Group, Initial public offering, Anthropic, Meta Platforms, OpenAI --- ## 1. Big Tech Selloff Deepens as AI-Spending Fears Grip Wall Street *Section: Markets* A broad tech rout intensified Friday after megacap earnings misses, with the Nasdaq sliding more than 2% and roughly $900bn wiped from Big Tech. Investors are increasingly questioning the payoff from the surging AI and data-center spending at Alphabet, Amazon and Meta. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-30#item-1 ## 2. Intel Shares Plunge More Than 20% on Weak Sales Outlook *Section: Earnings · Tickers: $INTC* Intel forecast lower-than-expected PC-chip sales and shrinking margins, sending shares toward their worst single-day drop since 1974 and erasing much of this year's rally. - $INTC close: $65.76 (-28.58%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-30#item-2 ## 3. Amazon Shares Slide as Soft Holiday Guidance, Heavy AI Capex Overshadow Cloud Strength *Section: Earnings · Tickers: $AMZN* Amazon came under pressure after a weaker-than-hoped holiday-quarter sales forecast and a warning on soaring capital spending, even as AWS cloud growth stayed strong. The slide added to the day's AI-spending anxiety across tech. - $AMZN close: $240.35 (-1.41%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-30#item-3 ## 4. AI-Debt Jitters Hit Record as Cost to Insure Tech Borrowing Surges *Section: Markets* The cost of protecting against defaults on debt tied to Big Tech's AI borrowing boom jumped to fresh highs on worries about ballooning supply and thinning profits, a sign credit markets are turning wary of the AI capex spree. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-30#item-4 ## 5. Binance Confirms $6.3 Billion Hack, the Largest Crypto Heist Ever *Section: Crypto* Binance halted withdrawals after confirming a record $6.3bn crypto theft and said it plans to cover customer losses. The breach rattled digital-asset markets, with Bitcoin down about 5% and prediction market Polymarket also halting trading. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-30#item-5 ## 6. Plunging Search Traffic Hammers Reddit's Stock *Section: Earnings · Tickers: $RDDT* Reddit shares plunged roughly 28% following its third-quarter results as a sharp drop in search-referral traffic — a major driver of its user growth — alarmed investors already worried that AI-driven changes to Google search are throttling referrals to the platform. - $RDDT close: $91.73 (-29.22%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-30#item-6 ## 7. Twilio Shares Tumble Despite Q3 Beat and Raised Full-Year Guidance *Section: Earnings · Tickers: $TWLO* Twilio sank around 17% even though third-quarter revenue rose 20% to $1.56 billion, beat estimates and the company lifted its full-year outlook. Investors focused instead on a cautious fourth-quarter growth and profit outlook and a stretched valuation. - $TWLO close: $205.03 (-15.24%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-30#item-7 ## 8. Apple Overtakes Nvidia to Become World's Most Valuable Company *Section: Markets · Tickers: $AAPL, $NVDA* Apple reclaimed the title of world's most valuable company on Friday as investors sought the perceived safety of the iPhone maker amid AI-spending jitters, reaching a market value of about $5.03 trillion versus Nvidia's $4.93 trillion. It is the first time Apple has topped Nvidia since briefly doing so in late July. - $AAPL close: $344.63 (-1.23%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-30#item-8 ## 9. Amazon Taps $80 Billion Supplier Loan Facility to Help Fund AI *Section: AI · Tickers: $AMZN* Amazon set up supplier financing arrangements to borrow as much as $80 billion against the hardware it buys, its latest move to preserve financial flexibility while spending hundreds of billions on AI infrastructure. The facility supplements the cash flow and record corporate bond sales it has used to fund data centers and chips. - $AMZN close: $240.35 (-1.41%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-30#item-9 ## 10. Big Tech Holds $3 Trillion in Spending Commitments for AI Boom *Section: AI* The five largest data-center players - Alphabet, Meta, Microsoft, Amazon and Oracle - have together committed more than $3 trillion to AI infrastructure over the coming years, spanning leases, buildings, energy and equipment. The disclosures underscore how aggressively Big Tech is funding the AI build-out even as investors question the payoff. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-30#item-10 ## 11. Kioxia Warns Flash Memory Prices Stalling After Weak Outlook *Section: Chips* Japanese NAND flash maker Kioxia guided to quarterly operating profit of about 2 trillion yen ($12.7bn), below estimates, warning that the AI-fueled surge in memory-chip prices is fading after several blistering quarters. Its average NAND selling price rose a mid-20% last quarter, down from 70% the quarter before. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-30#item-11 ## 12. SoftBank-Backed OPay Prices $4 Billion New York IPO *Section: IPO* Africa-focused fintech OPay, backed by SoftBank, priced its New York IPO at $19 a share - the bottom of its guided range - valuing the payments company at about $4 billion. It sold 16 million American depositary shares, with an over-allotment option for underwriters open through Nov. 2. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-30#item-12 ## 13. Anthropic's Expected IPO Could Deliver a Windfall to US Public Pension Funds *Section: AI* Public pension plans in Orange County, Los Angeles, Massachusetts and South Carolina are positioned for sizeable payouts from Anthropic's anticipated IPO, giving public employees an early stake in the AI boom. The gains would land well before proposals for a sovereign AI wealth fund take shape. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-30#item-13 ## 14. Baseten to Raise Funding That Would Double Valuation to $30 Billion *Section: AI · Source: Bloomberg* AI inference startup Baseten is set to raise a new round that more than doubles its valuation to about $30 billion, structured in two tranches at $26 billion and $30 billion, according to people familiar. It is a sign investors are still writing large checks to AI-infrastructure names even amid the week's tech selloff. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-30#item-14 ## 15. Meta's Credit Rating Outlook Cut to Negative by S&P on AI Spending *Section: Markets · Source: Bloomberg · Tickers: $META* S&P Global Ratings lowered its outlook on Meta's AA- credit rating to negative, an early step toward a possible downgrade within two years, citing rising leverage and the balance-sheet pressure from Meta's elevated AI spending. - $META close: $614.99 (-1.53%) Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-30#item-15 ## 16. OpenAI Raises Less Than Half of Its $30 Billion Funding Target *Section: AI · Source: WSJ* OpenAI has secured only about $11 billion of the $30 billion it initially sought for its latest round as AI-trade jitters cooled investor appetite, valuing the company at roughly $1.25 trillion, below the $1.4 trillion it had hoped to reach. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-30#item-16 ## 17. Anthropic May Not Secure Investment-Grade Rating After IPO, Blackstone Says *Section: AI* Blackstone said Anthropic is now expected to receive a high junk credit rating after its planned IPO, a shift from earlier guidance, raising fresh questions about the AI company's borrowing costs and financial profile as it prepares to go public. Permalink: https://dailyfintechnews.com/brief/fintech/2026-10-30#item-17 --- ## Questions this brief answers **What did Big Tech Selloff Deepens announce on October 30, 2026?** A broad tech rout intensified Friday after megacap earnings misses, with the Nasdaq sliding more than 2% and roughly $900bn wiped from Big Tech. Investors are increasingly questioning the payoff from the surging AI and data-center spending at Alphabet, Amazon and Meta. **What did Intel report for the quarter?** Intel forecast lower-than-expected PC-chip sales and shrinking margins, sending shares toward their worst single-day drop since 1974 and erasing much of this year's rally. **What did Amazon report for the quarter?** Amazon came under pressure after a weaker-than-hoped holiday-quarter sales forecast and a warning on soaring capital spending, even as AWS cloud growth stayed strong. The slide added to the day's AI-spending anxiety across tech. **Why did AI-Debt Jitters rise?** The cost of protecting against defaults on debt tied to Big Tech's AI borrowing boom jumped to fresh highs on worries about ballooning supply and thinning profits, a sign credit markets are turning wary of the AI capex spree. **What did Binance Confirms $6.3 Billion Hack announce on October 30, 2026?** Binance halted withdrawals after confirming a record $6.3bn crypto theft and said it plans to cover customer losses. The breach rattled digital-asset markets, with Bitcoin down about 5% and prediction market Polymarket also halting trading. **What did Plunging Search Traffic Hammers Reddit's Stock announce on October 30, 2026?** Reddit shares plunged roughly 28% following its third-quarter results as a sharp drop in search-referral traffic — a major driver of its user growth — alarmed investors already worried that AI-driven changes to Google search are throttling referrals to the platform. --- ## More from Daily Fintech News - Previous brief: [October 29, 2026 — Alphabet Shares Plunge ~13% in Worst Day Ever After Q3 Earnings Disappoint](https://dailyfintechnews.com/brief/fintech/2026-10-29) - Next brief: [October 31, 2026 — SoftBank-Backed OPay Halts NYSE IPO to Respond to Regulatory Inquiry](https://dailyfintechnews.com/brief/fintech/2026-10-31) - Also covers Amazon, Anthropic, Apple Inc.: [September 8, 2026 — Palantir names Nebius its preferred sovereign AI infrastructure partner](https://dailyfintechnews.com/brief/fintech/2026-09-08) - Also covers Amazon, Anthropic, Apple Inc.: [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 Amazon, Anthropic, Apple Inc.: [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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