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Microsoft rejects multibillion-dollar AI deal with UK's Nscale — Daily Fintech News, November 5, 2026

Friday, November 6, 2026 · 1:25 AM ET

AI · FT

1.Microsoft rejects multibillion-dollar AI deal with UK's Nscale

Microsoft turned down an option to more than double its Texas data-centre contract with UK AI-cloud start-up Nscale, a fresh blow ahead of Nscale's planned IPO.

$MSFT
$MSFT Close$535.93-3.30% Live$530.31-1.05%
1Y +7.9% Rev QoQ +18.8% EPS QoQ +32.3% 52wk $349.2–$559.15 P/E 28.0 Mkt Cap $3.98T

Markets · WSJ

2.Tech-led rout wipes out record market value as AI-spending fears grip Wall Street

The Nasdaq-100 plunged about 6.4% and the S&P 500 fell 4.4% in the biggest one-day market-cap losses on record, as a Democratic midterm sweep stoked fears Washington will move to slow the AI data-center buildout.

Chips · WSJ

3.Memory and chip stocks crater on AI data-center and regulation fears

Semiconductor names led the selloff, with SanDisk down about 22%, Micron and Western Digital off roughly 17% and AMD down about 17%, as investors fled AI-hardware winners on fears a Democratic Congress will tighten data-center rules and slow AI capital spending.

$SNDK$MU$WDC$AMD
$SNDK Close$806.43-21.67% Live$842.64+4.49%
1Y +236.7% Rev QoQ +377.9% EPS QoQ — 52wk $183.0–$2354.39 P/E 6.5 Mkt Cap $114.75B

AI · WSJ

4.Big investors doubt Anthropic can hit $1.5 trillion IPO valuation

Major investors are skeptical the AI lab can reach a $1.5 trillion valuation in a planned IPO, though some say strong October financial results could lessen the blow from the market rout.

Earnings · WSJ

5.AppLovin soars about 31%, the S&P 500's biggest gainer on a brutal day

AppLovin jumped roughly 31% to lead the S&P 500 even as the broader market cratered, a standout move after its latest results.

$APP
$APP Close$356.10+7.91% Live$349.60-1.83%
1Y -42.6% Rev QoQ +52.8% EPS QoQ +57.3% 52wk $225.19–$738.01 P/E 27.4 Mkt Cap $119.63B

AI · The Information

6.Nvidia's answer to the data-center backlash: retrofit Apollo's old telecom buildings

Facing mounting local opposition to new data centers, Nvidia is exploring retrofitting old telephone and telecom buildings for AI, and has approached Apollo about a network of smaller AI data centers potentially spanning 20 states.

$NVDA
$NVDA Close$181.60-9.72% Live$184.57+1.64%
1Y -3.5% Rev QoQ +105.9% EPS QoQ +127.8% 52wk $164.27–$243.37 P/E 23.0 Mkt Cap $4.39T

AI · Bloomberg

7.Google plans to spend $17 billion on a Wyoming data center

Google plans to invest about $17 billion in a new Wyoming data center, pressing ahead with its aggressive AI-infrastructure buildout even as some rivals signal caution on data-center spending.

$GOOGL
$GOOGL Close$282.57-2.93% Live$282.21-0.13%
1Y +1.3% Rev QoQ +24.7% EPS QoQ -26.1% 52wk $270.7–$408.61 P/E 14.7 Mkt Cap $3.47T

Earnings · Bloomberg

8.Airbnb posts 19% revenue jump as Chesky hails 'growth mode'

Airbnb reported a 19% rise in third-quarter revenue and CEO Brian Chesky said the company is back in 'growth mode,' though the stock has been caught in the broader tech selloff.

$ABNB
$ABNB Close$170.13-3.48% Live$189.14+11.17%
1Y +40.7% Rev QoQ +16.5% EPS QoQ +33.0% 52wk $110.81–$193.45 P/E 38.7 Mkt Cap $100.31B

Earnings · Bloomberg

9.Atlassian shares slide about 20% after revenue outlook disappoints

Shares of the Australian software maker fell roughly 20% after its quarterly revenue forecast failed to excite investors worried about AI-related spending and slowing growth.

$TEAM
$TEAM Close$183.29-1.77% Live$153.76-16.11%
1Y +16.1% Rev QoQ +27.6% EPS QoQ — 52wk $56.01–$229.96 P/E — Mkt Cap $46.40B

Earnings · Bloomberg

10.JFrog hikes outlook as AI-armed hackers spur security demand

Digital security provider JFrog predicted its fastest revenue growth in four years, saying AI is giving hackers more sophisticated ways to probe corporate defenses and driving demand for its software.

$FROG
$FROG Close$74.62-13.13% Live$90.05+20.68%
1Y +24.4% Rev QoQ +28.7% EPS QoQ — 52wk $34.05–$105.76 P/E — Mkt Cap $9.20B

Deals · WSJ

11.China blocks $5.4 billion SoftBank–ABB robotics deal, flexing control over AI tech

Beijing blocked SoftBank's $5.4 billion acquisition of ABB's robotics unit, moving to keep data and expertise developed at home from leaking abroad as it tightens control over AI-related technology.

AI · WSJ

12.Nvidia-backed Cohere says IPO timing uncertain despite surging revenue

Cohere CEO Aidan Gomez said the AI startup's path to an IPO depends on market conditions and its own readiness, even as revenue surges and the company draws fresh backing.

Deals · The Information

13.Cyera raising about $800 million at a $20 billion valuation as cybersecurity funding stays hot

Cloud-security startup Cyera is planning to raise roughly $800 million in a round led by Cyberstarts that would value it at $20 billion, underscoring investor appetite for firms defending against AI-powered cyber threats.

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