Crypto Selloff Erases $213 Billion as Bitcoin Falls Below $64,000
Crypto lost about $213 billion over 24 hours as Bitcoin fell below $64,000, Solana dropped nearly 12% and leveraged long positions took heavy losses.
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Meta Tests Takes Prediction App With Employees
Meta is testing Takes internally, using virtual “cred” points for predictions rather than cash wagers, the Wall Street Journal reports.
Mystery Nvidia Options Trade Shows $196 Million Estimated Gain
An unidentified trader’s Nvidia put position shows an estimated $196 million gain on about $8 million in net premiums, with substantial risk in the options sold.
US PPI Rises 0.3% as Annual Producer Inflation Hits 6.5%
October producer prices rose less than forecast, but annual inflation accelerated to 6.5%. September’s monthly increase was revised up to 1.4%.
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SpaceX Plans $74 Billion AI Buildout in Texas and Arizona
SpaceX plans more than $74 billion in AI campuses in Texas and Arizona, with dedicated power generation at Starbase and a 2027 construction target in Cochise...
Nvidia Employees Push to Bring Jensen Huang Back
An internal Nvidia post has drawn more than 1,600 comments, mostly supporting Jensen Huang’s return, according to correspondence reviewed by Wired.
Fed Sets Seven Rate-Setting Meetings for 2027
The FOMC will still gather eight times, but October is reserved for strategy and the final scheduled rate decision moves from December to November 17.
Cerebras Stock Jumps 17% After Revenue Beat and Microsoft Deal
Cerebras shares jumped 17% in Thursday’s extended trading as core revenue beat estimates, the fourth-quarter outlook strengthened and Microsoft joined its customer list.
ByteDance Plans $6 Billion Buyback at $400 Billion Valuation
ByteDance plans a $6 billion share buyback at a $400 billion valuation while seeking more time before an IPO or a broader shareholder exit.
Cisco Beats Earnings Estimates, Raises AI Revenue Forecast to $9 Billion
Cisco reports $18.5 billion in quarterly sales, tops profit estimates and raises its full-year outlook as demand for AI networking equipment accelerates.
Kalshi Seeks $65 Billion Valuation in New Funding Talks
Kalshi is discussing new funding at a potential $65 billion valuation, 62.5% above its recent $40 billion round, as it expands its exchange business.
AMD’s Lisa Su Named Yahoo Finance’s CEO of the Year
Lisa Su wins Yahoo Finance’s CEO of the Year award on the day Nvidia announces Jensen Huang’s exit. The chip-industry rivals are also relatives.
Jensen Huang to Forfeit $108 Million in Nvidia Stock Awards
Jensen Huang is set to forfeit about $108 million in unvested Nvidia awards after his CEO exit, roughly 0.07% of his pre-announcement fortune.