UPI Processes 24.07 Billion Transactions in September as India Opens ₹169-Crore RBI Data Centre
- UPI crosses 24 billion monthly transactions: India’s Unified Payments Interface processed 24.07 billion transactions in September, up 22.6% year-on-year, according to NPCI data.
- Daily transactions hit a record: UPI’s daily transaction volume reached a record 802 million, highlighting the continued expansion of digital payments.
- Sitharaman highlights global leadership: Finance Minister Nirmala Sitharaman said UPI handles more than 2,400 crore transactions monthly and described it as the world’s largest real-time payment system, ANI reported.
- RBI opens ₹169-crore data centre: Prime Minister Narendra Modi inaugurated the Reserve Bank of India’s new data centre in Bhubaneswar. Sitharaman described it as “the vault of the digital age.”
- Massive growth since 2016–17: Sitharaman said UPI’s annual transaction volume has grown approximately 13,000 times since 2016–17.
- Financial inclusion expands: She said digital payments are helping bring financial products, including credit and insurance, within reach of first-time users.
France’s Bond Sell-Off Puts ECB Leadership Race in Focus as 10-Year Yield Tops 5%
- Crisis management becomes key issue: Bloomberg reported that the race to succeed European Central Bank (ECB) President Christine Lagarde is increasingly centred on candidates’ ability to handle financial market turmoil.
- French borrowing costs surge: France’s 10-year government bond yield exceeded 5% on October 21, its highest level since 2002, amid political instability, a fractured parliament and budget disputes.
- Two leading contenders emerge: A Bloomberg survey found that nine economists backed former Dutch central bank chief Klaas Knot, while 12 favoured Bank for International Settlements chief Pablo Hernández de Cos.
- Bond-market volatility raises stakes: France’s debt concerns and renewed pressure from bond investors are making crisis-response capabilities a central consideration for eurozone policymakers.
- Lagarde succession draws scrutiny: With Lagarde nearing the end of her tenure, governments are assessing which candidate could best manage potential financial instability across the eurozone.
Trump Weighs Iran Deal Against Total Destruction, Says US Is Monitoring Nuclear Facilities
- Trump raises stark choice: US President Donald Trump said the question was whether to reach a deal with Iran or “wipe them out completely,” escalating his rhetoric amid tensions with Tehran.
- Nuclear facilities under scrutiny: Trump said Iran had not taken any significant steps at its nuclear facilities and that Washington was monitoring the situation closely.
- US claims intelligence awareness: Trump said the US was fully aware of what happened at Iran’s “Pickaxe Mountain” facility.
- Trump asserts US advantage: He declared, “We get everything, and they get nothing,” without providing further details in the reported remarks.
- US President Donald Trump dismissed the idea of striking Iran today. He said, "The answer is no. There will not be a strike today."
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🔴 Breaking
Qatar Sends Mediators to Tehran as Iran Warns New US-Israeli Strikes Will Not Change Its Policy
- Qatari mediation effort begins: Qatari mediators arrived in Tehran on Sunday to help de-escalate regional tensions, with the initiative coordinated with the United States, an official familiar with the matter said.
- Iran rejects policy change: Iranian Foreign Minister Abbas Araqchi said Tehran’s position would remain unchanged even if another conflict erupted with the US and Israel.
- Trump leaves military action on the table: US President Donald Trump said on Friday that Washington could launch another limited military operation, reportedly referred to as “Epic Fury.”
- Tehran warns against renewed attacks: Araqchi said Iran had faced military action twice before and warned that another attempt would not produce a different outcome.
- Iran prepares for possible conflict: Araqchi said he was already considering the post-war situation, while maintaining that Iran’s policy would not change whether or not a new war begins.
PHP2Shell Security Crisis: Palo Alto Confirms Product Exposure as Emergency Fixes Begin October 26
- Palo Alto Networks confirms exposure: On October 24, the company confirmed that PAN-OS and other network products are affected by the PHP2Shell vulnerabilities. Hotfixes are scheduled to begin shipping on October 26.
- Critical PHP flaws trigger emergency fixes: The PHP project released emergency patches on October 21 for two remote code execution vulnerabilities that could allow attackers to execute malicious code on vulnerable servers.
- AI-assisted discovery reported: AFP reported that cybersecurity firm Calif discovered the flaws using OpenAI’s GPT-5.6 Sol model.
- NSA urges urgent action: The US National Security Agency advised organisations to take unpatched systems offline, highlighting the severity of the threat.
- Government and banking sites affected: Thousands of government and banking websites in Nepal reportedly went offline as a precaution while organisations worked to address the vulnerabilities.
AI-Driven Memory Price Surge Hits PC Market: Global Shipments Fall 21% in Q3 2026
- Global PC shipments decline sharply: Preliminary data from Counterpoint Research shows worldwide PC shipments fell 21% year-on-year to 57 million units in Q3 2026, down 13.8% from the previous quarter.
- Memory costs squeeze demand: Rising memory prices, driven by AI-related demand, are increasing component costs and discouraging PC purchases.
- Consumers delay upgrades: Buyers are postponing purchases despite the need to replace ageing computers and migrate to newer Windows versions.
- Lenovo retains market leadership: Lenovo shipped 15 million units, down 23% year-on-year, but maintained a 26.3% market share.
- HP and Dell record steep declines: HP shipments fell 31% to 10.3 million units, giving it an 18.1% share. Dell shipments declined 25% to 7.6 million units, with a 13.3% share.
- Further weakness expected: PC shipments are forecast to fall 27% year-on-year in Q4 2026, while full-year shipments in 2027 are projected to remain broadly flat compared with 2026.
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Yemen Conflict Escalation Hits Saudi and Egyptian Stock Markets; Indices Fall Over 2.5%
- Saudi stocks suffer sharp decline: Saudi Arabia’s benchmark TASI index fell 2.6% on Sunday, its worst intraday performance since April 2025, amid escalating tensions with Yemen’s Houthi rebels.
- Missile and drone interceptions: The Saudi-led coalition said it intercepted multiple drones and missiles over Riyadh and southern Saudi Arabia.
- Saudi Aramco shares drop: Oil giant Saudi Aramco fell 1.1% as selling pressure spread across the Saudi market.
- Egyptian stocks also slide: Egypt’s blue-chip EGX30 index plunged 2.5%, approaching its lowest level in around seven months. All constituent stocks declined.
- Egypt weighs potential military support: Egypt’s parliament is expected to vote on October 26 on authorising the armed forces to support Saudi Arabia against the Houthis if Riyadh formally requests assistance.
Iran Warns New US-Israeli Strikes Will Not Change Tehran’s Policy; Reports Drone Attack in Iraqi Kurdistan
- Iran rejects pressure from further strikes: Iranian Foreign Minister Abbas Araqchi said Tehran’s policy would not change even if a new conflict broke out with the US and Israel.
- Tehran prepares for possible conflict: Araqchi said he was already considering the post-war situation, adding that previous military confrontations had not changed Iran’s position.
- Trump leaves military action open: US President Donald Trump reportedly said on Friday that Washington could launch another limited military operation, referred to as “Epic Fury.”
- Iran reportedly strikes Kurdish opposition group: Iran’s Mehr News Agency reported that Iranian Revolutionary Guard ground forces used drones to attack the headquarters of the Komala group in the Balisan region of Iraqi Kurdistan.
- Tehran’s stated justification: The Iranian agency described Komala as a “terrorist and separatist organization.” The claim and characterisation were reported by Iranian state-linked media.
Goldman Sachs Cuts South Korea’s KOSPI Target by 25% to 9,000, Sees Over 60% Upside
- Target slashed: Goldman Sachs strategists led by Timothy Mo have cut their 12-month KOSPI index target from 12,000 to 9,000 points, a 25% reduction.
- AI trade concerns intensify: The downgrade follows growing market worries over AI-related investments and trades, prompting a more cautious valuation outlook.
- Index falls over 35%: The South Korean benchmark has dropped more than 35% from its June peak, according to the report.
- Goldman still sees substantial upside: Despite lowering its target, the bank believes the recent sell-off has left South Korean equities significantly undervalued.
- More than 60% potential gain: Goldman’s revised target still implies over 60% upside from the index level cited in its analysis.
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AI Boom Faces a Reality Check: No Clear Financial Payoff Outside Big Tech
- AI returns remain concentrated: Despite massive investments and widespread hype, a new analysis argues there is still no clear evidence that AI is delivering meaningful financial gains across corporate America outside the technology sector, per Thorsten Slok, chief economist at Apollo Global Management.
- Big Tech outperforms the rest: Revenue per employee and profit margins are reportedly rising for the “Magnificent Seven” tech giants, while remaining largely flat for the other 493 companies in the S&P 500.
- Productivity gains remain elusive: The analysis finds no clear evidence that AI has yet accelerated broader productivity growth.
- Corporate spending faces scrutiny: Companies outside the tech sector are increasingly treating AI token spending as a cost rather than a proven driver of revenue growth and profitability.
- Cheaper AI may not guarantee better results: Even as AI models become more affordable, businesses must translate their capabilities into higher revenues and margins. The analysis highlights challenges involving human judgment, accountability, trust, workplace culture and ethical decisions.
- The broader economy is the real test: Venture-backed companies may continue spending heavily on AI, but widespread economic benefits will depend on adoption and measurable returns across mainstream industries.
Trump Says US Could Strike Iran “At Any Time,” Attacks Obama Ahead of Midterm Elections
- Iran strike warning: President Donald Trump said on October 24 that the US could take military action against Iran “at any time,” while adding that a deal could still be reached.
- Calls for a permanent nuclear agreement: Trump argued that Iran could eventually develop a nuclear weapon, saying a lasting agreement was necessary. He also referenced the potential use of B-2 bombers, while declining to disclose US military plans.
- Attacks Obama’s foreign policy: Trump called former President Barack Obama “extremely incompetent,” accusing his administration of making foreign-policy mistakes and giving Iran billions of dollars.
- Targets Obama’s electoral record: Trump criticised Obama for supporting Hillary Clinton and Kamala Harris, both of whom lost their presidential elections, and predicted another defeat for a candidate Obama is reportedly backing.
- Makes further political allegations: Trump attacked another candidate in inflammatory terms and mocked Obama personally in his social media post.
- Promotes his Michigan record: Trump claimed he had won Michigan decisively, revived the auto industry, supported air force bases and created more jobs.
- Endorses Mike Rogers: Trump urged Michigan voters to support Republican Senate candidate Mike Rogers, saying he would “never let you down.”
Iran Says Interim Deal With US Should Still Be Pursued as Washington Vows to Maintain Naval Blockade
- Pezeshkian criticises Washington: Iranian President Masoud Pezeshkian accused the US of derailing an interim agreement but said Tehran should still pursue a deal, Reuters reported.
- Iranian economic hardship deepens: Pezeshkian said many Iranians are struggling to afford food amid a prolonged “neither war nor peace” standoff with Washington.
- Earlier agreement collapsed: A deal signed by US President Donald Trump and Pezeshkian in June reportedly fell apart within weeks amid renewed fighting and disagreements over the Strait of Hormuz, according to The Washington Post.
- US vows to sustain blockade: US Ambassador to the United Nations Mike Waltz told the Financial Times that the US Navy could maintain its blockade of Iranian ports for the “foreseeable future.”
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Goldman Warns of Crude Supply Shock Risk as Brent Hits Six-Month High
- Refiners rush to secure crude: Goldman Sachs commodities research co-head Daan Struyven said refiners are buying crude because they see a “high probability of a sharp drop in supply,” amid already-low inventories.
- Brent climbs to its highest since April: Brent crude closed Friday at its highest level since April 29, CNBC reported, following Houthi strikes on Saudi targets, including a Saudi Aramco facility.
- Goldman maintains $90 forecast: The bank is retaining its December Brent price forecast of $90 per barrel but says risks are “clearly skewed to the upside.”
- Supply concerns persist despite flow recovery: Regional oil flows have recovered, but intensifying attacks on Saudi Arabia are raising concerns about potential supply disruptions.
- Risk premium could ease: Goldman says the additional risk premium in oil prices could decline if the conflict does not escalate after the US midterm elections.
S&P Dow Jones Indices Changes Growth and Value Stock Rules, Affecting $375 Billion in Passive Funds
- Major index rule changes: S&P Dow Jones Indices is revising how stocks are classified as growth or value, according to CCTV Finance.
- New value-stock criteria: The revised methodology will incorporate intangible assets, expected earnings and free cash flow into the assessment of value stocks.
- 12-month momentum removed: The evaluation of growth stocks will no longer consider their share-price momentum over the previous 12 months.
- Effective December 21: The changes are scheduled to take effect before the US stock market opens on December 21, 2026.
- $375 billion in funds affected: Passive funds tracking the relevant indices may need to rebalance their portfolios to reflect the revised classifications.
- Potential shift in stock classifications: Researchers and fund managers argue that flaws in existing measurement methods may have contributed to the long-term underperformance of value stocks.
Trump Defends High Oil Prices, Claims Tariffs Made US Richer and Announces $4.2 Billion Audi Plant in Georgia
- Trump dismisses oil-price criticism: President Donald Trump said the US was “making a lot of money” from high oil prices and that he “doesn't care,” acknowledging that critics could accuse him of boasting while Americans suffer at the pump.
- Claims retirement accounts surged: At a rally in Perry, Georgia, Trump urged voters to check their 401(k) retirement accounts, claiming some had gained as much as 80%. He contrasted this with his claim that retirement savings fell around 25% under former President Joe Biden.
- Volkswagen announces $4.2 billion investment: Trump said Volkswagen Group will invest $4.2 billion to build an Audi assembly plant in Georgia, with projected annual production of approximately 200,000 vehicles.
- Trump credits tariffs for the deal: He described the investment as the largest single investment in the modern history of the US auto industry and claimed it “would not have happened without tariffs.” The statement reflects Trump's assessment of the policy's impact.
- Makes claims about Greenland and Venezuela: Trump said Denmark had “gave it to us” and claimed the US secured Greenland and Venezuela “at zero cost.” These remarks were carried by Sputnik.
- Greenland sovereignty remains with Denmark: Denmark has not transferred sovereignty over Greenland to the United States. A reported September agreement expanded US defence rights while reaffirming Danish sovereignty and Greenlanders' right to self-determination.
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Russia and Ukraine Report Fresh Strikes as Moscow Announces Local Kherson Ceasefire for October 27
- Russia reports strikes on Ukrainian infrastructure: The Russian Defence Ministry said its forces struck Ukrainian energy and transport facilities, long-range drone storage and launch sites, ports and vessels used by Ukrainian forces over the previous 24 hours.
- Russian interception claims: Moscow said its air defences shot down one French SCALP cruise missile, four long-range Neptune missiles and 1,297 fixed-wing drones.
- Ukraine reports 181 frontline engagements: Ukraine’s General Staff said 181 combat engagements occurred along the front over the previous day. Ukrainian forces reported striking Russian troop concentrations, equipment and drone command posts.
- Ukraine claims Russian equipment destroyed: Kyiv said its forces destroyed Russian tanks, armoured vehicles, artillery and air-defence systems, and shot down 1,855 Russian drones.
- Local ceasefire planned: Russian General Staff Chief Valery Gerasimov said Russian forces would observe a ceasefire in the Kherson direction from 4:00 a.m. Moscow time on October 27 to facilitate humanitarian operations in Oleshky.
- Impact on peace talks uncertain: Russian Foreign Ministry ambassador-at-large Rodion Miroshnik said it was difficult to determine whether the local truce would affect broader Ukraine negotiations, adding that political and military discussions could proceed separately.
Jio Platforms IPO: Grey Market Premium Signals 22.35% Listing Gain Ahead of October 28 Debut
- GMP at ₹250 per share: Jio Platforms shares are reportedly trading at a grey market premium (GMP) of ₹250 over the IPO’s upper price band of ₹1,119, implying an unofficial price of ₹1,369 per share.
- Potential listing gain of 22.35%: At the reported premium, investors who receive an allotment could see an indicative gain of around 22.35%.
- ₹3,000 potential gain per lot: Assuming a lot size of 12 shares, the implied gain would be approximately ₹3,000 per lot.
- Record-breaking IPO: The ₹30,213-crore issue closed on October 23 with subscriptions reaching 22.19 times the shares on offer, making it India’s largest IPO by issue size, surpassing Hyundai Motor India’s ₹27,870-crore offering in 2024.
- Listing expected October 28: Investors are awaiting finalisation of the allotment, credit of shares to demat accounts and the expected BSE and NSE debut.
Jio Platforms IPO Attracts Over $77 Billion in Bids, Breaks 2008 Reliance Power Record
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IMF Raises India’s FY27 Growth Forecast to 7%, but Warns Multiple Shocks Could Hurt Outlook
- Growth forecast upgraded: The IMF raised India’s FY27 growth forecast to 7% from 6.4% in July, citing resilient domestic demand and strong services activity.
- Multiple risks converge: Krishna Srinivasan, head of the IMF’s Asia and Pacific Department, warned that several simultaneous shocks could significantly weaken India’s growth prospects.
- Energy and currency pressures: Higher energy prices and rupee-related pressures could weigh on the economy by increasing import costs and affecting financial conditions.
- AI and El Niño risks: Srinivasan also highlighted potential disruptions from artificial intelligence and El Niño-related weather conditions as risks to India’s economic outlook.
- Reforms urged: He called for land, labour and trade reforms to support sustainable long-term growth and attract foreign investment.
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Finance Ministry Official Warns Many Brokers May Not Survive Another Decade as AI Reshapes Markets
- Brokerage industry faces disruption: Alok Tiwari, Joint Secretary in the Department of Economic Affairs (DEA), warned at the ANMI convention in Mumbai that many brokers may not survive the next decade amid AI-driven changes.
- Family-run firms urged to adapt: Tiwari questioned the long-term sustainability of multigenerational family businesses and urged smaller brokerage firms to professionalise their operations and consider consolidation.
- Shift to structural trust: He called for a move away from reputation and historical track records towards “structural trust” built on robust audits, systems and transparent processes.
- NSE flags AI cyber risks: NSE CEO Ashishkumar Chauhan warned of AI-driven cyberattacks and said the exchange is reviewing its network for vulnerabilities.
- Technology reshapes financial services: The remarks highlight growing pressure on brokerage firms and market infrastructure providers to strengthen governance, cybersecurity and operational resilience.
US Senate Race Tightens Ahead of November 3 Midterms as Republicans Defend Key Seats
- Republican advantage narrows: Republicans entered the 2026 midterm cycle viewing the Senate map as favourable, but recent polling and early-voting trends suggest Democrats are gaining momentum.
- Trump campaigns in GOP strongholds: President Donald Trump is campaigning in South Carolina, Mississippi and other Republican-leaning states, while GOP groups are directing substantial funding toward contests in deep-red states, including Texas.
- Key Senate battlegrounds: Republicans are focusing on Iowa, Ohio and Alaska as critical seats to defend, despite Trump having won those states by double-digit margins in 2024.
- Resources concentrated: Republican operatives have reportedly scaled back efforts in Georgia and North Carolina as the party concentrates resources on its remaining priorities.
- Democrats need four seats: Democrats require a net gain of four Senate seats to secure control of the chamber.
- Possible Democratic gains: Democratic strategist David Axelrod said a strong national wave could put Democrats at 53–54 seats, while a weaker wave could leave them short of 51.
Crypto Market Sell-Off Intensifies as $200 Million in Long Positions Are Liquidated in 60 Minutes
- Bitcoin falls below $80,000: BTC faces renewed selling pressure as the broader crypto market declines.
- Ethereum drops below $2,350: ETH slips below the key price level amid the sell-off.
- XRP falls below $1.30: XRP extends losses, trading below the $1.30 mark.
- Solana drops below $100: SOL falls beneath the psychologically important $100 level.
- Massive liquidations: More than $200 million in leveraged crypto long positions were reportedly liquidated over the past 60 minutes.
- Major cryptocurrencies under pressure: The provided snapshot shows Bitcoin down 0.8% and Ethereum down 1.1% over the past hour, while XRP fell 1.0% and BNB declined 0.5%.
Yemen Escalation: Houthis Report 8 Killed in Cement Factory Strike as Missile Attacks Target Saudi Arabia and Aden
- Cement factory strike: Yemen’s Houthi health ministry said a Saudi-led coalition airstrike on a cement factory in Hamdan, northwest of Sanaa, killed 8 people and wounded 10, most of them women and children. The coalition had not responded to the claim.
- Missile intercepted near Riyadh: Saudi-led coalition spokesman Turki al-Maliki said coalition forces intercepted and destroyed a ballistic missile launched by the Houthis toward Riyadh.
- Civilian deaths in Hodeidah: Saudi state television reported that a failed Houthi missile launch ended with the missile hitting a civilian house in al-Tuhayta district, killing 5 civilians, including children.
- Attack reported in Aden: A Yemeni security official said the southern port city of Aden was hit by a missile attack on October 24, with loud explosions reported.
- Conflicting accounts: The reports highlight escalating exchanges between the Houthis and Saudi-led forces, while details surrounding the separate incidents remain subject to verification.
🔴 Breaking
US Warships Prepare for Possible New Iran Strikes; Netanyahu Warns Palestinian Authority of ‘Big Surprise’
- US military on standby: The Wall Street Journal, citing US officials familiar with the plans, reported that American warships stationed in the Middle East are preparing for a potential escalation. The vessels could be ready to act if President Donald Trump orders fresh strikes on Iran in the coming weeks.
- Netanyahu issues warning to PA: Israeli Prime Minister Benjamin Netanyahu said the Palestinian Authority would face a “big surprise” after he ordered a large-scale military operation in the occupied West Bank following an attack on Israeli soldiers.
- Israeli forces started operations in Hebron on the 23rd. They evicted about 1,500 Palestinians and ordered 2,500 more to leave. The governor said over 200 families were displaced. The military demolished homes and shops, sealed roads, and blocked entry and exit. The IDF said it would conduct precise searches to destroy terrorist facilities and weapons.
- Opposition to Palestinian statehood: Ahead of legislative elections, Netanyahu identified preventing the establishment of a Palestinian state as a campaign objective. He did not explicitly say whether he intends to dissolve the Palestinian Authority.
- Secret measures hinted at: Netanyahu said he would pursue steps to eliminate the perceived threat, adding that some measures were “best kept secret.”
- Abraham Accords expansion: Netanyahu said Israel could extend the Abraham Accords to additional countries without making diplomatic recognition conditional on the creation of a Palestinian state.
- Iran seeks interim agreement: Iranian state television reported that President Masoud Pezeshkian blamed the United States for the breakdown of an interim agreement but said he still wanted to conclude the deal.
El Niño Strengthens Rapidly; Berkeley Earth Puts Odds of 2026 Becoming Warmest Year at 96%
- Record-warm year increasingly likely: Berkeley Earth’s latest monthly update puts the probability that 2026 narrowly surpasses 2024 as the warmest year on record at approximately 96%, up from 93% in August.
- El Niño intensifies: The research nonprofit says El Niño is strengthening rapidly, with the event potentially reaching unprecedented intensity.
- 2027 could set another record: Because global temperatures respond to El Niño with a delay, Berkeley Earth expects 2027 to set a new temperature high regardless of whether 2026 finishes first or second.
- NOAA signals a powerful event: NOAA’s Climate Prediction Center puts the probability of a strong to very strong El Niño persisting through January–March 2027 at more than 83%.
- NASA maps reveal similar patterns: Sea-level maps comparing 2026 with the 1997 El Niño show similar warm-water patterns. NASA’s Josh Willis said the current event is “on track to be even bigger.”
- US winter impacts remain uncertain: NOAA’s Geophysical Fluid Dynamics Laboratory warns that US impacts could intensify through winter, even as El Niño peaks. Scientists caution that regional consequences remain difficult to predict.
Jio Platforms IPO Attracts Over $77 Billion in Bids, Breaks 2008 Reliance Power Record
- Record-breaking demand: Jio Platforms’ ₹30,213 crore IPO closed on Friday with bids exceeding $77 billion, surpassing the previous record set by Reliance Power in 2008, Reuters reported.
- Issue subscribed 22.19 times: The IPO received total subscriptions of 22.19 times the shares on offer, led by strong institutional demand.
- Institutional bidding surges: Qualified institutional buyers subscribed to their allocated portion 70.55 times, according to BW Marketing World.
- Applications approach 1.39 crore: The number of applications reportedly neared 1.39 crore, potentially setting a global record, ETTelecom reported.
- Allotment and listing: Share allotment is expected around Monday, October 26, with listing on the BSE and NSE scheduled around Wednesday, October 28.
Amazon CEO Says AWS Cloud Capacity Is Largely Sold Out Through 2027 as AI Demand Surges
- Capacity booked years ahead: Amazon CEO Andy Jassy said AWS capacity is largely sold out through 2027, with significant customer commitments already in place for 2028.
- 2026 capacity fully booked: Jassy said AWS has already sold out its available capacity for 2026, highlighting the gap between demand and infrastructure expansion.
- AWS revenue jumps 36.7%: Amazon Web Services generated $42.2 billion in revenue in the second quarter, up 36.7% year-on-year, driven by core cloud and AI services.
- AI demand outpaces supply: Speaking on an Andreessen Horowitz podcast, Jassy said demand from AI laboratories and enterprise customers is growing faster than Amazon can add cloud capacity.
- Infrastructure race intensifies: The strong booking pipeline underscores the pressure on cloud providers to expand data centres, computing capacity and supporting infrastructure.
Nvidia RTX 5090 Prices Surge to 60,000 Yuan in China as Supply-Halt Rumours Shake Graphics Card Market
- Supply rumours trigger volatility: Reports that Nvidia may discontinue certain consumer graphics cards have unsettled Huaqiangbei, Shenzhen’s major electronics market, with prices reportedly changing daily.
- RTX 5090 nearly quadruples: The high-end RTX 5090, initially priced at around 15,000–16,000 yuan, is now reportedly selling through distribution channels for 55,000–60,000 yuan.
- RTX 5080 more than doubles: The RTX 5080, initially priced at around 8,000 yuan, has reportedly climbed to approximately 17,000 yuan.
- Sharp short-term increases: A Huaqiangbei computer retailer told the 21st Century Business Herald that the RTX 5080’s channel price rose by 4,000–5,000 yuan in roughly half a month, while the RTX 5090 jumped from around 30,000 yuan to the 50,000-yuan range.
- Supply uncertainty drives the market: Traders say rumours surrounding RTX 5090 availability have fuelled sudden price increases, although the reported production halt has not been confirmed in the information provided.
FBI Urges Immediate Patching of Critical PHP Flaws as Exploit Attempts Surge Worldwide
- FBI issues warning: The FBI issued a public service announcement on Friday urging organisations to immediately patch two critical vulnerabilities in PHP core that could allow remote code execution.
- Unauthenticated attacks possible: The flaws, known as PHP2Shell, reportedly allow attackers to execute code on vulnerable servers without logging in.
- Millions of exploit attempts: Cloudflare recorded millions of attempted exploits after technical details of the vulnerabilities leaked, according to TIME.
- AI agent reportedly discovered flaw: An AI agent belonging to a researcher at cybersecurity firm Wiz identified the decade-old vulnerability, according to reports.
- Government websites disrupted: Websites in the UK, Finland and Japan experienced outages, the Associated Press reported. Broome County in New York also took its website offline on Friday as a precaution.
- Organisations urged to act: The surge in exploitation attempts has heightened concerns about exposed servers and the risk of attackers gaining control of vulnerable systems.
Nvidia CEO’s Demo Sends $399 Microduck Robot Preorders Past 20,000; Hugging Face Plans Hiring Push
- Preorders surpass 20,000: The Microduck open-source robot crossed 20,000 preorders after Nvidia CEO Jensen Huang demonstrated four units during his GTC Berlin keynote, TechCrunch reported.
- Affordable robotics product: Pollen Robotics, owned by Hugging Face, developed the robot, which is priced at $399.
- Hiring plans expand: Hugging Face CEO Clément Delangue said demand means the company will need to hire across “all functions.”
- 2026 bestseller claim: Delangue suggested Microduck could become the best-selling robot of 2026, according to GIGAZINE.
- Nvidia deal in focus: The report also cited Nvidia’s September agreement to acquire Hugging Face for $12.9 billion.
US Warns Iran Threat at Highest Level Since War Began; Strait of Hormuz Sees Record October Ship Attacks
- Threat level rises: US intelligence assesses that Iranian plots targeting Americans are at an advanced stage, with threats to US personnel in the Middle East and several other countries at their highest level since the war began in February.
- Embassy security tightened: The State Department has urged employees to increase vigilance and begun reducing staffing at some US embassies and consulates. An intelligence memo warning of risks to diplomatic personnel was sent to Secretary of State Marco Rubio, the administration confirmed.
- Potential overseas targets: Analysts reviewing recent intelligence reports say Iran may have deployed operatives in the United States and identified potential targets in Europe. Officials caution that Tehran’s ability to carry out attacks abroad appears limited relative to its suspected intentions.
- Record month for shipping attacks: A Washington-based maritime security think tank recorded 28 reported incidents involving commercial vessels in October in the Strait of Hormuz and adjacent waters, making it the worst month since tracking began in 2017.
- 113 incidents since February: The think tank has recorded 113 incidents since February 28, when US and Israeli hostilities against Iran began. International Maritime Organization data indicates approximately 120 related incidents across the Strait and wider Middle East.
- Oil tankers damaged: IMO and MarineTraffic records identify more than 30 damaged very large crude carriers (VLCCs), including 11 in October.