AU Small Finance Bank Investigates Suspected Salesforce Data Leak; Banking Systems Unaffected
- AU Small Finance Bank is investigating a potential data leak involving its Salesforce platform, which handles information related to customers of its vehicle finance business.
- The cybersecurity group ScarlettGroup has claimed it accessed the bank's data and threatened to leak it. The group's allegations have not been independently verified.
- The hackers reportedly claim to have obtained sensitive information, including KYC records, PAN and Aadhaar details, credit reports, bank statements, loan applications and signed agreements.
- The group has also alleged access to insurance records, CRM data, employee information and internal audit logs. The bank has not confirmed these specific data categories were leaked.
- The bank said the suspected incident involves limited vehicle finance customer data on Salesforce's externally managed and hosted software-as-a-service platform.
- AU Small Finance Bank stated that its internal banking systems have not been affected and all banking services are operating normally.
- Reuters reported that the bank has not disclosed the full scope of the potential exposure or the specific information involved. The investigation is ongoing.
Piyush Goyal Says India's 2019 RCEP Exit Saved Manufacturing; Defends Proposed US Trade Deal
- Commerce Minister Piyush Goyal said India's decision to stay out of the Regional Comprehensive Economic Partnership (RCEP) in 2019 saved the country's manufacturing sector from what he described as a "death knell".
- Speaking at the ISID-IDRA conference in New Delhi, Goyal credited Prime Minister Narendra Modi for the decision.
- He argued that joining RCEP would effectively have amounted to entering a free trade agreement with China, according to The Indian Express.
- Goyal also defended the proposed India-US trade agreement, saying it would protect India's sensitive sectors.
- He expressed confidence that Indians would welcome the agreement once its details are made public.
Jio Platforms Becomes India's Fourth-Largest Margin-Funded Stock as Retail Investors Borrow ₹2,228 Crore
- Indian retail investors borrowed ₹2,228 crore ($234.06 million) through margin trading to purchase Jio Platforms shares on Wednesday, making it the country's fourth-largest margin-funded stock.
- Jio Platforms shares surged 26.7% on their market debut, valuing the telecom and digital business at approximately $137 billion and making it India's second-largest listed company by market capitalisation.
- Jio was classified under Group 1 securities by the NSE and Group A by the BSE on listing day, making it eligible for margin trading facility (MTF) funding immediately.
- Only HDFC Bank, Reliance Industries and BSE Ltd had larger outstanding MTF positions, according to exchange data as of October 28.
- Margin trading interest rates in India typically range between 9% and 18% annually.
- Jio Platforms Becomes India’s Most Widely Held Stock With Nearly 80 Lakh Shareholders After Record IPO
Jio Platforms Becomes India’s Most Widely Held Stock With Nearly 80 Lakh Shareholders After Record IPO
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Government Defends IDBI Bank Sale Process; Second Bidding Round Adds ₹3,917 Crore
- The Finance Ministry said it followed due process in the IDBI Bank disinvestment process, defending the transaction amid questions over valuation.
- The second round of bidding added ₹3,917 crore to the deal value, while the reserve price remained unchanged.
- On October 14, the Cabinet Committee on Economic Affairs (CCEA) approved the sale of a 60.72% stake held by the Centre and LIC to a Fairfax group entity for approximately ₹52,878 crore.
- The transaction remains subject to regulatory scrutiny by the Reserve Bank of India (RBI), including clearance for Fairfax.
- The government and LIC will retain residual stakes in the bank, allowing them to benefit from potential future value appreciation, according to the ministry.
India's EV Demand Surges During Navratri; Chip Shortages Push Waiting Periods to Eight Months
- Electric vehicle retail sales rose 26.78% during Navratri, even as passenger vehicle registrations declined 21.9%.
- Federation of Automobile Dealers Associations (FADA) representative Sai Giridhar said dealers are struggling to keep pace with EV demand amid semiconductor shortages, with waiting periods reaching eight months.
- The decline in passenger vehicle registrations partly reflects a high comparison base following GST cuts in 2025.
- Hyundai Motor India said EVs now account for approximately 8% of its sales.
- Maruti Suzuki's pending customer orders have increased to around 2.7 lakh vehicles, highlighting broader supply and delivery pressures in the auto market.
Bank of Japan Holds Rates at 1.25%, Signals Inflation Has Reached 2% Target; Accelerates ETF Sales
- The Bank of Japan (BOJ) kept its short-term policy rate unchanged at 1.25%, as widely expected, in its October 30 meeting.
- The decision passed by an 8–1 vote, with one board member favouring a 25-basis-point hike to 1.50%.
- For the first time since adopting its 2% inflation target in 2013, the BOJ said underlying inflation was "generally in line with the 2% target".
- The central bank raised its inflation forecasts and signalled it remains prepared to increase borrowing costs further to contain inflation risks.
- The BOJ also announced faster sales of its ETF holdings, raising the annual pace on a book-value basis from approximately ¥330 billion to ¥860 billion.
- The yen strengthened following the decision, with USD/JPY falling around 0.24% to 157.34. Investors are watching Governor Kazuo Ueda's guidance for clues about a possible December rate hike and the eventual peak of the tightening cycle.
- The decision followed rate holds by the Federal Reserve and European Central Bank earlier this week. Japan's benchmark rate remains below those of other major G7 economies despite reaching a 31-year high.
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Binance Estimates $6.3 Billion Impact From Security Incident; Says $3 Billion in Assets Frozen
- Binance's initial investigation suggests the incident may have originated from a compromised DevOps engineer's laptop, allowing an attacker to access a service container and submit unauthorised withdrawal transactions.
- The exchange said it has found no evidence of any wallet private key leak. A detailed technical post-mortem will be published after the investigation is completed.
- Binance estimates the total financial impact at approximately $6.3 billion, with around $3 billion in affected assets frozen on-chain so far through cooperation with blockchain partners.
- The company said it will cover all losses using its SAFU fund and corporate funds, assuring users that their funds are safe.
- Deposits and withdrawals have been temporarily suspended as a precaution. Binance has also revoked the affected address authorisation.
- The exchange is working with law enforcement and blockchain intelligence partners to trace and recover assets and identify those responsible.
- Binance plans to publish an updated Proof of Reserves after completing the remediation process.
ANZ Raises Year-End Brent Crude Forecast to $105; Warns Oil Market Supply Balance Is More Fragile
- ANZ has raised its year-end Brent crude price forecast to $105 per barrel, from $95 previously, citing persistent supply and delivery constraints.
- Strategists Daniel Hines and Sony Kumari said the global oil supply-demand balance is more fragile than at the beginning of the Middle East conflict.
- Oil flows through the Strait of Hormuz have largely recovered, but actual transportation efficiency remains at around 60% of pre-conflict levels, limiting deliveries.
- Shipping constraints are making it difficult for the market to rebuild inventories, while strategic petroleum reserves have been depleted.
- Global crude oil spare capacity currently covers approximately 41 days of demand, down from around 45 days earlier this year.
- ANZ warned that any renewed escalation in the Middle East after the US midterm elections could push prices higher. Its $105 forecast assumes no further escalation, but that existing market constraints persist through year-end.
- Improved supply could also unlock demand previously suppressed by shortages, high freight costs and trade or refining bottlenecks.
BOJ Expected to Hold Rates at 1.25% in October; December Hike Remains Base Case for Most Strategists
- Sell-side consensus expects the Bank of Japan (BOJ) to keep its policy rate unchanged at 1.25% in October, with investors focused on its assessment of underlying inflation against the 2% target.
- Most major banks expect the next 25-basis-point rate hike in December 2026, although forecasts differ on the pace of tightening thereafter.
- Citigroup expects a December hike and sees the policy rate potentially reaching a terminal level near 2.0%.
- Goldman Sachs expects the BOJ to lower its FY2026 core CPI forecast but raise its FY2027 projection due to oil prices. It sees further hikes in January and July 2027.
- Bank of America expects a possible 8–1 vote, with one hawkish dissent, and projects rates reaching 1.75% in 2027. Wells Fargo also expects a December hike and a gradual move to 1.75%.
- ANZ forecasts 25bp hikes in December 2026 and March 2027, while Mitsubishi UFJ expects hikes in December 2026 and April 2027.
- Danske Bank also expects a December hike, while Brown Brothers Harriman sees the October hold as an opportunity to assess the impact of September's 25bp increase.
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Tech Sell-Off Drives Safe-Haven Demand; US Treasury Yields Fall Across the Curve
- US Treasuries rallied during Friday's Asian session as investors shifted towards government bonds amid a sell-off in technology stocks.
- Yields across US Treasury maturities fell by at least 3 basis points, extending declines recorded in New York.
- Bond markets across the Asia-Pacific region also strengthened, with 10-year yields in Australia, Japan and New Zealand dropping more than 5 basis points.
- Disappointing technology earnings, including Alphabet's results, intensified concerns about AI valuations and the sustainability of the AI investment boom.
- The US 10-year Treasury yield has fallen nearly 40 basis points in October, putting it on track for its first monthly decline since February.
- Strategists at NAB and Nomura said technology-sector valuation concerns and persistent uncertainty around AI spending could sustain demand for bonds.
Vance Reportedly Offers Direct Talks to Iran; Istanbul and Doha Considered as Possible Meeting Venues
- The Washington Post reported that US Vice President JD Vance sent a letter to Iran's hardline leadership offering an in-person meeting to discuss negotiations to end the war.
- A US official said the letter emphasised that both countries must prioritise their national interests in any negotiations.
- Vance reiterated Washington's central objective of preventing Iran from acquiring nuclear weapons, while describing Tehran's priorities as economic reconstruction, sanctions relief and preserving national sovereignty.
- The US reportedly wants Iran to send authorised representatives with the power to negotiate on nuclear issues.
- The outreach was directed at Mohsen Rezaei, whom the Trump administration reportedly views as an influential interlocutor capable of building consensus within Iran's leadership.
- US intelligence officials reportedly said Rezaei maintains regular contact with Mojtaba Khamenei. Istanbul and Doha have been mentioned as possible venues for a meeting.
Jensen Huang Says Nvidia Closely Tracked GPU Deployments at Singapore's Megaspeed Amid China Espionage Allegations
- Nvidia CEO Jensen Huang told Bloomberg on Thursday that the company's dealings with Singapore-based Megaspeed were "normal" and that Nvidia counted every GPU deployed there.
- The New York Times reported that US intelligence concluded former Megaspeed executive Alice Huang was a Chinese asset who had developed close ties with the Nvidia CEO.
- Nvidia rejected allegations that chips were diverted to China, with a spokesperson telling CNBC that the claims had been "investigated and debunked".
- China's embassy dismissed the US intelligence conclusions as "groundless smears".
- The allegations and the competing responses have brought renewed attention to controls over Nvidia's advanced chip distribution and potential diversion to China.
NYT: US Intelligence Allegedly Identified China-Linked Asset With Ties to Nvidia CEO Jensen Huang
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BCG Sees $100–200 Billion Net AI Opportunity for Tech Services by 2030, Despite Job Disruption Risks
- BCG's October 29 report estimates AI could create $300–400 billion in additional technology services work by 2030 while eliminating around $200 billion of existing work.
- Applied AI accounts for just 10–15% of AI-related staff at traditional tech services firms, compared with 90–95% at AI-native companies, highlighting a significant capability gap.
- BCG's Sreyssha George said India's share of the work potentially displaced by AI is equivalent to the output of around 4 million workers.
- However, this does not translate directly into four million job losses, as companies may redeploy and retrain employees.
- The report identifies agentic AI services as a major emerging opportunity, potentially creating a net $100–200 billion market for the technology services industry.
Binance Faces Potential $5.7 Billion Hack as Stablecoin Issuers Freeze Funds; Bitcoin Falls Below $77,000
- Binance suspended withdrawals on Thursday after billions of dollars reportedly drained from its hot wallets, while the exchange said $2.54 billion in assets had been frozen.
- Tether froze more than $1.5 billion in USDT, while Circle froze over $800 million in USDC in connection with the incident.
- Analysts cited by Axios estimate potential losses could reach $5.7 billion, which would make it the largest cryptocurrency theft on record if confirmed.
- Binance said customer funds are completely safe and pledged to cover all user losses.
- Former Binance CEO Changpeng Zhao said the incident appeared to be a hack, while investigations into its scale and cause continue.
- Bitcoin fell below $77,000, while Circle shares declined in after-hours trading amid concerns over the incident.
- Binance says a massive hack has impacted approximately $6.3 billion worth of cryptocurrency.
Amazon and Intel Results Intensify AI Spending Concerns; Tech and Chip Stocks Slide After-Hours
- Amazon shares fell around 7% and Intel plunged approximately 18% in after-hours trading following their earnings reports.
- The sell-off spread to AI cloud providers, with CoreWeave, Nebius and Iren each declining roughly 6–7%.
- Massive data-centre investments are turning previously low-debt technology companies into major borrowers.
- Alphabet and Meta reported net cash outflows in the September quarter, reflecting the growing financial burden of AI infrastructure spending.
- Microsoft, which has so far avoided burning through cash, launched a $25 billion bond offering on Thursday.
- Investors are increasingly concerned about smaller AI cloud companies taking on substantial debt to fulfil large order backlogs.
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Brent Crude Surges to $113 as Global Oil Inventories Hit Critical Levels; Vitol Warns of $200 Oil Risk
- Brent crude rose 2% to $113.32 per barrel, as concerns over critically low global oil inventories and prolonged Middle East supply disruptions intensified.
- Energy Intelligence reported on October 29 that global oil stocks have reached critical levels as the Middle East conflict enters its ninth month.
- The International Energy Agency (IEA) estimated that observed global inventories were 509 million barrels below pre-war levels at the end of September, with onshore stocks at their lowest since at least 2016.
- Energy Intelligence warned that rising oil prices despite slower inventory drawdowns indicate that high costs may now be suppressing demand, helping rebalance an increasingly stressed market.
- Vitol CEO Russell Hardy warned that a shutdown of 10–14 million barrels per day of Middle Eastern exports could push benchmark crude prices towards $200 per barrel, Reuters reported.
Nasdaq Futures Fall 2% as Intel Plunges 23% and Amazon Drops 7.7%; AI Stocks Slide
- Nasdaq futures extended losses to 2% in Asian trading after disappointing earnings from Intel and Amazon triggered a broad sell-off in US technology stocks.
- Intel plunged 23% and Amazon fell 7.7% in overnight trading. Nvidia declined 2.5%, Micron dropped 4.4% and Oracle lost 4%.
- AI hardware stocks also came under pressure, with AMD falling as much as 7%, SK Hynix declining 5%, and Marvell and Lumentum losing around 4%.
- Dell Technologies shares dropped nearly 7% after hours, while HP and Hewlett Packard Enterprise fell approximately 6%.
- Intel’s CFO forecast a 12% decline in PC shipments in 2026, including a drop of more than 20% in the second half, but maintained expectations of a potential PC-market recovery.
- Intel expects its custom-chip business to triple over the next three years, while Amazon CEO Andy Jassy said the company has clear visibility into computing-power demand through 2027 and 2028, with some visibility into 2029.
- Apple and Eli Lilly bucked the broader weakness, with both stocks rising towards potential record highs.
Binance Suspends Deposits and Withdrawals After Suspected Security Breach; $2.54 Billion in Assets Frozen
- Binance, the world’s largest cryptocurrency exchange, temporarily suspended all deposits and withdrawals while investigating a suspected security incident.
- The exchange said more than $2.54 billion in assets have been frozen, warning that the figure could increase as security checks continue.
- Binance said it would cover all user losses and is working with law enforcement to investigate the incident and freeze potentially affected funds.
- Co-founder Changpeng Zhao acknowledged the possibility of a hack but expressed confidence that user funds would remain protected.
- Blockchain tracker Arkham identified wallets associated with the suspected attacker holding approximately $5.9 billion in digital assets. This does not necessarily represent the amount stolen from Binance.
- The incident triggered a broader cryptocurrency sell-off, with Bitcoin falling below $77,000, its lowest level since September, while other digital tokens also declined.
- Market participants warned that the incident could undermine confidence across the crypto industry because of Binance’s significant market position.
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Hedge Funds Short $5 for Every $1 Bought as Anthropic IPO Raises AI Stock Squeeze Risks
- Goldman Sachs data show hedge fund clients sold short approximately $5 worth of stocks for every $1 purchased this month, signalling strongly bearish positioning.
- Bloomberg reported that Anthropic’s planned IPO could force hedge funds to cover short positions if renewed enthusiasm for AI triggers a market rally.
- Anthropic filed its S-1 registration statement on October 26 for a proposed Nasdaq listing under the ticker ANT, disclosing $16.3 billion in first-half revenue.
- A surge in demand for AI-related shares could trigger a short squeeze, forcing bearish investors to buy back shares and potentially amplifying market gains.
- CNBC’s Jim Cramer warned that markets may be “running out of money” as large capital-raising plans accumulate, including Meta’s reported $95 billion share-sale plan.
Alphabet Credit Risk Rises as AI Spending Concerns Push CDS Costs Higher
- Alphabet shares plunged on Thursday after disappointing earnings renewed concerns about whether massive AI investments will generate sufficient returns.
- The company’s five-year credit default swap (CDS) spread widened by as much as 5.3 basis points to 84 basis points, marking its largest daily move since September 21.
- Credit-risk indicators also rose for other major AI companies, including Meta and Broadcom, according to ICE Data Services.
- Barclays analysis of trade-archive data found year-to-date CDS trading linked to the 10 largest hyperscalers and chipmakers surged more than eightfold to $176 billion.
- CDS trading volume associated with the group reached $46.8 billion in 2026, nearly five times the year-earlier level.
- Oracle CDS contracts remain the most actively traded, while some newer contracts, including those linked to SpaceX, have only begun trading in recent months.
Alphabet’s AI-Related Financial Exposure Exceeds $1 Trillion as Cloud Commitments Surge
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Alphabet’s AI-Related Financial Exposure Exceeds $1 Trillion as Cloud Commitments Surge
- Alphabet’s latest quarterly filing highlights AI-related financial exposure exceeding $1 trillion, including procurement commitments, future lease payments and other obligations.
- The company reported rapidly growing Google Cloud demand, reflected in a rising backlog of unfulfilled cloud contracts. More than one-third of the quarterly backlog increase came from an equity-accounted joint venture.
- Alphabet disclosed approximately $98.5 billion in contingent commitments, up around $23 billion from the previous quarter.
- These commitments include guarantees for data-centre lease payments, support for partners purchasing power equipment, and potential repurchases of AI chip systems from customers under specified conditions.
- The disclosure expands on comments from Alphabet’s CFO during Wednesday’s earnings call regarding more than $1 trillion in procurement commitments, future lease payments and other obligations.
India Records ₹42,039 Crore in IPO Fundraising in September as OFS Deals Dominate; Jio Debut Reshapes Market Rankings
- Indian companies raised a record ₹40,355 crore through 32 mainboard IPOs in September 2026, according to SEBI’s October bulletin.
- Including 38 SME issues, the month recorded 70 IPO listings worth approximately ₹42,039 crore, despite a sharp decline in the Nifty 50 and Sensex.
- Offer-for-sale (OFS) transactions accounted for 75% of mainboard IPO proceeds, meaning most funds went to selling shareholders rather than directly to the issuing companies.
- Jio Platforms listed on October 28 at a 21% premium to its issue price, becoming India’s second-most valuable company behind Reliance Industries.
- Tata Consultancy Services (TCS) slipped to sixth place by market capitalisation following weakness in IT stocks on Wednesday, its first time outside the top five in decades.
- TCS shares rebounded on Thursday after the US Federal Reserve held interest rates steady, although Geojit’s V.K. Vijayakumar warned that foreign investor outflows and elevated US bond yields remained market risks.
Jio Platforms Becomes India’s Most Widely Held Stock With Nearly 80 Lakh Shareholders After Record IPO
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Jio Platforms Becomes India’s Most Widely Held Stock With Nearly 80 Lakh Shareholders After Record IPO
- Jio Platforms now has approximately 79.6 lakh shareholders, overtaking Tata Motors Passenger Vehicles, which has around 66.3 lakh, The Economic Times reported.
- The shareholder base surged from just 104 before the company’s record ₹30,213-crore IPO, reflecting widespread investor participation.
- Jio Platforms shares listed on the NSE and BSE on Wednesday at ₹1,358, a 21.36% premium to the issue price of ₹1,119.
- The market debut made Jio Platforms India’s second-most valuable company, behind its parent, Reliance Industries, according to Reuters.
China’s AI-Heavy STAR 50 Slides Again, Erasing $480 Billion as Tech Sell-Off Deepens
- Shanghai’s chip-heavy STAR 50 Index fell on Thursday, reversing a one-day rebound triggered by SK Hynix’s earnings, despite strong sales growth reported by Chinese AI chipmaker Moore Threads.
- The index has plunged approximately 40% in less than four months, wiping out around $480 billion in market value since July, according to Reuters.
- High valuations and concerns over a possible US ban on data centres using Chinese technology have added to pressure on AI and semiconductor stocks.
- The broader sell-off has spread across Chinese equities, with the CSI 300 entering bear-market territory on October 22.
- Bloomberg estimates Chinese stocks have lost approximately $3.5 trillion in market value since May, highlighting the scale of the market downturn.
ECB Holds Rates at 2.5% as Energy Inflation Risks Keep December Hike in Focus
- The European Central Bank kept its deposit rate unchanged at 2.5%, in line with market expectations, as policymakers assessed the economic impact of the energy shock linked to the Iran conflict.
- The ECB said core inflation remained broadly stable and wage growth had not shown significant fluctuations, with no clear evidence yet that higher oil and gas prices were spreading to other sectors.
- Policymakers warned that the scale and duration of the energy shock could push inflation higher, while tighter financial conditions could weigh on economic growth.
- Markets continued to assess the possibility of a December rate hike, when the ECB is scheduled to release updated economic forecasts. Expectations for further tightening into 2027 remained volatile.
- The euro weakened following the decision, briefly falling to around $1.1106, while Germany’s 10-year government bond yield stood near 3.35%.
- Concerns over France’s financial and political situation added to uncertainty, while reports of ECB President Christine Lagarde’s possible early departure further complicated the outlook.
India Finance Ministry Says RBI’s Inflation Fight Depends on Liquidity Management
- India’s Finance Ministry said the effectiveness of recent RBI rate hikes in containing second-round inflation will depend on active management of surplus banking-system liquidity.
- In its October monthly economic review, released Thursday, the ministry said effective liquidity management is essential to ensure monetary tightening translates into lower inflationary pressure.
- The report said RBI measures to provide US dollar liquidity directly to state-owned oil marketing companies and curb currency speculation could help limit extreme rupee volatility and ease imported inflation.
- India’s economy is expected to remain expansionary through the rest of FY2027, with the Finance Ministry’s nowcast estimating GDP growth at 7.3%.
- Rising food inflation, uncertain summer-crop prospects, elevated crude oil prices and disruptions to Middle East shipping routes remain key risks to the inflation outlook.
NYT: US Intelligence Allegedly Identified China-Linked Asset With Ties to Nvidia CEO Jensen Huang
- US intelligence reportedly identified Alice Huang, a senior executive at Singapore-based Megaspeed, as an alleged Chinese intelligence asset with close ties to Nvidia CEO Jensen Huang, according to The New York Times.
- The report alleges that Alice Huang passed information to Beijing while Megaspeed faced scrutiny over suspected Nvidia chip smuggling to China.
- US President Donald Trump was reportedly briefed on the intelligence findings in 2025, but no action was taken, according to the report. Jensen Huang was allegedly not warned.
- Nvidia denied sharing sensitive information, while Megaspeed said it was investigating the allegations.
- The claims remain allegations; the reported intelligence findings and the alleged information transfers have not been independently established in the information provided.
Europe to Release 42 Million Barrels of Oil Reserves Over Three Months to Ease Energy Prices
- Europe will release 42 million barrels of oil reserves over the next three months, French Finance Minister Roland Lescure said on Thursday, as authorities seek to ease energy prices.
- Approximately half of the planned release will consist of diesel, reflecting concerns over elevated fuel costs and supply pressures.
- France’s previously announced release of 10 million barrels of diesel reserves is expected to enter the market in the coming days, with an impact on prices potentially visible as early as next week.
- Lescure said the French diesel release could reduce prices by €0.12–€0.18 per litre, with supplies offered at cost price.
- The move follows a G7 commitment to release up to 100 million barrels of oil. In March, participating countries had already completed a coordinated release of 400 million barrels under the International Energy Agency.
- Lescure said Europe would retain the option of releasing additional strategic reserves if the energy crisis persists.
Samsung Plans Record 84.4 Trillion Won Capex in 2026 as AI Demand Tightens Memory Supply
- Samsung Electronics plans to spend a record 84.4 trillion won in 2026, approximately 60% more than in 2025, to expand production capacity amid strong AI demand.
- The company reported record third-quarter operating profit of 107.4 trillion won, with its semiconductor division contributing approximately 99.1% of the total, according to Yonhap.
- Samsung plans to allocate 76.8 trillion won to semiconductors, reflecting continued investment in AI-related memory and chip manufacturing.
- Samsung’s entire 2027 high-bandwidth memory (HBM) supply has reportedly sold out, according to Maeil Business, highlighting tight supply and strong demand from AI infrastructure customers.
- Despite record earnings and the aggressive investment plan, Samsung shares fell following the results, CNBC reported.
Alphabet Shares Slide as $51.4 Billion AI Capex Pushes Free Cash Flow Negative; Nasdaq Futures Fall
- Alphabet raised $28.7 billion through bond sales and issued $12.4 billion in new shares during the third quarter, while making no share buybacks, according to its earnings release.
- Capital expenditure surged to $51.4 billion, leaving free cash flow at negative $9.1 billion for the second consecutive quarter as the company expanded its AI infrastructure.
- Alphabet shares plunged in after-hours trading and fell in premarket trade after earnings and revenue missed forecasts, while search advertising growth slowed.
- Nasdaq 100 futures declined on Thursday as mixed results from Alphabet and Microsoft tested investor confidence in the returns from massive AI investments.
- Microsoft’s strong Azure growth helped ease concerns about AI monetisation, but software stocks ServiceNow and Fortinet fell sharply amid renewed fears that AI could disrupt established software businesses.