See the full story in the original article.
Read the original on Yahoo Finance ↗
Related news
- Japan Is Putting Up to $21 Billion Into New GlobalFoundries Chip Plants in New York
Japan will provide up to $21 billion for two new chip plants in Malta, New York, with GlobalFoundries named technology provider and operator under a U.S.–Japan initiative. The first fab, with about $10 billion tied to it, is expected online in 2029, while a second fab carries about $10 billion more, described as an upper limit; at full operation each could produce about 900,000 wafers a year. In exchange, GlobalFoundries will redirect its existing $955 million CHIPS Act award toward silicon photonics, silicon-germanium and advanced packaging in Malta and Burlington, Vermont, and the Commerce Department will receive an equity stake. The fee structure and the size of the government stake have not been fully disclosed, while Communications Infrastructure and Datacenter revenue grew 62.0% in the second quarter and automotive revenue fell 9.5%. GFS rose 4.80% to $48.94 on a day the Nasdaq fell 1.9%.
- GE Vernova and Venture Global Sign a Power Deal Worth Up to $17.2 Billion. Here’s What’s Firm
GE Vernova is one of two suppliers in a power deal Venture Global announced on October 15, covering up to 16 gas-fired power islands of 720 MW each for LNG sites and potential AI data centers. The frame agreement was signed October 9, but only eight of the 16 islands are reserved so far, with the first order expected by the end of 2026 and further orders from early 2027. Beyond reservation fees, no party is obligated to buy or supply the rest, so the roughly $17.2 billion figure, which also includes a separate GE Grid Solutions transformer deal, depends on every order going ahead and is subject to adjustment. Spread over eight years to 2034, GE Vernova's full share would be about $2.2 billion a year, roughly 10% of its Power segment's $21 billion in sales over the last four quarters.
- Rupee extends winning streak as dollar, oil ease and stocks rally
- Chip Stock Selloff Deepens in Asia , Extends to Europe and US
The chip-stock sell-off deepened Thursday as hotter-than-expected US inflation data for September raised expectations that the Federal Reserve could raise rates again at the end of this month, adding to worries about debt-funded AI buildouts. South Korea's Kospi plunged 7.6%, triggering a circuit breaker, with SK Hynix down 11% and Samsung Electronics down 9.5% after reports of advances by China's CXMT on a new memory architecture; Nvidia fell 2.6%, ASML 6.5% and STMicroelectronics 7%. Even strong results from TSMC, whose third-quarter revenue reached TWD 1.49 trillion ($46.7 billion), up 41% year over year, did not stop its shares from falling 2%, while ASML lifted the bottom of its annual sales guidance to EUR 44 billion. AJ Bell's Dan Coatsworth said tech investors are getting uncomfortable with the amount of debt funding the AI build-out.
- IonQ Sinks 9% on All-Stock Elisity Deal Worth Up to $1.3B; D-Wave and Rigetti Fall 4%
IonQ shares fell 9% to $36.19 in morning trading after the quantum computing company agreed to acquire Elisity, a privately held Zero Trust enterprise security company, in an all-stock deal valued at up to $1.3 billion. Because the consideration is paid in stock, existing shareholders face dilution, which investors are pricing in; the stock is down 19% year to date. D-Wave Quantum and Rigetti Computing each fell 4% to $13.99 and $13.44, while the Defiance Quantum ETF (QTUM) lost 1%. Closing is expected in the fourth quarter of 2026, subject to customary conditions and regulatory approval, and the stock has a beta of 3.4.
- Germany Confirms Its Nvidia AI Deal: Will Any of Huang’s $2 Billion Europe Pledge Land in Berlin?
Government sources told Reuters that Germany will announce its industrial AI cooperation agreement with Nvidia and other partners next week, though financial terms have not been disclosed. Reports put the investments at hundreds of millions of euros, with the funding split still unknown. Jensen Huang said on October 13 in Paris that Nvidia plans to announce $2 billion in new European investments within a week, on top of $8 billion over the past year, but no report has tied the German deal to that pledge. The article notes the $2 billion equals about 1.6% of Nvidia's $127.01 billion free cash flow over the last 12 months, and says the key figure to watch is how much Huang assigns to Germany at his GTC Berlin keynote on October 21, after the Invest in Germany Summit on October 19 and 20.
Related markets
Latest news
- JPMorgan Backs Two Defense Startups With $5 Billion
JPMorgan has already committed half of its $10 billion investment pool to hypersonic-missile maker Castelion and defense manufacturer Hadrian. The bet reflects America's push to rebuild its defense industrial base.
- X-Energy, Amazon, AEP Partner To Evaluate Feasibility Of 960 MW Nuclear Project In Indiana – A Look At The Key Highlights
X-energy and American Electric Power (AEP) announced a joint development agreement to evaluate the feasibility of a proposed 960-megawatt small modular reactor project in Indiana, with Amazon supporting development through a milestone-based funding agreement. The plant would feature 12 Xe-100 units near the former Breed Generating Station in Sullivan County, redeveloping an AEP-owned brownfield site. It is the second commercial project under the X-energy and Amazon collaboration, which aims to bring more than 5 gigawatts of new nuclear capacity to the U.S. grid by 2039. At the time of writing, XE was up 2%, AMZN gained 3.75%, and AEP fell 1.13%.
- Waymo Will Be “a Trillion Dollar Business. Easy” per VC Investor
Bessemer Venture Partners' Sameer Dholakia says Waymo could become a trillion-dollar business by expanding from ride-hailing into personal car ownership, trucking and logistics. The article notes Bessemer invested in Waymo's $16 billion February round, which valued the company at $126 billion. Waymo reached 500,000 paid rides a week in March, but Sacra estimates its annualized revenue at only $355 million in February, under 0.1% of Alphabet's $403 billion in 2025 revenue. Alphabet trades at 25.0x forward earnings, within its usual range, while Uber trades at 18.2x, a level analyst Walter Piecyk links to the threat from Waymo and Tesla's Robotaxi.
- Jensen Huang Declares NVIDIA Can Win “in the Absence of Any AI Labs”
NVIDIA CEO Jensen Huang said on the BG2 podcast that about a third of the business, classical computing unrelated to AI labs, is growing 30% to 40% a year, while frontier labs account for roughly 25% to 30% of compute. In the three months to July 26, 2026, revenue rose 106% to $96.2 billion, with AI clouds, industrial and enterprise revenue up 138%. Steve Eisman cited a 10-Q line showing 70% of NVIDIA's accounts receivable comes from five customers, though the article notes receivables are not the same as revenue share. NVIDIA trades at 17.7x forward earnings, near its three-year low of 17.5x and well below its 30.3x average.
- AWS Margin Expansion and Retail Execution Power Amazon (AMZN) in Q3
Wedgewood Partners reported that its Wedgewood Composite returned 2.5% net in the third quarter of 2026, compared with 2.3% for the S&P 500 and 0.9% for the Russell 1000 Growth. In its investor letter, the firm named Amazon a leading contributor, citing AWS revenue growth accelerating to 37% from 17% a year earlier and a 63% rise in the segment's operating income. AWS backlog of around $500 billion is more than double last year's level and up 37% from 90 days earlier, and Wedgewood said this demand supports a plan to double AWS capacity from circa 2025 levels by 2027. Advertising grew 26% and generated over $75 billion in revenue over the past 12 months. As of October 16, 2026, Amazon closed at $250.00, with a market capitalization of $2.7 trillion and a 21.22% gain over the past year.
- Bitcoin is rejected at $83K as US bond yields reverse higher with equities
Bitcoin failed to follow rising equities as a wall of sell orders above $83,000 across exchanges capped gains, and BTC slipped below $82,000 after Monday's Wall Street open. The Nasdaq Composite gained 1.5% and South Korea's KOSPI rose 1.76% to 5,768 points, while the US 10-year yield climbed to 5.13% and the 30-year to 5.46%, moving in step with stocks ahead of major tech earnings from Meta, SpaceX and Tesla. QCP Capital warned that a repeat of last week's tech sell-off could threaten the $80,000 support level. Crypto liquidations totaled $335 million over 24 hours, and the Binance whale ratio fell to 0.45 from 0.54 at the start of October.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.