📊 The AI trade stumbled after a Financial Times report put OpenAI’s annualized revenue about $20 billion below what it had previously signaled. The Nasdaq fell 1.25%, the S&P 500 dropped 0.47% and the Dow added 0.1%. 🗄️ Oracle ($ORCL) dropped more than 5% as the OpenAI news hit names tied to the buildout. Advanced Micro Devices ($AMD) lost almost 4% and Nvidia ($NVDA) shed nearly 3%. 🥤 PepsiCo ($PEP) rose 3.73% to $128.34 on a third quarter beat. Adjusted earnings of $2.34 per share on $25.27 billion in revenue topped the $2.29 and $24.96 billion LSEG consensus. The stock is still down 12% this year. 🛰️ Palantir ($PLTR) gained 2%, one of the few winners, after Goldman Sachs upgraded it to buy with a $230 target implying 18.5% upside. Analyst Gabriela Borges sees the addressable market stepping up again on sovereign AI and bespoke applications. ⛏️ Bitcoin miners sold off hard on crypto weakness and doubts about their AI pivots. Riot Platforms ($RIOT) lost 11%, Cipher Digital ($CIFR) and Hut 8 ($HUT) each dropped 10%, CleanSpark ($CLSK) fell 9% and Terawulf ($WULF) slid 8%. 🛢️ Oil spiked after Trump said he doesn’t want a deal with Iran, with the U.S. reportedly preparing for massive bombing, then came off highs when he added there would be no attack before the November 3 midterms. Brent rose 4.07% to $104.28 and WTI advanced 3.64% to $91.49. 👨🏻💻 Researched and written daily by @timemino
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6 Comments
Mike L
@noviceadvisor · 14d
He mentioned oil! Yay!
RICHARD CAMPBELL@richardca90 · 9d
👍🏻👍🏻👍🏻
Jay
@jayjay126 · 13d
I don’t trust tha guy 😡
Matthew Balmert@cd2_js4 · 13d
fuk sam altman
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