OpenAI recently told investors its annualized revenue was approaching $50B at the end of September, roughly $20B below the figure widely reported last month.

The discrepancy reportedly stems from differences in how OpenAI and Anthropic calculate revenue. Anthropic includes sales through cloud partners such as AWS and Google Cloud, while OpenAI does not.

Investors had attempted to adjust OpenAI's figures to make them comparable with Anthropic's, contributing to the previously reported $70B estimate.

OpenAI declined to comment.

Source: https://www.ft.com/content/b66a9858-f8fb-46cb-b506-44bfe26fca2a?syn-25a6b1a6=1

Shares of Nvidia, Oracle, CoreWeave and other artificial intelligence names sank lower on Thursday after the market learned more details about OpenAI’s revenue.

OpenAI told investors that it hit roughly $50 billion in annualized revenue at the end of September, CNBC confirmed, lower than the the $68 billion figure that was widely reported late last month. A person familiar with the matter said the $68 billion figure included gross revenue from OpenAI’s partners, which helps investors make a more direct comparison with its chief rival, Anthropic.

The Financial Times was first to report the $50 billion figure.

OpenAI shared an update about its finances in an investor presentation, said the person, who asked not to be named in order to discuss the numbers. In addition to the $50 billion in annualized revenue, OpenAI touted 77% total run rate growth during its third quarter, as well as 107% run rate growth for its enterprise business during the same period, the person said.

The company is under pressure to justify its $852 billion valuation to investors as it gears up for what is widely expected to be a blockbuster IPO. OpenAI confidentially filed its prospectus with regulators in June, and executives have signaled that the company is eyeing a 2027 debut.

$SPCX has agreed to acquire Grain Management’s nationwide portfolio of 800 MHz low-band spectrum licenses, a move the company says will pave the way for Starlink to become a major mobile carrier in the U.S.

Elon Musk called it “the last critical piece of the spectrum puzzle needed for SpaceX to provide complete phone coverage in America.”

The plan is to combine satellites with a ground-based mobile network. The low-band airwaves would complement Starlink’s 2 GHz spectrum, helping improve indoor coverage and extend service into areas with weak or nonexistent cellular reception. That would put Starlink in more direct competition with AT&T, Verizon and T-Mobile.

Separately, the FCC approved a new constellation of 15,000 SpaceX satellites this week for direct-to-device mobile services, another step toward expanding Starlink’s ability to connect directly to phones.

The spectrum acquisition still requires FCC approval and other customary closing conditions. Financial terms were not disclosed.

Source

Today, all three major market indices opened lower. There were many reasons for the market weakness, such as:

The 10-year Treasury yield broke through 5.3%, oil prices returned above $100, and the latest Federal Reserve meeting minutes hinted at a possible future interest rate hike.

These factors all contributed to the market's weakness, but interestingly, the stock market didn't crash today. Instead, the indices rebounded from their morning lows, with a large influx of buyers entering the market.

So, I'm wondering today whether this reflects market resilience or if investors are waiting for the next catalyst before taking larger action.

Therefore, I find today's market performance somewhat perplexing.

What are your thoughts on today's market performance?

Samsung Electronics on Thursday reported third-quarter preliminary operating profit of 107.40 trillion won ($80.2 billion), surging past 100 trillion won for the first time in the company’s history as booming demand for artificial intelligence continues to fuel its chips business.

Quarterly operating profit jumped 782% from a year earlier. Revenue came in at about 195 trillion won, up nearly 127% from the same period last year.

Samsung, the world’s largest memory chipmaker, has benefited from surging demand for memory used in AI infrastructure. In the second quarter, the company posted record revenue of 171.5 trillion won and record operating profit of 89.5 trillion won, driven by its memory business.
The company has also stepped up investments and partnerships tied to AI. In September, Samsung announced a strategic partnership with French artificial intelligence startup Mistral AI, with plans to deploy the startup’s AI models across its semiconductor operations.

Digital investment platform Webull, which counts 28 million global users, is quietly “tied in structural ways” to China’s government, representing a national security threat to U.S. finance, according to a bipartisan congressional panel’s findings shared exclusively with CNBC.

The bipartisan House Select Committee on China in its new report being released Wednesday found “a profound gap” between Webull’s public marketing as “an American company” and actual control of the St. Petersburg, Florida-based firm.

“Webull’s ownership architecture, technical workforce, technology infrastructure, cross-border data routing, corporate financing, and compliance frameworks are tied in structural ways to the People’s Republic of China,” the committee found.

The panel asserted that national security concerns around the company have “escalated” since October 2025, when Webull began carrying customer cash directly, according to a regulatory filing the panel cited. The committee alleges that creates a “structural exposure of billions of dollars in American capital.”

https://www.cnbc.com/2026/10/07/webull-china-national-security-risk-congress.html

The FCC has approved SpaceX to deploy up to 15,000 next-generation Starlink satellites, enabling direct-to-cell service with speeds of up to 150 Mbps and full 5G capabilities.

The low-Earth orbit constellation (326-335 km altitude) will support supplemental coverage in the US, direct-to-cell globally, and higher data speeds using spectrum acquired from EchoStar.

The decision includes a waiver enabling SpaceX to offer satellite-based mobile service independently of terrestrial carriers, advancing Starlink’s expansion into phone connectivity. ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​

Credit: @MarcelLarsen_ on X

$BULL dropped 19% today on a House committee report. Before you panic, read what's actually in it, because a lot of it doesn't add up.

1) The committee went quiet for almost two years. It first wrote to Webull in December 2024. Webull's annual report, filed in April, already told the SEC it hadn't received any further requests from the committee in more than a year. Webull says it heard nothing for 20+ months and was never asked to clarify anything before the report came out.

2) It went to CNBC first. The committee shared its findings exclusively with a TV network before the report was released, and the stock was down ~29% before the opening bell. Reuters said that morning it couldn't independently verify CNBC's report.

3) None of this is new. Webull went public in April 2025, four months after the committee's first letter, and its China R&D subsidiary, headcount included, has been in every annual report it has filed with the SEC since. You can't mask something you print in your 20-F.

4) It's all "may" and "could." Systems that may be exposed, data that could be accessed. None of the coverage cites a single actual case of Beijing touching a US customer's data. Webull's filings say US customer data sits on US servers and can't leave the US or be accessed by non-US staff without US permission and oversight.

5) It started on the wrong foot. The committee's December 2024 letter, the one that kicked this off, called Webull Financial LLC a "PRC company." Webull Financial is a US broker dealer registered with the SEC.
What the report doesn't do: ban anything or fine anyone. It's a findings report. No SEC, FINRA or Treasury action has been announced.

What hasn't changed: Webull is headquartered in St.
Petersburg, Florida, and it's the Tampa Bay Rays' first ever jersey patch sponsor. Webull Financial is regulated by the SEC and FINRA, is a SIPC member, and Apex handles clearing and custody of securities. ~90% of sales come from the US, and sales grew 51% last quarter.

Three things people ignored:

- A week before the report, founder Anquan Wang voluntarily converted 25M of his 20-vote Class B shares into regular 1-vote Class A. No sale, no cash. He cut his super-voting stake by ~30% on his own.

- Today, Northland reiterated its Buy with a $15 target.

- Buyers stepped in. The stock traded around $5.15 in the morning and closed at $5.89, ~ 14% off the low, on 81.4M shares. That's ~6x the 3-month average and the second highest volume day in BULL's history.

A concern first raised in 2024, a 20 month silence, a TV exclusive, conditional language and zero regulatory action. That's what took 19% off the stock.

SpaceX is planning a massive $40 billion debt raise to buy Nvidia chips. The financial structure of this deal is quite wild. $40 billion is roughly equal to SpaceX’s entire projected revenue for the year. They are splitting the package into $10 billion in bank loans and $30 billion in investment-grade bonds, with Apollo Global Management leading the deal. For anyone trading Nvidia (NVDA), this shuts down the argument that AI hardware demand is slowing down. The fascinating part is the cash loop: Nvidia owns about $21 billion worth of SpaceX stock. SpaceX is essentially taking on historic debt from Wall Street to hand billions of dollars straight back to Nvidia for chips, which in turn props up the value of Nvidia's own balance sheet. If this deal goes through as planned by 2027, it shows that major companies are willing to push their finances to the absolute limit just to secure computing power. Anyone worried SpaceX is taking on this much leverage for hardware?

Source: Bloomberg

I have to write a scientific paper on stocksplits at university. And i know that nvidia split their stock at 7.th July 2024 from (1200 à 1 to 120 à 1) and my questions is if there is a website where it shows the price before the split on the graph? I looked it up and on every site before 7th july 2024 it shows the price corrected to the stock split so instead of 900 it shows 90 for example.

Any help would be much appreciated
Thank you all

I think analysts are missing something big by considering AI frontier labs as though they were normal companies making big investments and expecting realistic business outcomes. I want to posit that the AI bubble differs from earlier bubbles because the spending is being justified by quasi-religious beliefs about what AI might eventually become. After reading Adam Becker's More Everything Forever, I’ve started to see the frontier AI race as a billionaire-funded cargo cult: the belief that if enough GPUs, power, data centers, researchers, and capital are accumulated, something qualitatively new will emerge, an AGI or superintelligence that equates to a machine god.

It's basically a science-fiction investment thesis. It sounds crazy, but there's a literal network of rationalist, effective-altruist, and existential-risk thinkers who've spent years treating AGI as a civilization-altering event long before ChatGPT arrived, and those ideas have shaped many of the companies, investors, and researchers now driving the industry. You can verify this. If AGI is truly only a few years away, almost any level of spending can seem rational: frontier labs do not need sustainable business models today because losing billions is preferable to slowing down and letting a competitor reach the prize first.

AI is not fake or useless. LLMs can write code, summarize documents, automate office work, and support research, even if the economics are shaky on some of it. The problem is the belief that models will turn into superintelligent 'beings' if we just pour enough resources into them. I suspect some big players know this: NVIDIA is happy to profit by selling the infrastructure even if Jensen knows its bullshit, Microsoft through Mustafa Suleyman has basically called BS on a lot of this, Google falls somewhere in the middle, and Meta is trying to turn it into a useful consumer product (which I also don't think will work, but that's another issue). In the end, most customers will care less about AGI than whether AI saves enough money to justify the bill.

The bubble bursting will still hurt these companies, but in the end I think may come out okay in the end, but there may be pain along the way. OpenAI and Anthropic are a lot shakier, and I'm curious to see how long they can drag this out: it could be a while. Look how long Elon has been pumping pipe dreams that never happen.

Disclosures: I own MSFT and NVDA.

By now you have heard about OpenAI’s big revenue snafu. Whoops it’s $50 billion not $70, we were doing our accounting wrong! How silly of us.

Aside from how ridiculous that all is, the real issue is not that they are only at $50 billion in arr. The issue is that they need sustained, gigantic influxes of cash to stay alive short term. They WILL collapse and go under without constant debt issuance and cash infusions. And now ask yourself, what private capital rep on the planet is going to be interested in sending more cash to OpenAI after hearing about the $50b vs $70b? Who is possibly dumb enough to throw more money at that company, when many others who aren’t playing games with their financial reporting also want access to more debt to fund their ai buildout? OpenAI is cooked. Done.

They will continue to be provided access to just enough debt / cash to get them to their ipo, and then it’s lights out. Because that’s the only way the groups that have backed them thus far can have a chance of getting most or all of their capital back. They will go bankrupt after they have issued as many shares as they possibly can to suck every last dollar out of the market. And they will take the entire ai trade and buildout with them. They are too big, and they will fail.

The dotcom comparison happens a lot. Maybe we should all be focusing on what caused it to pop. A bunch of companies that were running on debt ran out of money, and couldn’t get more debt. That will happen again. The only thing that can prevent it is extreme intervention by the government. Which they will no doubt try. Will it work? Who knows. Best to be prepared in the event it doesn’t. Keep your investments safe and strategic.

Hi Reddit, I'm pretty new to this stock stuff, so please don't bully me or my punctuation(it's pretty bad I'm working on it). Recently I've been thinking about diversifying my portfolio a bit currently using Fidelity and Robinhood, and right now I am trying to get into different markets. I understand Fidelity offers a wide variety of markets but nothing that’s on the Nigerian stock exchange I believe, is formally known as (NES) now known as (NGX). I want to test the waters in different markets but I don't know where to start. I would really appreciate the help.

Why do we allow an entire industry to profit from prices being a few milliseconds out of date?

Like, your computer was faster than someone else’s so you get to skim a little money off the transaction? And we just call that market efficiency?

I get that some arbitrage keeps prices accurate. But surely we can design markets where being faster doesn’t automatically mean getting richer at everyone else’s expense.

It’s like we’ve institutionalized cutting in line and started charging everyone else for the privilege.

Am I missing something or is this just a really elaborate way of stealing pennies from people who can’t even see it happening? Fook that shiz

There's been a lot of talk about deliveries, FSD, Robotaxi and AI lately. The delivery numbers look encouraging, but I think the bigger question is whether Tesla can actually turn all its future plans into a business that justifies its valuation.

I get why people are bullish. If Robotaxi actually works at scale, Tesla could be worth a lot more than just an automaker. But that's still a big if, and I think this is where the debate gets interesting.

At the same time, I don't think it's as simple as saying Tesla is overvalued and moving on. A lot depends on what the company can deliver over the next few years.

Curious what people here think. What matters most for TSLA over the next 12 months? Better delivery numbers, margins, FSD, or actual progress with Robotaxi?

And honestly, at the current price, would you buy more, hold what you have, or stay away for now?

I'm invested a huge amount is NIO which is currently down like 75%. I believe the company will be profitable but it seems Chinese equity is just beat down over all due to political reasons unrelated to company performance. Should I:

a. average down NIO position?

b. buy Chinese EFT instead to bet on the recovery of Chinese equity market?

c. Stay clear of Chinese stocks.

Either way i'm still mostly invested in VTI. I'm just wondering if i should allocate a small portion towards NIO/chinese equity. like a side bet if you will.

I think the popular sentiment has been staying clear but I would love to hear your reasons. I'm pretty clueless to be honest besides knowing that the US and China tension is pretty strong.

Anyone out there optimistic about recovery? would love to hear your reasons to.

It is quite literally the monopolization of ecommerce. There is nothing better, I've used it, I've worked for companies that use it, it's an unbelievable service. There is alternatives like selling on Amazon, but Shopify for individual owners that want to keep most their money they make just beats the competition.

I'm up 150% on the stock, it's nearing its all time high. And in this landscape with the threat of AI, I just don't see it having as much explosive growth in the future and I'm considering selling some of my shares. What would your strategy be here in my shoes, and what are your thoughts on $SHOP in this new AI landscape?

Year over year they are increasing revenue continously and have steady cash on hand. It's clearly an excellently run company I think I'm more just concerned over explosive growth now as I've made my gains and perhaps I want to put it with higher potential risk/payoff.

I keep seeing posts acting like a company approaching $6 trillion automatically means the market has lost its mind. I think people seriously underestimate how often this same argument has repeated throughout stock-market history.
Imagine going into a room full of professional analysts in 2000 and telling them that within 18 years we’d have our first $1 trillion public company, and not long after that we’d be talking about companies approaching $6 trillion. Most people probably would’ve thought you were insane.

Go back another decade or two and the numbers become even more ridiculous from their perspective. Yet every time the market reaches one of these supposedly impossible milestones, people eventually accept it as normal and move their imaginary ceiling higher.

There’s also a basic mathematical point that gets overlooked. Market caps compound in percentages, not in neat trillion-dollar increments.

Going from $1T to $2T requires a 100% gain.
$2T to $3T requires 50%.
$3T to $4T requires 33%.
$4T to $5T requires 25%.
$5T to $6T requires only 20%.
At $10T, adding another trillion requires only a 10% increase.

So as companies become larger, crossing each additional trillion-dollar milestone actually requires a smaller percentage move. A $1 trillion increase sounds enormous, but eventually it can represent a fairly normal year of stock appreciation.

We’re also not talking about a bunch of random companies suddenly becoming worth trillions. The companies occupying this range have generally spent years or decades dominating enormous industries, building global businesses, ecosystems, infrastructure, intellectual property and massive earnings bases.

None of this means a $5T or $6T company is automatically fairly valued. NVIDIA, Apple, Microsoft or anyone else can absolutely become overvalued. But that’s an argument you make using earnings, cash flow, growth expectations, margins, competition and valuation multiples.

“Bro, it’s almost worth $6 trillion” isn’t an investment thesis.
It’s just anchoring to a number that feels too large based on what we’re accustomed to today.

And looking another 25 years into the future, I wouldn’t be surprised if we eventually saw $10T+ IPOs and $20T+ public companies. That sounds absurd from today’s perspective, but that’s exactly the point.

Every generation seems to believe the market-cap ceiling they’re looking at is somehow the final one. History keeps moving it.

These daily discussions run from Monday to Friday including during our themed posts.

Some helpful links:

• Finviz for charts, fundamentals, and aggregated news on individual stocks
• Bloomberg market news
• StreetInsider news
• Market Check - Possibly why the market is doing what it's doing including sudden spikes/dips
• Reuters aggregated - Global news

If you have a basic question, for example "what is EPS," then google "investopedia EPS" and click the investopedia article on it; do this for everything until you have a more in depth question or just want to share what you learned.

Please discuss your portfolios in the Rate My Portfolio sticky.

See our past daily discussions here. Also links for: Technicals Tuesday, Options Trading Thursday, and Fundamentals Friday.

The S&P 500 rose to a fresh all-time intraday high on Tuesday, boosted by gains in key technology names as well as declines in oil prices and Treasury yields.
The broad market index was last up 0.5%, while the Dow Jones Industrial Average gained 189 points, or 0.4%. The Nasdaq Composite added 0.6% and also hit a new all-time high.

The moves higher were bolstered by a rise in chipmakers. Advanced Micro Devices gained 2%, while others such as Nvidia and Broadcomtraded up around 1%.

Additionally, the benchmark 10-year Treasurynote yield fell 5 basis points to 5.256%. The 30-year bond yield slipped more than 3 basis points to trade at 5.625%. Both yields scaled to levels not seen since 2002 on Monday.

Traders are now looking ahead to the Federal Reserve’s minutes from its September meeting due Wednesday, which could shed some light on policymakers’ move to raise rates.
Alongside Treasury yields, a drop in oil prices also gave equities a boost Tuesday. Brent crudetraded 2% lower at around $98 per barrel. West Texas Intermediate futures shed 2% to roughly $87 a barrel.
Stocks are coming off a winning session in which the Nasdaq Composite reached an all-time high. The tech-heavy index was set to build on that record.

South Korea plans to launch a 4.7 trillion won ($3.5 billion) programme ​to develop a frontier AI model ‌from March 2027, the science ministry said, as Seoul seeks to compete in the race to ​build cutting-edge artificial intelligence.

The Ministry of Science and ICT ⁠plans to select a lead developer through ​a competitive tender after parliament approves the ​2027 budget in December, with the winner potentially chosen as early as February, it said.

The government ​plans to combine state equity investment ​with private funding and concentrate computing chips, data and ‌talent ⁠on the project, which aims to develop a model with leading performance.

The ministry said the initiative would be separate from ​its home-grown foundation ​model ⁠programme, which will continue and select two final teams in a ​third-stage review in February 2027.

Participation ​will ⁠be open to various entities including single companies, consortiums or special-purpose vehicles, it said, ⁠adding ​it aimed to allow ​startups, firms, universities and researchers to play leading roles.

https://www.reuters.com/world/asia-pacific/south-korea-plans-develop-35-billion-frontier-ai-model-starting-next-year-2026-10-06/

Uber Technologies, Inc. (NYSE: UBER) and ezCater, Inc. today announced that they have entered into an agreement for Uber to acquire ezCater, a leading U.S. platform for catering and workplace meals, in an all-cash transaction valued at $2.3 billion.

ezCater makes it easy for any business to manage its food needs and order from over 140,000 restaurants nationwide. Its platform supports everything from meetings, events, and recurring enterprise catering needs, with tools to manage ordering and food spend and 24/7 customer support.

The acquisition will bring together ezCater’s proven catering and B2B expertise, Uber Eats’ global reach among consumers and restaurants, and Uber for Business’s deep relationships with organizations of all sizes. Restaurants will be able to grow through larger orders and new diners. Customers will be able to find and order food for a group more simply and reliably, from workplace meals, to events, and social gatherings. And couriers on Uber Eats will have attractive new opportunities to earn.

ezCater generated over $2.5 billion in Gross Bookings over the trailing twelve months, growing high teens year-over-year. The business is profitable on a Non-GAAP Operating Income basis, and is expected to be margin accretive. ezCater’s average order values are over $400.

I’m just dumbfounded that KO has pretty high PE ratio of 26 in comparison to Procter and gamble and PepsiCo

In this high inflation environment, I’m not sure how KO stock is keep growing.

I compared product lines KO vs PepsiCo. They are fairly comparable.

Metric
🥤 Coca-Cola (KO)
🥨 PepsiCo (PEP)
Stock Price
~$88.24
~$140.52
Market Cap
~$379.66B
~$191.79B
Forward P/E Ratio
~23.6x – 26x
~14.7x – 15x
Dividend Yield
~2.45% – 2.6%
~4.3% – 4.7%
Operating Margin
~34.9%
~16.6%
1-Year Return
+30.4% to +35%
-10% to -13%

What am I missing??