Nvidia plans its biggest-ever buyback, Finpresso

Hi there, this is your daily ☕️ Finpresso.

In today's newsletter:

💰 Nvidia unveils biggest-ever stock buyback at $150B

📉 Anthropic IPO filing reveals $42B loss

💼 Meta launches enterprise AI unit led by MongoDB CEO

🤖 AMD names Fei-Fei Li chief scientist in $8.2B deal

🏦 Coinbase wins approval to clear its own derivatives

Plus: 🌍 12 macro stories, 🏢 9 corporate stories, and 📑 6 research & reports.

💰 Nvidia unveils biggest-ever stock buyback at $150B LINK

Nvidia, the chipmaker at the center of the AI spending boom, expanded its share-buyback program by $150 billion, its largest increase ever, and its stock rose 1.8% in early trading following the announcement.
The increase brings Nvidia’s remaining buyback authorization to a record $235 billion, following an $80 billion addition four months earlier, with Chief Executive Jensen Huang saying the company’s cash generation supports both technology investment and shareholder returns.
The buyback follows a quarter in which Nvidia’s revenue more than doubled to $96.22 billion as companies bought AI chips to build data centers; AMD and Intel shares also gained after the announcement despite broader tech-sector weakness.

📉 Anthropic IPO filing reveals $42B loss LINK

Anthropic, an artificial-intelligence developer, reported a $42 billion net loss last year in a leaked IPO filing, dwarfing its nearly $4.6 billion in revenue even as sales surged and computing expenses mounted across its business.
The filing says Anthropic plans $518 billion in cloud, computing and infrastructure spending obligations in the coming year, compared with just $20.3 billion in cash at the end of last year, exposing a vast funding gap.
Nearly a quarter of Anthropic’s revenue came from two customers, and many large clients lack long-term contracts; cheaper open-weight AI models are also driving prices down as the company seeks IPO funding amid slowing demand for frontier models.

💼 Meta launches enterprise AI unit led by MongoDB CEO LINK

MongoDB shares fell 25% and Meta slipped about 4% yesterday after MongoDB CEO CJ Desai left to lead Meta’s new enterprise AI platform as chief enterprise platform officer, reporting directly to Meta CEO Mark Zuckerberg.
Meta’s new platform will initially focus on its Muse agent, a business agent and a coding tool; Zuckerberg said the effort would draw on the company’s AI models, large-scale infrastructure and experience working with businesses.
At MongoDB, former CEO Dev Ittycheria returned as interim chief while the board searches for a permanent replacement; the company reaffirmed its fiscal third-quarter and full-year 2027 forecasts despite Desai’s exit after less than a year.

🤖 AMD names Fei-Fei Li chief scientist in $8.2B deal LINK

AMD, the chipmaker, named Fei-Fei Li chief scientist in an $8.2 billion deal to acquire World Labs, with the company describing expected benefits from the purchase but offering no specific financial projections in its statement.
AMD describes the timing of the World Labs acquisition’s closing as an expectation, not a commitment, and identifies its ability to integrate acquired businesses as a risk that could make actual results differ materially from expectations.
AMD also cites export restrictions, the availability of chipmaking components and the risk of losing key employees as uncertainties, underscoring that the acquisition’s anticipated benefits and expected closing timetable could change as the transaction proceeds.

🏦 Coinbase wins approval to clear its own derivatives LINK

Coinbase, the crypto exchange, won US approval yesterday to clear derivatives in-house, completing its regulated trading setup and giving it direct control over settlement for fully funded contracts rather than relying entirely on outside clearing firms.
The new clearinghouse can handle fully funded futures, options on futures and swaps, with Coinbase saying the ability to create and settle those contracts directly should speed up product development and make operations more efficient.
The approval excludes leveraged contracts, so Coinbase will keep using outside clearing firms for products requiring less than full upfront funding and for its planned contracts tied to individual stocks that have no expiration date.

🌍 Macro News

Australia raises rates to 4.6%, highest since 2011, and warns increases may continue. LINK
Fed Governor Cook says AI demand spreads inflation beyond the technology sector. LINK
Senate probe links Tether’s USDT to Iran networks and terrorist financing. LINK
Google appeals EU search-data sharing order, citing risks to Europeans’ privacy. LINK
US eases fuel-economy rules, potentially sparing Ford $1 billion in annual fines. LINK
Dollar nears two-month high as Treasury yields and oil prices rise. LINK
Oil gains as Middle East supply concerns persist despite diplomatic efforts. LINK
Gold and silver fall as stronger dollar and bond yields weigh. LINK
India plans $25 billion for deep-tech startups to reduce foreign reliance. LINK
Moore Threads falls as China signals approval for Nvidia workstation-card sales. LINK
QatarEnergy extends LNG delivery warnings through November amid Hormuz disruption. LINK
China sets IPO hurdles likely to exclude most humanoid-robot startups. LINK

Anthropic launches Claude Sonnet 5.5 at half Opus pricing for routine tasks. LINK
OpenAI cancels GPT-6.1 Astra release after model fails safety standards. LINK
Instinct raises $1 billion at $10 billion valuation for AI assistant. LINK
Samsung affiliates invest $1 billion in Nvidia-backed AI infrastructure firm Helix. LINK
Snowflake prices $3.75 billion convertible bond sale, larger than planned. LINK
Citi clients can accept Coinbase stablecoin payments without holding cryptocurrency. LINK
Blockchain.com reportedly seeks $500 million IPO as crypto markets rebound. LINK
AstraZeneca invests $2 billion in Summit cancer-drug research venture. LINK
Goldman opens $100 billion Treasury fund to institutional crypto firms through Lynq. LINK

▲ Biggest winners

NetEase rose 5% after Morgan Stanley named it Top Pick. LINK

▼ Biggest losers

Bloom Energy fell 9% after Brookfield's $5 billion investment deal failed to impress investors seeking immediate revenue growth. LINK

Arm Holdings fell 9% after a filing revealed CFO Jason Child sold 10,400 shares. LINK

Bain says AI industry needs $6 trillion in annual revenue by 2031. LINK
Goldman says cloud giants need $300 billion in annual AI revenue to break even. LINK
Ethereum USDT growth did not bring sustained smart-contract holdings, BIS data show. LINK
Electronic payments spread, but disconnected invoice details keep business accounting manual. LINK
ICMA paper examines smart contracts automating fixed-income issuance, settlement, servicing and collateral management. LINK
AI assistants could drain banks’ cheap deposits by shifting household cash. LINK