SpaceX jump makes Musk a trillionaire again, Finpresso

Hi there, this is your daily ☕️ Finpresso.

In today's newsletter:

🚀 Musk is a trillionaire again as SpaceX jumps

💰 Banks launch record $60B AI chip deal

⚡ Schneider Electric buys PTC for $22.6B

🇨🇳 DeepSeek nears $12B raise led by Tencent, CATL

🌙 Moonshot AI hits $50B before Hong Kong IPO

Plus: 🌍 10 macro stories, 🏢 9 corporate stories, and 📑 6 research & reports.

🚀 Musk is a trillionaire again as SpaceX jumps LINK

SpaceX shares climbed nearly 8% yesterday to their highest since mid-June, lifting Elon Musk back above a $1 trillion net worth across his Tesla and SpaceX holdings.
The rally followed a note on Sunday from Morgan Stanley, which called SpaceX "cheap" and set a $300 price target, about 75% above yesterday's close, citing Starship progress, AI product releases and cloud-rental contracts.
The analysts urged buying before SpaceX's next Starship test flight and its late-October earnings; a successful upper-stage "catch" would be the biggest positive catalyst since the June IPO, which has since recovered roughly 58% off its early-August low.

💰 Banks launch record $60B AI chip deal LINK

Wall Street banks have begun syndicating a record $60 billion debt package to finance Anthropic's lease of Google-designed chips, the largest chip-financing deal yet as tech firms scramble to lock in AI computing power.
Bank of America, Citigroup and Morgan Stanley launched the sale yesterday with $42 billion in senior loans backed by Broadcom's A-minus credit rating, followed by a riskier junior tranche in which Blackstone has already committed about $9 billion.
The deal is seen as a test of lenders' willingness to fund capital-intensive AI ventures amid doubts over returns; because the junior tranche exposes lenders directly to Anthropic, banks may wait for the startup's planned IPO later this year before tapping wider markets.

⚡ Schneider Electric buys PTC for $22.6B LINK

Schneider Electric has agreed to buy Boston-based industrial software maker PTC for $22.6 billion, a rare software mega-merger in a year when AI-driven uncertainty has largely frozen sector dealmaking.
The French conglomerate will pay $205 per share in cash, a 42.3% premium to PTC's closing price on Friday, rewarding shareholders of the maker of design and engineering software.
The deal would be Schneider's largest-ever purchase, exceeding its $11 billion acquisition of Aveva in 2023, and marks its third billion-dollar-plus transaction this year.

🇨🇳 DeepSeek nears $12B raise led by Tencent, CATL LINK

DeepSeek, the Chinese AI startup, is close to raising at least 80 billion yuan ($11.93 billion) in a funding round backed by Tencent and battery maker CATL, Bloomberg reported today.
Demand ran well past the 50 billion yuan the company first sought, potentially pushing the round close to double that target, after the September launch of its DeepSeek-V4.1-Flash model drew heavier investor interest.
The financing ranks DeepSeek among the most heavily funded private AI companies and deepens China's push for an AI stack less reliant on U.S. technology, following its partnership with Huawei to build tools for Huawei's Ascend chips rather than Nvidia's.

🌙 Moonshot AI hits $50B before Hong Kong IPO LINK

Chinese AI startup Moonshot has reached a roughly $50 billion valuation in a new private funding round, setting the stage for a Hong Kong IPO that could come as early as the first quarter of next year.
The figure is a sharp jump from the $31.5 billion the company was valued at earlier this summer, and it is weighing an offering that could raise as much as $5 billion, which would rank among Hong Kong's biggest tech listings.
Backed by Alibaba and Tencent, Moonshot expects its annual recurring revenue to hit $2 billion by December, roughly double its current run rate, making the deal a public-market test of appetite for China's AI sector.

🌍 Macro News

FinCEN scraps proposal to regulate crypto mixers over concerns about legitimate activity. LINK
Takaichi pledges bond issuance control and swift response to market turbulence. LINK
BOJ may say inflation reached target, bolstering expectations for a December rate hike. LINK
BIS chief says debt and deficits will complicate central-bank crisis response. LINK
Iran's oil minister resigns amid scrutiny over missing overseas oil revenues. LINK
Trump temporarily suspends federal diesel tax for highway drivers through year-end. LINK
India says US trade talks have plateaued, with little room for concessions. LINK
House China chair urges Fed to reconsider Hong Kong's dollar emergency access. LINK
Brazilian stocks surge as Flávio Bolsonaro becomes favorite in presidential race. LINK
CFTC proposes crypto-market rules after Senate digital-asset legislation failed. LINK

Jio targets $114 billion IPO valuation, below earlier expectations. LINK
Alphabet nears billion-dollar nuclear power deal with Constellation Energy. LINK
DayOne files for US IPO, testing demand for data-center listings. LINK
GCash parent Mynt targets IPO valuation above $7 billion, the Philippines' largest. LINK
Paramount Skydance reveals leadership lineup for combined company following Warner Bros. deal. LINK
Oracle healthcare cyberattack exposed sensitive data of nearly 20 million Americans. LINK
C.H. Robinson to acquire RXO, combining freight brokerage and logistics networks. LINK
Informa will buy Clarion events for £2.24 billion from Blackstone. LINK
Stripe plans stablecoin-linked cards in over 100 countries by year-end. LINK

▼ Biggest losers

Sunoco LP fell 6% after RBC Capital cut its price target to $68 from $75. LINK

INNIO fell 5% as private equity-linked holder sold 103.5M shares. LINK

C.H. Robinson Worldwide fell 11% after announcing a $5.8 billion RXO acquisition. LINK

Anthropic mid-tier subscriptions offer five times OpenAI's comparable API-equivalent value. LINK
BofA strategists recommend shifting from AI spending bets toward consumer stocks. LINK
World Bank raises regional growth forecast, citing AI exports but warning of exposure. LINK
China-based wallets' direct stablecoin transfers surged 43-fold despite Beijing's crypto crackdown. LINK
Surveys show rising stablecoin interest in Asia and widespread wealthy-investor crypto ownership. LINK
Goldman forecasts 27% third-quarter earnings growth, increasingly driven by AI companies. LINK