Revolut outage locks millions out of their money

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Revolut hit by major worldwide outage LINK

• Revolut suffered a worldwide outage today that locked millions of users out of their money, with declined card payments and failed logins reported across the UK, Ireland, France, Spain and Japan.
• The digital bank, Europe's most valuable startup at $121.1 billion, worth more than Barclays, Lloyds or Santander, said the disruption began this morning and that customers' money and data remain safe.
• Revolut, which has more than 80 million retail customers and over 750,000 business clients, has not said when services will resume or confirmed whether every user is affected.

Musk says Tesla and SpaceX may merge LINK

• Elon Musk said Tesla and SpaceX have each set up special committees of independent directors to explore merging the two companies, though he cautioned no deal is certain and any combination would need approval from 50% of Tesla shareholders.
• Musk, who recused himself from the talks as a conflicted party, made the comments as SpaceX reported $14.58bn in revenue, up 161% year-on-year and well above the $12.72bn analysts expected, lifting its stock about 2% in after-hours trading.
• SpaceX posted net income of $4.4bn, with its AI unit, branded Super Intelligence, drawing $7.6bn in revenue and now outearning its Starlink connectivity business; Tesla delivers its own quarterly results today.

Anthropic posts $80.7B loss ahead of IPO LINK

• Anthropic posted an $80.7 billion net loss for the first half of 2026, a figure that casts doubt on its planned public listing, according to a draft IPO prospectus reviewed by The Wall Street Journal.
• Most of that loss, $72 billion, stems from accounting charges tied to the shifting value of convertible notes and other financing instruments, not cash spent, so stripping them out leaves a far smaller loss even as revenue surged roughly fifteenfold from a year earlier.
• The prospectus shows infrastructure commitments above $600 billion, dominated by noncancelable cloud deals with Google and Amazon, with pending negotiations potentially pushing the total toward $750 billion, as Broadcom's chief warned rising rates could make capital the biggest constraint on AI firms.

DeepSeek open-sources tool to cut AI costs LINK

• DeepSeek has made DeepInfer, the software it uses internally to run its AI models, fully open source, saying the move lets other companies cut the compute, energy and overall cost of operating advanced AI.
• DeepInfer is the engine behind DeepSeek's V4.1-Flash model, and by publishing it the company hands cloud providers, hosting firms and developers a template for trimming "inference" costs that, the article notes, can run into hundreds of millions of dollars a year for enterprises.
• The release landed a day after the US Department of Homeland Security barred federal civilian agencies from buying or keeping DeepSeek products, citing the China-based company's models as presenting "multiple threat vectors."

Salesforce buys marketing firm Braze for $5.7B LINK

• Salesforce has agreed to buy marketing platform Braze for $5.66 billion in cash, a deal struck yesterday that would rank as its fifth-largest acquisition.
• Braze holders will get $47.50 a share, a 58% premium to yesterday's close, though still below the price at which the company went public in 2021.
• The purchase marks a shift back toward big dealmaking after Salesforce dissolved its board M&A committee in 2023, having struggled to absorb MuleSoft, Tableau and Slack, and signals its marketing cloud needs reinforcement.

Macro News

• Crude tops $110 as Middle East tensions and contract expiry lift prices. LINK
• Importer sues Trump administration over 50% Canadian-goods tariffs. LINK
• Mortgage-rate jump sends September existing-home contracts down 7.3% monthly. LINK
• French yields near 24-year high amid renewed protests over deficit plans. LINK
• Trump urges data centers to share benefits with communities to win support. LINK
• Japan exports grew 16.7%, undershooting forecasts for a second-month slowdown. LINK
• Gold and silver fall as oil prices revive inflation and rate worries. LINK
• Energy Department urges refiners to boost diesel output amid high pump prices. LINK
• ECB expands overseas euro liquidity lines to bolster the currency’s global role. LINK
• Crypto groups press SEC to revise proposed rules after 100-plus comments. LINK

Corporate News

• Netflix reports quarterly results as investors assess intensifying media competition. LINK
• Amazon plans over €16 billion investment in Germany next year. LINK
• Super Micro shares jump as stronger AI demand lifts revenue forecast. LINK
• UK regulator pushes Apple to open payment technology and sharply cut fees. LINK
• Qualcomm to cut global jobs in performance-focused workforce reduction starting November. LINK
• NextDC shares plunge 39.5% after power delays force earnings forecast cut. LINK
• GM raises cash outlook and launches $20 billion buyback after strong earnings. LINK
• Tradeweb to acquire Trumid for $1.97 billion, expanding in corporate credit. LINK
• Alibaba, ByteDance and Tencent ordered over $35 billion in Nvidia chips. LINK

Stocks

▲ Biggest winners

Telkom Indonesia rose 11% after shareholders approved a partial fiber spin-off. LINK

Hesai Group rose 8% after launching its Kosmo 3D world data engine. LINK

Revolution Medicines rose 8% after Truist raised its 2026 revenue estimate for Rasonque. LINK

▼ Biggest losers

Comfort Systems USA fell 5% after third-quarter earnings missed estimates and revenue fell short. LINK

IREN fell 4% after premarket funding worries and rate fears. LINK

Research & Reports

• Ethereum staking hit record levels as yields slipped in third quarter. LINK
• Stablecoins process over $400 million hourly, mostly outside US banking hours. LINK
• Fintech venture funding fell 21% to $10.6 billion as deals declined. LINK
• Generative AI adoption in finance surges, but teams avoid autonomous cash decisions. LINK
• Indian AI IPOs could add up to $100 billion in market value. LINK
• Copper requires $332 billion in mine investment to avert looming supply shortfalls. LINK