TREE NEWS update: Microsoft’s CFO said roughly three-quarters of the company’s capital expenditure is allocated to short-lived assets, primarily CPUs and GPUs, including higher memory and storage costs. The company also expects about 30% of its cloud business’s remaining performance obligations (RPO) to be recognized as revenue over the next 12 months.
TREE NEWS update: The Fed left rates unchanged on Wednesday, Oct. 28, with Chair Warsh holding a press conference; the US rate-cut winners index rose 0.08% to 90.20 points. US stocks staged a W-shaped reversal by the close.
TREE NEWS update: Datavault AI said it has been unable to withdraw its Bitcoin from Biconomy since June, sending its stock sharply lower. The company also said it will restate four financial reports tied to a $150 million Scilex deal. The disclosure covers both the inaccessible Bitcoin holdings and the restatement of prior filings linked to the transaction.
TREE NEWS update: Google said all of its TPU inventory is allocated to customers that have already signed contracts, indicating demand for its custom AI chips is outpacing available supply. The company did not disclose the number of chips involved or the value of the contracts. The disclosure underscores how committed orders, rather than spot availability, now govern access to Google’s AI accelerator capacity.
TREE NEWS reports: Marvell Technology is in advanced talks to acquire data-center optical communications equipment maker Lumentum, with a deal potentially announced as soon as next week. Lumentum has a market value of about $83 billion and Marvell about $221 billion. After the report, Marvell shares fell about 8% and Lumentum rose about 17% in after-hours trading. Nvidia invested $2 billion in Lumentum earlier this year.
TREE NEWS reports: The Bloomberg Electric Vehicle Price Return Index rose 1.25% to 2,950.55 points on Wednesday, October 28, holding in a narrow high range through the Asia-Pacific morning session since 09:30 Beijing time. Among components, Ola Electric Mobility Ltd. gained 5.34%, Porsche P911 added 4.15%, Ballard Power Systems rose 3.65%, Hesai ADR climbed 3.6% and WeRide ADR advanced 3.43%.
TREE NEWS reports: SK Hynix’s quarterly revenue exceeded 100 trillion won for the first time, the chipmaker reported, as AI-driven memory demand overwhelmed supply. The company said memory demand will outrun supply through 2030, with DRAM and HBM sold out through 2029. The record quarter underscores the supply tightness in high-bandwidth memory that underpins AI data-center buildouts.
TREE NEWS reports: FTSE China A50 index futures closed down 0.06% at 12,984 points in continuous overnight trading. The modest decline marks a subdued overnight session for the benchmark tracking China’s largest A-share companies.
TREE NEWS reports: At the New York close on Wednesday, October 28, S&P 500 futures finished up 0.04% and Dow futures gained 0.42%, while Nasdaq 100 futures slipped 0.19%. Russell 2000 futures rose 0.73%, outpacing the major indices.
TREE NEWS reports: Alphabet’s future commitments, leases and purchase obligations have surpassed $1 trillion, the Google parent company disclosed. The figure covers contractual obligations the company has committed to in the future, spanning lease agreements and procurement. No breakdown of the total was provided.
TREE NEWS reports: Marvell Technology is in talks to acquire data-center optical module maker Lumentum Holdings, with the potential deal expected to be announced as soon as next week. Terms of the transaction were not disclosed. Lumentum makes optical components used in data-center interconnects.
TREE NEWS update: Alphabet said on its earnings call that it expects full-year capital expenditure of $195 billion to $205 billion, versus analysts’ estimate of $202.21 billion. The guidance came as Alphabet’s Class A shares extended their after-hours decline to 10%.
TREE NEWS reports: Google allocated $8.2 billion in other income to offset a decline in the value of its stake in SpaceX, the space exploration company owned by Elon Musk. The move was disclosed as a reallocation of other income tied to the SpaceX share price drop.
TREE NEWS reports: ServiceNow reported third-quarter revenue of $4.11 billion, slightly above the $4.09 billion consensus, with subscription revenue of $3.99 billion, up 21% year over year. Adjusted earnings per share came in at $1.00, below analysts’ $1.02 estimate, and the company’s fourth-quarter guidance missed expectations. Shares fell as much as 14% in after-hours trading as the sales outlook renewed concerns about AI’s impact on the software industry.
TREE NEWS reports: Nasdaq 100 stock index futures rose 1% during after-hours trading following the US market close. The move in the futures contract came after the regular session ended, with the index futures reaching the 1% gain level in post-market trading.
TREE NEWS reports: DoorDash’s acquisition of Instacart could be announced as soon as Thursday morning, Eastern Time. No purchase price or other terms were disclosed. Both companies are U.S. delivery platforms.
TREE NEWS update: Alphabet CEO Kurian joined the company’s analyst conference call, the parent company of Google said. No further details on the agenda, financial figures or statements made during the call were provided. The attendance was noted in the material without additional context.
TREE NEWS reports: A US software industry exchange-traded fund dropped 3% in after-hours trading. The move marks a sharp post-session decline for the software segment of the US equity market, with no further details disclosed in the available material.
TREE NEWS reports: Chipotle reported third-quarter revenue of $3.3 billion, topping the $3.29 billion analysts had expected. The burrito chain’s quarterly sales came in slightly above consensus.
TREE NEWS reports: Honeywell Aerospace Inc. (HONA) shares rose 7.3% in after-hours trading. No further details were provided.