Navy Stops Buying Aevex Autonomous Speedboats Over Performance Shortfalls
U.S. Navy stops new purchases of Aevex GARC speedboats citing hardware issues and cheaper alternatives after $136.8 million in spending.
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IBM Raises Software Outlook as Delayed Deals Close and Q3 Results Beat Estimates
IBM lifted its software growth forecast to 7-8% as delayed deals closed and Q3 revenue and earnings topped expectations.
Meta Tightens AI Capex Forecast, Moves to Issue Non-Voting Shares After Beating Revenue Estimates
Meta beat Q3 estimates with $64.6B revenue and will issue new non-voting Class C shares to fund AI growth without diluting Zuckerberg’s control. Capex raised to $135–145B.
Tesla Beats Q3 Estimates on Delivery Rebound, Energy Growth Despite AI Spending
Tesla reported $28.05B Q3 revenue, topping forecasts on a delivery rebound and energy storage growth despite heavy AI and robotaxi spending.
TD Cowen Downgrades Chipotle to Hold, Cuts Target to $32 on Soft October Sales
Chipotle faces a tougher path after TD Cowen’s downgrade to Hold and target cut to $32 on weak early Q4 sales trends.
Muse Outpaces ChatGPT in Early Retention as Meta’s AI Agent Gains Traction
Meta’s Muse AI agent has reached 10.9 million downloads since September, with strong US growth and better retention than ChatGPT.