October 2, 2025
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OpenAI Valuation Soars to $500 Billion, Topping Musk’s SpaceX
OpenAI has completed a deal to help employees sell shares in the company at a $500 billion valuation, propelling the ChatGPT owner past Elon Musk’s SpaceX to become the world’s largest startup.
Current and former OpenAI employees sold about $6.6 billion of stock to investors including Thrive Capital, SoftBank Group Corp., Dragoneer Investment Group, Abu Dhabi’s MGX and T. Rowe Price, a person familiar with the transaction said.
That boosted the US company’s price tag well past its previous $300 billion level during a SoftBank-led financing round earlier this year.
Yahoo Finance reports.
🤖 S&P 500, Nasdaq futures rise as AI optimism grows, while Dow stalls amid US shutdown
US stock futures ticked up on Thursday, eyeing fresh record highs as investors welcomed an OpenAI boost to tech hopes and set aside a US government shutdown with no end in sight.
Nasdaq 100 futures led the cautious advance, up roughly 0.3%, while S&P 500 futures added 0.1%. Contracts on Dow Jones Industrial Average, which includes fewer tech stocks, wavered along the flat line. Yahoo Finance reports.
📊 Shares of credit bureaus fall as FICO rolls out direct mortgage score licensing
Shares of major credit reporting companies tumbled on Thursday after U.S. data analytics company Fair Isaac Corp unveiled a program that allows mortgage resellers to calculate and distribute its creditworthiness score directly to consumers.
This could pressure earnings and margins of three main U.S. credit bureaus Experian, Equifax and TransUnion, analysts said as they have been providing credit data and FICO scores to produce reports for mortgage underwriting. Reuters reports.
🏛️ US banks expect victory in capital requirements as Trump regulators revamp rules
As President Donald Trump's regulators revamp bank rules, big lenders expect their capital requirements could fall, in a stunning victory for the industry which faced a big hike under former President Joe Biden, according to senior industry executives.
Aiming to cut red tape that Trump's agency picks say is hurting the U.S. economy, they are working on the most sweeping overhaul of U.S. capital rules since the global financial crisis of 2008. Reuters reports.
🤖 Intel Shares Rise on Reported Talks to Add AMD as Customer
Intel shares rose on a report that it is in early discussions to add Advanced Micro Devices as a customer at its factories. The stock rose 6% to $35.46 after Semafor reported the news Wednesday, while AMD's stock remained roughly flat. Intel shares are up 77% this year.
It is unclear how much of AMD's manufacturing would shift to Intel if the two companies reach a deal, Semafor said Wednesday, citing people familiar with the companies. AMD currently works with Taiwan Semiconductor Manufacturing Corp. as its primary manufacturing foundry.
The U.S. government took a 10% stake in Intel in August. That same month, Softbank said it would invest $2 billion in the semiconductor company and, weeks later, Nvidia said it would invest $5 billion. MarketScreener reports.
🚙 Car executives fear a collapse in EV sales as US tax subsidy vanishes
It's a game-changer," Ford CEO Jim Farley said during a Detroit event on Tuesday, just hours before the federal subsidy expired. Farley said he would not be surprised if electric-car sales drop to 5% of total U.S. vehicle sales next month.
That would be about half the level from August - a monthly record as consumers hurried to take advantage of the credit - and among the lowest levels in several years.
"The EV market is going to collapse in October," said Christian Meunier, chairman of Nissan Americas. Japan's Nissan is still rolling out a redesigned version of its Nissan Leaf small EV in the U.S., but Meunier expects tough competition as rival automakers strain to find buyers for their electric cars.
"That competition is going to be super-brutal, because there is a lot of stock. Our competitors have built a lot of EVs," Meunier told Reuters in an interview Tuesday. MarketScreener reports.
💼 Berkshire Hathaway to buy Occidental’s OxyChem for $9.7 billion, in Buffett’s biggest deal in three years
Warren Buffett’s Berkshire Hathaway announced Thursday it reached a deal to buy Occidental Petroleum’s petrochemical unit, OxyChem, for $9.7 billion in cash.
The deal marks Berkshire’s largest since 2022, when it paid $11.6 billion for insurer Alleghany. It also comes at a time in which the conglomerate is sitting on $344 billion in cash, a record for the company.
Shares of Occidental rose 1.3% in premarket trading Thursday. CNBC reports.
(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.
1) CIGL: Concorde International Group
Total gain: +54.47%
2) DKI: Darkiris
Total gain: +43.74%
3) IVDA: Iveda Solutions
Total gain: +32.35%
4) FICO: Fair Isaac
Total gain: +12.9%
5) FRMI: Fermi
Total gain: +12.2%
The closing price of the top three market percent gainers trading near or above $3 on October 1.
Benzinga reports.
*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time
1) FRMI: Fermi
Total gain: +53.54%
The stock appeared to be moving on no notable news.
2) PALI: Palisade Bio
Total gain: +46.56%
The company announced the pricing of its underwritten public offering of 171,440,559 shares of common stock at $0.70 per share. Benzinga reports.
3) ANGX: Angel Studios
Total gain: +36.14%
The stock appeared to be moving on no notable news.
*Estimate and Actual numbers represent Earnings Per Share in US Dollars
ANGO: AngioDynamics
Q1 2026
Before Market Open
Estimate: -0.130
Actual: N/A
Time (ET) | Report | Period
8:30 AM - Initial jobless claims - September 27
10:00 AM - Factory orders - August
10:30 AM - Dallas Fed President Lorie Logan speech
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