DailyEdge

The company will receive up to $6.6 billion in CHIPS Act funding to support its $65 billion investment in three advanced fabs in Arizona. The facilities mark the largest greenfield foreign investment in U.S. history, with the first set to open next year.

The company shares rose 5% after the company reaffirmed its 2030 revenue target of €44-60 billion, calming investor concerns following a recent profit warning. The chip equipment giant anticipates strong AI-driven demand, forecasting robust growth through advanced lithography innovations.

SoftBank's Japanese telecoms unit will receive the first chips using Nvidia's latest Blackwell design for its supercomputer, the California-based chip designer said, as Masayoshi Son looks to ride the artificial intelligence boom.

Bayer’s shares dropped 8% in Frankfurt after warning of weaker-than-expected agricultural markets and pricing pressures in crop protection, cutting its EBITDA forecast. The company remains optimistic about its pharma business hitting the upper end of its 2024 targets.

Toyota revamps its China strategy, aiming for 2.5 million vehicles a year by 2030 to stay competitive with local EV giants. The plan empowers local teams and boosts production efficiency to solidify its place in the world’s top car market.

Chinese stocks slumped as investors saw the latest $840 billion local debt increase and 4 trillion yuan bond issuance as underwhelming. Experts speculate Beijing might hold back stronger measures until there’s more insight into potential policy shifts under a new U.S. administration.

Moderna posted an unexpected profit of $13 million in Q3, driven by robust COVID-19 vaccine sales and strategic cost reductions. Despite lagging RSV vaccine sales, the company reaffirmed its annual revenue outlook and plans to fast-track future vaccine approvals.

Stocks surged as Trump claimed early victory, with Tesla rising 11% and Trump Media 30% amid investor anticipation of a pro-business administration. The Russell 2000 small-cap index and major banks rallied, while renewable energy shares slumped on fears of regulatory rollbacks.

The company reported a record $144 million profit and raised its revenue forecast, driven by high demand in the U.S. for its AI solutions. Q3 sales grew 30% to $725.5 million, exceeding analysts’ expectations, as U.S. commercial revenue surged 54% and government business jumped 40%.

Warren Buffett's Berkshire Hathaway sold an additional 25% of its Apple shares in Q3, reducing its position to about 300 million shares. This move is part of a broader strategy to increase cash holdings, which reached $325.2 billion by the end of the quarter, despite Apple's year-to-date stock increase of 20%.