US stocks slid yesterday as new details about OpenAI revenue spooked investors

Euro is on track to fall for a fifth week as it trades near a 17-month low

TSMC beat Q3 revenue estimates on record $46.7B in sales, up 50% YoY, due to ‌surging demand for AI applications (RT)

PepsiCo beat Q3 earnings and revenue estimates but cut its earnings forecast as its North American business continues to lag (CNBC)

Full calendar here

Marco Rubio has been delivering banger after banger every time he steps on a podium, not to mention he's one of the most effective and successful picks of Trump's presidency. How is he not equal to JD Vance here??

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Goldman will pay top execs $500M in special bonuses (FT)

Trump says US 'will not attack Iran' before midterms (FT)

Chinese bonds become source of cheap money for global borrowers (BBG)

Japan deal drought cuts IPO fundraising to lowest in 14 years (BBG)

Private credit firms see rare growth shortcut with BDCs for sale (BBG)

Apollo has traded $35B since it began making markets in private credit (BBG)

Oracle, Broadcom, and SpaceX seek mega debt deals to fund AI chips (WSJ)

Arini Capital is down 16% YTD (WSJ)

30% options pop in mere minutes shows power of Discord 'finfluencers' (BBG)

Anthropic IPO investors struggle to put a price on AI risk (BBG)

OpenAI ARR is $20B less than previously signaled (FT)

New Apple CEO John Ternus named Steve Smith as new M&A chief (BBG)

Larry Ellison invested $17B in son's Warner Bros. takeover (BBG)

AI pricing lawsuit against McDonald's raises new antitrust questions (RT)

NFL asked SCOTUS to let states regulate prediction markets (BBG)

US banned Microsoft from sponsoring foreign workers for residency (FT)

Fed fined Amex $350M for insufficient anti-money laundering program (RT)

EY challenges Deloitte in outsourcing as revenue growth accelerates (FT)

US will livestream firing squad execution of Fort Hood shooter (RT)

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$100B-listed Starbucks is exploring a takeover bid for $40B-listed Chipotle 

Italian insurance giant and parent Generali is preparing takeover bid for $8.5B-listed private bank Banca Generali

Italian holding group Caltagirone rejected Italian lender BMPS' bid for $25B-listed peer Banco BPM and Banca Generali

French lender Credit Agricole also did not tender its stake in BMPS' bid for Banco BPM 

Carlyle's deal to acquire the $10B worth of international assets of sanctioned Russian oil giant Lukoil expired

Coca-Cola is seeking to unwind its $5B acquisition of UK coffeehouse Costa ‌Coffee after an earlier sales process this year failed

RBC Global Asset Management will vote against the $4.8B breakup and sale of Canadian industrial REIT H&R REIT

KKR-backed Crescent Energy will acquire Devon Energy's drilling portfolio in Texas for $4.2B

Chevron will divest its stakes in ​Hess Midstream and DJ Basin crude oil ‌midstream assets as part of a broader restructuring that will see it take a $3B-$4B hit

Investment firms Elliott and Siris are exploring a $2B sale of infrastructure software provider Gigamon

Drugmaker Viatris will buy Pacira BioSciences for $1.65B cash at a 45% premium

Management led by CEO Moussa Diao and trading manager Herve Bouvet acquired Africa-focused trader Oryx Energies for $1B in an MBO

Italian engineering company Trevi Finanziaria Industriale may reject an improved $370M cash takeover offer from larger peer Webuild as undervalued

South African miner Gold Fields will acquire the Kambalda Nickel Concentrator and related rights in Western Australia from global miner BHP

SpaceX will acquire 100% of PE firm Grain Management's nationwide low-band spectrum portfolio

Porsche raised its stake in German auto racing team Manthey Racing to 67%

Chinese AI agent startup Manus raised a $500M funding round co-led by Boyu Capital ​and IDG Capital after being unwound from Meta

Oratomic, a quantum computing startup, raised a $475M Series B at a $5.4B valuation co-led by ARCH Venture Partners, Spark Capital, Khosla Ventures, Index Ventures, General Catalyst, and Bezos Expeditions 

Atomic Machines, a company building micro-machines with AI and programmable manufacturing, emerged from stealth with $250M from One Investment Management, Gigafund, XTX Ventures, Valor Equity Partners, University of California, and others

Voltus, a virtual power plant operator, raised a $225M Series D led by Generation Investment Management 

Arena, an AI evaluation company, raised a $200M Series B at a $3.1B valuation co-led by Lightspeed Venture Partners and Khosla Ventures

VEIR, a designer and manufacturer of superconducting power delivery systems for AI data centers, raised a $110M Series C co-led by Matter Venture Partners and Tyche Partners

Gallatin AI, an AI-native military logistics company, raised a $50M Series A from 8VC, Silent Ventures, and others

Fortastra, a developer of maneuverable spacecraft for on-orbit security, raised a $30M Series A led by First In

Catalyst, an AI trading agents startup, raised a $30M seed round led by Sequoia

Rein Security, the AI-native runtime security platform for enterprises, raised a $25M Series A co-led by Glilot Capital and Sienna Venture Capital

Solidigm, the flash memory unit of Korean chip darling SK Hynix, picked banks for a US IPO that could raise $10B at a $100B valuation

Nvidia-backed data center firm Firmus shelved its record $5.5B Australia IPO after low demand and is weighing a private funding round instead

Belron, the windshield giant of Belgian conglomerate D'Ieteren Group, picked banks for a record Europe IPO that could fetch a $35B valuation

RNA-focused biotech Sanegene Bio confidentially filed for a Hong Kong IPO

Avaada Electro, the Brookfield-backed solar manufacturing arm of Indian power firm Avaada Group, plans to launch its $785M India IPO next month

Malaysian chip firm SQ Advanced Interconnect is considering raising $75M at a $300M valuation in a Malaysia IPO in Q1

Nvidia-backed AI drug developer Iambic Therapeutics is seeking to raise $160M in its IPO

UK fintech Revolut is targeting a US primary listing

Chinese big tech giant Tencent is considering another $5B offshore bond sale

Waymo raise the size of its debut debt raise to $5B

Mexican airport Aeropuerto de Cancún completed a $1.8B senior notes offering led by JPMorgan

Investors in Guggenheim Partners pulled $2.4B from its four largest mutual funds last month after CEO Mark Walter came under federal investigation

Healthcare PE firm Aphias Capital raised $1.05B for its debut fund

Healthcare-focused PE firm Sheridan Capital Partners raised $1.35B across two new funds

Blackstone raised $1B for a private credit CV for assets in its 2022 vintage led by Allianz

Energy Capital Partners raised an $834M single-asset CV for Next Wave Energy Partners anchored by GCM Grosvenor, Phoenix Insurance, Ardian, StepStone, and North Hudson Resource Partners

Ex-a16z partner and Trump AI advisor Sriram Krishnan is seeking to raise $500M for a new VC fund focused on growth-stage AI startups building in national security

Distressed credit investor Corre Partners raised $220M for a targeted $650M third fund

Impact investor Encourage Capital is raising a new India-focused PE fund

While up dramatically YoY, new user acquisition of Starlink (SPCX) has slowed, stunting growth

Historically, Apptopia's MAU estimates have tracked Starlink's reported subscriber milestones

Charles Schwab says 64% of millennials plan to buy crypto

Crypto market inflows hit $50B this year

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FT published an interesting piece on how hedge fund leverage has become Wall Street bank's cash cow.

Also, Bloomberg found that long-shot trades are dominating trading on popular prediction market platforms. No matter how well the information is priced, there's always gonna be some degen blowing it all away.