According to CNBC's Morning Squawk, stocks fell Wednesday on worries over AI-related debt loads, and September CPI came in hotter than expected, marking the 66th straight month above the Fed's 2% target. Chip stocks extended losses in Thursday premarket trading.
Correction (Oct 15): An earlier version said Wall Street opened lower Thursday with the S&P 500 and Nasdaq down more than 1% and CoreWeave down more than 15%. Those moves happened in Wednesday's session; on Thursday morning, futures and chip stocks were lower in premarket trading.
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Alphabet shares slid 10.2% in premarket trading after Q3 results, Reuters reported (Investing.com, updated 6:00 AM AST). Alphabet's release shows Search & other revenue of $63.35B, up 12%, and free cash flow of negative $9.065B; CNBC says Search came in below estimates and FCF was far worse than the $2.70B deficit analysts expected. Nasdaq 100 futures were down about 1% at 5:18 AM AST while Microsoft rose 3.6%, per Reuters.
According to reports, Hex has raised $100 million in a Series D at a $1.2 billion valuation while unveiling Hex 4.0. The funding gives the data platform resources to expand teams and push AI-agent workflows to more than 2,500 customers.
Tractian announced a $130 million Series D led by Sapphire Ventures and co-led by M&G's Catalyst, valuing the Physical AI company at $1.4 billion. The funding will scale its sensor-based platform for monitoring the health of industrial machinery across manufacturing, data centers, utilities and defense.
Richard Heart's detention in Istanbul preceded a roughly $246 million drop in HEX's market cap, Ledger unveiled its $849 Atom wallet, and Starknet put a post-quantum layer-1 move to a vote, per Cointelegraph's weekly digest.
Cohere announced the initial close of a Series E round targeting up to CAD $7 billion, which would value Cohere at CAD $35.7 billion if fully raised. The companies of Schwarz Group lead the round. Cohere calls it the largest private raise by a Canadian tech company.
