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Industry

U.S. big tech kicks off earnings season, giving clues to Korean memory chip outlook for next year

U.S. big tech companies have begun reporting third-quarter results that could signal the scale of Korean memory makers’ orders next year. Investors are watching for AI capital spending plans as much of that investment goes into AI servers that use memory chips. Meta reported heavy spending and lifted the low end of its full-year capex outlook. Analysts also cite pressure on cash flow and mixed market views on AI profitability and funding risks.

Crypto

16 U.S.-listed companies including Goldman Sachs and Microsoft oppose tokenised versions of their shares

Tokenised stock trading is growing quickly in overseas markets, but major U.S.-listed companies are opposing the tokenisation of their shares, slowing moves into regulated U.S. markets. CNBC reported that companies including Goldman Sachs, Microsoft, Qualcomm, Caterpillar, McDonald\'s, Western Digital and Alphabet objected to tokenised versions trading on OKXICE, taking the total to 16 firms. Control over issuance and protection of shareholder rights have emerged as key issues.

Mobility

Waymo pushes to scale robotaxi fleet to 20,000, eyes global market beyond U.S.

Alphabet self-driving unit Waymo is pursuing a plan to expand its robotaxi operation to five times its current scale, aiming to accelerate growth beyond the United States. Waymo is reviewing increasing its autonomous vehicles from about 4,000 to 8,000 by end-2026 and to 20,000 by end-2027. It is testing in London and Tokyo and plans expansion to Canada, Singapore and Spain. Waymo also secured a $5 billion loan.