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Hi there, this is your daily ☕️ Finpresso.
In today's newsletter: 🚀 Musk is a trillionaire again as SpaceX jumps 💰 Banks launch record $60B AI chip deal ⚡ Schneider Electric buys PTC for $22.6B 🇨🇳 DeepSeek nears $12B raise led by Tencent, CATL 🌙 Moonshot AI hits $50B before Hong Kong IPO Plus: 🌍 10 macro stories, 🏢 9 corporate stories, and 📑 6 research & reports.
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📊 Before The Bell
 | Change over the last 24 hours · as of Oct 6, 2026, 5:55 AM ET |
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🚀 Musk is a trillionaire again as SpaceX jumps
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- SpaceX shares climbed nearly 8% yesterday to their highest since mid-June, lifting Elon Musk back above a $1 trillion net worth across his Tesla and SpaceX holdings.
- The rally followed a note on Sunday from Morgan Stanley, which called SpaceX "cheap" and set a $300 price target, about 75% above yesterday's close, citing Starship progress, AI product releases and cloud-rental contracts.
- The analysts urged buying before SpaceX's next Starship test flight and its late-October earnings; a successful upper-stage "catch" would be the biggest positive catalyst since the June IPO, which has since recovered roughly 58% off its early-August low.
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💰 Banks launch record $60B AI chip deal
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- Wall Street banks have begun syndicating a record $60 billion debt package to finance Anthropic's lease of Google-designed chips, the largest chip-financing deal yet as tech firms scramble to lock in AI computing power.
- Bank of America, Citigroup and Morgan Stanley launched the sale yesterday with $42 billion in senior loans backed by Broadcom's A-minus credit rating, followed by a riskier junior tranche in which Blackstone has already committed about $9 billion.
- The deal is seen as a test of lenders' willingness to fund capital-intensive AI ventures amid doubts over returns; because the junior tranche exposes lenders directly to Anthropic, banks may wait for the startup's planned IPO later this year before tapping wider markets.
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⚡ Schneider Electric buys PTC for $22.6B
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- Schneider Electric has agreed to buy Boston-based industrial software maker PTC for $22.6 billion, a rare software mega-merger in a year when AI-driven uncertainty has largely frozen sector dealmaking.
- The French conglomerate will pay $205 per share in cash, a 42.3% premium to PTC's closing price on Friday, rewarding shareholders of the maker of design and engineering software.
- The deal would be Schneider's largest-ever purchase, exceeding its $11 billion acquisition of Aveva in 2023, and marks its third billion-dollar-plus transaction this year.
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🇨🇳 DeepSeek nears $12B raise led by Tencent, CATL
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- DeepSeek, the Chinese AI startup, is close to raising at least 80 billion yuan ($11.93 billion) in a funding round backed by Tencent and battery maker CATL, Bloomberg reported today.
- Demand ran well past the 50 billion yuan the company first sought, potentially pushing the round close to double that target, after the September launch of its DeepSeek-V4.1-Flash model drew heavier investor interest.
- The financing ranks DeepSeek among the most heavily funded private AI companies and deepens China's push for an AI stack less reliant on U.S. technology, following its partnership with Huawei to build tools for Huawei's Ascend chips rather than Nvidia's.
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🌙 Moonshot AI hits $50B before Hong Kong IPO
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- Chinese AI startup Moonshot has reached a roughly $50 billion valuation in a new private funding round, setting the stage for a Hong Kong IPO that could come as early as the first quarter of next year.
- The figure is a sharp jump from the $31.5 billion the company was valued at earlier this summer, and it is weighing an offering that could raise as much as $5 billion, which would rank among Hong Kong's biggest tech listings.
- Backed by Alibaba and Tencent, Moonshot expects its annual recurring revenue to hit $2 billion by December, roughly double its current run rate, making the deal a public-market test of appetite for China's AI sector.
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NVIDIA's Founder Says Farmers Should Absolutely Use AI
“If I were a farmer, I would absolutely use AI.”
That’s Jensen Huang, founder and CEO of NVIDIA.
He’s pointing to one of AI’s biggest untapped opportunities: farming.
DIT AgTech is already putting AI to work with 500+ units deployed and 370,000 head on-platform.
𝘐𝘯 𝘮𝘢𝘬𝘪𝘯𝘨 𝘢𝘯 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵 𝘥𝘦𝘤𝘪𝘴𝘪𝘰𝘯, 𝘪𝘯𝘷𝘦𝘴𝘵𝘰𝘳𝘴 𝘮𝘶𝘴𝘵 𝘳𝘦𝘭𝘺 𝘰𝘯 𝘵𝘩𝘦𝘪𝘳 𝘰𝘸𝘯 𝘦𝘹𝘢𝘮𝘪𝘯𝘢𝘵𝘪𝘰𝘯 𝘰𝘧 𝘵𝘩𝘦 𝘪𝘴𝘴𝘶𝘦𝘳 𝘢𝘯𝘥 𝘵𝘩𝘦 𝘵𝘦𝘳𝘮𝘴 𝘰𝘧 𝘵𝘩𝘦 𝘰𝘧𝘧𝘦𝘳𝘪𝘯𝘨, 𝘪𝘯𝘤𝘭𝘶𝘥𝘪𝘯𝘨 𝘵𝘩𝘦 𝘮𝘦𝘳𝘪𝘵𝘴 𝘢𝘯𝘥 𝘳𝘪𝘴𝘬𝘴 𝘪𝘯𝘷𝘰𝘭𝘷𝘦𝘥. 𝘋𝘐𝘛 𝘈𝘨𝘛𝘦𝘤𝘩 𝘩𝘢𝘴 𝘧𝘪𝘭𝘦𝘥 𝘢 𝘍𝘰𝘳𝘮 𝘊 𝘸𝘪𝘵𝘩 𝘵𝘩𝘦 𝘚𝘦𝘤𝘶𝘳𝘪𝘵𝘪𝘦𝘴 𝘢𝘯𝘥 𝘌𝘹𝘤𝘩𝘢𝘯𝘨𝘦 𝘊𝘰𝘮𝘮𝘪𝘴𝘴𝘪𝘰𝘯 𝘪𝘯 𝘤𝘰𝘯𝘯𝘦𝘤𝘵𝘪𝘰𝘯 𝘸𝘪𝘵𝘩 𝘪𝘵𝘴 𝘰𝘧𝘧𝘦𝘳𝘪𝘯𝘨, 𝘢 𝘤𝘰𝘱𝘺 𝘰𝘧 𝘸𝘩𝘪𝘤𝘩 𝘮𝘢𝘺 𝘣𝘦 𝘰𝘣𝘵𝘢𝘪𝘯𝘦𝘥 𝘩𝘦𝘳𝘦: https://bit.ly/4bzuWCi
🌍 Macro News
- FinCEN drops 2023 proposal to regulate crypto mixers over legitimate-activity concerns. LINK
- Takaichi vows to control Japanese bond issuance and calm jittery markets. LINK
- BOJ may signal inflation target reached, strengthening expectations for December rate hike. LINK
- BIS chief warns debt makes central bank crisis responses harder and political. LINK
- Iran's oil minister resigns amid report of nearly $2 billion in missing revenues. LINK
- Trump temporarily waives diesel tax for highway drivers through year's end. LINK
- India says US trade talks have plateaued, leaving little room for concessions. LINK
- House China chair urges Fed to reconsider Hong Kong's dollar facility access. LINK
- Brazilian stocks surge as Flávio Bolsonaro becomes presidential favorite. LINK
- CFTC proposes crypto-market rules after Senate digital-asset framework effort failed. LINK
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🏢 Corporate News
- Jio targets $114 billion IPO valuation, below earlier expectations. LINK
- Alphabet nears billion-dollar nuclear power deal with Constellation Energy. LINK
- DayOne files for US IPO, testing demand for data-center listings. LINK
- Mynt plans IPO valuing GCash parent above $7 billion. LINK
- Paramount Skydance names leaders for merged company, which will be called Skydance. LINK
- Oracle healthcare cyberattack exposed sensitive data of nearly 20 million Americans. LINK
- C.H. Robinson to acquire rival RXO, combining freight brokerage networks. LINK
- Informa buys Clarion events organizer from Blackstone for £2.24 billion. LINK
- Stripe will expand stablecoin-linked cards to over 100 countries this year. LINK
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📈 Stocks
| ▼ Biggest losers | | Sunoco LP fell 6% after RBC Capital cut its price target to $68 from $75. LINK | | INNIO fell 5% as private equity-linked holder sold 103.5M shares. LINK | | C.H. Robinson Worldwide fell 11% after announcing a $5.8 billion RXO acquisition. LINK |
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📑 Research & Reports
- Aleph's budgeting benchmark report: shows how finance teams actually budget, with benchmarks you can hold your own process against. Download the free report
- Anthropic subscriptions offer over five times OpenAI's comparable mid-tier API value. LINK
- BofA strategists recommend shifting from AI bets toward consumer stocks amid crowding. LINK
- World Bank raises East Asia forecast on AI exports, warning reversal risks. LINK
- China-based wallets' direct stablecoin transfers surged 43-fold despite Beijing's crackdown. LINK
- Surveys show rising stablecoin interest in Asia and digital-asset ownership among wealthy. LINK
- Goldman forecasts 27% third-quarter S&P earnings growth, increasingly driven by AI firms. LINK
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📅 Market Calendar
 | Earnings · Economic events |
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