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Hi there, this is your daily ☕️ Finpresso.
In today's newsletter: 🛢️ Trump says Russia-Ukraine energy ceasefire agreed but unconfirmed 🏦 New committee will investigate Fed governor Lisa Cook 🛒 Amazon may buy AI startup Decart for $7B 🏢 Nvidia eyes bigger stake in Reflection AI 📦 Super Micro contractor admits routing Nvidia chips to China Plus: 🌍 9 macro stories, 🏢 10 corporate stories, and 📑 6 research & reports.
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📊 Before The Bell
 | Change over the last 24 hours · as of Oct 12, 2026, 6:08 AM ET |
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🛢️ Trump says Russia-Ukraine energy ceasefire agreed but unconfirmed
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- President Donald Trump said yesterday that Russia and Ukraine have agreed to an immediate energy ceasefire, posting the claim on Truth Social without spelling out the terms or how it would be enforced.
- The announcement gave no detail on which facilities are covered, how long the pause lasts, or any system for checking compliance, and Reuters reported neither Kyiv nor Moscow immediately confirmed it.
- Ukrainian officials said they learned of the statement by reading it, and Zelensky's earlier offer to halt strikes on Russian diesel sites was conditional on Russia stopping first, leaving reciprocity, not a signed deal, as the open question.
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🏦 New committee will investigate Fed governor Lisa Cook
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- President Trump has reopened his push to remove Federal Reserve governor Lisa Cook, forming a committee on Friday to investigate whether she made false statements on at least one mortgage document.
- The panel, staffed by Trump adviser Kevin Hassett and two federal officials, will hold a November 5 White House hearing, stemming from claims Cook named two different homes, in Michigan and Georgia, as her primary residence weeks apart.
- Cook, appointed in 2022, survived Trump's 2025 firing attempt when Chief Justice Roberts upheld the Fed's "for cause" removal protections; her lawyers say there is no valid cause and vow to challenge this "latest pretext" to preserve the Fed's independence.
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🛒 Amazon may buy AI startup Decart for $7B
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- Amazon is in talks to buy AI startup Decart in a deal that could be worth about $7 billion, the Wall Street Journal reported yesterday, citing people familiar with the discussions.
- The price marks a sharp step up from the roughly $4 billion valuation Decart carried in May; the startup makes software that lets developers move easily between different AI chips and builds models that generate 3D environments.
- The talks come as Amazon pushes its own AI chip, Trainium3, as an alternative to Nvidia, having given Decart early access to the chip in 2025, with the Journal saying a deal could come together soon.
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🏢 Nvidia eyes bigger stake in Reflection AI
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- Nvidia is in talks to deepen its stake in or acquire Reflection AI, an open-source startup it already backs, the Financial Times reported on Saturday, citing people with direct knowledge.
- Nvidia has already put $800 million into the startup, which was raising fresh capital at a $25 billion valuation before the new money, according to earlier comments from chief executive Misha Laskin.
- Any deal could take the form of an acqui-hire, hiring staff and licensing technology rather than a full takeover, potentially sidestepping a lengthy regulatory review, though the talks are early and could still collapse.
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📦 Super Micro contractor admits routing Nvidia chips to China
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- A former Super Micro contractor, Ting-Wei "Willy" Sun, pleaded guilty in a Manhattan federal court on Thursday to illegally routing Nvidia AI servers to China, exposing Washington's difficulty policing restricted technology as it passes through third countries.
- Prosecutors say a Southeast Asian intermediary bought nearly $2.5 billion of servers across 2024 and 2025, with at least $510 million secretly shipped to China in weeks in 2025 using falsified paperwork, repackaging, and dummy equipment to fool inspectors.
- The case lands amid booming demand, TrendForce sees AI-server shipments up almost 31% this year, but CSIS warns that losing China sales would dent US chipmakers' revenue and research budgets, while tighter curbs could push Chinese buyers toward domestic alternatives.
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Can Robotics Make Regenerative Farming Scalable?
Greenfield Robotics is on a mission to give farmers alternatives to herbicide-dependent weed control. BOTONY is the beginning of a broader robotic farming system designed for a wider range of applications in the field.
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🌍 Macro News
- EU caps Chinese hybrid imports at 350,000 annually for four years. LINK
- EU backs 46 strategic projects to secure critical minerals, costing €21 billion. LINK
- Iran attacks 11 tankers in Hormuz, most since the war began. LINK
- Hurricane Isaias shut 1.3 million barrels daily of Gulf crude output. LINK
- China imports record gold as central bank buying extends to 23 months. LINK
- CFTC seeks to regulate event contracts under existing swaps rules. LINK
- US will probably seize $1 billion in Iran-linked crypto this week. LINK
- Americans' assessment of current economic conditions hits a record low, weakening sentiment. LINK
- Houthi strikes kill 12 and injure 309, shutting two Saudi airports. LINK
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🏢 Corporate News
- Netflix shares rise after report company plans global workforce cuts. LINK
- TypeSafe AI raises $870 million at a $7.5 billion valuation. LINK
- Ramp reaches $60 billion valuation in latest funding round, report says. LINK
- Tesla drops Full Self-Driving name in Europe amid regulatory concerns. LINK
- Ledger confirms implant in customer wallet amid suspected crypto thefts. LINK
- Isomorphic Labs reportedly seeks funding at a $40 billion valuation. LINK
- Son seeks up to $100 billion from Gulf investors to fund AI. LINK
- Blockchain.com seeks US licenses for prediction markets and crypto derivatives. LINK
- Standard Chartered launches institutional custody for Ripple's RLUSD stablecoin in Dubai. LINK
- Kraken parent wins Dubai approval for dirham-denominated crypto trading. LINK
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📈 Stocks
| ▲ Biggest winners | | Moderna rose 14% after positive Phase 3 melanoma results for cancer vaccine intismeran autogene and Nasdaq-100 index return. LINK |
| ▼ Biggest losers | | AST SpaceMobile fell 10% after SpaceX's $8 billion 800 MHz spectrum deal. LINK | | Verizon Communications fell 9% after SpaceX agreed to buy Grain Management's nationwide 800 MHz spectrum for Starlink Mobile. LINK |
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📑 Research & Reports
- Build 10 finance tools without an engineer: walks through building your own models and internal tools using AI. From Aleph. Download the free playbook
- Four-hour batteries undercut gas turbines for data centers across 43 markets. LINK
- Nearly one-fifth of US families fell behind on loan payments. LINK
- UBS says AI investment focus shifts toward power, data centers and financing. LINK
- Watchdog warns stablecoin oversight gaps and AI cyber threats threaten finance. LINK
- Goldman raises 2026 Brent forecast to $90 amid persistent supply risks. LINK
- IMF says AI spending supports growth and Asian hardware suppliers. LINK
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📅 Market Calendar
 | Earnings · Economic events |
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