Core Insights - The Quantamental Investor (TQI) aims to simplify and enhance the investing experience for individuals seeking financial freedom through active investing and risk management [2]. Group 1: Company Overview - TQI was established in July 2022 with a mission to make investing simple, fun, and profitable for all investors [2]. - The company offers premium equity research reports on Seeking Alpha, along with a research library and performance tracker [2]. - TQI provides features such as highly-concentrated, risk-optimized model portfolios tailored to different stages of the investor lifecycle [2]. Group 2: Community and Resources - TQI publishes investing insights and research through various channels, including a free newsletter called TQI Tidbits, Twitter, and LinkedIn [2]. - The community focuses on bold, active investing strategies while emphasizing proactive risk management [2].

Core Insights - The artificial intelligence (AI) infrastructure segment is experiencing significant growth, with global AI-powered data center infrastructure capital expenditures projected to reach approximately $7 trillion by 2030 [1] Company Summaries Alphabet Inc. (GOOGL) - GOOGL reported third-quarter 2025 earnings of adjusted $2.87 per share, exceeding the Zacks Consensus Estimate of $2.26 per share, and revenues of $87.47 billion, surpassing estimates by 2.95% [5][6] - The growth in earnings was driven by strong performance in AI-powered cloud businesses, leading to a raised 2025 capex forecast to $91-$93 billion [6][9] - AI-powered cloud revenue increased by 32% year over year to $15.16 billion, with a cloud-computing backlog of $155 billion [7][9] - The AI-induced search engine generated $56.56 billion in quarterly revenues, up 15% year over year [8] Microsoft Corp. (MSFT) - MSFT reported first-quarter fiscal 2026 earnings of adjusted $4.13 per share, beating the Zacks Consensus Estimate of $3.65 per share, with revenues of $77.67 billion, exceeding estimates by 3.62% [11][12] - The intelligent cloud business generated $30.9 billion in revenues, reflecting a 28.3% year-over-year increase, with Azure experiencing 40% growth [12][13] - Capex for the first quarter was $34.9 billion, primarily invested in AI-powered data center infrastructure [12] Meta Platforms Inc. (META) - META reported third-quarter 2025 earnings of adjusted $7.25 per share, beating the Zacks Consensus Estimate of $6.61 per share, with revenues of $51.24 billion, surpassing estimates by 3.63% [14][15] - AI-induced advertising revenues reached $50.08 billion, up 25.6% year over year, with a family daily active user count of 3.54 billion [15][17] - The company raised its 2025 capex expenditure to $116-$118 billion, driven by increased AI workloads [15][16] Industry Trends - The substantial investment in AI infrastructure is expected to transform various sectors, including automation, healthcare, energy, and cybersecurity over the next five years [18] - AI-powered data center chipset developers and original equipment manufacturers are anticipated to be major beneficiaries of this trend [19] - The rising demand for energy in the AI sector has positioned nuclear energy as a key solution for meeting global electricity needs and transitioning to cleaner energy sources [19]

Group 1 - OpenAI plans to submit an IPO application in 2026 and aims for a public listing in 2027 [1] - OpenAI has released a new safety reasoning model called gpt-oss-safeguard [1] - Nvidia has partnered with Palantir to advance practical applications of AI [1] Group 2 - Microsoft's CEO announced that the company's total AI computing power will increase by over 80% this year [3] - Amazon has launched its AI supercluster Project Rainier [3] - Zhiyuan has released a multimodal world model called Wujie·Emu3.5, capable of cross-scenario embodied operations [1] - TrendForce estimates that AI server shipments will grow by over 20% annually by 2026 [1]

Market Overview - US stock index futures are collectively down as investors digest trade negotiation results and earnings reports from major tech companies [1] - The Dow Jones index fell approximately 0.2% after reaching a record high during intraday trading, while the S&P 500 index remained flat and the Nasdaq index rose nearly 0.6% [1] - Market sentiment is influenced by Federal Reserve Chairman Jerome Powell's hawkish remarks, indicating that further rate cuts in December are not guaranteed [1][2] Technology Sector Performance - Alphabet's strong earnings led to an 8% pre-market stock price increase, while Meta and Microsoft saw declines of approximately 10% and over 2%, respectively, impacting overall market performance [2] - If tech earnings indicate faster-than-expected productivity gains related to AI, the Federal Reserve may be compelled to implement larger rate cuts than initially planned [2] Company News - OpenAI plans to submit an IPO application as early as the second half of 2026, with a potential valuation of around $1 trillion, aiming to raise at least $60 billion [3] - Tesla is recalling 6,197 units of its 2024 Cybertruck due to a potential issue with the installation of off-road light bars [3] - Novo Nordisk has made a proposal to acquire US biopharmaceutical company Metsera for $65 billion, with additional contingent payments based on clinical milestones [4] - Eli Lilly reported third-quarter revenue of $17.6 billion, a 54% year-over-year increase, and raised its full-year revenue forecast to between $63 billion and $63.5 billion [5] - Merck's third-quarter sales reached $17.276 billion, a 4% year-over-year increase, with net income of $5.785 billion, reflecting an 83% increase [6] - Volkswagen Group reported a third-quarter operating loss of nearly €1.3 billion, with vehicle deliveries of 2.199 million units, a 1% year-over-year increase [7] - TotalEnergies announced third-quarter revenue of $43.84 billion, with a net profit of $3.68 billion, and an adjusted net profit decrease of 2.3% year-over-year [8]

Market Overview - US stock index futures are all down, with Dow futures down 0.32%, S&P 500 futures down 0.35%, and Nasdaq futures down 0.55% [1] - European indices also show declines, with Germany's DAX down 0.18%, UK's FTSE 100 down 0.67%, France's CAC40 down 1.04%, and the Euro Stoxx 50 down 0.61% [2][3] - WTI crude oil prices fell by 0.86% to $59.96 per barrel, while Brent crude also dropped by 0.86% to $63.77 per barrel [4] Economic and Policy Updates - The meeting between Chinese President and US President Trump emphasized that economic and trade relations should be a stabilizing force rather than a point of conflict [5] - Federal Reserve Chairman Jerome Powell's comments on interest rate cuts have led to skepticism in the market, with the 10-year US Treasury yield holding steady at 4.08% after a previous spike [5] - Powell also stated that the current AI investment wave is fundamentally different from the internet bubble, highlighting that AI companies are rooted in profitability and real economic activity [6] Company Earnings and Performance - Roblox reported a record Q3 with 151.5 million daily active users, a 70% year-over-year increase, and bookings of $1.92 billion, exceeding analyst expectations [7] - Microsoft exceeded Q1 expectations with revenues of $77.7 billion, driven by a significant increase in capital expenditures related to AI [7] - Alphabet's Q3 revenue was $102.35 billion, up 16% year-over-year, with strong performance in its cloud division [8] - Meta's Q3 net profit fell 83% due to a one-time tax expense, despite a 26% increase in revenue to $51.24 billion [9] - Starbucks reported Q4 revenue of $9.57 billion, a 5.5% increase, with same-store sales returning to positive growth [10] - Shell's Q3 profit exceeded expectations, supported by strong oil and gas trading performance despite weak energy prices [11] - TotalEnergies' Q3 adjusted net profit fell 2.3% to $3.98 billion, meeting analyst expectations [12] - Stellantis reported a 13% increase in Q3 revenue to €37.2 billion, but issued a cost warning that affected stock performance [13] - Samsung Electronics' semiconductor division saw a 79% increase in Q3 operating profit, driven by AI demand [14] Future Outlook - OpenAI is reportedly preparing for an IPO that could value the company at $1 trillion, with plans to raise at least $60 billion [5] - Eli Lilly raised its full-year guidance due to strong sales from its weight loss and diabetes drugs, with Q3 sales reaching $17.6 billion [17] - Tesla plans to showcase its Cybercab model at the Shanghai International Import Expo in November [19]

Group 1 - Alphabet achieved a milestone by surpassing $100 billion in quarterly revenue for the first time, reaching $102.3 billion, a 16% year-over-year increase, driven by strong performance in cloud computing, AI, advertising, and subscription services [2][4][14] - Google Cloud revenue grew by 34% year-over-year to $15.2 billion, with over 70% of existing customers utilizing AI products, indicating robust demand for AI solutions [10][14] - Alphabet's net profit increased by 33% to $35 billion, with earnings per share rising by 35% to $2.87, reflecting strong operational performance despite significant AI-related expenditures [17][20] Group 2 - Microsoft reported a quarterly revenue of $77.7 billion, an 18% year-over-year increase, with intelligent cloud revenue exceeding $30.9 billion, driven by a 40% growth in Azure and other cloud services [6][23][26] - The net profit for Microsoft was $27.7 billion, a 12% increase year-over-year, although impacted by higher expenditures related to AI infrastructure and investments [28][34] - Microsoft plans to increase its AI capacity by 80% this year, with significant capital expenditures aimed at expanding data center capabilities, highlighting its commitment to AI and cloud integration [32][34] Group 3 - Both Alphabet and Microsoft are significantly increasing their capital expenditures towards AI infrastructure, with Alphabet projecting between $91 billion and $93 billion for 2025, and Microsoft planning to nearly double its data center capacity [20][36] - The financial results from both companies underscore the growing importance of AI as a key driver of revenue and profitability, marking a shift towards a new economic paradigm driven by intelligence and computing power [36]

Group 1 - US stock index futures experienced slight declines, with Nasdaq futures down 0.35%, S&P 500 futures down 0.24%, and Dow futures down 0.33% [1] - Major European indices collectively fell, with Germany's DAX down 0.15%, UK's FTSE 100 down 0.61%, France's CAC down 0.91%, and the Euro Stoxx 50 down 0.52% [1] - OpenAI is reportedly planning to apply for an IPO as early as 2026, with a potential valuation of up to $1 trillion [1] - Alphabet, Google's parent company, reported record Q3 revenue of $102.3 billion, with a 34% year-over-year increase in cloud computing revenue [1] - Microsoft reported Q1 FY2026 revenue of $77.67 billion and earnings per share of $3.72, both exceeding expectations; however, Azure and other cloud revenue fell short of buyer expectations [1] - Meta's Q3 revenue was $51.2 billion, with net profit declining to $2.7 billion due to one-time tax expenses; the company raised its full-year capital expenditure guidance [1] Group 2 - Eli Lilly reported a 54% year-over-year revenue increase to $17.6 billion in Q3, raising its full-year revenue forecast [2] - Merck's Q3 sales reached $17.28 billion, with adjusted earnings per share of $2.58, both exceeding expectations [2] - Stellantis reported a 13% year-over-year revenue increase to €37.2 billion in Q3, noting that US tariffs have caused approximately €1 billion in losses this year [2] - Shell's Q3 adjusted profit was $5.43 billion, surpassing expectations; the company announced a $3.5 billion stock buyback plan [2] - ServiceNow reported Q3 revenue of $3.41 billion, with adjusted earnings per share of $4.82, both exceeding expectations; the company plans a 1-for-5 stock split [2] - eBay's Q3 sales grew 9% year-over-year to $2.82 billion, with adjusted earnings per share of $1.36, exceeding expectations [2] - Carvana, a US used car retailer, reported a 54.5% year-over-year revenue increase to $5.65 billion in Q3, with earnings per share of $1.03, which fell short of analyst expectations [2] - KLA Corporation, a semiconductor testing equipment manufacturer, reported a 13% year-over-year revenue increase to $3.21 billion in Q1 FY2026, with adjusted earnings per share of $8.81, exceeding expectations [2] - Novo Nordisk is reportedly increasing its bid for Metsera, while Pfizer's $4.9 billion acquisition may face uncertainties [2] Group 3 - S&P has downgraded Strategy's credit rating to junk status at B-, citing significant "currency mismatch" risks [3]

今天要说的比较多，一个个来说。 1、中美谈判 今天大家最关注的，还是领导谈判的结果，我们只提跟芯片相关的，由于川普之前预热了很久，说 是要谈英伟达的Blackwell，国内外都在传B30A要放开的事，结果会后又发了下面内容： Trump: China Will Be Discussing Chips With Nvidia Trump: We're Not Talking About the Blackwell 真的是让人搞不懂是啥意思，Hopper已经停产，不应该再谈Hopper的单子了，有朋友说可能还是 B30A，他指的Blackwell应该是B200/B300，不管怎样，我们也只能等待后面的消息。 2、万亿OpenAI准备上市 根据路透社的消息， OpenAI 正启动IPO筹备工作，初步估值瞄准 1 万亿美元，计划融资规模不低于 600 亿美元。公司已明确将 2027 年作为上市目标年份. 关于OpenAI上市的事，最近其实传了挺久了，1万亿目标，跟老黄说的也是一样的，说明老黄上个月 投资OpenAI时就谈过这个计划了，但投资人可能更想看到一份完整的财务报告。 2025 年OpenAI营收预计约 130 ...

Markets are in the midst of the busiest week for third quarter earnings, with results from several Big Tech companies highlighting the calendar. So far, the earnings season is off to a positive start. As of Oct. 24, 29% of S&P 500 companies have reported results, according to FactSet data, and analysts are expecting a 9.2% jump in earnings per share during the third quarter. If that figure holds, it would mark the ninth straight quarter of positive earnings growth but a deceleration from the 12% earnings ...

Key TakeawaysMastercard (MA) and Kellanova (K) reported robust Q3 earnings, with Mastercard surpassing estimates across key financial metrics, including adjusted EPS of $4.38 and net revenue of $8.6 billion.Alphabet (GOOGL) surged 7.5% in pre-market trading following strong Q3 results that beat expectations for EPS, revenue, and cloud revenue, while Meta Platforms (META) plunged 9% due to a significant profit miss and a JPMorgan price target reduction.Roblox (RBLX) delivered an impressive Q3 performance, wi ...