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News brief · 2026-10-29

Amazon.com (AMZN) reports $201.9 billion in Q3 sales and guides to $240 billion-$247 billion in Q4 revenue | market news, Oct 29, 2026

AI monetization concerns, strong U.S. economic data, rising inference-chip investment, and a heavy post-earnings slate drove today’s market narrative.

News

Google unveils Gemini 4 Carbon for long-horizon coding and cybersecurity

Google DeepMind announced Gemini 4 Carbon on October 28, calling it its strongest model to date and reporting scores of 88.2% on SEC-bench Pro, 54.8% on ExploitGym, and 71.0% on CWE-bench. Initial access is limited to cyber defenders and trusted partners. **Why it matters:** The release increases competitive pressure in agentic coding and cybersecurity while Google keeps access gated because of the model’s capabilities.

Google launches a Connected Apps Platform for Search and Gemini

Google launched a preview platform that lets developers build and manage integrations for both Search and the Gemini app using cloud-hosted MCP servers or Android MCP through AppFunctions APIs. **Why it matters:** Google is positioning Search and Gemini as shared agent platforms where third-party services can be executed directly rather than merely summarized.

OpenAI adds promotional API credits for eligible Pro and Business subscribers

OpenAI said eligible ChatGPT Pro and Business subscribers can activate promotional API credits through a linked API organization. The company also began rolling out U.S. beta texting for its “dots” through iMessage or RCS, with Linq providing messaging services. **Why it matters:** The update lowers the barrier for existing subscribers to build API-based applications and extends OpenAI assistants into messaging workflows.

FuriosaAI raises $620 million to expand inference-chip production

South Korean AI-chip company FuriosaAI announced a $620 million Series D at a $2.9 billion post-money valuation. It said its RNGD accelerator is in mass production, with plans to produce 20,000 cards in 2026 and more than double that output in 2027. **Why it matters:** The financing shows continued investor appetite for specialized, lower-power inference hardware as AI serving costs become a larger competitive factor.

Marvell reportedly nears deal to acquire Lumentum

MarketWatch reported that Marvell Technology was close to buying optical-networking equipment maker Lumentum. Marvell shares fell 12% in premarket trading to $221.70, while Lumentum shares rose almost 5.5% to $964. **Why it matters:** A potential combination would link Marvell’s data-center connectivity business with Lumentum’s optical technology as AI clusters require higher bandwidth.

Microsoft plans bond offering of up to $25 billion amid AI infrastructure spending

Microsoft entered the market with a hyperscaler bond deal containing 10 tranches maturing from two to 40 years, according to Informa Global Markets. MarketWatch reported that the offering could total as much as $25 billion. **Why it matters:** The financing highlights how hyperscalers are increasingly using debt markets to fund AI infrastructure while investors scrutinize the returns on that spending.

Airlines compete to add SpaceX’s Starlink in-flight connectivity

MarketWatch reported that more airlines are seeking to add Starlink service to their fleets as passengers demand faster onboard internet. United CEO Scott Kirby called Starlink “the biggest competitive advantage” for airlines, while Citi analyst John Godyn described 2027 as the “Year of Starlink” for U.S. airlines. **Why it matters:** Wider airline adoption could strengthen Starlink’s commercial position and increase competitive pressure on traditional aviation connectivity providers.

U.S. GDP grows 3.4% in Q3 as consumer spending and investment strengthen

The Bureau of Economic Analysis reported that real U.S. GDP increased at a 3.4% annualized rate in the third quarter, up from 2.2% in the second quarter. The advance estimate cited increases in investment, consumer spending, and government spending, partly offset by lower exports. **Why it matters:** Stronger-than-expected growth gives the Federal Reserve less room to ease policy even as markets remain concerned about elevated inflation.

September PCE inflation rises 3.6% year over year

The BEA reported that the personal consumption expenditures price index increased 0.5% in September and 3.6% from a year earlier. Core PCE increased 0.3% month over month. Personal consumption expenditures rose $113.1 billion, or 0.5%, during the month. **Why it matters:** The acceleration in the Fed’s preferred inflation gauge reinforces expectations that policymakers may keep rates restrictive for longer.

Bitcoin falls below $80,000 as tech weakness and hawkish Fed signals pressure crypto

Bitcoin fell below $80,000 during Asian trading before recovering toward $80,100, while Ether declined 1.7%. CoinDesk reported that $356 million in crypto futures positions were liquidated over 24 hours as semiconductor weakness and the Fed’s hawkish hold drove broader risk aversion. **Why it matters:** The move shows that major crypto assets remain highly sensitive to technology-sector risk appetite, interest-rate expectations, and leveraged positioning.

Earnings

Amazon.com (AMZN) reports $201.9 billion in Q3 sales and guides to $240 billion–$247 billion in Q4 revenue

Amazon reported third-quarter net sales of $201.9 billion, up 12% year over year, while operating income reached $28.1 billion. AWS sales increased 39.3%, and Amazon guided fourth-quarter sales to between $240.0 billion and $247.0 billion and operating income to between $28.5 billion and $33.5 billion. **Why it matters:** AWS acceleration supports the AI-cloud investment case, but Amazon’s large infrastructure spending and cautious holiday outlook kept investor focus on capital intensity and free cash flow.

Intel (INTC) reports Q3 revenue of $16.5 billion and forecasts lower Q4 revenue

Intel reported third-quarter revenue of $16.5 billion, up 21% year over year, with GAAP EPS of $0.60 and non-GAAP EPS of $0.52. The company forecast fourth-quarter revenue of $15.0 billion to $16.0 billion and non-GAAP EPS of $0.25. **Why it matters:** Intel’s results show improving revenue but a sequentially lower outlook, keeping attention on supply execution, PC headwinds, and demand for Xeon processors.

Sandisk (SNDK) reports fiscal Q1 revenue of $11.031 billion and announces an eight-for-one split

Sandisk reported fiscal first-quarter 2027 revenue of $11.031 billion, up 23% sequentially, and non-GAAP diluted EPS of $49.51 on a pre-split basis. The company guided fiscal second-quarter revenue to $12.2 billion–$12.6 billion and announced an eight-for-one forward stock split effective November 19. **Why it matters:** Sandisk’s data-center revenue reached $4.802 billion, up 61% sequentially, providing another concrete signal of strong memory demand from AI infrastructure.

Caterpillar (CAT) reports adjusted EPS of $7.20 and revenue of $20.68 billion

Caterpillar reported third-quarter adjusted EPS of $7.20 and revenue of $20.68 billion. Its order backlog reached a record $78 billion, but the company’s outlook for moderate fourth-quarter sales growth disappointed investors. **Why it matters:** Caterpillar’s power and energy business is benefiting from data-center demand, but the muted outlook suggests investors are becoming more cautious about the pace and timing of AI infrastructure projects.

Sources

Every figure above is drawn from real, dated public disclosures and links back to its source. See about and how we work for how this is built, or get the iOS app.

Informational only — NOT financial advice.

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