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Samsung reports record quarterly profit amid AI chip frenzy

Samsung Electronics announced record quarterly operating profit of 107.4 trillion won ($80.5 billion) for July–September, exceeding the 100 trillion won mark for the first time. Growth of more than 780% year on year was driven by demand for memory chips for AI infrastructure, but the company's shares fell more than 5% amid investor doubts about the sustainability of the tech boom.

2 min read

Meta to create a new class of non-voting shares to fund AI expenses

In its Q3 earnings report, Meta confirmed a plan to issue a new class of non-voting shares, to be distributed to existing shareholders via a stock dividend. The funds will go toward raising capital, employee compensation and acquisitions while preserving Zuckerberg's control. The company's quarterly revenue was $64 billion, but expenses grew by 68%.

2 min read

Elon Musk promised to gift one SpaceX share to every child in the US after the company's strong earnings report

On October 20, SpaceX published its third-quarter financial results: revenue came in at $12.72 billion, net profit at about $2 billion, exceeding analysts' expectations. The day before, Musk announced on X that in 2027 he would gift one SpaceX share to every child in the US; according to estimates, such a giveaway could cost about $10.7 billion.

2 min read

Elon Musk promised to gift one SpaceX share to every child in the US in 2027

Elon Musk said on X that in 2027 he will gift one of his SpaceX shares to every child in America, calling it «the first of many» steps. Details of the transfer mechanism were not disclosed. By various estimates, the promise is worth between $10.5 and $10.7 billion. The statement came a day after Anthropic announced it would transfer 5% of its shares to a «public benefit fund».

3 min read