In its Q3 earnings report, Meta announced the creation of a non-voting Class C common stock, to be distributed to holders of Class A and Class B shares at one share per share held—an effect similar to a 2-for-1 split—without changing shareholders' voting rights. The amended charter is set to take effect on January 19, 2027. The move, driven by capital expenditures exceeding cash flow and aimed at AI competition, was introduced.

Microsoft will report its FY2027 first-quarter results after the U.S. market close on October 28. The market focus is on whether Azure growth can cover surging AI capex. Azure grew 43% last quarter, but management has already signaled that FY2027 margins will contract. This earnings report will verify the specific magnitude of high revenue growth coexisting with margin decline.

Tesla's third-quarter revenue came in at $28.046 billion, essentially flat year-over-year, while non-GAAP earnings per share of $0.48 slightly beat expectations. However, rising R&D spending sent operating profit plunging 56% year-over-year to $718 million, and the stock reversed course and fell after the earnings call began.

On October 19, BlackRock submitted Form 485APOS to the SEC, seeking to launch the Bitcoin Downside Protection ETF (ticker: PBIT). The fund does not hold bitcoin directly; instead, it uses three sets of call option spreads to seek a degree of downside protection while limiting upside participation. It is currently still in the application stage.

Musk confirmed during SpaceX's Q3 earnings call that both companies have each established special committees to explore the possibility of a merger between SpaceX and Tesla. Currently, this is only exploratory discussion; no agreement has been reached on any transaction terms, and there is no guarantee a deal will ultimately be reached. Musk recused himself due to conflicts of interest.

SpaceX reported third-quarter revenue of $14.575 billion, up 161% year-over-year, with net profit of $4.404 billion. The Superintelligence (SI) business has contributed more than half of the group's revenue, emerging as a highlight of the business mix, but massive capital expenditure remains a key market concern.

SpaceX will report its third-quarter earnings after the U.S. market close on October 20, its second quarterly report since its IPO. Wall Street expects revenue of roughly $12.7 billion to $12.9 billion, with the market focused on AI infrastructure, Starlink revenue, and massive capital expenditures as a test of the company's profitability.

U.S. spot Ethereum ETFs saw significant net outflows last week, with the scale even exceeding that of the larger Bitcoin ETFs, sparking market concerns about Ethereum. It should be noted that this data represents only the net amount of fund subscriptions and redemptions, reflecting the willingness of capital to exit, but it is not equivalent to actual changes in price or net asset value.

On October 15, US PPI surged 6.3% year-over-year, far exceeding market expectations, triggering violent turbulence in the cryptocurrency market. Bitcoin briefly fell below $80,000 before rebounding to around $82,000. Nearly $1 billion was liquidated across the network in 24 hours, highlighting market risks under a high-inflation and high-leverage environment.

U.S. September CPI rose to 3.7% year-over-year, exceeding market expectations, with inflationary pressures continuing to intensify. The market is focused on the upcoming PPI data, which is expected to rise 0.6% month-over-month. Previously, August PPI reached 5.4% year-over-year, with producer-side price pressures significantly higher than the consumer side. If the data once again exceeds expectations, it could exacerbate market concerns about persistently rising inflation.

TSMC's Q3 2026 earnings beat expectations, with 2nm revenue share rising to 8%, a positive for AMD's MI450 ramp; HPC revenue grew 22%, confirming strong AI demand for NVIDIA. However, CoWoS packaging capacity remains uncertain, and market concerns over AI investment returns continue to weigh on share prices.

TSMC's Q3 2026 earnings delivered strong results, with revenue reaching $46.72 billion and net income growing 68.7% year-over-year, both beating expectations. Driven by AI chip demand, Q4 revenue is projected at $52.3 billion to $54.3 billion, though 2nm capacity expansion may put pressure on gross margins.

US September CPI rose 3.7% year-over-year, above market expectations, while core inflation climbed to 2.6%, reigniting concerns that the Federal Reserve may raise rates again. US tech stocks were sold off, with the Nasdaq falling 1.88% and the S&P 500 dropping 1.11%, as risk-off sentiment intensified.

After Bitcoin surged to $87,000 and then pulled back to around $81,000, on-chain realized profits reached $1.03 billion, close to the yearly peak. Meanwhile, long liquidations totaled approximately $520 million, and spot ETF net outflows exceeded $700 million. Selling pressure in the market has intensified, with SOPR and realized profit metrics indicating that holders are taking profits, and the subsequent trend still needs to be observed.

TSMC will release its 2026 third-quarter earnings on October 15, with revenue hitting a record high and exceeding the upper end of its guidance. The market is closely watching AI chip demand, 2nm process capacity ramp-up, gross margin stability, as well as fourth-quarter outlook and capital expenditure trends, to assess TSMC's future growth potential and profitability prospects.

Bitcoin mining profitability continues to face pressure, with mainstream mining machines generating about $10.5 in daily revenue, as hashrate revenue approaches historic lows. As network hashrate and mining difficulty climb, electricity costs and equipment efficiency have become the key to profitability, with some miners facing the risk of losses.