Articles by Jennifer Song
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Palantir (PLTR) U.S. commercial revenue tops government sales for the first time as revenue jumps 96%
Palantir's U.S. business customers outspent the U.S. government for the first time, and the company raised its 2026 forecast. The value of new contracts grew just 6%.
Meta (META) raised about $25 billion in dollar and euro bonds in two days. The dollar notes cost far more than in April.
Meta sold €9 billion of euro notes a day after $15 billion of dollar bonds. Its 10-Q shows how much it already owes, and what its data center ventures borrowed on the side.
Anthropic's (ANT) computing costs rose to 58% of revenue in one quarter as it swung to a $567 million loss
Anthropic's amended IPO filing shows computing costs climbing to 58% of revenue from 48% in a single quarter, while revenue grew 47% to $17.0 billion. The company swung from a $974 million operating profit to a $567 million loss.
Anthropic (ANT) sets 38.5 million to 50 million IPO shares for Japan, worth up to $3.5 billion
An amended Japanese filing puts a share count on Anthropic's Japan IPO sale and sets the lottery dates. The $3.5 billion top end hasn't moved.
Reddit (RDDT) sinks 18% on a weak forecast and blames Google's AI for shrinking search traffic
Reddit said its search traffic "dropped by more than 1 million referrals on average per week" in October. CEO Steve Huffman blamed Google's AI Overviews, and Reddit will test requiring logins.
Amazon (AMZN) misses third-quarter estimates as AWS grows 39%, its fastest in nearly five years
Amazon's third-quarter earnings and revenue came in below estimates, and its spending outran the cash its operations brought in by $33.5 billion. AWS grew 39%, and Amazon plans to spend more in 2027.
Accenture (ACN) CEO Julie Sweet buys $3 million in stock, her first open-market purchase in 16 years of filings
Julie Sweet's Form 4 is the first of 299 to report an open-market Accenture purchase. A director bought on the same day, after Accenture shares nearly doubled from their June low.
Alphabet (GOOGL) missed sales estimates and spent $9.1 billion more than it brought in. Microsoft (MSFT) beat.
Google Cloud more than doubled, but Alphabet sold $12.4 billion of new stock and bought back none. Microsoft's Azure grew 48%, and its cash still covers its spending.
Anthropic signed or amended $245 billion in computing commitments after June, IPO filing shows
Anthropic's IPO filing lists $245 billion in computing commitments signed or amended after June 30, apart from $417 billion earlier in the year. Its Nov. 2 amendment puts the total at about $895.4 billion.
NextNav (NN) jumps after SpaceX (SPCX) asks the FCC to add its band to satellite-to-phone plans
SpaceX's FCC letter asks regulators to plan ahead for NextNav's proposed 5G license. It doesn't describe any deal between the two companies.
Anthropic files for a Nasdaq IPO as ANT, showing $16.3 billion in first-half revenue and an $80.7 billion loss
Most of the loss is an accounting charge. The filing also shows who will control Anthropic and how big its SpaceX computing bill is about to get.
SpaceX (SPCX) plans to lease $40 billion of GPU equipment from an Apollo (APO) entity. The deal hasn't closed yet.
SpaceX's 8-K shows a signed commitment to lease GPU pods from an Apollo-managed entity, with closing expected before year-end. The interest rate is still open.
Meta Platforms (META) prices its stock sale at $37.5 billion. Nvidia says it will invest $3 billion.
Meta raised its common stock sale to $25 billion at $625 a share. Nvidia said it will put $3 billion into the offering and expand its work on Meta's Muse models.
Applied Digital (APLD) executives buy $6.7 million at a one-year low as ARK adds CoreWeave. Who else is buying and selling?
CoreWeave's founders sold $2.3 billion of stock this year before their sales went quiet. Cathie Wood's ARK spent October buying CoreWeave and selling Palantir.
Amazon, Alphabet, and Meta now spend more on data centers and equipment than their businesses bring in
Meta wasn't the first. Amazon and Alphabet crossed the line a quarter earlier, and three of the big four have raised billions in debt or stock this year. Microsoft is the exception.
Meta's sales beat its forecast as spending hit $34.9 billion
Meta spent more on data centers and equipment than its business brought in, and it's adding a new class of stock with no vote.
Meta Platforms (META) is effectively splitting its stock 2-for-1 with non-voting shares. Zuckerberg first asked for 20-for-1.
The filing behind Meta's new share class shows eight months of talks, a California wealth tax, and more Class C dividends promised each time the stock doubles.
Tesla (TSLA) brought in $1.53 billion of free cash flow. Analysts expected it to lose $4.9 billion in cash.
Tesla spent billions less than analysts expected and cut its 2026 capital spending forecast to more than $20 billion. Its profit fell 43%.
Super Micro (SMCI) says quarterly sales ran $4 billion above its forecast. Its new CFO started six days earlier.
Super Micro now puts its September-quarter sales at $18.5 billion to $19.5 billion. The margin estimate beat the forecast too, though it still trails June's.
SpaceX (SPCX) options price a 7% earnings move, worth about $143 billion either way
At a $2 trillion company, even a 7% move is a lot of money. A straddle gives a rough gauge of the move priced in, and August shows how it played out last time.
3M (MMM) shares rise after Amazon (AMZN) gets a stock warrant tied to $6 billion in data center purchases
The $521 million figure in the headlines is not what the warrant is worth. The 8-K shows how it really vests, a day before 3M's earnings call.
CoreWeave (CRWV) and seven other AI infrastructure borrowers see bond spreads widen as a Goldman note says credit is ahead of stocks
We compared the same AI borrowers' bonds from Oct. 8 through Oct. 16, and every one widened while JNK barely moved. Now updated with what new debt would cost each borrower.
TSMC (TSM) posted a record profit for the sixth straight quarter. Its CEO says any Terafab plant would have to be run by TSMC.
Revenue beat TSMC's own forecast, the 2026 outlook went up, and the CEO put a condition on any deal with Musk's Texas fab.
Palo Alto Networks (PANW) CEO Arora gets $147 million upfront in stock-linked deal, with settlement due in 2029
A Form 4 shows what the $201 million notice really covers, and an attached note explains why the CEO didn't sell.