Elon Musk: SpaceX’s annual revenue is expected to exceed $100 billion by the end of the year.
Elon Musk said in an interview Friday that he still expects SpaceX (SPCX.O) to generate annualized revenue of over $500 billion by the end of 2027, calling this his most reasonable forecast. He added that hitting $1 trillion in revenue is not entirely impossible, but only has a roughly 2% probability. Musk projected SpaceX’s annualized revenue will exceed $100 billion by Q4 2026, with a sequential increase of around 70%, stressing these figures are just his personal expectations, not commitments. He also noted that SpaceX’s revenue from the U.S. government will account for less than 10% this quarter, falling to below 5% in a year, while praising the company’s government business for delivering the highest quality products at the lowest prices. Following the news, SpaceX’s stock rose more than 8% at one point.
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U.S. stocks close: Most chip stocks rebounded, with AMD up over 11% and Marvell rising 5.73%.
US stocks closed on Friday: The Dow Jones Industrial Average initially finished down 0.46%, the S&P 500 index rose 0.32%, and the Nasdaq Composite gained 1.09%. Most chip stocks rebounded, with SK Hynix (SKHY.O) up 2.78%, NVIDIA (NVDA.O) rising 2.78%, AMD (AMD.O) jumping 11.04%, Intel (INTC.O) up 7.71%, Micron Technology (MU.O) gaining 5.12%, Marvell Technology (MRVL.O) rising 5.73%, Arm (ARM.O) adding 4.74%. Tesla (TSLA.O) rose 4.23%, and SpaceX (SPCX.O) gained 8.62%.
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U.S. October non-farm payrolls added 165,000 jobs, with the dollar notching its largest single-day gain in nearly five months.
US October non-farm payrolls rose by 165,000, far outpacing the 65,000 expected, with the unemployment rate dropping to 4.1%. The robust employment data lifted the probability of the Federal Reserve implementing a 25 basis point rate hike in December to nearly 80%. The US Dollar Index climbed 0.71% to 102.31, notching its largest single-day gain since June 17; the euro, pound sterling, and yen fell 0.72%, 0.74%, and 0.5% against the greenback respectively. US Treasury yields moved higher in tandem, with the 10-year Treasury yield rising to 4.85% and the 2-year yield to 4.52%. Fed officials Williams, Musalem, and Daly all underscored that inflationary pressures remain, with Daly stating the Federal Reserve may still need to implement additional rate hikes. (Jin10)
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OpenAI completes the first close of its $11 billion funding round, reaching a $1.25 trillion valuation, with SoftBank, Sequoia and other investors participating.
Beating AI Flash News: According to Bloomberg, OpenAI has completed approximately $11 billion in financing, with the first tranche of funds arriving on Friday, valuing the company at $1.25 trillion. The total size of this financing round is expected to reach up to $20 billion, with the remaining portion set to close in the coming weeks. Insiders revealed that Coatue Management and T. Rowe Price participated in the first tranche, while SoftBank, Sequoia Capital, Founders Fund, Andreessen Horowitz, as well as investors from the United Arab Emirates also joined the round. OpenAI had originally planned to raise at least $30 billion at a $1.4 trillion valuation, but later lowered its financing targets following a public market sell-off in the AI sector. The company just closed a $122 billion financing round in March this year, with a valuation of $852 billion at that time.
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Trump says the US carried out a small strike against Iran.
US President Trump told media on the 6th that the US carried out a "small strike" against Iran, destroying a "small air defense device" manufactured by Iran. According to earlier reports from Iran's Tasnim News Agency, two missiles hit Iran's Qeshm Island based on preliminary reports. Meanwhile, two US officials revealed that some advisors of the Trump administration have informed Trump that the "time window" for launching large-scale military operations against Iran again is "narrowing", advising him to act before the new Democratic-controlled Congress takes office in January next year. This means Trump needs to make a decision in the coming weeks. It is reported that the US currently deploys more than 50,000 troops, over 20 warships and more than 200 aircraft in the Middle East – maintaining such a large-scale military deployment long-term is affecting the US military's combat readiness, which is also one of the reasons for the limited time window for military operations. On local time November 5, Trump's national security team reported to him on a plan to resume large-scale military operations. It is said that Trump has not yet decided whether to restart the strike operation. A White House official stated that Trump "can take any option at any time" and "only he himself knows when and what decision will be made".
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Fed's Daly: Prepared to raise interest rates further if needed, stresses need for prudent policy decisions.
San Francisco Fed President Mary Daly said the U.S. Federal Reserve is prepared to raise interest rates further if needed, adding that monetary policy still needs tightening at present. However, how much more tightening is required and when to take action will depend on additional information, she stressed, noting the Fed must act prudently.
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