Bitcoin Breaks $104,000, Up 2.2% in 24 Hours

According to a report from the UK's Financial Times, Trump stated that the United States currently has no immediate plans to strike Iran.

AMD’s third-quarter revenue rose 45% year-over-year to $13.38 billion, beating market expectations of $13.09 billion; adjusted earnings per share hit $2.09, exceeding the $1.95 forecast. Data center revenue grew 97% YoY to a record $8.55 billion, above the $8.2 billion estimate. Meanwhile, client and gaming segment revenue fell 8% YoY to $3.72 billion, missing the $3.79 billion projection. AMD CEO Lisa Su forecasts the company’s revenue will grow by more than 80% in 2027, outpacing the 77% consensus analyst estimate compiled by LSEG. She expects data center chips will contribute around 80% of next year’s revenue, driving most of the firm’s revenue and profit growth. AMD’s shares jumped more than 8% in after-hours trading. For the fourth quarter, AMD projects revenue of roughly $17 billion, above the $16.23 billion market forecast; adjusted gross margin is expected to be around 55%, roughly in line with the market’s 55.27% estimate, down from the third quarter’s 56%. On the product front, the Helios rack system equipped with MI455X accelerators and Venice server chips has entered mass production, with output set to expand in the fourth quarter; initial batches of the systems are currently being tested by Meta. In February this year, AMD and Meta struck a deal under which AMD will sell up to $60 billion in AI chips to Meta over five years, and the agreement also allows Meta to purchase up to 10% of AMD’s shares. According to data from BIT Stock Platform, following the earnings release, AMD’s after-hours gains once topped 9%, lifting chip stocks including NVIDIA and SK Hynix higher.

According to BIT stock platform data, U.S. stocks closed on Tuesday: the Dow Jones Industrial Average fell 0.38%, the S&P 500 rose 0.36%, and the Nasdaq gained 0.83%. Neocloud-related stocks rallied across the board, with Cipher Digital (CIFR) up 18.37%, Hut 8 (HUT) rising 15.90%, Galaxy Digital (GLXY) gaining 15.35%, TeraWulf (WULF) climbing 14.53%, Core Scientific (CORZ) up 13.87%, and IREN rising 11.08%. Most optical communication concept stocks moved higher: Credo (CRDO) rose 7.78%, Ciena (CIEN) gained 5.54%, Coherent (COHR) up 3.77%, and Broadcom (AVGO) climbed 3.07%. Storage stocks rallied across the board: SanDisk (SNDK) rose 4.78%, Western Digital (WDC) gained 2.59%, Micron Technology (MU) up 2.58%, Seagate Technology (STX) climbing 2.13%, and SK Hynix (SKHY) rising 2.09%. Semiconductor stocks strengthened in tandem, with AMD up 3.65%, Broadcom (AVGO) climbing 3.07%, Arm (ARM) rising 2.90%, NVIDIA (NVDA) gaining 2.29%, KLA (KLAC) up 2.02%, and Applied Materials (AMAT) rising 1.97%.

According to people familiar with the matter, Meta Platforms (META.O)’s U.S. dollar bond offering drew subscription orders of up to $58 billion, roughly four times its planned minimum issuance size of $15 billion. The overall cross-border financing volume is expected to reach at least $20 billion, and the company plans to launch its first euro-denominated bond as early as Wednesday. Despite strong demand, Meta still needs to offer higher yields to attract investors: its 2056-maturity bond carries a spread of around 2.2 percentage points over U.S. Treasuries, about 0.9 percentage points higher than similar bonds in April this year. AI investment expansion has driven up financing costs for tech giants; bond yield spreads for large tech firms have risen to their highest level since 2003, with some firms' credit default protection costs near record highs. Analysts expect AI investment by relevant companies to total $4.5 trillion over the next three years, with Meta’s portion exceeding $740 billion. Meta has also raised $37.5 billion via common and preferred stock offerings, and plans to issue up to an additional $60 billion in shares; S&P has cut its rating outlook to negative due to AI spending pressures.

According to Axios, the White House has distributed internal campaign materials to government officials and external supporters, highlighting Trump’s active campaigning for Republicans in the midterm elections. The materials state that Trump and Vice President Vance have held more than 50 rallies since the September Republican National Convention, claiming the GOP’s election prospects have improved compared to four weeks ago. They also describe the Trump administration’s performance over the past two years as “the most successful two years in history,” focusing on promoting immigration, public safety, and economic policies while attacking six Democratic candidates. The report notes that the White House’s move is also seen as emphasizing Trump’s full campaigning efforts ahead of potential unfavorable election results for the Republican Party.

According to Reuters, the U.S. National Futures Association (NFA) has approved Polymarket subsidiary PM Derivatives LLC to operate as a Futures Commission Merchant (FCM). An NFA spokesperson stated the subsidiary has met all requirements for FCM registration, though actual futures brokerage operations still require approval from the U.S. Commodity Futures Trading Commission (CFTC). Polymarket currently runs one CFTC-registered exchange and one offshore platform. If cleared by the CFTC, PM Derivatives will act as an intermediary to receive client orders and funds. Polymarket noted the subsidiary plans to adopt a full collateralization model, requiring clients to provide full funds for all positions at trade execution. The approval comes as prediction markets face regulatory scrutiny and legal challenges, with the CFTC currently conducting an investigation into Polymarket.