ASML announces Q3 financial results, posting a net profit of 4.96 billion euros, slightly exceeding market expectations.

According to Nomura, since March 30, 10 U.S. stocks have driven 70% of the S&P 500’s total gain. Nvidia was the largest contributor, accounting for 13% of the index’s rise, or +3 percentage points. Next were Micron, Apple (AAPL), and Microsoft, each contributing 9% of the S&P 500’s gain, or +2 percentage points apiece. AMD and Alphabet (GOOGL) followed with return contributions of 8% and 7% respectively. Meanwhile, the remaining 490 stocks made up just 30% of the S&P 500’s gain since March 30, adding +7 percentage points.

A whale who bought 257,928 $HYPE at just $3.5 each 2 years ago sold another 100,276 $HYPE ($8.17M) 6 hours ago to take profits.

According to the Associated Press, U.S. House Democrats are preparing to launch a 100-day agenda if they win a majority in the midterm elections, focusing on Trump-era tariffs, healthcare (including restoring Affordable Care Act tax credits and reversing Medicaid cuts), and government oversight. They also plan to push forward a War Powers Resolution to pressure the Trump administration on Iran-related issues.

Nvidia-backed AI cloud provider CoreWeave is looking to tap into the massive capital pools of insurance companies to lower its financing costs for purchasing AI chips and building infrastructure. Branin McBee, CoreWeave's co-founder and head of financing, said that if the company can secure investment-grade ratings for more of its chip-collateralized debt and ultimately improve its own credit rating, it will gain access to the insurance capital market. He noted that the insurance industry’s capital is “nearly unlimited,” as “the money sitting in insurance pools is one of the largest sources of capital in the world.” Earlier this year, CoreWeave secured an $8.5 billion loan backed by Nvidia chips and a long-term usage contract with Meta. CoreWeave’s next step is to attract insurance companies to purchase loans backed by lower-credit clients, such as financing for AI labs. So far this year, the company has raised over $35 billion through chip-collateralized loans, high-yield bonds, convertible bonds, and stock offerings. As of the end of June, the company’s total debt and lease obligations stood at approximately $52 billion.

Per TradingBeats monitoring, the ZHIPU perpetual contract on Hyperliquid is currently priced at $75.31, down approximately 3.76% from $78.26 24 hours ago, with a 24-hour trading volume of around $4.45 million. Additionally, the largest long position address for ZHIPU (0x8b3f…bc6cd) still holds roughly 74,200 ZHIPU long contracts, with a position value of about $5.59 million. The address uses 2x isolated margin, and currently faces an unrealized loss of approximately $1.663 million, resulting in a position return of -45.88%. Related update: Zhipu’s stock price has hit a new low since March this year, down nearly 20% from its September private placement price.

Bank of America is no longer involved in the potential IPO underwriting arrangements for AI startup Moonshot AI, according to people familiar with the matter. Earlier, the US lender had held discussions to serve as the overall coordinator for the firm’s Hong Kong IPO, but ultimately failed to secure a formal mandate. Moonshot AI is targeting a Hong Kong listing as early as the first quarter of 2027, with a potential fundraising scale of up to $5 billion. Currently, Goldman Sachs is the only US bank to have obtained a role in the IPO, and will act as joint listing sponsors alongside China International Capital Corporation (CICC) and Deutsche Bank. (Bloomberg)