Morgan Stanley Enters the Prediction Market, Becomes Strategic Partner of NEXTPredict
Morgan Stanley will serve as a strategic partner at the NEXTPredict Prediction Markets Summit, held in New York from October 22 to 23. Stephen Grambling, the bank’s head of U.S. Gaming, Lodging & Leisure Research, will lead a panel discussion on institutional capital. Pierre Lindh, co-founder of NEXTPredict, said Morgan Stanley is the first bank to publicly participate in an event in this space. Lindh noted that roughly 90% of current liquidity and trading volume in prediction markets comes from sports contracts, and the sector’s high current valuations are built on expectations of large-scale inflows of institutional capital and a shift of prediction markets from "alternative betting" to institutional tools. Morgan Stanley previously participated in Kalshi’s $1 billion funding round completed in May, and released a research report on prediction markets in April this year.
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Bitwise files for registration of NEAR ETF, plans to list on NYSE Arca.
U.S. SEC filings show that Bitwise’s NEAR ETF has filed a Form 8-A registration statement, seeking to register its common beneficial certificates for trading on NYSE Arca. The documents state the ETF is sponsored by Bitwise Investment Advisers, LLC, and the corresponding S-1 document was submitted to the SEC on September 16. The Bitwise NEAR ETF is intended to provide exposure to exchange-traded products tied to NEAR-related assets. This Form 8-A was signed on September 24, on behalf of Bitwise by Chief Operating Officer Teddy Fusaro.
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AI computing firm Nscale has secured $3.36 billion in pre-IPO convertible note financing, led by Third Point, with NVIDIA adding a $1 billion commitment.
AI computing power company Nscale announced the completion of a $3.36 billion pre-IPO convertible bond financing round, led by Third Point, with participation from Nvidia, Apollo’s funds, Citadel, Hudson Bay Capital, the Abu Dhabi Investment Committee, and 8090 Industries, among others. The financing includes $2.36 billion that closed at signing, plus an additional $1 billion committed by Nvidia for mid-November 2026. The convertible bonds will automatically convert to common shares after Nscale’s IPO, with Nvidia’s holdings converting to non-voting shares. Nscale stated that its total cumulative contract value (TCV) exceeds $103 billion, and the proceeds from this round will be used to expand its global AI data centers, GPU clusters, and power infrastructure. Goldman Sachs served as the placement agent for the financing.
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US pre-market key headlines: Citigroup maintains a bullish outlook on US stocks; most of the Magnificent Seven rose in pre-market trading; Tesla has recently boosted its humanoid robot production by around 10 times.
Pre-market key news for US stocks is as follows:
1. Deutsche Bank cuts PayPal’s price target from $60 to $55; raises Meta’s price target from $750 to $820.
2. Strategy plans to launch daily dividend mechanisms for STRF, STRC, STRK and STRD.
3. Citigroup remains bullish on US stocks, maintains an overweight stance on US equities, and will increase investment exposure during market pullbacks.
4. Following the release of US durable goods data, the yield on the 30-year US Treasury note rose 1.85 basis points to 5.481%, while the 10-year US Treasury note yield climbed 2.36 basis points to 5.186%.
5. Goldman Sachs says AI-related capital expenditure is set to surge to $1.7 trillion, requiring $1.42 trillion in revenue over three years to achieve a 15% return.
6. US stock index futures rose as oil prices and US Treasury yields pulled back from recent sharp gains, with markets awaiting key inflation expectation data.
7. Most of the US "Magnificent Seven" stocks advanced in pre-market trading; Akamai jumped 20% after signing a $11.6 billion deal with Anthropic.
8. According to Japan’s Kyodo News: Honda is considering investing 400 billion yen to build a hybrid vehicle factory in Ohio.
9. Microsoft launched a new Copilot with Home, Code and Autopilot features, integrating the full functionality of Word, Excel and PowerPoint into Copilot via "Office in Copilot".
10. Tesla has increased production of its Optimus humanoid robot by roughly 10 times in recent months.
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NVIDIA has committed to investing $1 billion in NScale, with the funds expected to be in place by mid-November.
Beating AI News Flash: Per market sources, Nvidia has pledged a $1 billion investment in AI computing power firm Nscale, with the funds expected to be in place mid-November. On September 19 earlier this year, AI data center operator Nscale filed an IPO application with the U.S. SEC, planning to list in New York and raise up to $3 billion under the proposed ticker symbol NSCL. The company spun off from its cryptocurrency mining business in early 2024 and has since transitioned to become an AI computing infrastructure service provider. According to the prospectus, as of August 2026, Nscale owns and controls data centers with a power capacity exceeding 10GW, with total contract value of roughly $103 billion, including a $45 billion lease commitment from Anthropic this August. The company’s clients and partners include Nvidia, Microsoft, and other firms.
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A Hyperliquid whale holds nearly $16 million in unrealized profit from going long on NEAR.
Arkham disclosed in a post that Hyperliquid address "MK4" currently holds a NEAR long position worth around $29.7 million, with an entry price of approximately $2.35, using 10x leverage, and generating an unrealized profit of roughly $15.96 million. The blockchain analytics firm added that the address has accumulated about $58 million in total profits on Hyperliquid over the past three years, and is suspected to belong to X account @mk4_lul.
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