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IBM Renews Partnership with USTA as Official AI and Cloud Partner for US Open
The USTA and IBM announced a five-year renewal of their partnership that will see IBM serve as the Official AI and Cloud Partner of the US Open through 2031. The renewal comes following the 2026 US Open which saw record engagement for its IBM-powered digital platforms, reaching more than 270M total engagements across USOpen.org and the US Open app combined.
Meta Platforms Announces Public Offerings Totaling $35 Billion
Catch up on the top artificial intelligence news and commentary by Wall Street analysts on publicly traded companies in the space with this daily recap compiled by The Fly.STOCK OFFERING:Meta Platformsannounced concurrent public offerings totaling about $35 billion, including $22.5 billion of Class A common stock and $12.5 billion of Series A mandatory convertible preferred stock represented by depositary shares. The offerings are part of a broader financing plan that also contemplates a roughly $60 billion at-the-market stock program tied to the future launch of Meta's previously announced Class C shares, though the company said terms and timing have not yet been determined.FILES FOR IPO:Anthropic has publicly filed for an initial public offering on Nasdaq under the stock ticker "ANT." The Claude developer is expected to go public in mid-November at a valuation that could exceed $2 trillion, though its filing did not disclose a proposed share price, offering size or valuation, which are expected to be determined following an investor roadshow.In its IPO filing, the company said, "We have grown rapidly over the last several years, and therefore our recent revenue growth and financial performance should not be considered indicative of our future performance. In 2023, 2024, and 2025, our revenue was $41 million, $386 million, and $4.6 billion, respectively, representing year-over-year growth rates of 841% and 1,088%, respectively. In the six months ended June 30, 2026, our revenue was $16.3 billion, representing a year-over-year growth rate of 1,300%. We do not expect our revenue will continue to grow at comparable rates, and we cannot assure you that it will continue to grow at all.CONSUMER HARM PROBE:An FTC spokesperson told' Maria Curi that the Commission sent demands for Anthropic executives to testify in its consumer harm probe. The FTC, which is investigating Anthropic and OpenAI and has sent civil subpoenas seeking documents from both about safety incidents, plans to go after more AI players as well, but has only confirmed demands for testimony were sent to Anthropic, Axios noted.AI AGENTS:IBMsaid in a post on its website, "AI agents are moving from experimentation into enterprise environments, where they can access data and systems, use tools, invoke other agents, and take action on behalf of users and organizations. As IBM and Nvidia expand their work to help enterprises move AI into production, securing how these agents operate becomes part of the same challenge. Enterprises need the infrastructure to run AI at scale, but they also need a way to establish which agents can be trusted, what authority they have, and what they should be allowed to access. The new Nvidia OpenShell Reference Architecture brings those security requirements into focus. Nvidia OpenShell provides a policy-governed runtime for AI agents, creating boundaries around how they interact with data, tools, APIs, and services."FRONTIER MODEL TRAINING:In a post on its site, OpenAI stated, "This post describes how we secure the environments that we use to train and evaluate frontier models. These research settings differ from those in which customers use our released models: models in development may not yet have completed safety and alignment training, and we deliberately test them under adversarial conditions to expose weaknesses. Before making models available for broader use, we conduct safety and alignment assessments and put production safeguards in place. In order to work with software, AI models need computing environments: digital workspaces where they can write and run code, search for information, and attempt different approaches to solving problems. These environments allow models to practice these skills, while also restricting what they can access or do-helping contain the consequences when models make mistakes or exhibit misaligned behavior. But as models become more capable, they become better at finding ways around those limits. A sophisticated model might exploit a software flaw or misconfiguration to escape a sandbox, exploit an internal service to reach the live internet, or find unauthorized ways to communicate with agents in other sandboxes."The Hugging Face incident in July, as well as other examples of model misalignment that we've observed, demonstrates how models with sophisticated cyber capabilities can bypass containment during their training and evaluation. In response to those incidents, we've substantially hardened the security of our research environments. Working closely with cloud providers, we've added new controls throughout our infrastructure, reduced the attack surface that agents can exploit, and improved our methods for detecting misaligned behavior and attempts to cross security boundaries. These protections overlap, so that containment can hold even if an individual control fails - a strategy known as defense in depth. Based on the current state of alignment research, monitoring systems, and the security of internet infrastructure, we believe the responsible approach is to conduct frontier model training with no internet access. We've implemented this policy and will maintain it until advances in these safeguards justify broader internet access."AI INFRASTRUCTURE DEAL:Verizonannounced that it signed an agreement valued at $2B-plus with AWSthat establishes a commercial framework to scale distributed compute and meet the real-time demands of agentic and generative AI workloads.
Nasdaq and S&P 500 Decline Amid AI Spending Concerns
The Nasdaq and S&P were broadly lower amid renewed concerns over AI spending and an increase in oil prices. Meta shares slid despite strong revenue growth as investors weigh rising AI spending and legal costs, while Tesla is under pressure as its investment plans raise questions about returns. Oil prices were more than 2% higher amid continued tensions between the U.S. and Iran, as President Trump accused Iran in a Truth Social post of "doing everything they can to drive up the price of oil" prior to midterms.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Metareported mixed Q3 results, narrowed its FY26 capital expenditure guidance, and announced the establishment of a new Class C common stockTeslareported better-than-expected Q3 earnings, with CEO Elon Musk saying it will take at least a year to get Optimus robot production to 20,000 units per weekIBMreported upbeat Q3 results, with the company saying it is executing "solidly" against its prioritiesTexas Instrumentsreported better-than-expected Q3 results and provided upbeat Q4 earnings guidanceLockheed Martinprovided a "beat and raise" report for Q3 and announced a framework agreement with the Department of War for F-35 Lightning II fighter jets2. WALL STREET CALLS:BMO upgraded Blockto Outperform on Square volume accelerationNetflixdowngraded to Peer Perform at Wolfe ResearchCLSA and BNP Paribas upgraded Teslato Hold on potential SpaceXmergerRBC downgraded Dutch Broson competition, tough comparisonsBMO upgraded Ionisahead of Q3 report3. AROUND THE WEB:SB Energy, the SoftBank Group-controlleddeveloper of a massive planned Ohio data center project for OpenAI, is considering going public in December or possibly waiting until next year, The Information reportsA Sixth Circuit panel appeared reluctant to overturn Ford's$13.2M trade secrets verdict, Bloomberg Law reportsInfineum, a U.K.-based chemicals joint venture owned by Shelland ExxonMobil, has selected Bank of America to run a sale of the business, FT saysTSMCis looking into alternatives to rare-earth components in factory equipment, hoping to reduce the potential for Beijing export controls to disrupt plant operations, Reuters reportsSamsungand SK Hynixare upgrading their factories in China to produce more advanced memory chips, Reuters reports4. MOVERS:Biohavengained after the FDA accepted its new drug application resubmission for VyglxiaSpotifyincreased in New York after reporting Q3 results and providing guidance for Q4Kohl'swas higher after Gordon Haskett upgraded the stock to BuyTTM Technologieswas lower after reporting Q3 results and providing guidance for Q4, FY26, and FY27Hexcelfell after reporting Q3 results and increasing its buyback program to $750M5. EARNINGS/GUIDANCE:Honeywell Technologiesreported Q3 results and raised its guidance for Q4 and FY26Cencoraprovided guidance for FY26Badger Meterreported Q3 results, with EPS beating consensusFirstServicereported Q3 results, with CEO Scott Patterson noting he was "pleased" with the resultsPool Corp.reported Q3 results and backed its guidance for FY26INDEXES:The Dow rose 11.89, or 0.02%, to 52,867.98, the Nasdaq lost 694.00, or 2.60%, to 26,008.86, and the S&P 500 declined 93.74, or 1.21%, to 7,663.43.
Meta Shares Slide, Tesla Faces Investment Pressure
The major averages were broadly lower near noon amid renewed concerns over AI spending and an increase in oil prices. Meta shares are sliding despite strong revenue growth as investors weigh rising AI spending and legal costs, while Tesla is under pressure as its investment plans raise questions about returns.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Metareported mixed Q3 results, narrowed its FY26 capital expenditure guidance, and announced the establishment of a new Class C common stockTeslareported better-than-expected Q3 earnings, with CEO Elon Musk saying it will take at least a year to get Optimus robot production to 20,000 units per weekIBMreported upbeat Q3 results, with the company saying it is executing "solidly" against its prioritiesTexas Instrumentsreported better-than-expected Q3 results and provided upbeat Q4 earnings guidanceLockheed Martinprovided a "beat and raise" report for Q3 and announced a framework agreement with the Department of War for F-35 Lightning II fighter jets2. WALL STREET CALLS:BMO upgraded Blockto Outperform on Square volume accelerationNetflixdowngraded to Peer Perform at Wolfe ResearchCLSA and BNP Paribas upgraded Teslato Hold on potential SpaceXmergerRBC downgraded Dutch Broson competition, tough comparisonsBMO upgraded Ionisahead of Q3 report3. AROUND THE WEB:Infineum, a U.K.-based chemicals joint venture owned by Shelland ExxonMobil, has selected Bank of America to run a sale of the business, FT saysTSMCis looking into alternatives to rare-earth components in factory equipment, hoping to reduce the potential for Beijing export controls to disrupt plant operations, Reuters reportsDayOne Data Centers is weighing options for its U.S. IPO, including a potential delay or size cut, as volatility around data centers increases, Bloomberg saysSamsungand SK Hynixare upgrading their factories in China to produce more advanced memory chips, Reuters reportsSoutheastern Asset Management, an activist investor and big Mattelshareholder, has been considering whether to nominate new directors as part of a proxy fight and push the company toward a sale, Semafor says4. MOVERS:Biohavengains after the FDA accepted its new drug application resubmission for VyglxiaSpotifyincreases in New York after reporting Q3 results and providing guidance for Q4Kohl'shigher after Gordon Haskett upgraded the stock to BuyTTM Technologieslower after reporting Q3 results and providing guidance for Q4, FY26, and FY27Hexcelfalls after reporting Q3 results and increasing its buyback program to $750M5. EARNINGS/GUIDANCE:Honeywell Technologiesreported Q3 results and raised its guidance for Q4 and FY26Cencoraprovided guidance for FY26Badger Meterreported Q3 results, with EPS beating consensusFirstServicereported Q3 results, with CEO Scott Patterson noting he was "pleased" with the resultsPool Corp.reported Q3 results and backed its guidance for FY26INDEXES:Near midday, the Dow was down 211.23, or 0.40%, to 52,644.86, the Nasdaq was down 604.82, or 2.26%, to 26,098.04, and the S&P 500 was down 102.23, or 1.32%, to 7,654.94.
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