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DayOne Data Centers Weighs IPO Delay, Targeting $2.5B-$3B

Massive AI rounds from Tenstorrent and Modal Labs lead this week's financings.This week's private company news:DayOne Data Centers is weighing options for its U.S. IPO, including a potential delay or size cut, as volatility around data centers increases, Bloomberg's Julia Fioretti, Elffie Chew, Manuel Baigorri, and Bailey Lipschultz. According to sources, the company is considering going ahead with a smaller listing that may raise $2.5B-$3B, roughly half of what it had originally aimed for. Deliberations are ongoing and DayOne hasn't made any final decisions, the sources add.SB Energy, the SoftBank Group–controlled developer of a massive planned Ohio data center project for OpenAI, is considering going public in December or possibly waiting until next year, according to people familiar with the discussions, The Information's Phoebe Liu and Valida Pau. That is a later timeline than previously expected, the authors note. The data center developer was aiming to go public as soon as September, The Information reported in August.Some of the biggest capital raises by private companies this week include:Tenstorrent– The AI computing company has closed $1.5B in Series E funding at a $6.2B post-money valuation. The round was led by Trace Capital and Innovation X, with participation from new and existing investors. Publicly-traded companies operating in the same space include AMD, Intel, and Qualcomm.Modal Labs– The provider of artificial intelligence infrastructure announced that it has raised $750 in Series D round, led by Accel. The company is now valued at $15.75B. Publicly-traded companies operating in the same space include Snowflake, MongoDB, and ServiceNow.Belk– The regional department store serving communities across the Southeastern U.S. announced the closing of $1.275B in new senior secured credit facilities with Wells Fargo Bank and Pathlight Capital. Publicly-traded companies operating in the same space include Macy's, Dillard's, and Nordstrom.Whop– The technology company on a mission to deliver everyone a sustainable income, announced a $200M Series D at a $5.1B valuation, led by Sequoia and Shopify Ventures. Publicly-traded companies operating in the same space include Shopify, Block, and Etsy (ESTY).Hertha Metals– The steel company behind the world's first single-step steel and high-purity iron process for lower-cost domestic production has announced the close of a $133.65M Series A round, including a $65M equity investment from the U.S. Government, executed through its Industrial Base Analysis and Sustainment program in partnership with the Economic Defense Unit. The round was co-led by Khosla Ventures and Doerr Capital, with participation from CEV, Pear Ventures, Gates Frontier, Niterra SUISO no MORI Fund, Toyota Ventures and Siemens Financial Services. Publicly-traded companies operating in the same space include Nucor, Steel Dynamics, and Cleveland-Cliffs.Unicorns to watch this week:Lunar Energy– The company remains one to watch as home‑battery adoption accelerates and grid‑independence tech draws policy attention. Lunar Energy last raised $102M at a $1B valuation, and it continues to position itself alongside Tesla, Enphase, and SolarEdgein residential energy storage.Axelar– The company stays on radar as cross‑chain infrastructure gains traction in the blockchain/AI convergence theme. It's consistently cited among emerging unicorns in that category, with public market analogs including Coinbase, Marathon Digital, and Riot Platforms.Anysphere– The company continues to draw attention in the AI‑native developer‑tools space, appearing in recent coverage of new $5B‑plus "ultra‑unicorns." Its closest public market peers include Microsoft, Alphabet, and CoreWeaveas AI‑accelerated infrastructure reshapes software development.VAST Data– The company remains a high‑momentum enterprise AI‑infrastructure name, with ongoing interest around its data layer architecture for large scale AI workloads. Publicly-traded companies operating in the same space include Pure Storage, Snowflake, and NetApp.Digit Insurance– The company continues to stand out in digital‑first insurance as tech enabled underwriting gains share and customer acquisition shifts online. It operates in the same space as Lemonade, Root, and Progressive, and remains a notable player in the insurtech rebound narrative.IPOs to watch:FireFly Robotics– The company, which designs and manufactures autonomous, all-electric robotic systems for turf and grounds environments, announced it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed public direct listing of its common stock. The company is not selling any shares and will not receive any proceeds in the direct listing.Anthropic– The company is now planning to hold its IPO in November, which is later than the October listing expected by investors, The Wall Street Journal's Corrie Driebusch, Anissa Gardizy, and Kate Clark, citing people familiar with the matter. The report states that a delayed listing would allow the company to share its Q3 results and show its strong competitive position. Anthropic also intends to meet with investors in the coming days, and the meetings are expected to help the company and its bankers gauge investor appetite for the offering, WSJ noted.Nscale Limited– The company has filed with the SEC for an initial public offering of its ordinary shares. The company intends to apply to list its ordinary shares on the New York Stock Exchange under the symbol "NSCL". Goldman Sachs, J.P. Morgan, Morgan Stanley are listed as the lead bookrunners.Altera Corporation– Altera announced that its parent company has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed public offering of its common stock. "The number of shares to be offered and the price range for the proposed offering have not yet been determined. The proposed public offering remains subject to the completion of the SEC review process, as well as market and other conditions," Altera stated. Altera, which provides high-performance, programmable compute and connectivity solutions, is backed by Silver Lake and Intel.Brooks Automation– The company announced that it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. The initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions."Private Markets" is The Fly's recurring series of stories on the latest moves in the private sector, largest unicorn companies and initial public offerings to watch. Fly subscribers, add $PRIVATE to your portfolio for alerts on breaking news in the startup and venture capital space.

S&P 500 Falls Over 1%, Nasdaq Slides About 2%

The S&P 500 fell over 1% and the Nasdaq slid about 2%, pressured by higher Treasury yields as well as the hotter-than-expected September inflation report. Headline CPI rose 0.6% month-over-month and 3.7% year-over-year, compared with expectations for 0.6% and 3.6%, respectively. Core CPI, which excludes food and energy, increased 0.3% monthly and 2.6% annually, topping forecasts of 0.2% and 2.5%.Meanwhile, oil prices headed higher as attacks on vessels in the Strait of Hormuz added to concerns about disruptions to global energy supplies.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Bank of Americareported lower-than-expected Q3 results a day after the Treasury Department fined the bank $1.2B over money laundering violationsMorgan Stanleyreported upbeat Q3 results, with the company saying banking pipelines "remain high"Netflixis laying off 6% of its staff, WSJ reportsBerkshire Hathawayis investing an additional $330M in Bending SpoonsASMLreported better-than-expected Q3 results and narrowed its FY26 revenue outlook2. WALL STREET CALLS:Brinkerupgraded to Buy at JefferiesJefferies also upgraded Texas Roadhouseto BuyLockheed Martinupgraded to Buy at Vertical Research following selloffAlbertsonsdowngraded to Underperform at BofABarclays downgraded HP Enterprise, Delland NetAppto Equal Weight3. AROUND THE WEB:Defense technology startup Anduril is in talks to sell insider shares at a $90B valuation, Bloomberg reportsPalantirand London Mayor Sadiq Khan's policing office have agreed to drop legal proceedings over a blocked GBP 50M Met Police AI and data analytics contract, Politico reportsThe FBI worked with CrowdStriketo dismantle more than 40 laptop farms and seize nearly 200 computer devices across Texas used to help North Koreans get remote U.S. tech jobs under stolen identities, NY Times saysGeneral Atlantic is planning to go public as early as spring 2027 and its IPO could be valued at up to $10B, FT reportsNvidia'scontrol of China's market for AI chips fell to 34% in 1H of 2026, mainly due to strict U.S. export controls and domestic rivals gaining ground, Reuters says4. MOVERS:Liquidiagained after announcing a global settlement agreement with United TherapeuticsVerastemincreased after appointing Michel Bailey as CEOGlobalFoundrieswas higher after receiving up to $21B in funding for two new semiconductor manufacturing facilitiesCoreWeaveslipped as the company's bonds drop into levels typically associated with distressInniofell in New York after Morgan Stanley lowered its price target on the stock to $405. EARNINGS/GUIDANCE:Camtekprovided guidance for Q3, Q4, and FY27MaxCytereported preliminary Q3 results and raised its outlook for FY26AZZreported Q2 results and increased its guidance for FY27Fastenalreported Q3 results, with EPS and revenue beating consensusSono-Tekreported Q2 results, with CEO Steve Harshbarger commenting FY27 is "progressing well"INDEXES:The Dow fell 48.62, or 0.09%, to 51,621.48, the Nasdaq lost 511.51, or 1.88%, to 26,692.87, and the S&P 500 declined 86.51, or 1.11%, to 7,718.94.

Major U.S. Averages Decline as CPI Rises

The major averages were lower near noon, pressured by higher Treasury yields as well as the September CPI report, which came in hotter than expected. Headline CPI rose 0.6% month-over-month and 3.7% year-over-year, compared with expectations for 0.6% and 3.6%, respectively. Core CPI, which excludes food and energy, increased 0.3% monthly and 2.6% annually, topping forecasts of 0.2% and 2.5%.Meanwhile, oil prices are surging over 1% once again as attacks on vessels in the Strait of Hormuz heighten concerns about disruptions to global energy supplies.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Bank of Americareported lower-than-expected Q3 results a day after the Treasury Department fined the bank $1.2B over money laundering violationsMorgan Stanleyreported upbeat Q3 results, with the company saying banking pipelines "remain high"Netflixis laying off 6% of its staff, WSJ reportsBerkshire Hathawayis investing an additional $330M in Bending SpoonsASMLreported better-than-expected Q3 results and narrowed its FY26 revenue outlook2. WALL STREET CALLS:Brinkerupgraded to Buy at JefferiesJefferies also upgraded Texas Roadhouseto BuyLockheed Martinupgraded to Buy at Vertical Research following selloffAlbertsonsdowngraded to Underperform at BofABarclays downgraded HP Enterprise, Delland NetAppto Equal Weight3. AROUND THE WEB:Palantirand London Mayor Sadiq Khan's policing office have agreed to drop legal proceedings over a blocked GBP 50M Met Police AI and data analytics contract, Politico reportsThree people were seriously injured in an explosion at Intel'smanufacturing facility in Israel, Calcalist reportsThe FBI worked with CrowdStriketo dismantle more than 40 laptop farms and seize nearly 200 computer devices across Texas used to help North Koreans get remote U.S. tech jobs under stolen identities, NY Times saysGeneral Atlantic is planning to go public as early as spring 2027 and its IPO could be valued at up to $10B, FT reportsNvidia'scontrol of China's market for AI chips fell to 34% in 1H of 2026, mainly due to strict U.S. export controls and domestic rivals gaining ground, Reuters says4. MOVERS:Liquidiagains after announcing a global settlement agreement with United TherapeuticsVerastemincreases after appointing Michel Bailey as CEOGlobalFoundrieshigher after receiving up to $21B in funding for two new semiconductor manufacturing facilitiesStrivelower after announcing a 5M share offering of SATS preferred stockInniofalls in New York after Morgan Stanley lowered its price target on the stock to $405. EARNINGS/GUIDANCE:Camtekprovided guidance for Q3, Q4, and FY27MaxCytereported preliminary Q3 results and raised its outlook for FY26AZZreported Q2 results and increased its guidance for FY27Fastenalreported Q3 results, with EPS and revenue beating consensusSono-Tekreported Q2 results, with CEO Steve Harshbarger commenting FY27 is "progressing well"INDEXES:Near midday, the Dow was down 46.41, or 0.09%, to 51,623.69, the Nasdaq was down 369.46, or 1.36%, to 26,834.93, and the S&P 500 was down 71.44, or 0.92%, to 7,734.01.