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  • Amazon revenue +13% to $143.1B in Q3, as margins improve in all segments

Amazon revenue +13% to $143.1B in Q3, as margins improve in all segments

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Top stories today:

  1. Amazon revenue +13% to $143.1B in Q3, margins improve
  2. SBF gives vague testimony without jury present
  3. GDP +4.9% in Q3, better than 4.3% expected
  4. OpenAI announces team to counter bio, nuclear threats
  5. Israel: U.S. conducts 2 strikes in Syria, no ground invasion yet

0. Data and calendar

All values as of 6 AM ET / 3 AM PT, other than S&P500 close (4 PM ET / 1 PM PT).

All times are ET.

1. Amazon revenue +13% to $143.1B in Q3, as margins improve in all segments

Operating income jumped +4.4x to $11.2B, as margins improved overall

AWS revenue growth has stabilized at 12%

The stock is +5% in the pre-market

2. SBF gives vague testimony without jury present; judge to rule on jury testimony today

Court sketch drawing of Bankman-Fried testifying on Oct. 26.

  • Judge Kaplan wanted to hear SBF's testimony first himself, before ruling on what was admissible.

    • “Interesting way of responding to questions:” how the judge described Bankman-Fried.

  • SBF was evasive, saying lawyers had approved most of his decisions, and casting blame on FTX's former chief regulatory officer Dan Friedberg. - Bloomberg's live feed

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4. GDP +4.9% in Q3, better than 4.3% expected

  • GDP price index: 3.5% QoQ, vs. 2.5% expected, from 1.7% in the previous quarter. - BEA

5. OpenAI announces preparedness team to counter “chemical, biological, radiological, nuclear” threats

  • Led by MIT professor Aleksander Madry.

  • UK AI Safety Summit: this announcement was presented as a “contribution” to next week's summit. - Techcrunch, OpenAI

6. Israel: U.S. conducts 2 strikes in Syria as Israeli cabinet remains divided on ground invasion

  • U.S. conducts 2 strikes in eastern Syria facilities linked to Iran.

  • “Targeted raids” conducted for 2nd night: IDF.

  • Israeli cabinet divided over how, whether to conduct Gaza invasion.

  • Hamas: hostages won't be released before ceasefire.

  • Iran: Hamas ready to exchange 200 civilian hostages for 6K prisoners.

    • Threatens U.S.: “will not be spared from these fires” if war continues.

  • House to consider $14.5B Israeli aid bill separately from Ukraine's.

  • 900 U.S. troops being deployed to Middle East (not Israel).

  • 9 Arab countries condemn Israel's attacks on Gaza.

  • Qatar, U.S. agree to revisit Qatar's relationship with Hamas.

  • Qatar sentences 8 Indians to deaths, on charges of spying for Israel.

  • DeSantis: we are sending drones, weapons, ammunition to Israel.

7. Anduril, Shield AI have optimistic growth projections, helping encourage defense VC

8. Disney Parks raise prices, offering luxury packages, increasing per-capita spending by 40% vs. pre-pandemic

9. How Taylor Swift $1B fortune is spread out

10. Interesting videos, posts, and memes

11. Other headlines


  • Google Maps gets AI-powered search updates, other features.

  • KPMG spinout Cranium.ai raises $25M for AI security, trust.

  • UK PM Rishi Sunak confirms AI Safety Institute.


  • X will challenge Youtube, LinkedIn: Elon to staff.

  • Huawei revenue +2% to $62.3B YTD.

  • Uber testing self-driving Waymo cars in Phoenix.

  • Cruise pauses all driverless robotaxis to “rebuild public trust.”

  • WeWork creditors SoftBank, King St. fight for control, bankruptcy in Nov.?

  • Intel revenue -8% to $14.2B in Q3, as adj. gross margin expands to 45.8%.

  • Apple's Journal app available on iOS 17.2 Beta.

  • Tesla raises Model Y's price in China by $2K, after series of cuts.

  • Ford postpones $12B EV investment as customers not willing to pay premium.

  • Sidebar is a leadership program that accelerates your career.*

  • Meet Upway - The #1 Certified E-Bike Expert.*


Tech & law

  • UK approves law that critics say will prohibit E2E messaging.

  • Meta ignores own ethics board's advice to take down drug posts.

  • Apple Watch imports could be banned after U.S. patent ruling.

  • Sundar Pichai to testify in U.S. v. Google on Monday.


  • HER4 gene in golden retrievers strongly correlated to longevity.

  • BioAge announces Phase 2 trial of obesity drug azelaprag.

  • Alzheimer's: more links to gut microbiome discovered in rats.


  • Yellen: “tremendous robustness” suggests rates “higher for longer.”

  • Steve Cohen predicts “fake scare” recession, higher rates.

  • Berkshire sued for allegedly changing accounting rules in $10B Pilot deal.


U.S. politics

  • Rep. Dean Phillips (D-MN) to challenge Biden in run for president.

  • Navy's 12 new ICBM subs to cost $120B, from $100B original budget.

  • Trump: prosecutors move against efforts to extend gag order pause.

  • Blake Masters announces House run in AZ-8, after losing Senate race in 2022.

  • Ground News: news platform that shows you every side of every story.*



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