Thursday 22 October 2026
Top stories today:
Meta Q3 revenue +26% YoY to $64.6B, net income +264%
Anthropic unveils proactive Claude Duet agent to rival OpenAIās Dots
Tesla Q3 revenue flat YoY at $28.0B, auto revenue -3% to $20.6B
DeepSeek raises ~$15B to challenge top U.S. AI labs
Flapping Airplanes, year-old AI startup, raises $1B at $6B valuation
0. Data & Calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing todayās newsletter (beware of hallucinations)
1. Meta Q3 revenue +26% YoY to $64.6B, vs. $63.3B est., net income +264%
Free cash flow turned negative at -$2.12B, vs. +$784M in Q2.
-37% YoY in Q3 operating income to $12.99B, reflecting a $9.89B AG settlement charge.
Meta projects Q4 revenue of $73B-$76B, vs. $73.73B est.
FY2026 capex is expected at $135B-$145B, vs. the prior $130B-$145B forecast.
Family daily active people +3% YoY to 3.64B, below 3.65B est.
Muse attracted 10M+ users since launch, with 25%+ making purchases through the app at an average purchase value of $200+.
Jan. 2027: Meta plans to create a new class of nonvoting stock to raise capital for AI development.
Reality Labs reported a $4.13B loss on $513M in revenue, bringing cumulative losses above $92B
Separately, New Mexico court ordered Meta to pay $25B in penalties over Cambridge Analytica data deception.
Meta also restructured its stock to shield Mark Zuckerberg from Californiaās proposed wealth tax, SEC filings showed.
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3. Anthropic unveils proactive Claude Duet agent app to rival OpenAIās Dots
Available in research preview for U.S. Pro and Max users.
iOS, Android, and the web availability.
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5. Tesla Q3 revenue flat YoY at $28.0B, auto revenue -3% to $20.6B
-16% YoY in Q3 energy revenue to $2.9B.
Active FSD subscriptions +67% YoY to 1.7M.
Teslaās 2026 capex is projected at ~$20B, vs. $25B+ forecast earlier
Separately, insiders were reportedly rattled by Elon Muskās public backing of a SpaceX-Tesla merger, fearing shareholder scrutiny and delays.
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7. DeepSeek said to have raised ~$15B in landmark China funding round to challenge top U.S. AI labs
CATL and Tencent are among the biggest investors.
