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Tesla's stock dipped despite beating earnings, as the market focuses on its pivot to AI and robotics rather than EV sales. Meta surged on AI assistant success with 26% revenue growth, while IBM stabilized mainframe demand. The broader AI sector faces headwinds with chip stocks down 15% in three weeks. Corning targets $355 per share on strong data center demand, and three companies report earnings today.
Meta Platforms, Inc. has been sued in Australia regarding allegations that its social media platforms have caused harm to minors.
SpaceX reported blowout Q3 earnings with $14.6B revenue (161% YoY growth) and $4.4B net income. The AI division generated $7.6B in revenue with 830% YoY growth and turned profitable. The analyst predicts SpaceX stock could reach $360 by end of 2027 (122% upside) based on planned AI compute capacity expansion to 13-20 GW and potential $250B+ annualized revenue run rate.