Sponsored
Market value$243.1 million
Trading as RNTZ since Oct. 13
Washington is closing the door on new foreign drone models, and the FAA expects big drones to multiply by 2030. Rantizo’s Houston drone business went public in a deal valued at $258.8 million. Its shares began trading as RNTZ on Oct. 13.
ILLUSTRATION — A Rantizo drone stands at the open door of a hangar on an overcast day.
The Stakes
Amazon’s quarterly report carries its Anthropic notes and shares at $238.7 billion, by our sum, against $18 billion put in, and records $50 billion invested in OpenAI.
“Additionally, we entered into a financing arrangement to make available to Anthropic an aggregate facility not to exceed $20.0 billion that will expire 30 months after an Anthropic liquidity event, including an initial public offering (‘IPO’). At inception, there is no amount available to be drawn against and as we reach certain delivery milestones of compute capacity under the amended commercial arrangement, amounts under this facility are made available for Anthropic to draw upon at its discretion. Draws against the facility will be in the form of new Anthropic convertible notes or, after an IPO or other liquidity event and subject to our ownership cap, Anthropic common stock, which will be issued to us in exchange for cash.”
Training Data
Google, OpenAI, Microsoft and Anthropic announced support for a shared robots.txt signal against AI training, Microsoft from Feb. 1, 2027; it is a preference, with no payment attached.
Google, OpenAI, Microsoft and Anthropic announced support on Friday for a shared signal in a website’s robots.txt file expressing a preference against the use of its pages to train generative AI models. Until now, OpenAI said, a site that wanted to refuse had to identify each company’s crawlers and keep separate rules for every one.
It is a preference, not a license. Microsoft wrote that its new preferences “do not establish licensing or payment arrangements,” and the standards draft behind the signal lets private agreements override what a site has said. For publishers, one shared rule could do the work of several. Nothing in it pays them.
Power
A judge refused to dismiss the NAACP’s suit over xAI’s Mississippi turbines, at least 495 megawatts by the complaint’s count, ruling they are not permit-exempt ‘mobile sources.’
A federal judge in Mississippi refused on Friday to dismiss the NAACP’s Clean Air Act suit against xAI, ruling that the gas turbines powering its Colossus 2 data center are not “mobile sources” exempt from air permits. Judge Debra M. Brown also rejected xAI’s arguments that the NAACP could not sue for its members and that citizen suits are unconstitutional.
The ruling decides only that the case goes on. On a motion to dismiss, a court takes the complaint’s allegations as true and makes no findings, and the NAACP’s request to shut the turbines down while the case proceeds still awaits a decision.
The Week Ahead
Intel fell 28.58 percent Friday, its worst day since 1974 by CNN’s count; the chip index lost 7.20 percent before AMD, Qualcomm and Arm report next week.
Intel’s shares fell 28.58 percent on Friday, to $65.76, “its worst day since 1974 and second-worst day on record,” CNN reported, the day after the company forecast a weaker fourth quarter and blamed costly memory for a shrinking PC market. Some 455.6 million shares changed hands, against 134.2 million on Thursday.
Other chip makers fell with it: the PHLX Semiconductor index lost 7.20 percent, and AMD, Qualcomm and Arm, which all report their own quarters next week, fell 10.88, 11.12 and 9.97 percent. The Nasdaq Composite fell 2.86 percent and the S&P 500 1.82 percent, “each suffering their worst day since June,” CNN reported.
Data Centers
Hermantown’s council unanimously approved Google’s 1.7 million-square-foot data center late Friday; the same day, Michigan’s attorney general challenged regulators’ approval of DTE’s contracts for Google’s 1-gigawatt site.
Memory
Japan’s flash-memory maker, whose July–September revenue rose 40 percent from the previous quarter, to 2.48 trillion yen, expects about the same this quarter and declared its first dividend.
Robots
Agility Robotics expects about $465 million from going public, including $100 million already raised, against more than $620 million in June; its SPAC’s shares fell 18 percent Friday.
Analysis
The chip index lost 15.36 percent in October; Alphabet and Meta, whose quarterly free cash flow turned negative, fell 15 to 19 percent while Microsoft and Apple rose.
October split the stock market’s AI trade, and the split was hardest on hardware. The makers of AI hardware and the companies that rent it out fell furthest: Intel lost 45.30 percent over the month, CoreWeave 37.02 percent and Nebius 34.65 percent, and the PHLX Semiconductor index 15.36 percent.
Among the largest technology companies, Alphabet and Meta, whose quarterly free cash flow turned negative this year, fell 18.67 and 15.19 percent, while Microsoft and Apple rose 1.76 and 3.49 percent. Microsoft’s cash from operations exceeded its spending on property and equipment by $18.6 billion last quarter. Investors and strategists quoted by CNN gave cash as the reason.
One Month
The change in closing price over October, from Sept. 30 to Oct. 30, 2026, the month’s last trading day, for five indexes and a selection of the companies in the AI trade, worst to best.
Vote
CHURCHILL CAPITAL XI, Monday, Nov. 2, 9 a.m. Eastern: shareholders vote on the merger that would take Agility Robotics public; the companies expect it to close Wednesday and the shares to begin trading on Nasdaq as AGLT on Thursday, Nov. 5.
Earnings
APPLE, Monday, Nov. 2: fiscal fourth-quarter results, with a call at 5 p.m. Eastern.
Election
THE MIDTERMS, Tuesday, Nov. 3: all 435 House seats, 35 Senate seats and 36 state governorships are up, and Ballotpedia counts 41 local measures on data centers on ballots that day, 21 of them in Ohio.
Earnings
AMD, Tuesday, Nov. 3: third-quarter results after the market closes, with a call at 5 p.m. Eastern.
Earnings
QUALCOMM AND ARM, Wednesday, Nov. 4: results after the market closes, Qualcomm’s for its fiscal fourth quarter, with a call at 4:45 p.m. Eastern, and Arm’s for its fiscal second quarter, with a call at 5 p.m.
Release
MOONSHOT AI, by Wednesday, Nov. 4: the Chinese lab says it will release the full weights of its Kimi K3.1 Pro model.
Deadline
SENATOR BLUMENTHAL, Thursday, Nov. 5: answers are due to his letters to Defense Secretary Pete Hegseth and to Elon Musk asking who ordered the limits on Ukraine’s Starshield service; SpaceX is asked to brief the Senate’s investigations subcommittee by Nov. 12.
Export Rule
COMMERCE DEPARTMENT, Tuesday, Nov. 10: under the published rule, license requirements for affiliates of blacklisted companies return when a one-year suspension ends Nov. 9. The law firm Pillsbury says a two-month extension, to Jan. 10, has been announced as part of the U.S.–China trade truce, but no notice putting it into effect has been published.
Decision
MONTANA PUBLIC SERVICE COMMISSION, Tuesday, Nov. 10: its decision on the $15.4 billion merger of NorthWestern Energy and Black Hills, put off on Oct. 27.
Earnings
COREWEAVE, Tuesday, Nov. 10, 5 p.m. Eastern: its call on third-quarter results, after Microsoft said some third-party capacity it expected in its September quarter was delayed.
Court
ANTHROPIC v. DEPARTMENT OF WAR, Friday, Nov. 13: the government’s answer to Anthropic’s petition for rehearing in the appeals court in Washington is due, after the court granted it more time on Oct. 23.
Comments Due
CHINA’S COMMERCE MINISTRY, Sunday, Nov. 15: comments close on its draft export controls covering 23 artificial-intelligence technologies.
Earnings
NVIDIA, Tuesday, Nov. 17: fiscal third-quarter results, with a call at 5 p.m. Eastern.
Export Rule
CHINA’S DRONE CONTROLS, Wednesday, Nov. 18: revised controls on exports of drones and of their motors, speed controllers and propellers take effect.
Vote
F.C.C., Thursday, Nov. 19, on its tentative agenda: a second set of proposed drone orders, on 450 MHz data links for crewed and uncrewed aircraft and on ground radar at 24 GHz to detect and track unauthorized drones.
Court
IN RE OPENAI COPYRIGHT LITIGATION, Friday, Nov. 20: replies are due on the motions for summary judgment over fair use, in the federal court in New York.
Policy Change
OPENAI, Friday, Nov. 20: its usage policies begin requiring model routers and AI gateways to get its approval before offering access to its models.
Data
GDP, SECOND ESTIMATE, Wednesday, Nov. 25, 8:30 a.m. Eastern: the Bureau of Economic Analysis revises its estimate of third-quarter growth and reports October’s personal income and spending.
Comments Due
NHTSA, Wednesday, Nov. 25: comments close on its proposal to allow cyan marker lamps on driverless vehicles built without manual controls.
Conference
AWS RE:INVENT, Monday, Nov. 30, to Friday, Dec. 4: Amazon Web Services’ customer conference in Las Vegas, after Amazon said it would begin selling its Trainium chips outside AWS late in 2027.
Price Change
GOOGLE, Tuesday, Dec. 1: Gemini 4 Argon’s standard API prices rise from $2 to $4 per million input tokens and from $10 to $20 per million output tokens.
Annual Meeting
TESLA, Thursday, Dec. 3, 3 p.m. Central: three directors, including Elon Musk, stand for election, beside an advisory vote on executive pay and the auditor’s ratification; no merger is on the ballot.
Comments Due
TREASURY, Monday, Dec. 7: comments close on its proposed rule extending its ban on covered U.S. investments to developers of “super intelligence” systems in China and other countries of concern, whatever their training compute.
The Fed
FEDERAL OPEN MARKET COMMITTEE, Tuesday and Wednesday, Dec. 8–9: its last meeting of 2026, after two of its members voted for a quarter-point increase in October.
Auction
PJM CAPACITY AUCTION for 2029–30 opens Wednesday, Dec. 9; results Tuesday, Dec. 22.
Rule Takes Effect
HEALTH AND HUMAN SERVICES, Monday, Dec. 28: its final rule ending the disclosure and risk-management requirements for predictive AI tools in certified health-record software takes effect.
Law Takes Effect
NEW YORK, Friday, Jan. 1, 2027: the date the law signed on Oct. 28 sets for its bans on chatbot features such as flattery and claimed friendship for users not confirmed to be adults; the governor’s office says only that they apply “in the coming months.”
Comments Due
BRITAIN’S DATA CENTRES, Friday, Jan. 8, 2027: consultation closes on the draft National Policy Statement for Data Centres in England, which would treat projects of at least 100 megawatts as likely of national significance.
Session
VIRGINIA GENERAL ASSEMBLY convenes Wednesday, Jan. 13, 2027, with a bill on file to pause new data centers statewide.
New Stock
META, Tuesday, Jan. 19, 2027: its restated charter, creating non-voting Class C shares, takes effect; Meta expects the shares to begin trading in late January.