Consumer Tech (Oct 19-23): OpenAI Reportedly Seeks $30 Billion, Tesla Cuts 2026 Capex Forecast, Anthropic Commits To Over $600 Billion & More

• US chip export curbs on HBM and equipment slow China's AI chip progress but may spur its push for tech independence • Big tech earnings mixed: Meta beat revenue but spent more than it earned; IBM, TXN, WDC topped estimates • AI infrastructure deals surge: Vertiv-Nvidia factory model, Amkor's $1.3B Nvidia packaging deal, Salesforce buying Braze for $5.66B U.S. restrictions on high-bandwidth memory and chipmaking equipment are curbing China's ability to produce advanced AI chips, though experts warn the curbs could accelerate Beijing's push to replace American technology. Trump said Alphabet CEO Sundar Pichai talked him out of naming the Atlantic Ocean after an American figure. In chips and software: SK Hynix paused its planned U.S. listing of Solidigm, citing volatile markets. Western Digital beat Q1 estimates with EPS of $4.64 and revenue of $4.38 billion. Adobe became the AI partner for the Alpine F1 team. Meta grew revenue 26% in Q3 but spent more than it brought in for the first time in over a decade, and plans a new non-voting share class to fund AI investment; CEO Mark Zuckerberg struck a deal to stay in California despite a proposed wealth tax, and said Meta could reach superintelligence by scaling its models further. Nvidia's Jensen Huang said the U.S. must treat China as a top rival in chips and AI. Pichai said AI is still far from self-improving independently, even as Google increasingly uses AI to build its own models, and that Google is sacrificing Cloud revenue to prioritize AI research amid capacity constraints. Lam Research posted a fifth straight record quarter with sales up 54%, yet shares fell sharply on investor concerns. Texas Instruments beat estimates with strong Q4 guidance. Micron is rejecting a memory architecture gaining traction after China's CXMT reported progress. QuantumScape narrowed its Q3 loss and announced a new solid-state battery production line. IBM beat Q3 estimates with $17.10 billion in revenue and $2.95 adjusted EPS. Nebius reported stronger computing-capacity pricing despite AI infrastructure debt concerns. Vertiv shares rose after unveiling an AI factory model with Nvidia at GTC Berlin, ending an 11-session losing streak. Amkor shares gained after securing a $1.3 billion Nvidia deal to expand Korean packaging capacity. Super Micro raised its Q1 revenue forecast to $18.5-$19.5 billion from $14.5-$15.5 billion. Zoom unveiled new AI products and long-term targets at Zoomtopia. Qualcomm is reportedly planning global layoffs amid slowing smartphone demand. Salesforce agreed to acquire Braze for about $5.66 billion to expand its AI and customer engagement tools. Elsewhere: VisionWave Holdings is building AI-powered defense systems backed by $20 million in orders. XORTX Therapeutics targets an FDA filing for its gout drug XORLO, citing a potential $700 million annual market. Greenland Mines is advancing its Skaergaard gold, palladium and platinum deposit. Bloom Energy beat Q3 estimates and raised full-year guidance. Spotify is embracing AI agents.