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AI startup Flapping Airplanes raises $1B Series A at $6B valuation

Flapping Airplanes, a one-year-old AI lab, announced a $1 billion Series A round co-led by Index Ventures and Lux Capital at a reported $6 billion valuation. The raise follows a $180 million seed round nine months earlier that had valued the company at $1.5 billion, with Sequoia, GV and Kleiner Perkins returning as investors alongside new backers including Nvidia.

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IBM tops Q3 estimates, raises free cash flow outlook for 2026

IBM reported third-quarter adjusted earnings of $2.95 per share on revenue of $17.10 billion, both ahead of analyst expectations. Net income rose to $2.19 billion from $1.74 billion a year earlier, with software revenue up 8% to $7.80 billion. IBM also raised its full-year free cash flow guidance to an increase of more than $1 billion, up from the roughly $1 billion improvement it had forecast in July.

New Mexico judge orders Meta to pay $25 billion over privacy misstatements

A judge in New Mexico has ordered Meta to pay $25 billion in penalties after a Santa Fe jury found the company violated the state's Unfair Practices Act with misleading statements about user privacy, data handling and content moderation. The jury had identified 43 million violations, which could have totaled roughly $219 billion at maximum penalty rates, but Judge Francis Mathew set the final figure at $25 billion, below the state's $35-40 billion request and above Meta's proposed $3.45 billion cap. Meta says it will appeal, and the funds, which accrue 15 percent annual interest until paid, are earmarked for New Mexico's school system.

Trump Administration's TV-Style Messaging Efforts Falter, Including SBA Pitch Special

A new opinion piece argues that Donald Trump's once-vaunted media savvy has eroded, citing his incoherent public appearances, the five-day tenure of press secretary Katie Zacharia after a botched briefing, and a low-profile Small Business Administration broadcast modeled on a reality-TV pitch competition. The SBA special featured business owners pitching to judges including Grant Cardone, Nicki Minaj, and Joe Gebbia in an apparent bid to mimic Trump's old Apprentice format.

Tesla begins Optimus robot production in Fremont as Q3 profit drops 43%

Tesla said it has started manufacturing production-quality units of its Optimus humanoid robot at its Fremont, California plant, previously used solely for EV assembly. The announcement came alongside third-quarter results showing flat revenue of $28.04 billion and net income of $787 million, down 43% year-over-year, as spending on AI and robotics surged.

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