Tech

Einride, a Swedish autonomous electric freight technology company, plans to go public via a SPAC merger with Legato Merger Corp. III, valuing the company at $1.8 billion. Expected to trade on the NYSE in early 2026, the deal aims to generate $219M. Einride boasts a contracted ARR of $65M and a pipeline exceeding $800M, serving over 25 customers in seven countries, including PepsiCo and Heineken. The company offers both driver-operated and autonomous EV freight services, licensing its technology and aiming to reduce emissions in the $4.6 trillion global freight market.

Key takeaways include potential delays in economic data releases due to government shutdown impacts on labor market reports and concerns over “ghost jobs.” A proposed tariff rebate faces skepticism, while importers await a Supreme Court ruling on tariffs. The Senate is drafting digital asset market structure legislation. On, a sportswear company, reported strong earnings, while Oura projects significant sales growth. Consumer sentiment is linked to stock ownership levels.

SoftBank sold its entire Nvidia stake for $5.83 billion in October, not necessarily due to valuation concerns. Instead, the move signals a strategic shift, with proceeds reinvested into generative AI, specifically OpenAI. This reallocation underscores SoftBank’s confidence in generative AI’s long-term potential over a diverse tech portfolio. The decision highlights a concentrated approach, prioritizing transformative AI solutions and reflecting their conviction that substantial investment is needed to unlock these technologies.

Google has filed a lawsuit against a Chinese cybercriminal organization, “Smishing Triad,” alleging they orchestrated a massive SMS phishing campaign using the “Lighthouse” phishing-as-a-service kit. This kit facilitated widespread attacks stealing user data by mimicking recognizable brands. Google invokes RICO, Lanham Act, and CFAA, seeking to dismantle the platform and prevent further harm. The lawsuit details a sophisticated operation with specialized subgroups and millions of compromised credit cards, highlighting Google’s commitment to combating online fraud and supporting legislative measures against cybercrime.

Foxconn reported a 17% year-over-year profit surge in Q3, driven by strong AI server demand. The company beat net profit estimates (NT$57.67B vs. NT$50.41B expected) while meeting revenue expectations. Foxconn is diversifying into AI infrastructure, partnering with Nvidia to manufacture high-performance server racks. The company anticipates continued growth, fueled by AI server shipments and ICT product demand, while also expanding into autonomous vehicles and energy-efficient AI data centers.

Singapore’s Deputy Prime Minister Gan Kim Yong advocates for strengthened ASEAN-EU collaboration, particularly through a digital economic agreement, to navigate global trade tensions. Speaking at the Singapore Fintech Festival, Gan highlighted the potential for enhanced ASEAN-EU ties, envisioning a phased approach to establishing foundational rules for digital collaboration. He also emphasized the need for WTO reform to adapt to contemporary trade challenges and Singapore’s commitment to a multilateral, rules-based trading system. The goal is to support the growing Southeast Asian digital economy, projected to exceed $300 billion in 2025.

SoftBank divested its Nvidia stake for $5.83 billion to reallocate capital to OpenAI, signaling a firm belief in generative AI’s potential. Despite market discussions on AI valuations and concerns raised by figures like Michael Burry, SoftBank’s decision reflects a strategic prioritization of investment, aiming to capitalize on perceived greater opportunities within OpenAI. This move underscores SoftBank’s conviction that OpenAI is poised for significant growth across various sectors, making the increased investment a strategic imperative.

A bipartisan digital asset market structure bill is gaining traction in the U.S. Senate, outlining regulations for the crypto industry. Spearheaded by Senators Boozman and Booker, the draft grants favorable status to cryptocurrencies like Bitcoin and Ether, mandating fund segregation for crypto firms and amplifying the CFTC’s regulatory authority. It also proposes fees for the CFTC and establishes token listing standards. The bill aims to foster innovation while safeguarding investors, marking a significant step towards institutional crypto adoption in the US.

AMD projects 35% annual revenue growth over the next 3-5 years, driven by an 80% annual expansion in its AI data center business, potentially reaching tens of billions in sales by 2027. The company aims for a double-digit share in the data center AI chip market, challenging Nvidia’s dominance. AMD is partnering with OpenAI to supply Instinct AI chips. The total addressable market for AI data centers is estimated to reach $1 trillion by 2030. Despite the AI focus, AMD’s legacy businesses are also experiencing growth.

Rocket Lab (RKLB) shares rose after Q3 results revealed record revenue of $155M, a 48% YoY increase, driven by launch contracts and space tech. Loss per share was better than expected. Q4 revenue guidance of $170M-$180M exceeded estimates. The company boasts a record backlog of 49 launches and is pursuing acquisitions for defense initiatives. Shares surged over 31% last month and have more than doubled YTD. Rocket Lab acquired Geost and opened a new Neutron launch site. Adjusted EBITDA loss in Q3 was $26.3M, with Q4 losses projected between $23M-$29M.