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  • Champagne body attempts to buck Delevingne sisters’ marketing fizz | Food & drink industry

    Champagne body attempts to buck Delevingne sisters’ marketing fizz | Food & drink industry

    A champagne industry body has written to the celebrity Delevingne sisters demanding they stop making references to the drink in the marketing of their vegan prosecco brand.

    Della Vite, founded by Cara, Poppy and Chloe Delevingne, has been accused of exploiting the reputation of champagne, by Comité Champagne, the Times reported.

    Della Vite marketing materials feature the slogan: “Cheat on champagne” and: “Warning: This is not champagne”.

    It has emerged Della Vite received a letter from the industry body, which describes itself as “defending the joint interests of champagne houses and growers”, demanding they stop making reference to champagne in their marketing.

    The sisters refused and the brand has continued with its campaign. Della Vite doubled down and shared a redacted image of the cease-and-desist letter on social media on Wednesday.

    The caption read: “Love letter from our friends at Champagne. As Oscar Wilde once said, ‘The only thing worse than being talked about is not being talked about.’ Salute!”

    Poppy Delevingne, 39, an actor and model, told The Times the campaign was meant to be “fun, cheeky and a little provocative” and they “genuinely didn’t think we’d done anything wrong”.

    She added: “The severity of the response was unexpected, but we were also pleased to see the campaign making an impact and getting noticed.”

    In the letter, which has been seen by the Times, the Comité Champagne wrote: “Any use of the internationally renowned name ‘champagne’ other than in reference to the sparkling wines entitled to this appellation constitutes an unfair exploitation of its reputation.

    “Moreover, such misuse risks tarnishing the name and damaging the goodwill associated with the champagne destination.”

    Numa Heathcote, chief executive and co-founder of Della Vite, told the newspaper: “We see this reaction as proof that modern challenger sparkling brands are reshaping the conversation around quality. If the established champagne world feels a little unsettled, it’s because a new generation of drinkers is defining luxury on its own terms and brands like Della Vite are part of that shift.”

    Della Vite was founded by the Delevingne sisters in 2020.

    Della Vite and Comité Champagne have been contacted for comment.

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  • Hyundai Motor Group Announces NVIDIA Blackwell AI Factory to Power Fleet of AI-Driven Mobility Solutions

    • Hyundai Motor Group and NVIDIA will collaborate with the Korean government to develop Korea’s physical AI industry, including the establishment of an AI application center and AI technology center, while nurturing local AI talent to build a vibrant innovation ecosystem
    • Hyundai Motor Group is building an AI factory with NVIDIA to accelerate model training, validation and deployment for in-vehicle AI, autonomous driving, smart factories and robotics
    • Hyundai Motor Group is beginning to leverage NVIDIA Omniverse and Cosmos running on NVIDIA RTX PRO Servers to develop car factory digital twins and robots
    • With NVIDIA Nemotron open models and NVIDIA NeMo tools, Hyundai Motor Group is speeding proprietary LLM and AI development
    • Using NVIDIA DRIVE AGX Thor, running on the safety-certified DriveOS operating system, Hyundai Motor Group is expecting to deliver advanced driver assistance systems, next-generation safety features and in-vehicle intelligence for mobility solutions

    GYEONGJU, South Korea, Oct. 31, 2025 /PRNewswire/ — Hyundai Motor Group and NVIDIA today announced they are deepening their collaboration to accelerate innovation in autonomous vehicles (AVs), smart factories and robotics with a new AI factory, powered by NVIDIA Blackwell AI infrastructure

    Building on their previous work together , Hyundai Motor Group and NVIDIA are now entering a new phase of collaboration, shifting from strategic adoption of advanced software platforms and infrastructure to joint innovation of core physical AI technologies. Together, they will co-develop AI capabilities for mobility solutions, next-generation smart factories, and on-device semiconductor advancements to strengthen Hyundai Motor Group’s future capabilities.

    As part of this endeavor, Hyundai Motor Group and NVIDIA aim to enable integrated AI model training, validation and deployment using 50,000 NVIDIA Blackwell GPUs.

    In addition, in support of the Korean government’s initiative to build a national physical AI cluster, Hyundai Motor Group and NVIDIA will work closely with government stakeholders to accelerate ecosystem development. This will result in an approximately $3 billion investment to advance the physical AI landscape in Korea.

    Key efforts include the establishment of Hyundai Motor Group’s Physical AI Application Center, NVIDIA AI Technology Center, and physical AI data centers in the region. To formalize this collaboration, the Ministry of Science and ICT of the Republic of Korea, Hyundai Motor Group, and NVIDIA signed a Memorandum of Understanding on October 31. This collaboration will also foster dynamic exchanges with NVIDIA’s world-class engineers and technicians, helping to cultivate Korea’s next generation of physical AI talent.

    “For Korea to leap forward as a leading nation in AI, the advancement of physical AI is essential – a key initiative championed by the Ministry of Science and ICT. This inaugural step in public-private collaboration to foster physical AI is therefore incredibly significant,” said Bae Kyung-hoon, Deputy Prime Minister and Minister of Science and ICT of the Republic of Korea. “Korea has a strong foundation in manufacturing. By combining Korea’s rich manufacturing data with NVIDIA’s cutting-edge AI infrastructure, we expect to build a Win-Win model through collaboration with domestic companies, thereby accelerating innovative AI transformation (AX) in manufacturing across industries,” he emphasized.

    “As we enter a new era of AI-powered mobility and smart factory, deepening our collaboration with NVIDIA marks a pivotal step forward,” said Euisun Chung, Executive Chair of Hyundai Motor Group. “Together, we are not only building advanced technologies but also laying the foundation for a robust AI ecosystem in Korea—one that fosters innovation, nurtures talent, and positions us at the forefront of global AI leadership.”

    “AI will revolutionize every facet of every industry. In transportation alone — from vehicle design and manufacturing to robotics and autonomous driving — NVIDIA’s AI and computing platforms are transforming how the world moves,” said Jensen Huang, founder and CEO of NVIDIA. “Together with Hyundai Motor Group — Korea’s industrial powerhouse and one of the world’s top mobility solutions providers— we’re building intelligent cars and factories that will shape the future of the multitrillion-dollar mobility industry.”

    Hyundai Motor Group Advances Automotive with NVIDIA AI Factory

    With its NVIDIA Blackwell-based AI factory, Hyundai Motor Group will deploy essential infrastructure for powering every phase of innovation — bringing together in-vehicle AI, autonomous driving, factory automation and robotics into one intelligent, interconnected ecosystem.

    Hyundai Motor Group is using the three NVIDIA AI compute platforms that serve as the infrastructure for physical AI and robotics:

    Together, these computing platforms form the backbone of AI and car factories, enabling the transportation industry to develop, validate and deploy advanced physical AI at scale.

    Building Smart Factories and Safe Cars of the Future

    As part of the expanded collaboration, unveiled earlier this year, Hyundai Motor Group will use the NVIDIA Omniverse Enterprise platform to develop robust factory digital twins — virtual replicas of manufacturing environments that unify and manage factory data — as well as enable precision control, software- and hardware-in-the-loop validation, discrete event simulation and virtual commissioning.

    These physically accurate digital environments accelerate robot integration, optimize production, enable predictive maintenance and pave the way for fully autonomous, software-defined factories — reshaping how vehicles are designed and manufactured.

    Omniverse Enterprise also extends to humanoid and robotic systems using NVIDIA Isaac Sim—an open robotics reference framework built on NVIDIA Omniverse. This allows virtual validation of task assignments, motion planning and ergonomic safety before robot deployment on physical production lines, significantly accelerating robot integration and maximizing productivity.

    Hyundai Motor Group is also testing the use of NVIDIA Omniverse and Cosmos platforms on NVIDIA RTX PRO Servers (with NVIDIA RTX PRO 6000 Blackwell Server Edition GPUs) to build digital twins of regional driving environments and conditions, incorporating extensive simulations to advance its development pipeline. These sophisticated capabilities place Hyundai Motor Group at the forefront of scalable, next-generation autonomous driving.

    Advanced AI models — built with NVIDIA Nemotron open AI reasoning models and NVIDIA NeMo software could enable over‑the‑air updates of capabilities and features across vehicles. In addition to autonomy capabilities, Hyundai Motor Group will cooperate on these advanced models to develop a range of innovative in‑vehicle AI features, from personalized digital assistants to intelligent infotainment and adaptive comfort systems, powered by these advanced models. This transforms vehicles into continuously learning, evolving intelligent agents.

    Inside the vehicle, NVIDIA DRIVE AGX Thor, accelerated compute running on safety-certified DriveOS operating system,  is set to provide the AI compute power for advanced driver-assistance and next-generation safety features, as well as immersive in-vehicle AI experiences.

    With NVIDIA, Hyundai Motor Group is evolving its vehicles and factories from independent systems into a single, interconnected and intelligent ecosystem, setting a new standard for the future of the global automotive industry.

    About Hyundai Motor Group

    Hyundai Motor Group is a global enterprise that has created a value chain based on mobility, steel, and construction, as well as logistics, finance, IT, and service. With about 250,000 employees worldwide, the Group’s mobility brands include Hyundai, Kia, and Genesis. Armed with creative thinking, cooperative communication, and the will to take on any challenges, we strive to create a better future for all.

    More information about Hyundai Motor Group can be found at: http://www.hyundaimotorgroup.com or Newsroom: Media Hub by Hyundai, Kia Global Media Center (kianewscenter.com), Genesis Newsroom

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  • Jensen Huang Eats Fried Chicken–Triggers Stock Frenzy in South Korea

    Jensen Huang Eats Fried Chicken–Triggers Stock Frenzy in South Korea

    This article first appeared on GuruFocus.

    Nvidia’s (NASDAQ:NVDA) Jensen Huang may have just turned a Seoul fried chicken dinner into a stock market spectacle. Photos of Huang sharing beers and fried chicken with Samsung Electronics (SSNLF) Chair Jay Y. Lee and Hyundai Motor Executive Chair Chung Euisun at Kkanbu Chicken went viral this week, setting off a speculative buying frenzy across South Korea’s retail-heavy market. While Kkanbu itself isn’t listed, investors rushed into anything that even smelled of chicken Kyochon F&B soared as much as 20%, poultry processor Cherrybro hit its daily 30% limit with trading volumes nearly 200 times average, and robot maker Neuromeka jumped sharply. It’s the latest reminder that in Korea, virality can move markets faster than fundamentals ever could.

    But behind the viral moment sits a deeper play. Huang’s trip to Seoul wasn’t just about beer and banter it was about business. Nvidia has been pushing to expand its presence in South Korea, a crucial supply chain hub as the company faces tighter export restrictions in China. During his visit, Huang announced fresh AI chip deals with Samsung and Hyundai moves that could strengthen Nvidia’s foothold in memory and automotive computing. For the Korean conglomerates, closer ties with Nvidia could mean a steadier supply of the high-end GPUs that power next-generation artificial intelligence systems.

    Huang’s influence has become something of a phenomenon in its own right. Over the past year, several smaller AI firms have seen their shares surge after he casually name-dropped them in presentations. Now, his simple dinner outing has triggered a similar reaction only this time, it’s a fried chicken rally. As Huang told reporters outside the Seoul restaurant, I love fried chicken and I love beer and I love fried chicken and beer with my friends. For investors watching the AI boom unfold, it could be another sign that Nvidia’s reach cultural or commercial is still expanding.

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  • Italy on right track to solve Pirelli’s governance issues, minister says

    Italy on right track to solve Pirelli’s governance issues, minister says

    MILAN, Oct 31 (Reuters) – Italy’s government and Pirelli (PIRC.MI), opens new tab shareholders are on the right track to find a solution to issues created by having China’s Sinochem (600500.SS), opens new tab as the tyremaker’s largest shareholder, Industry Minister Adolfo Urso said on Friday as he visited a company facility in Milan.

    Pirelli’s Italian investor Camfin has complained that Sinochem’s presence is hindering its expansion plans in the United States, as Washington tightens restrictions on Chinese technology in the automotive sector.

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    The key issue relates to Pirelli’s so-called Cyber Tyres, which are fitted with a technology to collect data during motion and transfer the information in real time to the vehicle.

    GOVERNMENT WILL PLAY ITS PART IN FINDING SOLUTION

    “We know we are on the right track, and everyone is aware that we need to find the best solution to ensure the development of this cutting-edge technology worldwide and, therefore, of this company,” Urso said at the end of his visit.

    “I think we will be in a position, (shareholders) will be in a position, to achieve this goal because the government will obviously play its part to the full,” Urso said.

    He was accompanied on the visit by Marco Tronchetti Provera, the Italian businessman who has led Pirelli since 1992 and is now its executive vice-chairman, and by CEO Andrea Casaluci.

    Asked whether it was realistic to expect an accord for Pirelli’s governance by the spring of next year, when the company is due to renew its board, Urso said he was confident “a desirable solution will arrive in time for the company to finally be able to operate fully in the most significant and promising markets, starting with the American one”.

    “It’s shareholders who will find the right solution. We have created the conditions for this to happen,” he added.

    After the government last month ruled Sinochem was not breaching rules meant to protect Pirelli’s autonomy, the Chinese state-backed group opened up to a possible sale of its Pirelli stake, or part of it, if an offer came with a premium, sources have told Reuters.

    Reporting by Giulio Piovaccari; Writing by Sara Rossi and Giulio Piovaccari; Editing by Alvise Armellini and David Holmes

    Our Standards: The Thomson Reuters Trust Principles., opens new tab

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  • Hyundai Motor Group Announces NVIDIA Blackwell AI Factory to Power Fleet of AI-Driven Mobility Solutions

    • Hyundai Motor Group and NVIDIA will collaborate with the Korean government to develop Korea’s physical AI industry, including the establishment of an AI application center and AI technology center, while nurturing local AI talent to build a vibrant innovation ecosystem
    • Hyundai Motor Group is building an AI factory with NVIDIA to accelerate model training, validation and deployment for in-vehicle AI, autonomous driving, smart factories and robotics
    • Hyundai Motor Group is beginning to leverage NVIDIA Omniverse and Cosmos running on NVIDIA RTX PRO Servers to develop car factory digital twins and robots
    • With NVIDIA Nemotron open models and NVIDIA NeMo tools, Hyundai Motor Group is speeding proprietary LLM and AI development
    • Using NVIDIA DRIVE AGX Thor, running on the safety-certified DriveOS operating system, Hyundai Motor Group is expecting to deliver advanced driver assistance systems, next-generation safety features and in-vehicle intelligence for mobility solutions

    GYEONGJU, South Korea, Oct. 31, 2025 /PRNewswire/ — Hyundai Motor Group and NVIDIA today announced they are deepening their collaboration to accelerate innovation in autonomous vehicles (AVs), smart factories and robotics with a new AI factory, powered by NVIDIA Blackwell AI infrastructure

    Building on their previous work together , Hyundai Motor Group and NVIDIA are now entering a new phase of collaboration, shifting from strategic adoption of advanced software platforms and infrastructure to joint innovation of core physical AI technologies. Together, they will co-develop AI capabilities for mobility solutions, next-generation smart factories, and on-device semiconductor advancements to strengthen Hyundai Motor Group’s future capabilities.

    As part of this endeavor, Hyundai Motor Group and NVIDIA aim to enable integrated AI model training, validation and deployment using 50,000 NVIDIA Blackwell GPUs.

    In addition, in support of the Korean government’s initiative to build a national physical AI cluster, Hyundai Motor Group and NVIDIA will work closely with government stakeholders to accelerate ecosystem development. This will result in an approximately $3 billion investment to advance the physical AI landscape in Korea.

    Key efforts include the establishment of Hyundai Motor Group’s Physical AI Application Center, NVIDIA AI Technology Center, and physical AI data centers in the region. To formalize this collaboration, the Ministry of Science and ICT of the Republic of Korea, Hyundai Motor Group, and NVIDIA signed a Memorandum of Understanding on October 31. This collaboration will also foster dynamic exchanges with NVIDIA’s world-class engineers and technicians, helping to cultivate Korea’s next generation of physical AI talent.

    “For Korea to leap forward as a leading nation in AI, the advancement of physical AI is essential – a key initiative championed by the Ministry of Science and ICT. This inaugural step in public-private collaboration to foster physical AI is therefore incredibly significant,” said Bae Kyung-hoon, Deputy Prime Minister and Minister of Science and ICT of the Republic of Korea. “Korea has a strong foundation in manufacturing. By combining Korea’s rich manufacturing data with NVIDIA’s cutting-edge AI infrastructure, we expect to build a Win-Win model through collaboration with domestic companies, thereby accelerating innovative AI transformation (AX) in manufacturing across industries,” he emphasized.

    “As we enter a new era of AI-powered mobility and smart factory, deepening our collaboration with NVIDIA marks a pivotal step forward,” said Euisun Chung, Executive Chair of Hyundai Motor Group. “Together, we are not only building advanced technologies but also laying the foundation for a robust AI ecosystem in Korea—one that fosters innovation, nurtures talent, and positions us at the forefront of global AI leadership.”

    “AI will revolutionize every facet of every industry. In transportation alone — from vehicle design and manufacturing to robotics and autonomous driving — NVIDIA’s AI and computing platforms are transforming how the world moves,” said Jensen Huang, founder and CEO of NVIDIA. “Together with Hyundai Motor Group — Korea’s industrial powerhouse and one of the world’s top mobility solutions providers— we’re building intelligent cars and factories that will shape the future of the multitrillion-dollar mobility industry.”

    Hyundai Motor Group Advances Automotive with NVIDIA AI Factory

    With its NVIDIA Blackwell-based AI factory, Hyundai Motor Group will deploy essential infrastructure for powering every phase of innovation — bringing together in-vehicle AI, autonomous driving, factory automation and robotics into one intelligent, interconnected ecosystem.

    Hyundai Motor Group is using the three NVIDIA AI compute platforms that serve as the infrastructure for physical AI and robotics:

    Together, these computing platforms form the backbone of AI and car factories, enabling the transportation industry to develop, validate and deploy advanced physical AI at scale.

    Building Smart Factories and Safe Cars of the Future

    As part of the expanded collaboration, unveiled earlier this year, Hyundai Motor Group will use the NVIDIA Omniverse Enterprise platform to develop robust factory digital twins — virtual replicas of manufacturing environments that unify and manage factory data — as well as enable precision control, software- and hardware-in-the-loop validation, discrete event simulation and virtual commissioning.

    These physically accurate digital environments accelerate robot integration, optimize production, enable predictive maintenance and pave the way for fully autonomous, software-defined factories — reshaping how vehicles are designed and manufactured.

    Omniverse Enterprise also extends to humanoid and robotic systems using NVIDIA Isaac Sim—an open robotics reference framework built on NVIDIA Omniverse. This allows virtual validation of task assignments, motion planning and ergonomic safety before robot deployment on physical production lines, significantly accelerating robot integration and maximizing productivity.

    Hyundai Motor Group is also testing the use of NVIDIA Omniverse and Cosmos platforms on NVIDIA RTX PRO Servers (with NVIDIA RTX PRO 6000 Blackwell Server Edition GPUs) to build digital twins of regional driving environments and conditions, incorporating extensive simulations to advance its development pipeline. These sophisticated capabilities place Hyundai Motor Group at the forefront of scalable, next-generation autonomous driving.

    Advanced AI models — built with NVIDIA Nemotron open AI reasoning models and NVIDIA NeMo software could enable over‑the‑air updates of capabilities and features across vehicles. In addition to autonomy capabilities, Hyundai Motor Group will cooperate on these advanced models to develop a range of innovative in‑vehicle AI features, from personalized digital assistants to intelligent infotainment and adaptive comfort systems, powered by these advanced models. This transforms vehicles into continuously learning, evolving intelligent agents.

    Inside the vehicle, NVIDIA DRIVE AGX Thor, accelerated compute running on safety-certified DriveOS operating system,  is set to provide the AI compute power for advanced driver-assistance and next-generation safety features, as well as immersive in-vehicle AI experiences.

    With NVIDIA, Hyundai Motor Group is evolving its vehicles and factories from independent systems into a single, interconnected and intelligent ecosystem, setting a new standard for the future of the global automotive industry.

    About Hyundai Motor Group

    Hyundai Motor Group is a global enterprise that has created a value chain based on mobility, steel, and construction, as well as logistics, finance, IT, and service. With about 250,000 employees worldwide, the Group’s mobility brands include Hyundai, Kia, and Genesis. Armed with creative thinking, cooperative communication, and the will to take on any challenges, we strive to create a better future for all.

    More information about Hyundai Motor Group can be found at: http://www.hyundaimotorgroup.com or Newsroom: Media Hub by Hyundai, Kia Global Media Center (kianewscenter.com), Genesis Newsroom

    SOURCE Hyundai Motor Group

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  • Addicts who opted to be banned from gambling in Australia targeted to bet with overseas firms | Gambling

    Addicts who opted to be banned from gambling in Australia targeted to bet with overseas firms | Gambling

    Offshore gambling companies are using third-party websites to entice Australian addicts to resume betting, even after gamblers have placed voluntary restrictions on themselves.

    The new trend, targeting those registered with the federal government’s BetStop service, has been condemned as “deeply concerning and opportunistic” by the media regulator, which has begun contacting the websites to “make them aware of Australia’s interactive gambling laws”.

    Offshore gambling companies are banned from targeting Australians. But they have been paying websites that promote their inducements, link to their pages and instruct people on how to bypass the BetStop service, which is designed to block registrants from gambling.

    The websites, whose URLs occasionally reference Australian cities, are paid a commission if readers follow their recommendations and gamble with overseas agencies, which are predominately based in the Dutch Caribbean island of Curaçao.

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    In some cases, they appeal to addicts who may want to resume betting before their self-exclusion period expires. Lifting this ban early requires a statutory declaration confirming a registrant has received counselling from a qualified professional.

    One website – promoting a gambling business that offers up to $10,800 in “welcome bonuses”, which is illegal in Australia – suggests people registered with BetStop may have made a “rash decision” and provides advice to continue gambling.

    Another site claims offshore bookmakers offered “an enhanced level of security”.

    Regulators in Australia have warned the opposite is true.

    BetStop, which was launched in August 2023, allows people to be blocked from gambling, and bookmakers are also banned from contacting them. The scheme, which has 45,000 registrants, only applies to Australian companies.

    Under Australian law, offshore gambling companies are banned form targeting Australian consumers and encouraging them to gamble.

    But there are no restrictions on third-party affiliates promoting their products in return for payment.

    Australia’s media regulator has been concerned about affiliate marketers promoting illegal gambling services for many years. But the targeting of people listed on BetStop is a relatively new tactic.

    “This is a deeply concerning and opportunistic practice that attempts to undermine the purpose of the national self-exclusion register”, an Australian Communications and Media Authority (Acma) spokesperson said.

    The websites, which Guardian Australia has chosen not to name to protect consumers, promote a lack of regulation and generous inducements. One promotes offshore companies as having to adhere to “less challenging gambling laws”.

    Most websites acknowledge they are affiliated with the bookmakers they promote, and some confirm they receive commissions from them.

    Nerilee Hing, a professor at CQUniversity who has researched affiliate marketing in the gambling industry, said targeting people who had registered with BetStop was “a clear example of predatory practices that aims to attract the most vulnerable”.

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    “Unfortunately, the current regulatory environment has limited capacity to monitor and prevent harmful and illegal practices by affiliates, regardless of whether they are acting on behalf of Australian-licensed or offshore operators,” Hing said.

    The Alliance for Gambling Reform’s chief executive, Martin Thomas, said the practice was “gravely concerning” and should be treated seriously.

    “It appears a deliberate undermining of BetStop which the government repeatedly boasts as one of its key achievements on gambling reform,” Thomas said.

    Kai Cantwell, the chief executive of Responsible Wagering Australia, which represents some of the biggest online bookmakers regulated in Australia, agreed.

    “[Acma] should be given the power and tools they need to actually block these sites, cut off their payments and shut down the affiliate networks that funnel people into harm”.

    Affiliate marketing does occur in Australia, but it cannot target those on BetStop. An inquiry led by the late Labor MP Peta Murphy called for the practice to be banned.

    Consumer advocate Lauren Levin said blocking access to offshore gambling websites was ineffective as they merely returned with slightly different URLs. She instead said banks should be stopped from sending money to unlicensed gambling operators.

    In Australia, Gambling Help Online is available on 1800 858 858. The National Debt Helpline is at 1800 007 007. In the UK, support for problem gambling can be found via the NHS National Problem Gambling Clinic on 020 7381 7722, or GamCare on 0808 8020 133. In the US, call the National Council on Problem Gambling at 800-GAMBLER or text 800GAM.

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  • The U.S. Dollar Gets More Fuel From Powell's Doubts About December Rate Cut – Seeking Alpha

    1. The U.S. Dollar Gets More Fuel From Powell’s Doubts About December Rate Cut  Seeking Alpha
    2. Bullish US Dollar Consolidation  Forex Factory
    3. USD: Further gains harder to justify – ING  FXStreet
    4. Forex Markets Poised For Central Bank Announcements  FinanceFeeds
    5. US Dollar Eyes Breakout as EUR/USD, GBP/USD Probe Support, USD/JPY Rallies  FOREX.com

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  • OPEC+ likely to agree small oil output increase for December, sources say – Reuters

    1. OPEC+ likely to agree small oil output increase for December, sources say  Reuters
    2. Oil moves on report, denial of US attack plan on Venezuela  Reuters
    3. Oil prices dip amid dollar pressure, set for third straight month of losses  Investing.com
    4. OPEC+ poised for modest December output hike amid oversupply concerns  Profit by Pakistan Today
    5. Oil prices cling to most gains, all eyes on US-China trade-talk outcome  Business Recorder

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  • Amazon shares soar as AI boom fuels stellar growth in AWS cloud unit – Reuters

    1. Amazon shares soar as AI boom fuels stellar growth in AWS cloud unit  Reuters
    2. Amazon.com Announces Third Quarter Results  Business Wire
    3. The AWS acceleration may only be getting started  MarketWatch
    4. Amazon’s earnings rally shines spotlight on the ETF market  Seeking Alpha
    5. Amazon stock soars 13% as earnings, cloud growth power shares  qz.com

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  • Amazon’s stock soars as earnings show ‘the AI narrative has flipped positive’

    Amazon’s stock soars as earnings show ‘the AI narrative has flipped positive’

    By Emily Bary

    Investors were worried AWS was falling behind in AI. A new growth trajectory has restored confidence in Amazon’s cloud business.

    AWS’s revenue growth saw a major uptick in the third quarter, and analysts see more room for acceleration.

    UBS analyst Stephen Ju likened Amazon’s stock to a “coiled spring” ahead of earnings. Now investors are quickly seeing its powerful release.

    Amazon’s stock (AMZN) has been bottled up this year, held back by ho-hum cloud growth that raised investor concerns about the competitiveness of AWS, the company’s profit engine. But AWS reignited in the latest quarter, and with more capacity coming online, Wall Street is upbeat about what’s to come.

    Amazon’s stock is up more than 11% shortly after Friday’s open.

    Evercore ISI analyst Mark Mahaney wrote of an “AWS unlock” as the cloud unit’s 20% year-over-year revenue growth rate in the third quarter was its fastest in 11 quarters. Amazon also cited a 150% sequential boom in revenue from its Trainium custom-chip business, which had been another source of investor doubt before the report.

    With those trends in tow, “the AI narrative has flipped positive for AWS,” Mahaney said in a note to clients.

    See also: Amazon earnings are out. Here’s why the stock is soaring.

    Wedbush’s Scott Devitt also honed in on a “positive narrative shift,” while commenting that Amazon’s executive team appears to have won more credibility.

    “Following a reacceleration in AWS growth and positive commentary this quarter, we believe investors have regained comfort in management’s ability to retain a leading position in the AI space,” he said in a report.

    AWS’s growth went from 17.5% in the June quarter to 20.2% in the September quarter and could be 22% in the December quarter, according to Devitt.

    “We are encouraged by the implied level of demand in the coming quarters given the pace of backlog growth and a higher [capital-expenditure] guide for 2025,” he wrote. “We think management’s revenue guide suggests a sequential acceleration in AWS growth” in the fourth quarter as well.

    Mizuho’s Lloyd Walmsley said management seemed to be “intentionally avoiding the term ‘accelerate,’” but he, too, thinks AWS’s growth rate will pick up in the fourth quarter. His projection for the segment calls for 21% growth.

    And Amazon’s stock can move higher as well, Walmsley said, citing a depressed 24x forward price-to-earnings multiple versus the company’s three-year average of 31x.

    “Bottom line, we believe shares are set for a meaningful rebound,” he wrote. Amazon’s stock was the worst year-to-date performer in the “Magnificent Seven” heading into earnings, with a roughly 2% gain that also meaningfully lagged the S&P 500’s SPX 17% rise over the same span.

    Don’t miss: The ‘no-hire, no-fire’ job market may have ended, as Amazon, UPS make bold layoff moves

    While AWS gets a lot of attention because of its importance to Amazon’s profits and its perception as a gauge of early AI monetization, analysts saw things to like elsewhere in the technology giant’s business.

    Advertising also punches above its weight in terms of its profit impact at Amazon, and that business grew 24% in the quarter, showing a further acceleration from the 23% rate sported in the June quarter.

    In thinking about advertising and AWS, Pivotal Research Group’s Jeffrey Wlodarczak said that Amazon “operates two high-margin growthy businesses,” on top of its “massive low-margin logistics business with unmatched scale with the potential to materially juice margins medium to long-term using AI in combination with robotics.”

    In retail, Mahaney called out “robust” and “consistent” growth. Retail makes up the lion’s share of Amazon’s revenue even though it’s less profitable than advertising and the cloud.

    E-commerce and advertising “are monsters and have strong catalysts near term,” Mizuho trading-desk analyst Jordan Klein added.

    With Amazon’s businesses all humming and AWS growth ticking higher, investors seem willing to put up with heightened AI spending: The company now expects $125 billion in capital expenditures for the year, up from $100 billion previously.

    See more: Meta’s stock slide erases $215 billion in market value, as Wall Street pans ‘runaway’ AI spending

    -Emily Bary

    This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. 

    
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