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Chewy posted second quarter fiscal 2026 results with adjusted earnings matching forecasts and net sales ahead of expectations, then raised its outlook as Autoship and AI driven efficiencies took center stage. The update lands after a tough stretch for the stock, with the share price down 43.42% year to date and the 1-year total shareholder return declining 51.45%, even as the 3-year total shareholder return remains positive at 11.47%. A 7-day share price return of 4.29% suggests investors are tentatively reassessing the balance between future growth potential and perceived risk at the current US$18.95 level. Chewy is priced at $18.95 against a widely followed fair value estimate of $28.64 that uses an 8.56% discount rate, a gap that turns the Autoship, pet health and AI cost story into a valuation question rather than just an earnings story. On the earnings multiple, Chewy trades at 27.8x earnings compared with a fair ratio of 20.7x, the US Specialty Retail average of 16.5x and a 15.6x peer average, a richer tag that increases the risk any stumble in the thesis affects the multiple first.

SpaceX has agreed to acquire Grain Management's nationwide portfolio of low-band wireless spectrum licenses, advancing the Elon Musk-led company's effort to compete with Verizon Communications Inc., AT&T Inc. and T-Mobile Us Inc. The agreement covers spectrum in the 800 MHz band and remains subject to approval by the Federal Communications Commission; SpaceX says the licenses will complement Starlink Mobile's existing satellite capabilities with terrestrial connectivity. The FCC has also authorized SpaceX to deploy 15,000 next-generation Starlink satellites optimized for mobile connectivity, and together the spectrum acquisition and satellite expansion move the company closer to offering a more comprehensive mobile service. Musk made his ambitious prediction in an Oct. 8 post on X, saying he sees a path to SpaceX being worth orders of magnitude more than the current Earth economy. Investors should watch for regulatory approval, launch timelines, pricing announcements and evidence of customer adoption, as the next test is whether SpaceX can persuade consumers to switch networks or pay less to stay connected.

Amazon.com is reportedly considering moving roughly $8 billion of Nvidia Grace Blackwell chips into a special-purpose vehicle financed by outside investors and then leasing the hardware back, a structure that would make part of its AI buildout more asset-light as capital spending is expected to reach $220 billion this year. AWS revenue rose 37% to $42.2 billion in the second quarter, its fastest growth in more than four years, and contract backlog reached $496 billion, while CEO Andy Jassy said the company still lacks enough capacity to meet demand. Trailing-12-month free cash flow swung to negative $7.6 billion from positive $18.2 billion a year earlier as infrastructure spending accelerated. Amazon trades at 23.64 times forward earnings, and Tigress Financial recently raised its target to $385 from $315, arguing earnings from the investment cycle are approaching an inflection point where they grow faster than operating capital. The proposal also raises the question of residual chip value, since Grace Blackwell will eventually be superseded by Vera Rubin while Amazon assumes semiconductor generations remain useful for at least five years.

Veeva Systems is drawing renewed attention after Eli Lilly committed to deploying its Vault CRM globally in August and Amgen followed in September, moving established customers onto the company's newer commercial platform. For the quarter ended July 31, Veeva reported revenue up 18% to $928 million, including 16% subscription growth, while GAAP operating income rose 40% to $275 million and adjusted diluted EPS climbed to $2.35 from $1.99. The company's updated full-year outlook calls for approximately $3.68 billion in revenue and adjusted diluted EPS of approximately $9.21. Veeva shares trade at roughly 29.7x forward earnings versus 15.5x for Salesforce, and the stock returned 61.1% between March 30 and October 5. Insider Monkey tracked 61 hedge funds holding Veeva in the second quarter, down from 62 in the first, with short interest at 3.35% of float.

GigaCloud Technology reported second-quarter revenue of $411.6 million, up 27.6% year over year, with net income rising 22.3% to $42.3 million and diluted earnings per share of $1.16. Gross margin expanded to 25.6% from 23.9%, while over the twelve months ended June 30 active buyers increased 17.1% to 12,823 and third-party merchandise volume grew 27% to $962.3 million, accounting for 55.2% of marketplace volume. In August the company replaced its previous buyback authorization with a new $120 million, three-year program. The results drew attention after Mad Money host Jim Cramer, answering a caller's query on October 7, called GigaCloud one of the most speculative stocks on earth, though the shares trade at roughly 10.9x forward earnings versus 31.3x for Wayfair. Management guided third-quarter revenue to $375 million to $400 million, below the second-quarter total, and the company flagged longer customs-clearance times and U.S. port disruptions, with short interest at 15.12% of the public float and 24 hedge funds holding the stock in Q2 versus 20 in Q1.

GlobalFoundries announced FDX Fusion, a next-generation FD-SOI platform to be developed and manufactured in Dresden for highly integrated, energy-efficient Physical AI chips spanning sensing, compute, control and connectivity functions. The platform blends seven nanometer class digital performance with advanced RF, analog and embedded memory on a single chip aimed at edge and automotive, industrial and consumer AI systems. The launch fits GlobalFoundries' broader shift away from weaker smart mobile demand toward automotive, industrial, communications and AI applications, though it does not immediately change the near term risk that higher investment and oversubscribed niches like SiGe could still coexist with only high 80s percent fab utilization. Among recent announcements, a US$2 billion, five year silicon interposer deal with TSMC reinforces GlobalFoundries' role in AI hardware supply alongside FDX Fusion, with the Dresden FDX roadmap and Malta advanced packaging capacity sitting squarely against the key catalyst of moving its revenue mix toward higher value, AI linked processes. GlobalFoundries' narrative projects $10.4 billion revenue and $1.7 billion earnings by 2029, requiring 14.5% yearly revenue growth and a roughly $1.0 billion earnings increase from $716.0 million today, while the most optimistic analysts already assumed about US$11.7 billion of revenue and US$2.3 billion of earnings by 2029.

Apple has disclosed in a regulatory filing that it reached an agreement to hire team members and license technology from personalized audio startup Huxe, in what is commonly known as a reverse acqui-hire. Apple told the European Commission it agreed to make employment offers to certain employees of Huxe AI and to receive a non-exclusive license to Huxe's intellectual property rights. Huxe was founded by developers who had previously worked on the AI-generated podcast features in NotebookLM, recently renamed Gemini Notebook, and the startup announced on May 21 that it was shutting down, pulling its app from the Apple and Google stores, halting service, and deleting user data. Apple notified the European Commission of the deal on June 9, shortly after Huxe's shutdown announcement. The filing does not say who received employment offers or whether they accepted, nor does it disclose Apple's plans; Huxe's shutdown came just a day after Spotify unveiled AI-powered podcast generation features of its own.

Schneider Electric SE agreed to acquire U.S.-based engineering software developer PTC Inc. for $22.6 billion, or €20.1 billion, paying $205 per share in an all-cash deal. The transaction was among a string of major deals reported across sectors this week. Viatris said it will acquire all outstanding shares of Pacira BioSciences for $36.50 per share in cash, an aggregate equity value of $1.65 billion, while CD&R and McKesson agreed to acquire Option Care Health for $32.05 per share, valuing it at approximately $5.8 billion including debt, sending its shares up 34% in early trading Tuesday. Energy Transfer agreed to acquire Vaquero Midstream in a $2.625 billion deal consisting of $1.95 billion in cash and about 33.3 million newly issued Energy Transfer common units, and Cenovus Energy agreed to acquire Athabasca Oil in a cash-and-stock deal valued at about C$5.7 billion, a 14% premium to Athabasca's 20-day volume-weighted average trading price. Canadian utilities Emera and Canadian Utilities agreed to an all-stock merger worth C$14.3 billion, or US$10 billion, creating a combined company with a C$72 billion enterprise value and a regulated rate base of C$45 billion serving roughly 6 million customers. Separately, TKO LLC proposed to acquire Service Properties Trust's entire hospitality portfolio for $2.0 billion, and CCC Intelligent Solutions soared 13% in after-hours trading on a report that GTCR and Elliott Investment Management are in advanced discussions to purchase the car-insurance software firm.

Nvidia is in early-stage discussions to acquire or increase its investment in Reflection AI, a U.S. startup focused on developing open-weight models, the Financial Times reported, citing people familiar with the discussions. The structure of a potential deal could take several forms, including a so-called acqui-hire that would let Nvidia hire staff and license technology while avoiding antitrust scrutiny tied to a full acquisition, and deal terms currently under discussion were not available. Nvidia, the world's most valuable company, has already invested $800M into Reflection, which was last valued at $25B in a March funding round. Nvidia, whose CEO Jensen Huang has in the past called for an open-weight ecosystem for AI, could also make an additional equity investment in Reflection or reach an agreement to supply more chips or computing power to the company. Multiple people with knowledge of the matter said a deal could be reached in the coming weeks, while cautioning that the companies could also walk away from the talks; Nvidia and Reflection did not respond to the Financial Times' requests for comment.

Venture Global has signed a new long-term LNG sales deal with ConocoPhillips while drawing a cut to its Q3 adjusted EBITDA estimate from RBC Capital Markets. The Sales and Purchase Agreement commits ConocoPhillips to buy 1.0 million tonnes per annum of LNG from 2030 for 20 years. RBC Capital Markets reduced its Q3 adjusted EBITDA estimate for Venture Global, citing basis differential headwinds, while maintaining a positive view on the stock. Venture Global shares trade at US$13.16, having pulled back around 14% on a 1 month share price basis after an 87% year to date share price return, with a 1 year total shareholder return of about 40%. The most followed narrative pegs fair value at about $16.67 per share, implying the stock is 21% undervalued, though that view could fray if Calcasieu Pass arbitration outcomes absorb more cash than expected or if LNG pricing weakens faster than analysts currently model.

Tesla delivered 95,366 China-made electric vehicles in September, a 5% increase from 90,812 vehicles a year earlier that extended its year-over-year growth streak to 11 consecutive months. The Shanghai factory shipped Model 3 and Model Y vehicles to China, Europe, Asia-Pacific and Canada during the month, according to Reuters, citing the China Passenger Car Association. Third-quarter deliveries from Shanghai rose 13.7%, even as Tesla's worldwide deliveries fell 2.1% from the record-setting quarter last year. To support demand in China, Tesla is offering promotions through October, with selected Model Y versions qualifying for a 7,000-yuan reduction on final payments and every Model 3 variant receiving 5,000 yuan off. The gains come amid intensifying competition in China, where Tesla's retail sales fell 12.4% year-over-year in August to 50,047 units, its weakest August since 2022, leaving it ranked fifth behind market leader BYD with 233,943 units.

Dell Technologies has extended one of the most notable large-cap tech rallies, closing at $578.96 on October 7 and rising almost 360% in 2026, far outpacing the broader S&P 500. The company delivered a record-breaking second quarter for fiscal 2027, with topline revenue jumping 58% year-over-year to $47 billion as AI-optimized server revenue doubled to $16.4 billion. Over the trailing twelve months Dell has generated $151.2 billion in cumulative revenue, though its roughly 9.4% operating margin and 7.52% net margin remain well below typical software or chip peers. In September the company's investment-grade bond sale was massively oversubscribed, upsized from an initial $4 billion target to $5 billion amid strong demand tied to its AI server business. Institutional sentiment remains strong, with 77 hedge funds holding positions at the end of Q2 2026 versus 72 in Q1 2026, and BlackRock the largest stakeholder at 24.09 million shares as of June 30. The stock trades at a trailing price-to-earnings multiple of 31.99x, dropping to 21.32x on forward earnings, leaving less room for disappointment after the big run.

Duke Energy declared quarterly cash dividends of US$1.085 per common share and US$359.375 per Series A preferred share, payable on December 16, 2026, to shareholders of record on November 13, 2026. The utility also reached agreements with Amazon, Google, Meta and Microsoft to broaden financial safeguards for North Carolina data centers, tying directly into its multi gigawatt data center pipeline. If regulators approve the framework, it would sit alongside existing electric service agreements as part of the story investors are watching around large load growth, capital spending and how much external funding Duke must raise to build out the grid and new generation. Duke's narrative projects $38.3 billion in revenue and $6.5 billion in earnings by 2029, requiring 5.3% yearly revenue growth and about a $1.3 billion earnings increase from $5.2 billion today. The company's rising capital needs could still collide with a period of persistently higher borrowing costs.

ON Semiconductor and Synaptics have renegotiated the terms of their merger, cutting the announced aggregate value to approximately $5.7 billion, or $123 per Synaptics share in cash, from approximately $7 billion under the original agreement. Jim Cramer said on the October 6 episode of Mad Money that the amended price was the main reason his view of ON Semiconductor changed, arguing the company is now getting the same assets at a much more reasonable price. Management expects immediate accretion to adjusted EPS after closing, plus opportunities beyond the previously announced $200 million in annual run-rate synergies, with completion still expected by mid-2027 subject to shareholder and remaining regulatory approvals. ON Semiconductor plans to fund the deal with cash and borrowing, including a commitment for up to $2.45 billion in senior secured term financing. In its August earnings release, management projected AI data center revenue would more than double in 2026, while second-quarter revenue rose 9% to approximately $1.60 billion, with adjusted diluted EPS of $0.74 and free cash flow of $425.4 million; at its September investor event the company outlined a $213 billion addressable market by 2030, an estimate of market opportunity rather than a revenue target. Hedge fund ownership rose to 86 funds holding the stock in the second quarter from 58 in the first, with Jericho Capital Asset Management initiating a position of 4.88 million shares and Citadel Investment Group increasing its holdings by 1672% to 1.93 million shares, while short interest stands at 10.43% of float.

Jim Cramer used the October 6 episode of Mad Money to argue that CVS Health Corporation has become too cheap to ignore after its stock plunged from $110 to $86, even as the company's earnings outlook improved. CVS reported second-quarter revenue of $106.1 billion, up 7.3% year over year, with adjusted EPS rising to $2.58 from $1.81 and GAAP diluted EPS climbing to $2.31 from $0.80, while the insurance business's medical benefit ratio improved to 87.4% from 89.9%. The company raised its full-year adjusted EPS guidance to $7.90 to $8.10 and its operating cash flow outlook to at least $11.5 billion, and management placed a reasonable floor under 2027 adjusted EPS at $8.44. Cramer said a possible 5% hit to next year's earnings should not send a stock down 22%, knocking nearly $30 billion off the company's market cap, especially not when CVS remains very strong. The uncertainty centers on Caremark, where the Centers for Medicare & Medicaid Services' July proposal would pay average sales price minus 33.4% for drugs acquired through the 340B program, and where the FTC's July settlement would separate manufacturer fees from drug list prices and add transparency and options to move away from rebate guarantees and spread pricing. CVS also said Caremark membership would decline in 2027 as contracts change and some insurance clients withdraw from markets. Using the October 7 closing price of $87.95 and the $8 midpoint of CVS's 2026 adjusted EPS guidance, the stock trades at approximately 11x this year's projected adjusted earnings, versus approximately 9.1x for Cigna based on its $278.51 closing price and its 2026 adjusted earnings guidance floor of $30.45. According to Insider Monkey's data, 88 hedge funds held CVS Health in the second quarter, compared with 84 in the first quarter, with Pzena Investment Management the most prominent shareholder at around 11.77 million shares and GQG Partners increasing its holdings by 25137% to 7.955 million shares, while short interest stood at 1.27% of the public float.

Regal Rexnord reported strong Q2 2026 results with orders and sales growing year over year, driven by demand in data center, commercial HVAC, and discrete automation markets. The company kept its full-year 2026 sales growth outlook at 4.5% and its adjusted EPS midpoint at US$10.60, despite softness in residential HVAC and pool. Management pointed to tariff refunds, ongoing integration progress, and service-level improvements as key levers for sustaining margins and capturing future opportunities in robotics and data centers. The company's narrative projects $7.7 billion in revenue and $653.9 million in earnings by 2029, requiring 8.4% yearly revenue growth and an earnings increase of about $329.9 million from $324.0 million today. Before the Q2 report, the most pessimistic analysts had assumed revenue of about US$7.7 billion and earnings of roughly US$654 million by 2029, worrying that heavy reliance on large e Pod data center projects could squeeze margins if schedules slip.

GE Vernova reports that AI data center related orders exceeded US$5b in the first half of 2026, a figure management says is already more than double the data center order total recorded for all of 2025. The US based electrical group supplies equipment and services to generate, move, coordinate, convert, and store power across the US, Europe, Asia, the Middle East, and Africa, positioning it directly in the path of rising data center electricity needs. Industry analysts suggest power equipment suppliers such as GE Vernova may benefit from AI demand regardless of which developers lead the field. The company's broader story extends beyond this single development, and the projects carry exposure to large, lumpy infrastructure contracts and the possibility of delays, deferrals, or weaker pricing if customer budgets tighten. The clearest way to judge whether this read holds is to watch GE Vernova's disclosed data center backlog conversion and margins across 2027, especially how much of these AI related orders translate into on time revenue and service contracts without a visible rise in project cancellations or profit shortfalls.

Consumer artificial intelligence agents could reshape online shopping, payments and financial services, but their success will depend on how established companies respond, according to Bernstein. The rapid growth of Muse, which can compare products and quotes, call businesses, send emails, fill forms, manage inboxes, cancel subscriptions and negotiate for users, has fuelled speculation about an "iPhone moment" for consumer AI, with OpenAI launching Dots and Google expected to improve Spark. Amazon blocked Muse within two weeks of launch, citing lack of prior notification, failure to identify itself, apparent collection of customer credentials and access to account pages and order histories, while others including Shopify, Walmart, Best Buy, Gap, Sephora, Wayfair, Dick's Sporting Goods, Ulta Beauty, Fanatics, Expedia and Instacart have partnered with Muse for shopping and checkout. Bernstein expects selective access rather than blanket blocking, and Muse is developing API connectors with retailers, although it currently mainly browses websites, fills forms and prepares orders for user confirmation. Cloudflare says AI-agent requests on its network rose over 1,700% in a year, while human traffic in heavily crawled retail and financial-services categories fell as much as 40%, and Bernstein sees payments as a potential winner, with more online transactions potentially benefiting Visa, Mastercard and processors Stripe, Adyen and Checkout.

AI agents are moving from experimental pilots into procurement, accounting, and finance, where they are redesigning work through role consolidation, hiring freezes, and the quiet absorption of junior positions. Workday has launched a suite of AI agents for finance, including an Accounting Agent that continuously reconciles accounts, tests controls, and catches variances, and a Procurement Agent that reviews every transaction against contract terms and SLAs. SAP has introduced Joule agents for procurement through Ariba and Fieldglass, plus an Expense Automation Agent the company says cuts report completion time by up to 30% and a Project Billing Price Verification Agent that reduces time spent resolving price discrepancies by 75%. On Oct. 7, Automation Anywhere announced the acquisition of Boost.ai, extending its Autonomous Enterprise vision, the idea that business functions can run up to 80% autonomously, into conversational and voice AI for back-office workflows. BCG's Henderson Institute reported in January 2026 that 50% to 55% of US jobs will be reshaped in the next two to three years, with 10% to 15% eliminated within five, and data from JobZone Risk in October 2026 shows that of 21 million US workers in finance and accounting, only 3% sit in what the firm calls a structurally safe zone. Ninety percent of Chief Procurement Officers are already exploring or using AI agents, according to Icertis and ProcureCon research, and 64% expect AI to transform their roles within five years, per the Hackett Group.

HSBC upgraded Synopsys to Buy from Hold on September 25 and raised its price target from $490 to $700, implying a multiple of nearly 35 times HSBC's fiscal 2027 EPS estimates. Analyst Frank Lee said the company is evolving beyond its traditional slow-growth software profile as its licensing-plus-royalty model and agentic AI tools create a new path to benefit from AI. The upgrade follows Synopsys' fiscal third-quarter results, when revenue rose 42% to $2.48 billion, including approximately $711 million from Ansys, alongside higher full-year guidance. Synopsys announced a multiyear agreement worth more than $1 billion with Amazon on September 30, combining IP licensing with production-linked royalties, though the company has said revenue synergies from Ansys will not begin until fiscal 2027. The stock trades at approximately 61 times the midpoint of management's fiscal 2027 GAAP EPS guidance, or roughly 28 times adjusted earnings, and carries about $7 billion more debt than cash, largely tied to the Ansys deal.

Chipotle Mexican Grill has reportedly drawn early takeover interest from Starbucks, according to market reports. The reported talks center on a potential acquisition that would combine two of the largest listed food and beverage brands in the United States. As of October 9, 2026, neither Starbucks nor Chipotle has issued a public statement confirming or denying any deal discussions. Chipotle Mexican Grill runs a large chain of US fast-casual restaurants focused on burritos, bowls, and related Mexican-inspired meals, and its reported role in potential takeover discussions highlights how a US$41.4b hospitality operator might fit alongside a global coffee-focused group in a combined consumer platform. The clearest indicator for investors will be the next official comment from either Starbucks or Chipotle, whether in upcoming fourth quarter results commentary or a formal M&A announcement, which will clarify whether these discussions are active, paused or off the table.

Alphabet Inc. has launched a prototype Tensor Processing Unit satellite aboard SpaceX's Transporter-18 mission on October 1, 2026, in partnership with Planet, marking its first concrete step toward putting data centers in orbit. The test, part of Google's Project Suncatcher, will examine how its TPUs handle launch stress, radiation, and extreme temperatures in low Earth orbit, with ground testing already showing Trillium TPUs can withstand radiation levels higher than those expected across a five-year mission. Heat management remains a key challenge because conventional air cooling does not work in a vacuum, prompting Google to evaluate heat pipes and radiators, and a two-satellite test is planned for 2027. Google emphasized the current mission is intended to collect engineering data rather than demonstrate a commercial system. SpaceX could benefit from additional orbital AI experiments if hyperscalers continue choosing its launch services, even as its valuation of over $2 trillion at about 45 times forward sales rests on management's own targets, including Elon Musk's expectation of a $100 billion annual revenue run rate by December and a $1 trillion revenue target moved up to 2030.

BlackBerry's analyst price targets have diverged, with one firm raising its fair value estimate from CA$11.96 to CA$12.71 while another cut its target to US$9.50 from US$10.30. Canaccord pointed to QNX as the main pillar of the BlackBerry story, highlighting record Q2 revenue of $80.3M and an 87% gross margin in that segment, and noted that BlackBerry lifted its FY27 QNX revenue guidance to $320M and secured a first Alloy Kore design win that adds more than $100M to the royalty backlog. Despite that strength, Canaccord cut its price target to US$9.50 from US$10.30 and kept a Hold rating, citing continued weakness in Secure Communications. RBC Capital maintained a Sector Perform rating and a US$9 price target, expecting a healthy Q2 update with revenue, EBITDA, and EPS possibly slightly exceeding its own and street estimates, but flagging that sentiment could be sensitive to commentary on the timing of Alloy Kore design wins and progress in physical AI and GEM. The fair value revision also lifted the revenue growth assumption from 9.41% to 9.55%, raised the net profit margin from 18.39% to 21.15%, lowered the future P/E from 43.53x to 37.86x, and edged the discount rate down from 7.83% to 7.81%.

Prodigy Clean Energy, together with Pabineau First Nation and Eel River Bar First Nation, selected BWX Technologies' BANR microreactor technology for an Indigenous-owned, transportable nuclear power plant in Belledune, New Brunswick, targeting in-service operation in the early 2030s with modular, factory-built units. The project is backed by a Government of New Brunswick power offtake letter and advances BWXT's push into transportable microreactors that could underpin future deployments across remote Canadian regions and export markets. The selection gives BWXT another reference project for its microreactor catalyst, though it does not materially reduce risks around contract concentration, commercial margin pressure, or execution on its expanding capital program. Among other recent announcements, BWXT received a US$4 million preliminary design award from the NNSA for a new Lithium Processing Facility at Y 12, which together with the Belledune project feeds the same nuclear-focused backlog story. The company's narrative projects $4.8 billion revenue and $539.9 million earnings by 2029, requiring 10.7% yearly revenue growth and a $184.7 million earnings increase from $355.2 million today, while the most pessimistic analysts model revenue of about US$4.5 billion and earnings of roughly US$519 million by 2029.

Evercore ISI upgraded Procter & Gamble to Outperform from In Line and raised its price target to $166 from $161, citing improving U.S. execution, stabilizing category volumes, and signs the company's new organization is beginning to deliver. Analyst Robert Ottenstein lifted his fiscal first-quarter organic sales growth estimate to about 3% versus a consensus of 2%, saying the quarter could mark the end of downside risk to P&G's sales, and expects the company to exit fiscal 2027 growing about 4%. Goldman Sachs upgraded Palantir to Buy from Neutral on recent underperformance, with analyst Gabriela Borges saying the stock is setting up for another phase of outperformance into 2027, and set a $230 price target. BNP Paribas downgraded GlobalFoundries to Neutral from Outperform, with analyst Karl Ackerman cutting his price target to $51 from $80 and saying growth drivers are priced in. FBN Securities downgraded SentinelOne to Sector Perform from Outperform on concerns about CrowdStrike encroaching on its business, while BNP Paribas raised its NVIDIA price target to $345 from $285 and its Intel price target to $125 from $75, and Citi lifted its AMD price target to $800 from $575, saying it now sees the CPU market hitting $300 billion by 2030.

Cirrus Logic offered to acquire Synaptics in September as the chipmaker sought to fend off a competing bid from ON Semiconductor, Bloomberg reported, citing people familiar with the matter. The report follows onsemi's agreement last week to acquire Synaptics for $123 per share in an all-cash deal worth roughly $5.7B, a revision of its previous all-stock bid worth about $7B disclosed in June. Onsemi changed the deal terms after receiving an unsolicited competing proposal from a third party, according to a statement that did not name the bidder. Austin-based Cirrus Logic is the Party A mentioned in an updated proxy filing from Synaptics on Thursday, the people said, and the filing indicated Synaptics board members seriously evaluated Cirrus Logic's cash and stock bid and held discussions with the company before settling on Onsemi's revised offer. It is unclear whether Cirrus Logic continues to have buyout interest in Synaptics, the people added, while representatives for Cirrus Logic and Onsemi declined to comment and Synaptics did not immediately respond to a request for comment.