Barclays lifts Tesla’s price target from $370 to $450 and upgrades its rating to Overweight.

TSMC plans to shrink the area of high-density 6T SRAM (Static Random-Access Memory) bit cells to below 0.017 square micrometers in its A14 process, which is targeted for mass production in 2028. The move breaks a long-standing stagnation of around 0.021 square micrometers for SRAM cell size since the N5 process launched in 2020. According to reports, TSMC is expected to unveil the relevant research results by the end of the year. Based on currently disclosed data, the A14 process’s SRAM cell area is expected to outpace Intel’s 18A process; Intel previously announced its high-density SRAM cell size is 0.021 square micrometers. As Samsung has not yet disclosed the specific SRAM cell dimensions of its latest process, a direct comparison is currently not possible. SRAM is a critical storage component for on-chip caches in CPUs, GPUs, and AI accelerator chips. Shrinking the cell area allows more cache to be packed into the same chip area, helping alleviate data access bottlenecks in AI chips and improve performance and energy efficiency. TSMC noted that the A14 process targets a 10-15% performance gain, 25-30% power reduction, and roughly 20% higher chip density compared to its N2 process. The A14 process is currently progressing toward its 2028 mass production goal, but its final yield, cost, and customer adoption remain unconfirmed.

SK Hynix plans to add an additional 50 trillion to 60 trillion won (approximately $350 billion to $420 billion) in shareholder returns. Combined with the 40 trillion won in share repurchases and cancellations already completed, the company’s total shareholder returns this year are expected to reach 90 trillion to 100 trillion won, a new all-time high for the firm. SK Hynix will finalize the plan via a board of directors resolution on October 28, and announce it alongside its third-quarter financial results. The company is considering returning value to shareholders through measures including special dividends and additional share repurchases. Brokerage firms estimate SK Hynix’s free cash flow this year will be around 200 trillion won. The company’s existing policy allocates more than 50% of its free cash flow to share repurchases, cancellations, and dividends. Driven by sustained growth in AI storage demand, SK Hynix’s profitability is steadily improving. If the plan is implemented, its annual shareholder return scale will be roughly 7 times that of last year, potentially putting it in competition with Samsung Electronics for the title of South Korea’s largest annual shareholder return among domestic companies. Samsung Electronics previously announced plans to deliver 90 trillion to 110 trillion won in shareholder returns this year.

According to Bloomberg, the plunge in shares of AI cloud computing firms is spilling over into tech stocks and the broader U.S. equity market. Since U.S. major indexes hit record highs on Oct. 6, CoreWeave’s stock has fallen 41%, while Iren and Nebius have dropped 40% and 36% respectively. Market concerns center on AI infrastructure firms’ heavy reliance on debt financing, with many expected to borrow more after reporting earnings. As U.S. Treasury yields rise and inflation persists, financing costs for these companies have climbed, while credit risk metrics for AI investments at some large tech firms have also hit new highs. Ohsung Kwon, chief equity strategist at Wells Fargo, warns that if cloud computing firms cut capital expenditure due to financing strains, the semiconductor industry will face a major hit. The Philadelphia Semiconductor Index has fallen 15% so far in October. Brian Reynolds, chief market strategist at Reynolds Strategy, says the sell-off has evolved from individual corporate events to macro risks, and forecasts the S&P 500 could retrace to its early-June lows, marking an additional ~4.7% drop from last Friday’s close. Meanwhile, concerns over an AI bubble and high-risk debt defaults continue to mount.

Mizuho Securities maintains an "Underperform" rating on Circle (CRCL), setting a target price of $43, roughly 48.1% lower than its current share price of $82.87. The brokerage warns that AI assistants may guide users toward higher-yield, insured alternative products, weakening USDC’s competitiveness. It projects this could exert $4 billion to $9 billion in downward pressure on USDC’s market capitalization, and cause Circle’s reserve revenue to decline by 10% to 20%. The firm also cuts Circle’s 2027 EBITDA forecast by around 5%.

Beating AI Express News (Insight) – According to Fox Business, citing sources, Anthropic is expected to file its S-1 registration document at 21:00 Beijing time (9:00 a.m. Eastern Time).

Meta Platforms (META.O) plans two concurrent underwritten public offerings to raise a total of approximately $35 billion, including about $22.5 billion in Class A common stock and $12.5 billion in Series A mandatory convertible preferred stock. According to reports, Meta's common stock offering will be conducted via forward sale agreements, while the preferred stock offering involves depositary shares representing the Series A mandatory convertible preferred stock. Relevant information shows Meta intends to issue up to 250 million Series A depositary shares. Additionally, NVIDIA, AMD, and Broadcom are each interested in purchasing up to $5 billion in Meta's stock. Meta's pre-market shares turned positive, up 1.12%.