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Thursday 22 October 2026 Top stories today: - Meta Q3 revenue +26% YoY to $64.6B, net income +264% - Anthropic unveils proactive Claude Duet agent to rival OpenAI’s Dots - Tesla Q3 revenue flat YoY at $28.0B, auto revenue -3% to $20.6B - DeepSeek raises ~$15B to challenge top U.S. AI labs - Flapping Airplanes, year-old AI startup, raises $1B at $6B valuation 0. Data & Calendar All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT). All times are ET. Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations) 1. Meta Q3 revenue +26% YoY to $64.6B, vs. $63.3B est., net income +264% - Free cash flow turned negative at -$2.12B, vs. +$784M in Q2. - -37% YoY in Q3 operating income to $12.99B, reflecting a $9.89B AG settlement charge. - Meta projects Q4 revenue of $73B-$76B, vs. $73.73B est. - FY2026 capex is expected at $135B-$145B, vs. the prior $130B-$145B forecast. Family daily active people +3% YoY to 3.64B, below 3.65B est. - Muse attracted 10M+ users since launch, with 25%+ making purchases through the app at an average purchase value of $200+. - Jan. 2027: Meta plans to create a new class of nonvoting stock to raise capital for AI development. Reality Labs reported a $4.13B loss on $513M in revenue, bringing cumulative losses above $92B - Separately, New Mexico court ordered Meta to pay $25B in penalties over Cambridge Analytica data deception. - Meta also restructured its stock to shield Mark Zuckerberg from California’s proposed wealth tax, SEC filings showed. - Coresignal Monitors keeps your lead lists current. Turn any AI Data Search prompt into a standing monitor without touching the API. - Every week or sooner, we report new matching companies or employees, those that no longer match, and updated data records, by email or to your own webhook URL. - Pay for change, not repetition. Monitoring is free. Credits go only to the changed records you collect. *Sponsored. 3. Anthropic unveils proactive Claude Duet agent app to rival OpenAI’s Dots - Available in research preview for U.S. Pro and Max users. - iOS, Android, and the web availability. Granola is now HIPAA compliant, so teams handling sensitive information can use it with confidence. Stay focused on the person in front of you while Granola transcribes the call and turns your notes into next steps. Download Granola and try it in your next meeting. 1 month off any paid plan with code BAYAREATIMES. *Sponsored. 5. Tesla Q3 revenue flat YoY at $28.0B, auto revenue -3% to $20.6B - -16% YoY in Q3 energy revenue to $2.9B. - Active FSD subscriptions +67% YoY to 1.7M. Tesla’s 2026 capex is projected at ~$20B, vs. $25B+ forecast earlier - Separately, insiders were reportedly rattled by Elon Musk’s public backing of a SpaceX-Tesla merger, fearing shareholder scrutiny and delays. Access to frontier AI models is becoming table stakes. What sets leading teams apart is the data, architecture, and governance they build underneath. We brought together insights from closed-door sessions with leaders at Brex, Databricks, and Plaid into one whitepaper. From real-time context and agent design to AI governance, see what leading teams are doing to make AI work in production. Read to find out: - How real-time behavioral data gives AI an edge - Why one agent for everything rarely survives production - How AI governance helped one team ship 12X more projects *Sponsored. 7. DeepSeek said to have raised ~$15B in landmark China funding round to challenge top U.S. AI labs - CATL and Tencent are among the biggest investors.
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