Techmeme
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Sources: Thinking Machines Lab is raising $5B led by Accel at a $40B pre-money valuation, more than tripling its valuation from its last public round last year (Business Insider)
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Artificial Analysis says Inkling 2 Small matches Gemini 3.8 Flash (high) in its index and would be the top open model outside China once its weights are out (Artificial Analysis)
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Lyft reports Q3 revenue up 8% YoY to $1.82B, vs. $1.92B est., and a net loss of $0.03 a share, vs. an est. profit of $0.20 a share; LYFT drops 8%+ after hours (Kelly Cloonan/Wall Street Journal)
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Meta indefinitely pauses its new commercial terms, which critics say would let it scrape sites of business users, after publisher outcry and court injunctions (Nieman Lab)
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Sources: cloud security startup Cyera is planning to raise around $800M in a round led by Cyberstarts at a $20B valuation, up from $12B in June (Aaron Holmes/The Information)
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Thinking Machines Lab debuts Inkling 2 Small, a MoE model with 594B total and 17B active parameters, and plans to release weights next week after safety testing (Thinking Machines Lab)
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Sources: major investors are increasingly skeptical Anthropic's IPO can achieve a $1.5T valuation after a market selloff; one says it could be closer to $1T (Wall Street Journal)
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Sources: Unity has held talks to be acquired by a consortium including Silver Lake, which owns 8% of Unity, and Saudi Arabia's PIF, discussing a ~$25B valuation (Reuters)
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Sources: NYT has entered exclusive negotiations to acquire Letterboxd for roughly $330M; A24 dropped out of negotiations after price expectations rose (New York Times)
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Cloudflare reports Q3 revenue up 39% YoY to $782.5M, above $737.2M est., a $34.1M net loss, and lifts its FY 2026 guidance; NET jumps 14%+ after hours (Elias Schisgall/Wall Street Journal)
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Airbnb reports Q3 revenue up 19% YoY to $4.9B, above est., Nights and Seats Booked up 16% to 155M, rises its FY 2026 revenue outlook; ABNB jumps 9%+ after hours (Bloomberg)
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The Nasdaq 100 drops 6%, losing a record $2.3T in value, and the Philadelphia chip index plunges 12%, on concerns over the AI trade after Democrats won Congress (Natalia Kniazhevich/Bloomberg)
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GOP leaders of three House committees ask Jensen Huang for a closed-door briefing on his ties with Megaspeed executive Alice Huang, reportedly a Chinese asset (Kevin Breuninger/CNBC)
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California State Senator Scott Wiener, an author of AI safety law SB 53, won Tuesday's election to succeed Pelosi in the US House, campaigning on AI regulation (Rocket Drew/The Information)
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METR: Anthropic redacted much of the "most informative" evidence from METR's 100-page report, so readers "must rely on our judgment more than we consider ideal" (@metr_evals)