SpaceX agrees to buy airwaves to run its own phone network, and AT&T, Verizon and T-Mobile shares fall 5% to 8% after hours

The rest of the day

41 more stories on this beat.

Each with its own sources. None of these is a link to the story above.

1. 02

   US freezes green cards at Microsoft and IT firms

   The Trump administration on Thursday stopped accepting or processing green-card paperwork from eight companies: Microsoft, Adobe, Infosys, Tata Consultancy Services, Wipro, HCL, Cognizant and Capgemini. [11][12][16] A green card lets a foreign worker stay in the US for good, and most job-based ones first need a Labor Department certificate called PERM. [11][14] Labor Secretary Keith Sonderling said his department had found $22 billion in visa fraud, without giving details. [13] Mint, an Indian newspaper, found that Indian IT firms accounted for under 1,400 of the 117,849 such requests filed in the year to September 2025, less than 2%. [14]

   Why it matters — The freeze lands first on foreign workers already waiting for green cards at Microsoft, which files more of these requests than any other company. [11] Microsoft denied abusing the system, and Nasscom, India's tech industry body, played the change down. [15]

2. 03

   Oil jumps to $104 on tanker attacks and a storm

   Brent crude, the world's main oil price, rose 4% on Thursday to close at $104.28 a barrel. [18] Nine tankers have been attacked in and around the Strait of Hormuz, the narrow sea route out of the Gulf, in a week. [18] Oil companies also shut about 500,000 barrels a day, a quarter of US offshore output in the Gulf of Mexico, as Hurricane Isaias approached. [18] Prices came off their highs after President Trump said the US would not attack Iran before the November elections. [18] In Asia on Friday, Brent slipped 0.8% to $103.48. [10]

   Why it matters — Dearer oil was blamed the same day for pushing up what Britain's government pays to borrow. [19] Traders on Kalshi, a betting site for events, put an 87% chance on US petrol still costing over $4 a gallon on election day. [20]

3. 04

   Britain's borrowing costs hit a 19-year high

   Britain's government now pays 5.515% a year to borrow for ten years, the most since July 2007. [19][23] Its 30-year rate touched 6.036% on Wednesday, the highest since January 1998. [19] Andrew Bailey, who runs the Bank of England, told finance minister John Healey his plans 'must be credible' to investors. [23] Healey presents his budget on 28 October. [23] Economists think higher borrowing costs have used up about half of the GBP 24 billion of spare room left under the British government's own borrowing rules in March. [23]

   Why it matters — Healey is expected to raise taxes to rebuild that room, and higher government rates also push up rates for homeowners and businesses. [23] The selling is mostly driven from abroad, as investors everywhere fear dear oil will keep prices rising. [23]

4. 05

   US long-term bonds find buyers again

   The US Treasury sold $22 billion of 30-year bonds on Thursday, and buyers bid for 2.54 times the amount on offer, above the average of the last five sales. [24][25] A group of buyers that includes central banks took 72.3%, more than usual. [25] The 30-year rate fell back to about 5.61%, from a 24-year high above 5.73% earlier in the day. [24] A day earlier, strong demand for 10-year bonds had some options traders betting the long fall in bond prices was ending. [26]

   Why it matters — These rates help set US mortgage rates and the cost of the US government's $40 trillion debt. [24] Christopher Waller, a governor of the US central bank, said more rate rises are still needed, but not at every meeting. [25] David Zervos, an adviser to Treasury Secretary Scott Bessent, said rates were 'really, really high' and could come down. [27]

5. 06

   AI shares drop after OpenAI's revenue news

   OpenAI, the maker of ChatGPT, told investors its yearly revenue rate was about $50 billion at the end of September, not the $68 billion widely reported last month. [28] A person familiar with it said the larger number included money taken in by OpenAI's partners. [28] On Thursday CoreWeave, which rents out AI computers, fell 7% to 8%, and Oracle 5% to 6%. [10][28] Nvidia, whose chips run most AI, lost about 3%. [28] The Nasdaq, an index full of tech companies, fell more than 1%, its worst day since mid-August. [10]

   Why it matters — OpenAI is under pressure to justify its $852 billion value before a share sale expected in 2027. [28] Kristina Hooper of Man Group, an investment firm, warned that a few more days like this could turn into 'a real rout'. [10]

6. 07

   India's rupee near a record low as money leaves

   India's rupee ended Thursday at 96.78 to the US dollar, close to its all-time low of 96.96 set in May. [29] It has lost over 7% this year. [29] Foreign investors have taken a record $30 billion out of Indian shares this year. [30] India's central bank raised its main rate on Wednesday for the first time in nearly four years, but investors told Reuters the 0.25-point rise will not stop the outflow. [30] The cost for foreign funds of insuring against a weaker rupee rose to 8.65% a year, from 7.40% a month ago. [31]

   Why it matters — Reuters describes a loop: a weaker rupee pushes up prices in India, and higher prices weaken the rupee further. [30] Higher insurance costs cut what foreign funds earn on Indian bonds, which can keep more of them away. [31]

7. 08

   TCS profit rises 15%

   Tata Consultancy Services, India's biggest IT services company, said profit rose 15% from a year earlier to Rs 13,884 crore in July to September. [17] Revenue rose 11.2% to Rs 73,188 crore. [17] It said its yearly revenue from AI work had reached $3.1 billion, over a tenth of the total. [17] Its staff grew to 598,056 people. [17] The results came out on the day of the US green-card freeze, and US-traded shares of Infosys and Wipro fell nearly 3%. [17]

   Why it matters — Indian IT firms earn much of their money from Western clients, so worries about US tech spending, AI and visa rules all weighed on their shares. [17]

8. 09

   US hits 17 more tankers carrying Iran's oil

   The US Treasury put sanctions on 17 more tankers on Thursday that it says carry oil for Iran's 'shadow fleet', ships Iran uses to sell oil around sanctions. [21] The ships, registered in more than a dozen countries, carried millions of barrels to buyers in South and East Asia, Treasury said. [21][22] It also sanctioned the companies that own them. [22] Treasury said the step 'effectively neutralizes' most of what is left of the fleet. [22]

   Why it matters — Treasury Secretary Scott Bessent said the aim is to cut the oil money Iran uses to fight the war. [21] CNBC notes that this step alone is not expected to change much in Iran's economy. [21]

9. 10

   WTO doubles its trade growth forecast

   The World Trade Organization, which writes the rules for trade between countries, now expects the amount of goods traded worldwide to grow 3.9% this year. [32][33] In March it forecast 1.9%. [32] It says spending on AI chips and equipment more than made up for the war in the Middle East and US tariffs. [33] Even so, Middle East crude exports fell 24% in the first half of the year, and gas shipments 47%. [33] It expects 4.1% growth in 2027. [32]

   1.9%Forecast in March

   vsvs

   3.9%Forecast now

   Why it matters — Asia, where most AI hardware is made, gains most: its exports are forecast to grow 9.9% this year. [32] Producers of fuel and fertiliser outside the Gulf also gained by replacing lost supplies. [33]

10. 11

    Karachi becomes a stop for European ships

    MSC, one of the world's biggest container shipping lines, has restored a weekly direct service from Karachi to Rotterdam, Hamburg, Felixstowe and other European ports. [35] Pakistan's maritime minister said the country has become the region's transshipment hub, where cargo switches between ships. [35] The WTO said Pakistan's sales of sea freight services rose 73% in the first half of the year, as ships avoided the war zone. [34] Textile exporters had complained that longer, dearer trips were making their goods harder to sell abroad. [35]

    Why it matters — Pakistani exporters get a direct weekly route to Europe again. [35] The minister warned that the wider problems on world shipping routes are not over. [35]

11. 12

    Pakistan raises its petrol price again

    Pakistan's government raised petrol by Rs2.31 a litre to Rs398.96 from Friday, and diesel by Rs0.78 to Rs395.72. [36] Petrol cost about Rs266 a litre before the US-Iran war began in late February, and peaked at Rs458.41 in April. [36] Pakistan's government still takes Rs114 a litre in taxes and duties on petrol. [36] It has also brought back savings rules: markets must close by 9pm, and official cars get less fuel. [36]

    Rs266Before the war

    ↓→

    Rs458April peak

    ↓→

    Rs399From Friday

    Why it matters — Petrol in Pakistan still costs about half again what it did before the war. [36] The 9pm closing rule also cuts shops' trading hours. [36]

12. 13

    TSMC's revenue jumps 50%

    TSMC, the Taiwanese company that makes most of the world's advanced chips, reported record revenue of T$1.49 trillion ($46.7 billion) for July to September. [37] That is 50% more than a year earlier, and above the T$1.46 trillion analysts expected. [37] September alone was up 54.6%. [37] TSMC makes chips for Nvidia and Apple. [37]

    Why it matters — The record came on the same day AI shares fell over OpenAI's revenue, so orders for AI chips are still rising even as investors question what AI earns. [37][28]

13. 14

    Firmus calls off Australia's biggest float in decades

    Firmus, an Australian company that builds data centres for AI and is backed by Nvidia, withdrew its plan to sell shares on the stock market. [38][39] It had hoped to raise about $5 billion at A$11 a share, valuing it near $30.6 billion, almost triple its value in August. [38] It would have been the biggest listing in Australia since Telstra in 1997. [39] The Guardian reports its bankers had badly overestimated demand, for a company running two small sites. [39] Firmus said the offer price did not reflect its business, and it will raise money privately. [38]

    Why it matters — Firmus's backers, including Nvidia, Blackstone and Jane Street, must wait longer to sell, and its plans for AI data centres across Asia now depend on private money. [39][38]

14. 15

    PepsiCo cuts its profit outlook

    PepsiCo, which makes Pepsi, Lay's and Doritos, now expects profit per share to grow 2.5% to 3.5% this year, down from about 5% before. [41] Sales volumes of its North American soft drinks fell 2% in July to September. [40] Chief executive Ramon Laguarta said 'we do not feel good about the beverage business'. [40] Sales outside North America grew, and make up 41% of its revenue. [41] It plans to raise chip and soda prices later this year, after cutting some by up to 15%. [40]

    Why it matters — Laguarta said shoppers are 'clearly challenged' and he does not expect that to change for 12 to 18 months. [40] US consumer confidence recently fell below its level in the pandemic. [40]

15. 16

    Tesco raises its profit outlook

    Tesco, Britain's biggest supermarket chain, raised its profit outlook on Thursday. [42][43] Sales rose 2% to GBP 33.8 billion in the 26 weeks to 29 August, and underlying profit rose 6.5% to GBP 1.8 billion. [42] Online sales grew 8%, and its premium Finest range 9%. [42] Chief executive Ken Murphy said British shoppers had been 'pretty resilient' and want to enjoy Christmas. [42] Tesco has locked in its energy costs into next year. [42]

    Why it matters — British households are still spending on food and treats despite the war's effect on fuel, on the same day PepsiCo said American soda drinkers are cutting back. [42][40]

16. 17

    Tariffs raised prices on everyday goods, NY Fed finds

    Researchers at the New York branch of the US central bank found that tariffs added 2.9 percentage points to inflation on 67 kinds of goods by February. [44] Without the tariffs, prices of those goods would have fallen by almost 1%, they said. [44] The tariffs were imposed in 2025 and early 2026. [44] The Trump administration has said foreign sellers bear the cost of the tariffs. [44]

    Why it matters — The study finds the cost reached US shoppers in the prices of everyday goods. [44] CNBC calls it the clearest evidence yet of what the tariffs did to household spending. [44]

17. 18

    Germany doubles its growth forecast

    Germany's government more than doubled its forecast for economic growth this year, saying the economy withstood the energy shock from the Iran war. [45] It expects exports to rise 3.7% this year, after falling 0.9% in 2025. [45] Economy minister Katherina Reiche said buyers abroad stocked up on German steel, fertiliser and aluminium, and data-centre builders ordered German lasers and cooling systems. [45] Separate figures the same day showed German exports falling further. [46]

    Why it matters — Households will feel little of it: Germany's economy ministry expects their spending to grow just 0.3% this year after inflation. [45] Prices rose 3.3% in September, the most in nearly three years. [45]

18. 19

    The euro heads for a fifth weekly fall

    The euro was on course on Friday for its fifth weekly fall against the US dollar, down more than 3% over the five weeks. [47] It hit a 17-month low of $1.1161 on Monday on worries about France's record debts, and has since recovered to $1.1211. [47] France's biggest business group says political doubt is holding back investment, and shoppers are putting off purchases. [48] Far-left and far-right parties want the European Central Bank to buy up or cancel French debt. [48]

    Why it matters — Investors took Marine Le Pen's plan this week to cut France's deficit as reassuring, because her hard-left rival Jean-Luc Melenchon has asked the European Central Bank to cancel France's debts. [47]

19. 20

    EU countries expect a smaller budget

    EU governments expect the proposal for the bloc's next seven-year budget, for 2028 to 2034, to be cut by EUR 100 billion to 200 billion from the plan of June, 12 diplomats told Politico. [49] The plan on the table is close to EUR 2 trillion. [49] Ireland, which chairs the talks, publishes its proposal on Saturday. [49] Germany, Austria and the Netherlands want deeper cuts, while southern and eastern countries oppose them. [49]

    Why it matters — Farm and regional aid is expected to be protected, so cuts would fall elsewhere in EU spending. [49] Leaders meet next week to see if a deal is possible. [49]

20. 21

    EU auditors warn on debt and spending errors

    The European Court of Auditors, which checks how the EU spends its money, said EU borrowing rose more than 20% to EUR 738.9 billion last year and could reach EUR 1 trillion by 2027. [50] Most of it funds the pandemic recovery plan and must be repaid between 2028 and 2058. [50] The auditors found 3.8% of last year's EU budget spending broke the rules, up from 3.6%, against a 2% limit they use. [50] They reported 17 suspected fraud cases. [50]

    Why it matters — The warning lands as governments argue over the next budget, which would copy much of the recovery plan the auditors criticise. [50][49]

21. 22

    Europe could run short of gas in a hard winter

    Europe could be short of 12% to 15% of the gas it needs if a severe cold snap hits this winter, said ENTSOG, the group of EU gas pipeline operators. [51] EU gas storage was 72% full on 1 October, against 83% a year earlier. [51] Both of its scenarios assume no Russian pipeline gas. [51] The worst case is damage to a major offshore pipeline plus a halt to imports from Algeria. [51]

    Why it matters — Countries in central and eastern Europe with no coast are most exposed, because gas would struggle to reach them from the west. [51] The EU has asked countries to fill stores early and share any cuts equally. [51]

22. 23

    Ryanair sees no jet fuel shortage

    Michael O'Leary, who runs Ryanair, Europe's biggest budget airline, said he expects no jet fuel shortages in Europe this winter or next summer. [52] About 900,000 tonnes of jet fuel from Asia are due over the coming months, according to Kpler, a firm that tracks cargoes. [52] Lower demand from November also helps. [52] A Kpler analyst said last month that prices are likely to stay high, because jet fuel is tied to diesel, which recently hit record prices. [52]

    Why it matters — Flights should keep running, but airlines and passengers still face high fuel costs. [52]

23. 24

    Viatris buys Pacira for $1.65 billion

    Viatris, a big drug maker whose medicines include Celebrex, agreed to buy Pacira BioSciences for $1.65 billion in cash. [53][43] It will pay $36.50 a share, 45% more than Pacira's price the day before. [53] Pacira's two main drugs, Exparel for pain after surgery and Zilretta for knee pain from arthritis, sold $692 million last year. [53] Both could soon lose patent protection, the legal right that keeps copies off the market. [53]

    Why it matters — Viatris is paying for drugs whose sales could shrink once copies are allowed, and says it will sell them in more countries through its own network. [53]

24. 25

    E.ON completes its Ovo takeover

    E.ON Next completed its purchase of Ovo Energy on Thursday, after Britain's competition regulator cleared it. [54] E.ON now supplies 25% of British households, just behind Octopus Energy at 26% and ahead of British Gas at 23%. [54] Almost three-quarters of households now buy from those three companies. [54] There is no immediate change for Ovo's 4 million customers. [54]

    • Octopus26%
    • E.ON25%
    • British Gas23%
    • Others26%

    Why it matters — For a decade, policy aimed to break up the 'Big Six' suppliers so more competition would lower bills. [54] Critics say three big suppliers have less reason to cut prices. [54]

25. 26

    Starbucks has looked at buying Chipotle

    Starbucks has been working with advisers on a possible takeover of Chipotle, the burrito chain, the Financial Times reported. [55] Chipotle shares rose about 6% on Thursday. [55] Starbucks' chief executive Brian Niccol ran Chipotle for six years before 2024, and Chipotle shares have lost about 40% since he left. [55] An analyst at D.A. Davidson put the chance of a deal at about 20%. [55]

    Why it matters — A deal would join the second- and seventh-biggest US restaurant chains, with about $31 billion and $11 billion of sales a year at home. [55] Starbucks said it does not comment on rumours. [55]

26. 27

    Coca-Cola tries again to sell Costa

    Coca-Cola is again exploring a sale of Costa Coffee, people familiar with it told Semafor. [56] Coca-Cola paid $5.1 billion for the British coffee chain in 2018, but has struggled to grow it. [56] It called off an earlier sale this year after private-equity buyers showed little interest. [56] Costa has 2,700 shops in the UK and Ireland and 20,000 staff, and lost nearly GBP 20 million across 2023 and 2024. [56]

    Why it matters — Costa's staff face a second sale process in a year. [56] Semafor says Coca-Cola may again choose to wait. [56]

27. 28

    Goldman's top bosses to share up to $500m

    About 20 top bosses at Goldman Sachs, a big Wall Street bank, are set to share a bonus worth up to $500 million in shares, one of the biggest in its history. [57] Chief executive David Solomon would get about $100 million, more than double his record $47 million pay last year. [57] The award, set up in 2021, depends on how far Goldman's shares rose over five years compared with rivals such as JPMorgan. [57] They have risen about 146%. [57]

    Why it matters — Goldman says the money is meant to stop its leaders leaving. [57] It reports its quarterly results on 13 October. [57]

28. 29

    Medicare ratings move health insurers' shares

    The US government agency that runs Medicare, the health plan for older Americans, published new star ratings for private Medicare plans on Thursday. [2] Plans with high ratings earn extra bonus payments from the US government. [2] Humana's shares jumped 16% after hours, because its biggest plan, covering over 2 million people, won back the rating it needs for those bonuses. [2] Alignment Healthcare fell 21% to 23%, and CVS Health, which owns Aetna, about 3%. [2][5]

    Why it matters — For these insurers one rating can decide billions of dollars of income, so a government score moved their value overnight. [2]

29. 30

    American Express fined $350m over money-laundering checks

    American Express's bank agreed to pay a $350 million penalty to the Office of the Comptroller of the Currency, a US bank regulator. [2] The regulator found it had not properly watched for money laundering. [2] The US central bank also issued an order against the company over failures to spot and report suspicious activity. [2] Its shares slipped 1% after hours. [2]

    Why it matters — Banks must spot and report suspicious payments so that criminals cannot move money through them unseen. [2]

30. 31

    Fewer Americans claim jobless benefits

    The number of people filing new claims for US unemployment benefits fell to 197,000 in the week to 3 October, from a revised 199,000 the week before, the US Labor Department said. [46] A new claim is filed by someone who has just lost a job, so the count is an early sign of layoffs.

    Why it matters — Claims fell again in the same week that US long-term borrowing costs hit a 24-year high. [46][24]

31. 32

    Waymo borrows $5 billion

    Waymo, the driverless taxi company owned by Google's parent Alphabet, closed a $5 billion loan, its first borrowing, from lenders including PIMCO, Blackstone and Sixth Street. [58] Until now it was funded by its parent and by investors buying its shares, most recently $16 billion in February at a $126 billion value. [58] It is expanding in US cities and into Europe and Japan. [58]

    Why it matters — Waymo called it a step to becoming a 'scaling commercial enterprise'. [58] Goldman Sachs led the deal, and the lenders also include Apollo, Fidelity and T. Rowe Price. [58]

32. 33

    TSMC and GlobalFoundries sign a $2bn US chip deal

    GlobalFoundries, a US chip factory company, will make a key part for TSMC's advanced chip packaging at its plant in Malta, New York, under a $2 billion deal over several years. [59] The part, a silicon interposer, links the processor and memory inside AI chips. [59] Packaging, the last step in making a chip, has been a major gap in US chip production. [59]

    Why it matters — More of each AI chip can now be finished in the US instead of only in Taiwan. [59]

33. 34

    Trump's August trades included Meta and SpaceX debt

    President Trump's latest financial disclosure lists 517 trades in August, worth between about $74 million and $273 million in total. [60] They include up to $25 million of Meta shares, and up to $5 million of SpaceX debt bought two days before he signed a policy on commercial space travel. [60] He also bought up to $1.6 million and sold up to $1 million of Nvidia shares. [61] Trump's spokesman says outside firms manage the money and copy stock indexes. [61]

    Why it matters — His government makes decisions that affect these same companies, including rules on Nvidia's chip exports. [61]

34. 35

    Trump Accounts pass 70 million

    Nearly 70 million Trump Accounts, US government-backed investment accounts for children, have been opened, more than 60 million of them automatically this month. [62] Children born from 2025 to 2028 get a one-time $1,000 deposit from the US Treasury. [62] President Trump said over $4.5 billion has been paid in so far. [62] New rules now let people donate shares, which officials say could bring large gifts. [62]

    Why it matters — Families must claim the accounts to use them, and Trump urged them to do so on Wednesday. [62]

35. 36

    Crypto and AI money floods the US midterms

    Crypto, AI and online gambling executives and companies have given more than $377 million to candidates and groups in the US midterm elections, a CNBC study of official records found. [63] Fourteen of the 20 biggest donors back Republicans only, or almost only. [63] Most big Democratic donors now give to candidates and outside groups rather than to the party itself. [63]

    Why it matters — Much of the new money goes to groups backed by these industries, not only to candidates. [63]

36. 37

    NFL asks the US Supreme Court to rein in prediction markets

    The NFL, America's professional football league, asked the US Supreme Court on Thursday to back the states in their fight with prediction markets such as Kalshi and Polymarket. [64][65] These sites let people trade contracts on game results under a federal regulator, without the state licences that betting firms need. [64] The NFL said nearly $2 billion was traded on its games on such sites on the season's opening Sunday. [64] The court has not yet agreed to hear the case. [64]

    Why it matters — If the states win, these sites would follow the same state rules as betting firms. [64] If they lose, the federal regulator's lighter approach stays. [64]

37. 38

    Reliance becomes top buyer of Venezuelan oil outside the US

    Reliance Industries, the Indian company run by billionaire Mukesh Ambani, is now the biggest buyer of Venezuelan crude outside the US, according to Kpler data. [66] India imported 257,000 barrels a day of Venezuelan oil in September, and 76% went to Reliance. [66] Its Jamnagar complex is the world's largest single-site refinery. [66] Reliance is also investing in a US refinery project backed by President Trump, who has pushed India to buy more Venezuelan oil. [66]

    Why it matters — India's state oil companies buy only now and then, so one private company carries most of this trade. [66]

38. 39

    Australia delays its tax-office card ban

    Australia's treasurer Jim Chalmers overruled the tax office on Friday and delayed its ban on paying tax bills by credit card until July 2027. [67] The tax office had planned to stop taking cards from 1 December, saying they would cost it almost $200 million a year. [67] That cost could no longer be passed on after Australia's central bank banned card surcharges. [67] About 5% of small businesses pay tax by credit card, often to manage their cash. [67]

    Why it matters — Australia's government is paying the cost for now, so small firms keep a way to spread out tax bills until next July. [67]

39. 40

    DP World to double Luanda's port

    DP World, the Dubai-based ports company, will spend $90 million over two years to more than double its terminal at the Port of Luanda in Angola. [68] It will lengthen the quay and add 15 cranes, so two large container ships can unload at once. [68] Angola extended its contract to run the terminal by 10 years, to 2051. [68] Volumes there have nearly doubled since 2021, to more than 350,000 containers. [68]

    Why it matters — Faster unloading can cut the time ships spend in port by up to half. [68] DP World plans another $4 billion of spending in Africa. [68]

40. 41

    China's housing slump nears a bottom, S&P says

    S&P Global Ratings, a credit rating firm, said China's home prices may hit bottom in the third quarter of 2028, and recover in the biggest cities as soon as next year. [69] In February it had said a recovery was out of reach. [69] It credits two government moves: limits on developers selling unfinished flats, and a mortgage subsidy for first-time buyers of smaller homes. [69] Analyst Edward Chan said 2026 is the first year China's stock of unsold homes is shrinking. [69]

    Why it matters — Developers buying less land means fewer new homes. [69] Chan said that helps prices but cuts the developers' own revenue. [69]

41. 42

    Blue Owl's bosses defend their shares

    The two chief executives of Blue Owl, a big US private lender, said they will not take the company off the stock market, though its shares have fallen about 70%. [70] The fall followed a wave of investors asking for their money back from private lending funds, which lend to companies outside the banks. [70] Co-chief Marc Lipschultz said public shareholders 'are going to benefit'. [70]

    Why it matters — Blue Owl also owns and rents out AI data centres, so its fortunes now ride on AI demand as well as on its loans. [70]