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What you’ll read?

• Lucid Group Exceeds Q3 Expectations Amid Cost-Cutting and SUV Production Plans.

• Warner Bros. Discovery's Max Gains 7.2M Subscribers in Strongest Quarterly Growth Yet.

• Today in AI & Tech

• Harris Concedes to Trump, Urges Supporters to Continue the Fight for Equality.

  and more…

BUSINESS

Automakers Face Market Hit Amid Tariff Concerns Under Trump.

Foreign automaker stocks, including Chinese and German brands, dropped as fears grew over President-elect Trump’s potential tariff hikes on imported vehicles. European-traded automakers BMW and Mercedes-Benz saw notable declines, along with Chinese and Japanese automakers, as Trump has previously suggested imposing high tariffs on imports to protect U.S. manufacturing. With the U.S.-Mexico-Canada Agreement due for renegotiation in 2026, trade uncertainty may continue affecting global automakers.

Lucid Group Exceeds Q3 Expectations Amid Cost-Cutting and SUV Production Plans.

Lucid Group reported slightly better-than-expected Q3 results, with a loss of $0.28 per share on $200 million in revenue. Despite a $992.5 million net loss, the electric vehicle maker highlighted record deliveries and strategic cost-cutting ahead of its new SUV, Gravity, set for production by year-end. Lucid reiterated its goal to produce around 9,000 vehicles this year and maintains liquidity into 2026, supported by a recent $1.75 billion capital raise and a continued focus on expansion and efficiency.

Warner Bros. Discovery's Max Gains 7.2M Subscribers in Strongest Quarterly Growth Yet.

Warner Bros. Discovery reported that Max gained 7.2 million subscribers in Q3, reaching 110.5 million users as of September 30. While overall revenue declined 4% to $9.62 billion, streaming revenue rose 8%, driven by subscriber growth and higher ad revenue. The company also swung to a profit of $135 million, as streaming offsets declines in traditional TV due to cord-cutting and a weaker ad market.

Moderna Reports Surprise Profit in Q3 Amid Cost Cuts and Stronger-than-Expected Vaccine Sales.

Moderna posted a third-quarter profit of $13 million due to cost-cutting measures and higher-than-anticipated Covid vaccine sales, alongside the launch of its RSV vaccine. Revenue reached $1.86 billion, with the U.S. market contributing $1.2 billion. The company, working to expand its product pipeline, is targeting savings of $1.1 billion by 2027. Moderna’s stock remains pressured, though it is focused on mRNA-based treatments and aims to bring 10 products to market over the next three years.

TECH

Today in AI & Tech

Morgan Stanley Expands Use of AI in Investment Banking.

Morgan Stanley is enhancing its investment banking and trading divisions by integrating OpenAI-powered generative AI tools. After introducing AI assistants in wealth management in 2023, the firm launched AskResearchGPT in its institutional securities group to streamline research. The tool provides quick access to over 70,000 annual reports, improving productivity for research analysts. Nearly half of Morgan Stanley's 80,000 employees use OpenAI-powered tools, reflecting a growing trend on Wall Street for AI adoption.

AI Research Aims to Improve Treatments for Children's Brain Tumours.

Researchers at the Cancer Research UK Children’s Brain Tumour Centre are exploring how AI can help identify new treatments for children with brain cancer. The team is also focusing on improving survival rates, especially for aggressive forms where survival beyond a year is rare. By using AI to create digital models of complex brain tumours, the center hopes to develop kinder, less toxic treatments for children, moving away from harsh options like radiotherapy.

AI-Painted Portrait of Turing Sells for Over $1 Million.

A digital portrait of WWII codebreaker Alan Turing, created by AI artist Ai-Da, sold for $1,084,800 at Sotheby’s, far surpassing its $120,000-$180,000 estimate. The sale marks a historic moment, as it’s the first humanoid robot artwork to be auctioned. The portrait reflects Turing’s pivotal role in computer science and artificial intelligence, sparking conversations about AI’s ethical and societal impact.

Other

Polymarket Eyes U.S. Relaunch Amid Rising Popularity in Political Betting.

Online prediction platform Polymarket plans a U.S. return after accurately forecasting Trump’s election win, boosted by shifting regulatory views on political betting. Founder Shayne Coplan highlights the platform’s unique edge in predicting elections, with $3.7 billion in trading volume during the presidential race. Polymarket’s relaunch follows regulatory shifts favoring similar platforms like Kalshi and Robinhood, marking a possible “inflection point” in political and financial markets for Coplan.

Trump’s Unusual Social Media Silence After Election Victory.

Following his election victory, Donald Trump has remained unusually quiet on social media platforms, including Truth Social, X, and others. His last posts were made before polls closed, leaving some to wonder if he is pausing for strategic reasons. While inactive online, Trump has been busy with congratulatory calls from world leaders, including Ukraine’s President Zelenskyy and the UK’s Prime Minister Starmer, as he prepares to transition into his new role as the 47th U.S. president.

Harris Concedes Election, Calls for Continued Fight for Core Values.

Kamala Harris conceded to President-elect Donald Trump, urging supporters to accept the results while committing to ongoing advocacy for freedom, opportunity, and dignity. Speaking at Howard University, she encouraged unity and resilience, reflecting on a campaign that broke fundraising records and drew endorsements from across the political spectrum. Although the race has concluded, Harris emphasized that the fight for essential values continues.

It's a Wrap!

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Sarah