US Stock Futures Edge Higher as SpaceX and Tesla Explore Merger and Meta Earnings Approach: Dow Jones, S&P, Nasdaq, Wall Street
US stock futures traded mostly higher on Wednesday as investors assessed corporate earnings, developments in artificial intelligence investment and geopolitical uncertainty surrounding the conflict in the Middle East. Attention also turned to comments from Elon Musk about a potential merger between SpaceX and Tesla, reports concerning Anthropic’s financial performance and Meta Platforms’ forthcoming quarterly results.
US futures rise as investors assess earnings and oil prices
At 03:01 ET (07:01 GMT), S&P 500 futures were up 13 points, or 0.2%, while Nasdaq 100 futures gained 148 points, or 0.5%. Dow Jones futures were broadly unchanged.
Wall Street ended Tuesday’s session with mixed results. The S&P 500 and Dow Jones Industrial Average advanced, while the Nasdaq Composite closed slightly lower.
Oil prices fluctuated during the session following unconfirmed reports that Qatar and Pakistan had proposed renewed negotiations aimed at ending the conflict involving Iran. Brent crude briefly declined from approximately $112 to $106 per barrel before recovering.
The initial decline in energy prices coincided with gains in equities, which have recently been affected by concerns over borrowing costs and the scale of debt-financed investment in artificial intelligence infrastructure.
“The relief from energy that played out late in the European session meant equities rallied as investors overcame some of their earlier AI jitters,” Deutsche Bank analysts said in a research note.
Brent subsequently returned to approximately $110 per barrel after reports of comments attributed to Iran’s president concerning the possibility of further US military action.
Technology shares underperformed parts of the broader market. An index tracking semiconductor companies declined 0.29%, although it recovered much of its earlier losses. AI cloud infrastructure provider CoreWeave (NASDAQ:CRWV) also rebounded during the session.
SpaceX and Tesla establish committees to examine possible merger
SpaceX (NASDAQ:SPCX) and Tesla (NASDAQ:TSLA) have formed committees to evaluate a potential combination of the two businesses, according to Elon Musk, who serves as chief executive of both companies.
Speaking to investors following SpaceX’s quarterly earnings announcement, Musk said the committees had not reached an agreement on “the terms of any transaction.”
Musk, who is not a member of either committee, said there was “no guarantee” that a merger would take place, although he considered there to be “a lot of merit” in combining the businesses.
Shares in both companies advanced in after-hours trading following the comments.
A potential transaction would bring together SpaceX’s rocket launch and satellite operations with Tesla’s electric vehicle and related technology businesses. No transaction terms or timetable have been announced.
SpaceX reported third-quarter revenue of $14.6 billion, an increase of more than 160% compared with the previous year and above analysts’ expectations.
The company recorded profit of $4.4 billion, while capital expenditure reached $19.6 billion during the period.
The results marked SpaceX’s second quarterly earnings publication since its initial public offering earlier in 2026.
Tesla is scheduled to report its quarterly financial results after Wednesday’s market close.
Anthropic reports revenue growth alongside financial and operational risks
Artificial intelligence developer Anthropic (NASDAQ:ANTP) reported substantial revenue growth during the first half of the year, according to media reports citing disclosures associated with its potential initial public offering.
The company, which develops the Claude AI models, generated revenue of $16.3 billion during the six-month period.
Approximately 20% of that revenue came from two customers, highlighting the concentration of sales among a relatively small number of clients.
Anthropic indicated that a significant proportion of its revenue is expected to remain dependent on a limited customer base for the foreseeable future.
The company also identified uncertainty surrounding access to the computing infrastructure required to develop and operate its AI models.
Anthropic recorded a net loss exceeding $80 billion, compared with a loss of $13 billion in the corresponding period last year. The reported increase was largely attributed to an accounting adjustment.
Additional risks identified in the disclosures included potential legal liabilities arising from the use of artificial intelligence, including cybersecurity-related incidents.
Reports suggested that a future stock market listing could value Anthropic at approximately $2 trillion, although no confirmed IPO valuation was provided.
Meta earnings to provide update on AI investment plans
Meta Platforms (NASDAQ:META) is scheduled to release its quarterly earnings after Wednesday’s closing bell, with investors focusing on revenue performance and the company’s spending plans for artificial intelligence.
The owner of Facebook and Instagram has recently expanded its AI product portfolio following the September introduction of its Muse model.
According to the reported information, the product attracted millions of downloads following its launch, with applications including travel booking assistance and tools for small businesses.
Meta subsequently introduced an open-weight version of its Muse Spark model for coding applications.
The earnings announcement will provide an update on Meta’s investment requirements as it expands its AI infrastructure and related services.
Large technology companies have committed substantial capital to advanced semiconductor purchases, computing capacity and data centre construction as they develop AI products.
Investors have increasingly focused on the relationship between these expenditures, financing requirements and the revenue generated by AI-related services.
Meta’s results will therefore be examined for information on capital expenditure expectations and the financial contribution of its AI initiatives.
Nvidia reportedly considers additional investment in Firmus Grid
Nvidia (NASDAQ:NVDA) is in discussions about investing hundreds of millions of dollars in Australian AI cloud infrastructure company Firmus Grid, according to a report by The Information.
Nvidia already holds an investment stake in Firmus and has invested in several other companies operating in the AI cloud infrastructure sector.
The reported discussions follow Firmus Grid’s decision to abandon plans for an initial public offering in Australia earlier this month.
The company cited recent financial market volatility as a reason for withdrawing the proposed listing, which it said would not have been in shareholders’ interests under the prevailing conditions.
Firmus had previously outlined plans for an IPO at a valuation exceeding $30 billion, potentially making it one of Australia’s largest stock market listings.
The size, structure and timing of any additional Nvidia investment have not been confirmed.
US equity markets entered Wednesday’s session with attention divided between corporate earnings, AI infrastructure financing and developments in the Middle East. The forthcoming results from Meta and Tesla, together with reported activity involving SpaceX, Anthropic and Nvidia, are among the company-specific developments being assessed by investors.
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