Cathie Wood Backs AI Slowdown but Calls Extinction Fears ‘Ridiculous:’ What Do Prediction Markets Say?

Tesla's stock rose 2% after Elon Musk confirmed preliminary talks with TSMC about potential cooperation on the Terafab chip project. TSMC could operate a Texas factory or provide tech, while Musk's companies retain control. Intel, already a partner, saw its shares fall 2%.

Tesla (TSLA) delivered 486,532 vehicles in Q3 2026, exceeding analyst estimates of 461,974 and rising 1.3% from Q2. Shares closed at $370.59, up 4.7%. BYD sold 762,478 battery-electric vehicles, widening its lead over Tesla. Tesla's energy storage deployment was 13.7 GWh, below expectations. Full Q3 financial results are due October 21.

Nvidia's $20B acquisition of Groq faces a lawsuit from former shareholders, alleging breaches of fiduciary duty and lucrative side agreements. The deal, aimed at bolstering Nvidia's AI chip market position, is under scrutiny in Delaware's Chancery Court. Groq denies wrongdoing, stating the deal provided value to investors and employees. Nvidia is not a defendant in the lawsuit.

BNP Paribas raised Nvidia's (NVDA) price target to $345 from $285, citing its leadership in AI hardware and software. The firm highlights Nvidia's high gross margins and growth prospects. NVDA's GF Value™ suggests it is 41.2% undervalued, with an intrinsic value of $402.64. Insiders have sold $2.1 billion in shares over the past year, with no purchases reported.

Nvidia's $20B deal with AI chip designer Groq faces a lawsuit from ex-engineers alleging stockholders were shortchanged. The lawsuit claims Groq's board sold the company without a stockholder vote. Groq and Nvidia deny the allegations. Groq will remain independent and has raised $1B since June.

BNP Paribas increased Nvidia's price target to $345 from $285, citing its AI hardware, software, and networking. The brokerage maintains Nvidia as its top semiconductor stock due to its leading AI computing position. Intel's price target was also raised, according to the report.