Key facts: AMZN AWS +43–45% forecast; Blocks Meta's Muse; 10–100yr debt

The NASDAQ Composite fell 1.25% on OpenAI revenue concerns, with Nvidia, Oracle, and Intel shares declining. OpenAI reported $50B annualized revenue, below estimates. Brent Crude and WTI oil prices also dropped. Chipotle shares rose 6.21% on potential Starbucks acquisition rumors, while PepsiCo gained 3.73% on strong Q3 earnings.

The Federal Energy Regulatory Commission designated Google Energy as a Category 2 wholesale electricity seller in the PJM market. Google's power generation capacity exceeded 500 MW, requiring periodic reports to prevent market manipulation. The company is investing $25B in data centers and power projects, including a $4.3B nuclear power deal and a $3B hydropower upgrade. Competitors Amazon and Microsoft are also securing power supply agreements in the PJM market.

Amazon (AMZN) has agreed to a $309.5 million settlement for customers who did not receive proper refunds for returned merchandise. The settlement covers a class-action lawsuit alleging refund processing failures from 2017 to 2026. Customers can file claims by Dec. 1, 2026, with a final approval hearing scheduled for March 2027. Amazon denies wrongdoing but has agreed to monitor return processing times and notify customers of refund statuses.

Amazon has built its 1,000th satellite for its Project Kuiper internet service, aiming to launch soon. Despite rapid production, only 396 satellites are in orbit, falling short of FCC requirements. Amazon seeks to regain spectrum priority by proving hardware completion and launch bookings. The company has invested heavily in satellite manufacturing and testing.

The U.S. government froze green-card applications from Microsoft, Adobe, and IT outsourcers like Infosys, citing alleged abuse of the system. Vice President Vance accused Microsoft of laying off U.S. workers while hiring foreign labor. The suspension affects companies that filed nearly 3 million foreign worker applications since 2009. Microsoft stated it pays H-1B employees equally and most applications were for current staff.

The Trump administration froze green-card filings by Microsoft, Adobe, and major IT firms, alleging fraud. Microsoft, the largest PERM applicant, denies wrongdoing. Nine universities, including Harvard and Yale, are also under investigation for visa misuse. The move may impact tech companies' hiring and innovation.