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Oracle (ORCL.N) has completed the pricing of $20 billion in stock and bonds, issuing 86,206,897 shares of common stock at $116 per share. It also issued $10 billion in senior bonds with maturities from 2029 to 2046.

UBS points out that AI investment is entering its second phase, with the beneficiaries of capital expenditures expanding from suppliers directly serving large cloud computing companies to upstream industrial equipment, materials, and component manufacturers. Europe is experiencing a new round of industrial capacity expansion opportunities, and AI infrastructure construction will drive broader supply chain investment. UBS divides the AI ​​industry chain into three tiers: the first tier consists of companies that directly supply products to data center developers; as AI demand continues to grow, these companies need to invest in expanding capacity, thereby creating new orders for the second tier of equipment and materials suppliers; the expansion of the second tier further drives the third tier of component suppliers. This means that the capital expenditures of large cloud computing companies may be transmitted step by step along the supply chain, forming new industrial investment demand. UBS believes that the fundamentals of AI demand remain resilient, but financing conditions are becoming a key differentiator for corporate performance. As capacity expansion investments extend to more tiers, balance sheet strength, cash flow, and low-cost financing capabilities will affect a company's ability to absorb new demand. Large cloud computing companies with ample cash reserves have a relative advantage, while companies relying on external financing may face higher financing costs and project execution pressures.

UBS (UBS.N) CEO: Gold remains an important investment choice.

Goldman Sachs has raised its 2027 forecast for the average European benchmark natural gas TTF price to €51/MWh (from €32/MWh) to reflect a 45% subjective probability of a weak Middle East gas supply scenario during the winter.

Goldman Sachs has raised its Q1 2027 forecast for European natural gas prices to €74/MWh (previously €44/MWh).

According to Nikkei Asia, artificial intelligence is significantly increasing the speed at which cyber attackers can discover and exploit system vulnerabilities, putting greater pressure on traditional cybersecurity defenses. A Nikkei survey shows that between September 1st and October 6th, major data breaches worldwide involved the personal information of over 300 million people, including approximately 57 million in Japan. Brett Goldstein, a professor at Vanderbilt University and former head of AI strategy at the U.S. Department of Defense, pointed out that system intrusion points that previously required months of human intervention can now be discovered in minutes with the help of AI, and the widespread adoption of open weight models has further accelerated attacks. Meanwhile, AI is also beginning to be used for defense. The British government has used advanced AI systems to discover and assist in handling over 1,000 potential vulnerabilities, while Japan launched its AI cybersecurity project, YATA Shield, in May of this year. Experts believe that offensive AI may continue to outpace defensive capabilities in the next two years. Enterprises should strengthen vulnerability remediation while establishing network isolation, data backup, and business continuity mechanisms to ensure that critical business operations can continue to function after an intrusion.