This update was written automatically with AI from market data and news wire reports, and published without review by a person.
Key Takeaways
- Novartis (NVS) reported that its oral drug remibrutinib met all primary endpoints in Phase 3 trials, reducing the relapse rate by 35% in patients with relapsing multiple sclerosis (RMS) compared to existing treatments.
- TikTok U.S. is reportedly scouting for four gigawatts of computing power by the early 2030s to support its domestic operations under its new joint venture structure.
- Japan is considering a strategic rebranding of AI and energy investments as "defense spending" to meet U.S. pressure to increase military outlays toward 3.5% of GDP.
- President Trump confirmed the U.S. will not initiate military strikes against Iran before the November 3rd midterms, citing ongoing "productive discussions" despite a continued naval blockade.
- Big Tech earnings dominate next week's calendar, with Microsoft (MSFT), Alphabet (GOOGL), and Amazon (AMZN) all scheduled to report results.
Novartis Achieves Superior Results in Phase 3 MS Trials
Novartis (NVS) announced today that its highly selective oral BTK inhibitor, remibrutinib, successfully met its primary endpoints in the pivotal REMODEL-1 and REMODEL-2 Phase 3 trials. The drug demonstrated a 35% reduction in the annualized relapse rate (ARR) compared to the standard-of-care treatment, teriflunomide.
The clinical data also revealed a significant impact on disease progression, with 92% of patients remaining free from progression at the six-month mark. Critically, the trials showed no liver safety signals, a major breakthrough for the BTK inhibitor class which has historically been plagued by toxicity concerns. Novartis (NVS) plans to seek global regulatory approval for the drug in RMS starting in 2027.
TikTok U.S. Targets Massive Compute Expansion
TikTok’s U.S. entity, TikTok USDS, is actively seeking to secure up to four gigawatts of computing capacity by the early 2030s, according to sources cited by CNBC. This massive infrastructure push follows the finalization of a deal earlier this year that transitioned TikTok’s U.S. operations into a joint venture involving Oracle (ORCL), Silver Lake, and MGX.
The demand for "multiple gigawatts" underscores the platform's intensive data processing needs and its commitment to housing U.S. user data domestically. While Oracle (ORCL) remains the primary cloud provider, the scale of this request suggests TikTok is preparing for a significant expansion of its AI-driven algorithm and content moderation capabilities.
Japan Weighs Defense Rebranding Amid Trump Pressure
The Japanese government is weighing a plan to reclassify spending on artificial intelligence, energy, and infrastructure as defense expenditures. This move comes as the administration of Prime Minister Sanae Takaichi faces pressure from the Trump administration to increase security spending toward a benchmark of 3.5% of GDP.
By including dual-use technologies like AI-driven surveillance and energy security projects, Japan aims to inflate its official defense outlays without further straining its heavily indebted public finances. The Nikkei reports that this rebranding could include investments in satellites, ports, and railways essential for military logistics.
Geopolitical Tensions: Iran Strike Paused, Russian Evacuations
President Trump stated on Thursday that the U.S. will refrain from attacking Iran before the upcoming midterm elections on November 3rd. While the President noted that a naval blockade remains in full effect, he emphasized that "productive discussions" are currently underway with Tehran to prevent the acquisition of nuclear weapons.
Despite the pause in U.S. military action, flight-tracking data indicates a Russian Air Force TU-134 recently departed Iran with its transponder off. Reports suggest the flight was used to evacuate high-ranking personnel and Russian scientists from the Bushehr Nuclear Power Plant, mirroring evacuation patterns seen prior to previous regional strikes.
Market Outlook: Mega-Cap Earnings Week Ahead
Investors are bracing for a high-stakes week as several of the world's largest companies prepare to release quarterly results. The schedule begins with Verizon (VZ) and Visa (V) on Monday and Tuesday, followed by the "headliners" on Wednesday: Microsoft (MSFT) and Alphabet (GOOGL).
Thursday will see reports from Amazon (AMZN), Eli Lilly (LLY), and Intel (INTC), while the week concludes on Friday with energy giants ExxonMobil (XOM) and Chevron (CVX). Analysts will be particularly focused on AI capital expenditure guidance from the hyperscalers to gauge the sustainability of the current tech rally.
Automated market updates written with AI from market data and news wire reports, published without human review.