Kinder Morgan Inc. formally committed to building a $4.2 billion pipeline that will haul fuel across West Texas and the Panhandle to help power a data center complex.

Libby Leffler, discusses whether Meta’s history of scaling up new initiatives offers reason to doubt Zuckerberg’s ability to succeed. Leffler discusses Meta’s fourth-quarter revenue outlook of $73 billion to $76 billion, compared with an estimate of $73.57 billion, and noted a new non-voting Class C common stock. She speaks with Romaine Bostick & Mandeep Singh on "The Close." (Source: Bloomberg)

Meta Platforms boosted its capital spending outlook and announced plans for a new class of nonvoting stock, escalating its already-stratospheric bet on artificial intelligence. Capital expenditures will be $135 billion to $145 billion in 2026, the social-media giant said during its quarterly earnings report Wednesday, raising the bottom end of the range from $130 billion. The new class of shares, meanwhile, will be distributed to existing investors through a stock dividend. Holders will get one share of the new stock in what will essentially be a two-for-one stock split, Meta said. It expects trading of the new shares to begin in January. Bloomberg Tech Host Ed Ludlow joins Bloomberg Businessweek Daily to discuss. He speaks with Carol Massar and Tim Stenovec. (Source: Bloomberg)

Frank Baker, CEO and Managing Partner of October Capital, discusses the launch of the new firm, formed by tech-focused private equity shop Siris. October Capital will focus on services supporting AI infrastructure, physical security, and financial infrastructure. He speaks with Romaine Bostick & Jess Menton on "The Close." (Source: Bloomberg)

Steve Westly, founder and managing partner of The Westly Group and a former Tesla board member, expects SpaceX and Tesla to combine. He speaks on "Bloomberg The Close." (Source: Bloomberg)

Tasha Keeney, Ark Investment director of investment analysis, says robotaxis are the future for Tesla. She says the company is well positioned over its peers and the Cybercab is cheaper to operate compared to Waymo's next generation vehicle. Elon Musk's company reported third-quarter profits that beat estimates. (Source: Bloomberg)

Ygal Arounian, Wedbush Internet equity research managing director, reacts to Meta Platforms' third-quarter earnings and boosted capital spending outlook. He speaks on "Bloomberg The Close." (Source: Bloomberg)

IBM says sales increased by 5% to $17.1 billion in the third quarter, topping estimates. Sales in the software unit also expanded. The company reported earnings of $2.95 per share. CEO Arvind Krishna says AI is a tailwind. Romaine Bostick discusses with Mandeep Singh and Anurag Rana of Bloomberg Intelligence. (Source: Bloomberg)

SAP SE reported higher growth for its cloud products than anticipated in a sign that the boom in artificial intelligence hasn’t undermined demand for the German software maker’s offerings.

International Business Machines Corp. reported sales that topped analysts’ estimates, saying it had recovered most of the infrastructure deals that were delayed earlier this year.

Meta Platforms Inc. boosted its capital spending outlook and announced plans for a new class of nonvoting stock, escalating its already-stratospheric bet on artificial intelligence.

Texas Instruments Inc., the biggest maker of analog and embedded processing chips, gave a strong revenue forecast for the current period, lifted by demand from automotive and industrial customers.

With Bose acquiring Skullcandy today, CEO Lila Snyder sat down with Bloomberg's Romaine Bostick to discuss what the deal means for both companies, how the audio company is trying to reach the next generation with wired headphones  and the role AI will play in future products. (Source: Bloomberg)

Meta Platforms Inc. has established a new class of non-voting stock that it could use to fund its heavy spending on artificial intelligence.

Madhu Namburi, managing director, co-head of creation fund at General Catalyst, joins Dani Burger on "Bloomberg Deals." They discuss how AI is affecting dealmaking and investments. (Source: Bloomberg)

French AI company, Pigment has raised $250 million at a $2.3 billion valuation as it aims to take on the dominance of Microsoft's Excel and PowerPoint. Co-CEO Eléonore Crespo explains why backing from Nvidia is a particular validation of the startup and how it’s looking to investors in Asia to help expand into that region. Crespo joins Ed Ludlow on “Bloomberg Tech.” (Source: Bloomberg)

Bloomberg’s Ed Ludlow breaks down SpaceX's blowout quarterly results and Elon Musk's suggestion that the company combine with Tesla. Plus, Netflix looks to find its next big hit as growth at the streaming giant slows, and a report on Anthropic's draft S-1 offers some new insight and confirmation of the AI firm's financials ahead of its IPO. (Source: Bloomberg)

Meta Platforms Inc. was ordered to pay a groundbreaking $25 billion civil penalty to the state of New Mexico in a consumer deception case spurred by the Cambridge Analytica scandal.

The US Navy will no longer buy a highly prized — but ultimately troubled — drone speedboat manufactured by Aevex Corp.’s BlackSea after already spending more than $130 million on the technology, according to people briefed on the matter.