Good afternoon and welcome to Markets Desk.
Netflix is posting record profits, with trailing twelve-month net income of roughly thirteen point six five billion dollars, surpassing the full-year record of ten point nine eight billion set in twenty twenty five. Yet the stock remains thirty-five percent below its all-time high, leaving investors weighing whether that earnings strength is already priced in or represents a genuine entry point.
Shifting to the AI space, OpenAI is moving to cut off model access to the coding tool Cursor following SpaceX's sixty billion dollar acquisition of the startup by Elon Musk. OpenAI cited concerns about the new ownership structure, with the cutoff set for November twelfth, a move that signals how quickly AI partnerships can unravel when corporate allegiances shift.
And in a developing legal story with real financial stakes, Sony Music and Warner Chappell have sued Anthropic, accusing the Claude developer of training its models on copyrighted music without authorization. The publishers are seeking up to one hundred fifty thousand dollars per song, a figure that, if applied broadly, could represent existential liability for AI firms relying on unlicensed creative content.
That's the tape. Markets Desk, signing off the floor.
