9AM HOUR: AI Trade Pain, Meta and Tesla Slide, Jensen Huang Interview 10/22/26

Despite Q3 beats, Meta and Tesla fell as investors grew wary of surging CapEx, negative free cash flow, and neocloud financing strain.

• Meta sells off despite beat: Meta raised 2026 CapEx guidance to $135-$145B (from $86B spent so far), posted its first-ever negative free cash flow (-$2.1B), and Reality Labs lost $19B; stock fell from near $800 to down ~6%.
• Tesla trims CapEx, auto revenue negative: Tesla cut 2025 CapEx to $20B (down from a $25B raise six months ago) as auto revenue fell year-on-year; Musk predicted Tesla will handle 'majority of all passenger miles on earth' and floated 5M vehicles/year by 2030.

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