Pine Labs shares rose sharply on Thursday after the fintech company reported a 543% year-on-year jump in Q2 FY27 net profit to Rs 38.6 crore. Revenue rose 24% to Rs 806.2 crore, while EBITDA increased 67.3%. Growth in payments, UPI transactions and international markets supported performance as the company expands into AI-led commerce.

Michael Burry, who predicted the 2008 financial crisis, warned that Anthropic has committed to buying about $537 billion in computing power, roughly 12 times its annualized revenue. He cautioned that disappointing AI revenue could trigger a market correction.

City Union Bank shares rose sharply on Thursday after the lender reported a 27% year-on-year rise in Q2 FY27 net profit to Rs 416 crore. Net interest income grew 31%, while asset quality improved, with gross NPAs falling to 1.44%. Deposits and advances also recorded strong growth during the quarter.

The Nifty Midcap 150 and Nifty Smallcap 250 indices have fallen roughly 4% this month, while the benchmark Nifty has held broadly flat. Largecap earnings are lending support, with second-quarter net profit at Nifty 50 companies up 19% from a year earlier.

Samsung Electronics’ third-quarter net profit came in below expectations, dragging battery, auto and steel shares lower. The won strengthened 0.72%. Authorities pledged to monitor volatility.

Samsung's third-quarter operating profit rose more than 780% from a year earlier, driven by demand for AI chips. Net profit increased more than 510%. Its shares fell, however, as investors questioned whether AI spending can be sustained.

The Federal Reserve held rates steady in a 10-2 decision, saying economic growth is strong. Traders cut their bets on rate increases in 2027. They put the probability of a December hike at 78%.

Azure revenue grew 48%, ahead of expectations. Capital expenditure of $45.2 billion drew attention as investors weighed Microsoft's AI infrastructure spending.

The heavyweights of the AI industry are facing a reckoning on Wall Street, reflecting concerns over who will bear the cost of the artificial intelligence buildout that has fueled much of this year's stock market gains.