Wall Street Breakfast GIC sues Nio over inflated revenue
Oct 16, 2025
A Singapore wealth fund is suing Nio, claiming the electric vehicle company inflated its revenue by over $600 million, causing a significant drop in share prices. Meanwhile, Nvidia is making strides in Australia with a $2.9 billion initiative to develop renewable-powered AI data centers. In a lighter segment, the fastest drive-thru chains are ranked, teasing Yum! Brands as the front-runner. Additionally, TSMC shines in Q3 earnings, and Morgan Stanley hints at an increase in share buybacks. Market trends and key Fed speakers are also highlighted.
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NIO Revenue Control Allegation Hits Stock
- GIC sued NIO claiming the company inflated over $600 million by misreporting leased battery revenue through a controlled firm.
- The allegation drove NIO shares down sharply in Hong Kong, Singapore, and premarket NYSE trading.
NVIDIA Backs Huge Australian AI Data Centers
- NVIDIA and Firmus Technologies are building Project Southgate, a $2.9 billion AI data center initiative in Australia.
- The facilities will use NVIDIA GB300 chips, run on renewables, and target an April online date.
Fastest Drive-Thru Chains Revealed
- QSR's drive-thru speed rankings place a Yum! Brands chain at number one among the fastest.
- The podcast lists the bottom five fastest, noting Chick-fil-A, Popeyes, Raising Cane's, Dutch Bros., and Starbucks.