AI-driven data centre boom boosts ABB’s U.S. sales and orders

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Swiss engineering giant ABB reported a strong third quarter as surging investment in data centres across the United States drives demand for its industrial robots, electrification products, and power solutions.

The company said new U.S. orders rose 27% in the third quarter, powered largely by the expansion of data centres needed to process artificial intelligence workloads. “It’s the normal standard business where there is strong demand,” said CEO Morten Wierod, noting the rise was not linked to U.S. import tariffs.

ABB generates about 7% of its revenue from data centres, up from 6% a year ago, and provides uninterruptible power supplies and electrification systems that keep critical servers online. Wierod said the AI boom is also driving broader electrification, forcing utilities and industrial sectors to increase investments.

Earlier this week, ABB announced a partnership with Nvidia to develop advanced infrastructure for next-generation data centres.

The company posted a 12% rise in operating EBITA to $1.74 billion, topping forecasts, while revenue grew 11% to $9.08 billion. Orders also climbed 12%. ABB’s shares initially rose 2.5% after the results before easing later in the session.

Chief Financial Officer Timo Ihamuotila, who will step down next year, said U.S. tariffs have had only a limited impact, costing “tens of millions” of dollars in profit, which the company has offset with price adjustments and efficiency gains. ABB currently manufactures about 75–80% of its U.S. products domestically, with plans to raise that to 90% through new factory investments.

CNN to launch $6.99 “All Access” streaming subscription on October 28

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CNN will debut a new $6.99-per-month subscription tier called “All Access” on October 28, marking its latest move into streaming three years after Warner Bros Discovery shut down CNN+.

The new U.S.-only service will combine live and on-demand video programming with full access to CNN.com articles and a library of CNN Originals, the network said on Thursday. The “All Access” package expands on CNN’s existing Basic tier, which launched last year and offers unlimited digital content and subscriber-only articles.

Current pay-TV subscribers will be able to log in to the new service at no extra cost, while digital-only users can subscribe monthly or opt for an annual plan at $69.99, discounted to $41.99 for the first year if purchased by January 5.

CNN CEO Mark Thompson, the former New York Times executive credited with driving its digital transformation, has been pushing to modernize CNN’s business as Warner Bros Discovery seeks to offset falling cable revenue and refocus on streaming.

“This is an essential step in CNN’s evolution,” said Alex MacCallum, CNN’s executive vice president for digital products and services.

The launch comes as rival Fox Corp rolled out its own subscription-based service, Fox One, in August for $19.99 per month, signaling intensifying competition for paid digital news audiences.

SEC uncertain over approval of proposed 3x and 5x leveraged ETFs amid market risks

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The U.S. Securities and Exchange Commission (SEC) said it is “unclear” whether newly filed 3x and 5x leveraged exchange-traded funds (ETFs) will meet regulatory approval, raising questions over products that amplify returns beyond current leverage limits.

“Since the U.S. government shutdown began, the agency has received a large number of ETF registration statements seeking 3x and 5x leveraged, equity-linked exposure,” said Brian Daly, director of the SEC’s Division of Investment Management. “It is unclear whether these ETFs would comply with the Derivatives Rule (Rule 18f-4), which generally limits leverage to 2x,” he added.

The filings include 27 proposed leveraged ETFs from Volatility Shares, which submitted the first-ever 5x ETF for the U.S. market. Such funds aim to multiply daily stock returns fivefold, but carry heightened risk of losses in volatile markets.

The SEC’s limited operational capacity during the shutdown has also slowed reviews. Analysts warn that excessive leverage could expose retail investors to amplified losses.

“Over half of leveraged ETFs launched more than three years ago have closed, and 17% have lost more than 98% of their value,” said Bryan Armour, ETF analyst at Morningstar, underscoring the danger of high leverage.

Amid recent market turbulence linked to U.S.–China trade tensions, leveraged ETFs have been blamed for intensifying selloffs, with JPMorgan estimating $26 billion in forced selling last Friday alone.

The SEC said no filings will be reviewed until the shutdown ends, leaving the fate of the proposed ETFs uncertain.