The Rundown - Meta Muse’s $27 Billion Potential, Google Locks In Nuclear Power

Episode Date: October 6, 2026

Market update for October 6, 2026Limited Time Promo: Sign up for a Public account, deposit $1,000 and get $100 in free stock (LINK)Follow us on Instagram (@TheRundownDaily) for bonus content and instant reactions.In today’s episode, Zaid covers:Why corporate America sounds unusually confident heading into earnings season, even as yields climbWall Street’s $27 billion vision for Meta Muse, and the chipmakers benefitingGoogle and Amazon’s growing appetite for nuclear powerVistra’s rally as federal financing backs nuclear upgradesThe supplier bidding war rattling Seagate and Western DigitalHow the AI boom is reshuffling the world’s biggest fortunes

Public.com presents the rundown. Your daily market update in 10 minutes. My name is Zaid Admani, and today is Tuesday, October 6th. And today's episode, we'll tell you why the stock market is completely ignoring surging bond yields. We'll also tell you why Wall Street thinks that Meta's muse could become a $27 billion business and why Google and Amazon are paying to upgrade old nuclear plants. Then stick around to the end of the show to find out what the AI boom is doing to the billionaires list. We got a great show for you today. Let's go. Stocks are off to a hot start this week. The S&P 500 climbed 0.7% on Monday while the NASDAQ jumped 1.1% closing at record highs. The S&P is also less than 1% away from record highs as well. Not to mention Nvidia also closed

at record highs yesterday for the first time since May. So stocks are back to making new highs, and it wasn't just tech taking part of this rally. 10 of the 11 S&P sectors finished higher on Monday. And this was happening despite bond yields continuing to surge. The 10-year Treasury yield briefly topped 5.34% on Monday, which is its highest level in 24 years before ending the day around 5.31%. But look, the stock market seems to be ignoring the bond market these days because investors are betting on another strong earnings season. And we're about to kick off another round of earnings and companies are sounding optimistic. Of the 116 S&P 500 companies that have issued earnings per share guidance for Q3,

72% issued a positive guidance. What a positive guidance means is that the company expects earnings per share to come in above what analysts were projecting when that forecast was issued. And 72 is the highest number of positive forecasts since facts said, started tracking this data back in 2006. See, here's the thing. Companies typically will lowball their guidance on purpose because they want to under promise and over deliver and get headlines that say that they beat expectations.

Now, to be fair, 46 of those 72 positive forecasts are from tech companies, especially software and chip companies. I'm really curious to see how non-tech companies are doing. We're actually going to get an early look at that later this week when PepsiCo and Delta Airlines report their numbers. Those results should give us a better picture of what consumer spending outside of the AI boom is looking like. And both those reports could set the tone for the rest of earning season. So I'm really looking forward to that.

We'll break those numbers down later in the week. Now, before we move on, a quick favor from you guys if you're listening on Spotify. On yesterday's show, we posted a poll where we asked how you guys are managing your investments. Do you do it yourself? Do you have a financial advisor? Or is it a mix of both? If you haven't voted in that poll yet, please go back to yesterday's episode and take a few seconds to respond. we'd love to hear from you.

And while you're at, I'd consider giving us a five-star rating as well. Leave us a comment. You know, all this engagement really does help us out and helps other people find the show. All right, let's get to the rest of the show. Let's run through some headlines.

Starting with meta. Meta stock has been one of the best performers over the last month or so thanks to the success of their AI agent app called Muse, which continues to be number one on the app store. And Wall Street is started to get really bullish on Muse now, Citigroup estimates that Muse could generate more than $27 billion in annual revenue by 2030. City thinks that 85% of that will be transaction related to revenue

where meta takes a cut from every transaction that happens on Muse. So think like every time Muse buys something for you, meta will take a small cut. The rest of the revenue would be from subscription, so people upgrading for more usage. I'm surprised they didn't say anything about advertising because that could be a huge revenue source as well. According to City's estimates, the Muse app has passed 6.6 million downloads, and they have about 1.8 million daily active users already. Now, obviously, this is a pretty optimistic estimate, and it's still early, but honestly, I'm pretty bullish here as well. If Muse becomes the front page of the internet, kind of like how Google is right now, that could be a massive opportunity. Every time you want to do something

online, whether it's checking your emails or buy something, it might be through your AI agent. And that's exactly why Amazon blocked Muse from its website a couple weeks ago. Amazon doesn't want meta standing between them and their customers. Now, I still think we're pretty far away from everyone just using personal AI agents. Like, I've been using Muse pretty much every day for the last three weeks now, and I feel like it's getting a bit dumber. Like, Muse is starting to make mistakes and not work as well as before. Now, that might just be because of compute constraints, but it is pretty frustrating. But look, if meta can address these issues and keep the momentum going, there is a ton of upside here.

By the way, another winner from the Muse popularity has been A and. MD and Intel. AMD stock has jumped 32% over the past month, and Intel has jumped more than 20%. The thing is, AI agents like Muse don't just run on GPUs, like Nvidia's chips. They also require CPUs. Like, think of it like this. The GPUs do the thinking while the CPUs do the actual work,

like updating your calendar, checking your emails, or buying something for you. And AMD, you can capitalize big here because they make both CPUs and GPUs, And that's why they've seen their stock surge over the last month. So I'm keeping my eye on AMD. And I can't wait to hear what they have to say in their earnings report on November 3rd. Let's shift gears and talk about Constellation Energy because they've announced two massive tech deals over the last week. Constellation Energy is the biggest nuclear power operator in the U.S. And last week, they announced a 20-year deal with Amazon to provide 690 megawatts of power.

This includes new power from upgrading their power. planned in Maryland. And then this morning, the company just announced a 20-year deal with Google. As part of this deal, Constellation will be upgrading 11 of their existing reactors in Illinois, Pennsylvania, and New Jersey, which will allow them to squeeze an extra 890 megawatts worth of power. And Google is planning to buy all of that new power for the next 20 years. On top of that, Google is also buying 270 megawatts from Constellation's existing fleet over the next 15 years, which includes nuclear, natural gas, and renewables. And one of the bottlenecks of AI right now is power.

Google, Amazon, and other big tech companies need as much power as they can get for their AI data centers, which is leading to a comeback in nuclear energy. You know, for nuclear companies like Constellation, locking in a major customer like Google and Amazon allows them to make the investments and upgrades to their existing plants and potentially build new ones. Shares of Constellation Energy are up more than 13% this morning at the time of this recording. But if you zoom out, though, the stock had been struggling this year down more than 25% heading into today. So maybe this will be the start of another nuclear rally.

Let's talk about some stocks making moves today. Shares of Vistra are getting a boost this morning after the federal government offered up to $4.2 billion to help upgrade the company's nuclear power plants in Ohio and Pennsylvania. Now, they're not building new reactors, which can take a long time, these upgrades squeeze more power out of a plant that already exists. Now, Vistra still has to meet certain requirements before the loans get funded, but investors were happy to hear the news. shares of Vistria are up more than 9% this morning at the time of this recording.

You know, Vistra was one of the early winners of the AI boom. In fact, the stock went up over 300% from the start of 2024 to the end of 2025, but the stock has been struggling in 2026 is down 15% on the year heading into today. So this is a nice shot in the arm. Now, on the flip side, shares of Seagate and Western Digital are falling again. We talked on Friday about how Toshiba plans to expand their hard drive production and how that could reduce the pricing power for Seagate and Western Digital, which have been booming thanks to the AI data center demand.

Well, there's a new twist to the story. Bloomberg reported that Seagate and Toshiba are in a bidding war for TDK's business that makes magnetic heads for hard drives. Think of it like a needle on a record player. the part that actually reads and writes the data on the hard drive. TDK supplies these magnetic heads to Seagate, Toshiba, and Western Digital. So whoever wins the bid for TDK, I mean, their rivals would be dependent on them for a very critical part of the supply chain.

And that's why many analysts think that regulators might not allow this deal to go through either way. The market seems to be worried about it, though. Shares of Seagate and Western Digital are both down more than 5% this morning at the time of this recording. Let's wrap the show with the fun. fact. Tech billionaires are having a great year. According to Bloomberg, tech billionaires have added a combined $845 billion to their wealth through the end of September. Meanwhile, billionaires

outside of tech collectively lost $64 billion over that same time period. Another fun fact, since September 10th, all 10th of the world's richest people have been American. That's the first time that's happened since Bloomberg started tracking the rankings in 2012. On top of that, nine of those 10 American billionaires are in the tech sector, with the only exception being Warren Buffett. But then again, Berkshire Hathaway owns a ton of Apple and Google stock. So I'd say Warren Buffett is like tech adjacent. Another bonus fun fact, Elon Musk's net worth is back above a trillion dollars again, thanks to the recent rally in SpaceX and Tesla stocks. Remember, Elon first crossed the trillion dollar mark after SpaceX went public back in June.

but then SpaceX stock tanked and his net worth fell $600 billion from its peak. But now it's back. So yeah, a lot of the wealth being created right now is from AI and a lot of that is based here in the US. And you know, once Open AI and Anthropic go public soon, many of their early employees will be sitting on eight, maybe even nine figures of wealth from their stock-based compensation over the years. And a lot of the early investors in Open AI and Anthropic will also be sitting on massive gains.

I mean, everyone that owns tech and AI stocks in their business, portfolio are benefiting from this boom. But I do wonder if this will lead to even more wealth inequality over the next few years. Well, all right, guys, that's the rundown for today. Hope you guys enjoyed today's episode. Thank you guys so much for listening, watching, and commenting. Shout out to Mike and V for all the work behind the scenes. And we'll see you guys back here tomorrow.