Top Stories This Morning: Intel to Acquire Quantum Startup, DoorDash in Talks for a $17 Billion Deal

Intel has agreed to acquire Classiq Technologies, an Israeli developer of quantum computing software; the terms of the deal have not been disclosed. DoorDash is in talks to acquire rival grocery delivery service Instacart, which could be valued at approximately $17 billion. Read about these and other topics in our roundup of key events as of the morning of October 27.

U.S. chipmaker Intel has agreed to acquire Classiq Technologies, an Israeli startup that develops software for quantum computers, according to Bloomberg. The terms of the deal have not been disclosed. The transaction is expected to close in the first half of 2027.

Classiq’s technology enables the creation and testing of software for various types of quantum hardware. The startup’s clients include automaker BMW and telecommunications provider AT&T. The company has raised more than $200 million in funding and has approximately 130 employees. The acquisition will allow Intel to integrate the development of quantum processors and the software that runs on them.

The American food delivery service DoorDash is in talks to acquire its competitor Instacart, according to The Wall Street Journal, citing sources. The deal could be finalized as early as this week and value Instacart at approximately $17 billion, although a final agreement has not yet been reached.

The acquisition will allow DoorDash to strengthen its position in the grocery delivery market. Instacart specializes in online grocery orders, while DoorDash started out delivering restaurant meals. Following the news of the talks, Instacart’s stock rose by about 8%, while DoorDash’s stock fell by 6%.

HSBC, Europe's largest bank, increased its pre-tax profit by 32% in the third quarter to $9.63 billion, nearly meeting analysts' forecasts, according to CNBC. Revenue rose from $17.8 billion a year earlier to $18.6 billion, driven by growth in interest and fee income.

HSBC also announced a share buyback program worth up to $1 billion and maintained its 2026 interest income forecast at no less than $46 billion. Following the release of its earnings report, the bank’s shares in Hong Kong fell by nearly 3%.

French government bonds rose in price after Moody’s decided not to revise the country’s credit rating, maintaining it at Aa3 with a negative outlook, according to Bloomberg. The yield spread between French and German 10-year bonds narrowed by 14 basis points—the sharpest decline since 2020. The yield on French bonds fell to 4.9%.

Moody’s decision came as a surprise to investors, who had expected a downgrade. However, concerns about France’s growing public debt persist: the budget deficit could reach 5.4% of GDP this year, and the political crisis is hindering efforts to reduce it.

South Korea’s Kospi stock index rose 4.5% on Tuesday morning amid a rebound in U.S. tech stocks. The rally was so sharp that the exchange suspended algorithmic trading for five minutes. SK Hynix shares rose 7.14%, while Samsung Electronics shares rose 4.93%.

The market is recovering from a massive sell-off that caused the Kospi to lose nearly 40% from its June peak. Future trends will depend on the quarterly earnings reports from SK Hynix and Samsung, which are expected on October 28 and 29, according to Be(in)Crypto. The two companies account for about half of the index’s weight.

— Japan's broad-based Topix index rose 0.6%, while the Nikkei 225 rose 1.7%.

— Hong Kong's Hang Seng Index fell 0.6%, while mainland China's CSI 300 Index fell 0.1%.

— In South Korea, the KOSPI index rose 2.8%, and the KOSDAQ index rose 1.8%.

— Australia's S&P/ASX 200 rose 0.5%.

— Nasdaq 100 futures were down 0.4%, S&P 500 futures were virtually unchanged, and Dow Jones Industrial Average futures were up 0.1%.

This article was AI-translated and verified by a human editor