Tech stocks tumble as Amazon and Intel earnings revive AI spending fears; Nasdaq hits near three-month low
Investors are questioning whether massive AI capital spending by hyperscalers will pay off, after weak guidance from Intel and Amazon's record cash burn.
BBC · +14 outlets
Google value plunges about $500bn as AI search summaries hit ad revenue
The stock fell to a six-month low after Google signaled that AI Overviews-style search results are weighing on advertising revenue.
BBC · +10 outlets
Binance loses $6.3B in record crypto heist; North Korean hackers blamed
Tracing firms suspect the TraderTraitor group breached a Binance employee laptop, marking the largest crypto theft on record.
TechCrunch · +9 outlets
Intel heads for worst day in over 50 years on weak guidance; Dell, AMD and Nvidia also slide
Intel's soft outlook and a PC slump dragged chip peers down, deepening the broader AI-led selloff.
24/7 Wall St. · +4 outlets
Amazon says it will start selling its AI chips to other companies in 2027
The move would pit Amazon's in-house silicon against Nvidia and AMD in the merchant AI accelerator market.
24/7 Wall St. · +14 outlets
Amazon Q3 results show AI demand outpacing supply but slowing growth and record cash burn
Analysts point to AWS demand exceeding supply while capital spending and free cash flow come under pressure.
Yahoo Finance · +13 outlets
Apple acquires agentic data engineering startup Ascend.io
The deal, disclosed under EU Digital Markets Act reporting rules, adds AI agents for automating data collection and analysis.
9to5Mac · +6 outlets
Anthropic's IPO prospectus raises questions over revenue and compute risk
The filing for one of the most anticipated listings leaves open how Anthropic will fund and scale its compute needs.
CNBC · +14 outlets
John Ternus defines his focus as Apple CEO; more than 25 new products shipped in two months
Profiles of the new CEO describe a product-first leader as Apple launches a wave of devices in his first months.
9to5Mac · +12 outlets
Wikimedia Foundation weighs in on NYT case against OpenAI, warns for the open web
The foundation argues that an extreme ruling in either direction could threaten open access to information online.
Engadget · +1 outlets
Reddit goes logged-in only as Google AI search squeezes traffic; stock plunges
Reddit is restricting access in response to declining referral traffic from Google's AI-generated search results.
Reuters · +9 outlets
Meta settles with teen during trial over claims social media caused depression and eating disorders
The settlement comes mid-trial in a case testing whether platforms are liable for harms to young users.
Reuters · +10 outlets
Microsoft's 60,000-person buyout offer hints at a smaller workforce with more equipment
The scale of the offer signals Microsoft expects AI tooling to substitute for a substantial share of human labor.
Fortune · +7 outlets
UK CMA opens investigation into Meta's terms for publishers and advertisers
The regulator will examine whether Meta's platform terms give it an unfair advantage over content and ad partners.
Reuters · +14 outlets
Meta, TikTok and X lose UK court challenge to Ofcom online safety data demands
London's High Court rejected the platforms' case against the regulator's authority to demand safety-related data.
The Next Web · +14 outlets
China denies report of spy operation targeting Nvidia CEO Jensen Huang
Beijing rejected allegations that a China-linked executive close to Huang was suspected of passing information.
BBC · +12 outlets
Pope Leo XIV calls for the disarmament of AI, saying machines are tools, not persons
In a papal address, Leo XIV urged UN member states to guide, change, or reject AI applications they deem harmful.
The Verge
South Korea fines Google and Apple $47.6m over app store payment rules
The regulator said the companies forced developers onto their own payment systems and must now allow external payment links.
The Next Web