AI trade selloff deepens: Nasdaq slides, chip stocks tumble on Anthropic doubts and Fed rate fears
Investors tempered Anthropic IPO valuation expectations over slowing revenue growth, deepening a global selloff in AI hardware names including Nvidia, AMD, SK H
Investing · +13 outlets
Wholesale prices surge 6.3% annually in September, biggest gain since 2022; Fed hike bets rise
The hot producer price reading keeps affordability in focus ahead of the midterms and stokes expectations the Fed could tighten again.
CNBC · +14 outlets
Stocks close higher as traders rotate out of AI and into healthcare, bonds
The Dow rose over 500 points while dropping Treasury yields and defensive sectors drew buyers fleeing the chip-led AI selloff.
MarketWatch · +14 outlets
CoreWeave credit default swaps hit distress levels as investors sour on AI debt
Rising hedging costs on CoreWeave signal strain in AI-linked credit as investors scrutinize neocloud financing.
CNBC · +5 outlets
TSMC posts record quarter but warns chip capacity is a 'fierce' battleground for AI customers
Nvidia, Apple, Broadcom and AMD are competing for limited TSMC capacity even as the foundry's profit hits a record on AI demand.
CNBC · +2 outlets
Eight states sue OpenAI over ChatGPT's alleged harms to users
A bipartisan coalition of state attorneys general alleges the chatbot harmed users, adding to legal and regulatory pressure on AI developers.
NBC News · +14 outlets
Netflix names former Disney exec Peter Rice chief content officer as Bela Bajaria exits
The content leadership change comes alongside about 1,000 job cuts, Netflix's biggest since 2022.
CNBC · +10 outlets
Bank of America fined $1.2 billion over money laundering violations
The consent order caps a regulatory action and comes as the bank reported a 17% drop in quarterly profit.
Barron's · +14 outlets
Meta launches Muse Spark Open, an open-weight AI model that runs on Macs, with Apple's help
The Apple collaboration lets the model run locally on clustered Mac Studio systems, advancing on-device AI.
CNBC · +14 outlets
FTC subpoenas OpenAI and Anthropic over recent AI safety incidents
The agency demanded documents from leading AI developers, escalating federal scrutiny of safety practices.
Axios · +14 outlets
IEA to release more than 20 million barrels of diesel as prices surge
The emergency release follows a large US crude inventory draw and Trump administration pressure on Europe over diesel stocks.
CNBC · +14 outlets
KFC switches US beverage supplier to Coca-Cola, ending decades-long PepsiCo partnership
The switch is a fresh setback for PepsiCo in the soda wars and a win for Coca-Cola in restaurant channels.
CNBC · +10 outlets
Tesla reveals next-generation Roadster after nearly a decade of delays; shares slip
Musk first showed the Roadster concept in 2017 and Tesla has missed every targeted delivery date since.
CNBC · +14 outlets
CCC Intelligent Solutions agrees to $6.1 billion take-private deal with GTCR and Elliott
The auto-insurance software firm will go private in one of the year's larger leveraged buyouts.
Reuters · +9 outlets
Harvard endowment jumps 27% to $68 billion, lifted by SpaceX as top holding
It was the university fund's strongest return since 2021, driven in part by private holdings including SpaceX.
CNBC · +2 outlets
Chevron CEO warns oil buffers that cushioned the Iran war shock have been 'drained'
The warning points to thin spare capacity and shipping costs that could keep physical oil prices elevated.
Fortune · +3 outlets
Anthropic taps METR and SecureBio to assess AI risks and safety practices
The safety-focused partnerships come as Anthropic faces investor questions about revenue growth ahead of a potential IPO.
CNBC
EU beefs up trade arsenal with powers to block Chinese imports as China guards European market
Brussels is opening a 'kill switch' tool against Chinese firms while Beijing cannot afford to lose European demand.
WSJ