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More →Ken Griffin Says AI Is 'Almost Certainly' in a Bubble—And Compares GPUs to Airline Seats
Ken Griffin, founder of the Wall Street giant Citadel, <a href="https://www.marketwatch.com/story/ai-stocks-are-probably-in-a-bubble-but-might-be-worth-holding-onto-says-citadels-ken-griffin-87f535ce" target="_blank" class="sc-adb616fe-0 dJryYS" rel="nofollow">said</a> Tuesday that investors are “almost certainly” in an AI bubble—though he isn’t telling them to dump their AI stocks. “What’s left in the wake of these bubbles, if we want to use that word, is often game changing for the world. And the companies that are on the other side of that bubble are the market leaders for decades to come,” Griffin said at Citadel’s Future of Global Markets Conference in New York on Oct. 20 This reaches beyond tech investors, since the AI buildout has <a href="https://decrypt.co/359175/nvidia-earnings-steady-markets-ai-spending-debate-intensifies" target="_blank" class="sc-adb616fe-0 dJryYS" rel="nofollow">underpinned equity markets</a> over the past year, so many index funds and retirement accounts hold a slice of it. A bubble is what happens when prices climb far faster than the businesses behind them can justify, until reality catches up. Citadel is a hedge fund, a private firm that invests money for wealthy clients and institutions. But the fact that it seems like a bubble isn’t <i>that</i> big a deal if you look at the big picture, according to Griffin. “Any radical transformation of our economy is generally intertwined with a bubble,” he said, recalling the internet boom and adding that he wishes he had kept his Amazon stock. The companies that emerge on the other side of a bubble tend to lead markets for decades, he argued, though he stopped short of predicting a collapse. His own firm is a case study: Griffin said AI agents, software that carries out multistep tasks on its own, cut some high-level Citadel research from weeks to a couple of hours. Griffin compared GPUs, the graphics chips that many companies use to train and run AI models, to airline seats. Both have a very low marginal cost to run, meaning the extra expense of serving one more customer is tiny, so prices can collapse once supply outstrips demand. He pointed to the telecom boom around 2000, when companies laid more fiber-optic cable than demand required and communication prices fell. He also doubted that chips five or six years old, which still earn rental rates he called extraordinary, will keep doing so for another five or six years. Buyers are getting pickier, Griffin said, sorting which jobs justify premium models from OpenAI and Anthropic and which can run on cheaper open-source alternatives, meaning models anyone can download and run on their own computers. Corporate America has been uneven at extracting value from AI, he added, with companies studying their bills from the labs and asking where the productivity is. Gartner forecasts worldwide<a href="https://www.gartner.com/en/newsroom/press-releases/2025-09-17-gartner-says-worldwide-ai-spending-will-total-1-point-5-trilli
Recursive's luxury founding team delivers its first results: letting AI participate in building AI, training a 40B model in 4 months
Coin World News: Recursive's star-studded founding team has announced the release of its first model, Flint, designed specifically for local coding agents, with approximately 40 billion total parameters and only 2.5 billion activated per pass. The team developed the model from scratch in less than four months. In May of this year, Recursive raised $650 million in funding at a valuation of $4.65 billion. All eight of the team's co-founders have notable backgrounds, including Alexey Dosovitskiy, first author of Vision Transformer; Tian Yuandong, former research director at Meta FAIR; and Tim Rocktäschel, former head at Google DeepMind. Tests published by Recursive show that Flint scores about 81% on comprehensive coding and instruction benchmarks on an M4 Pro MacBook Pro with 48GB of memory, slightly below Qwen3.8 27B's 85%, but its long-context comprehensive generation speed is nearly 7 times faster than the latter. The model weights have been released under the Apache 2.0 license.
Musk admits Tesla FSD has no leading advantage in China, seeks regulatory approval to accelerate rollout.
According to CoinWorld news, Musk acknowledged that Tesla's Full Self-Driving (FSD) has no leading advantage in the Chinese market and is actively seeking regulatory approval to accelerate its rollout. According to ITHome, Musk's timeline has been delayed multiple times: in November 2025 he said full approval would come "probably in February or March 2026," in January 2026 he changed it to "as soon as next month," and at the April earnings call he pointed to the third quarter. Now that Q3 has passed, no new target date has been given.
QQQ off-exchange short sale volume reported at 52.75%
CoinWorld US stock data: QQQ's off-exchange short selling volume accounted for 52.75% of the total that day. Compared with the same-caliber snapshot 24 hours earlier, it fell by 1.7957 percentage points; compared with the same-caliber snapshot 7 days earlier, it fell by 18.5909 percentage points.
DEX trading volume over the past 24 hours was $8.939 billion.
According to BiJie.com data: within the scope, DEX 24-hour trading volume was 8.939 billion USD, a decrease of 0.34% compared with the previous statistical period under the same methodology. Among them, the DEX trading volumes of the five monitored public chains were: Ethereum 1.279 billion USD; Solana 2.278 billion USD; BSC 1.088 billion USD; Base 970 million USD; Arbitrum 176 million USD.
OKX宣布上线8个代币，包括XACN、XAHTI、XCOST
CoinWorld news: OKX has announced that it will add 8 tokens, including XACN, XAHTI, and XCOST, to multiple services, including spot trading, with an expected official launch on October 23, 2026, at 15:00 (UTC+8). Notes: Tokenized stocks do not represent actual shareholding in the underlying company and do not carry voting rights. This product is not offered to U.S. persons (under Regulation S). The product is highly volatile, carries the risk of total loss of investment, and trading is subject to an index-based price limit mechanism.
BlackRock's Evy Hambro: Gold will continue to rise.
According to a report from Bijie Network, Evy Hambro, Global Head of Thematic and Sector Investing at global asset management giant BlackRock, said that gold will continue to rise as systemic problems such as ballooning debt, uncontrolled deficits, and currency depreciation worsen. In a recent interview, he pointed out that the global economy is currently facing a complex environment interwoven with a weak dollar, mild stagflation, and geopolitical tensions, and these factors are likely to persist. He mentioned that the bond market, especially the government bond market, has made it very clear that the situation is not optimistic: interest rates are rising, debt levels are very high, and the fiscal deficits governments need to cover each year are also growing continuously, which has brought enormous pressure on the financial system. Against this backdrop, Hambro said that physical assets such as gold are regaining favor among long-term investors.
Iran: Will not accept an agreement guaranteed only by political goodwill.
According to Iranian media reports, Major General Rezaei, Secretary of Iran's Supreme National Security Council, stated that Iran has no intention of reaching an agreement lacking safeguard mechanisms. Iran's goal is to end the war imposed upon it and no longer accept agreements that rely solely on political goodwill as a guarantee of compliance, as reported by Bijie.com.
The Starknet community has voted in favor of transitioning to an independent quantum-resistant Layer 1.
According to news from Bijie, the Starknet community, in a Snapshot governance vote, supported researching a transition to an independent quantum-resistant Layer 1 with over 93.5% of the voting power, with more than 2,800 wallets participating in the vote. StarkWare CEO Eli Ben-Sasson said the team plans to release a draft white paper in November. StarkWare noted that Starknet's cross-chain bridge and data availability depend on Ethereum, making it impossible to independently achieve full quantum-resistant security. This vote only supports conducting research; any future transition will need to be decided by a vote of STRK holders. The Starknet Foundation stated that STRK will continue to serve as the native token, no new tokens will be issued, and the bridge between Ethereum and Starknet will remain open.
Over $210 million in long positions were liquidated in the crypto market within 12 hours.
According to data from Bijie.com, over $210 million in long positions were liquidated in the crypto market in the past 12 hours, with BTC and ETH prices falling to approximately $81,000 and $2,300, respectively.