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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
Aerodrome and Velodrome merge to launch Aero across seven blockchain networks.
CoinWorld data: Aerodrome and Velodrome announce merger, plan to launch Aero across seven blockchain networks.
Kobeissi: US electricity prices surge as AI boom drives demand
Benzinga reports that Kobeissi noted U.S. electricity prices are "soaring" due to demand driven by the AI boom. Meanwhile, Congresswoman Marjorie Taylor Greene questioned the "free" payments of thousands of dollars per month promised by AI companies.
Mitsubishi UFJ: The Bank of England is expected to raise interest rates by 25 basis points at its next meeting.
MUFG expects the Bank of England to raise interest rates by 25 basis points at its next meeting and again in February next year, ultimately pushing the rate up to a peak of 4.25%. As rising energy prices gradually feed through to household bills, the UK's headline inflation rate is expected to rise above 4% in the coming months. MUFG said energy prices have stayed elevated for longer than expected, with prices rising further in recent months. A stabilizing labor market, steady economic growth, and persistently high underlying inflation make it difficult for the Bank of England to ignore this shock. The bank expects UK GDP to grow about 0.65% quarter-on-quarter in the third quarter, and forecasts economic growth of 1.5% and 1.4% in 2026 and 2027 respectively, higher than the IMF's projections. Rising borrowing costs may have already compressed the UK's fiscal headroom ahead of the budget announcement to around 15 billion pounds.
OpenAI supports California's strengthening of AI safety regulation
According to The Information, a senior OpenAI official said in a letter to California Governor Gavin Newsom that the company supports requiring AI companies to implement shutdown mechanisms for their models, undergo mandatory annual independent audits, and adopt stricter cybersecurity measures. The letter, signed by Chan Park, OpenAI's head of policy and partnerships for the United States and Canada, said OpenAI "recommends strengthening SB53." The bill is California's existing AI transparency law passed in 2025, which currently requires frontier AI companies to publish safety frameworks and transparency reports and to report major safety incidents. In addition, OpenAI also supports regulations requiring companies' "safety frameworks to explicitly cover the ability of frontier models to autonomously conduct AI research and development."
ETH DVOL指数报50.48点
CoinWorld data: The latest reading of the ETH DVOL index is 50.48 points.
Spot gold fell below $4,130 per ounce, down 0.27% on the day.
According to Bijie.com, the spot price of gold has fallen below $4,130 per ounce, down 0.27% on the day.
Meta raises capital expenditure forecast, Tesla cuts outlook
CoinWorld news: Meta said in its quarterly earnings report on Wednesday that it expects 2026 capital expenditures of $135 billion to $145 billion, raising the lower end of the range from $130 billion, and plans to issue a new class of stock, with shares rising after hours. Meanwhile, Tesla lowered its full-year capital expenditure target, with third-quarter capital expenditures totaling $4.73 billion, far below analysts' expectations of $7.95 billion, and its shares fell after hours.
Trump considers military action against Iran as the U.S. withdraws some troops and diplomatic personnel from the Middle East.
According to CoinWorld news, Trump is considering new military action against Iran, prompting the United States to withdraw some troops and diplomatic personnel from its bases in the Middle East. According to NBC reports, similar situations occurred in January and February of this year, when the United States also withdrew troops from Middle Eastern bases. On February 28, the United States and Israel launched an attack on Iran, and the market reaction was significant: 1. Brent crude oil rose 27% within a week, from $73 to $93. 2. Brent crude oil reached a high of $114 on May 4, up 57% from before the attack. 3. Bitcoin fell to about $63,000 on the day of the attack, then rebounded nearly 18% within four days. Since the war began, Brent crude oil is still up 49%. Trump stated that the United States "will not attack Iran" before the midterm elections on November 3.
An unknown whale transferred 134 million USDC.
CoinWorld data: According to Whale Alert monitoring, an unknown whale has just transferred in 133,990,000 USDC, worth approximately $134 million at real-time prices.