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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
Gate上线《Behind Gate：Dr. Han》新加坡特别篇，展现Gate Money战略愿景
According to CoinWorld news, Gate has announced the launch of its documentary series "Behind Gate: Dr. Han" Singapore Special Edition, which authentically records the daily work of platform founder and CEO Dr. Han during Token2049 Singapore, covering scenes such as the launch of Gate Money, keynote speeches, media interviews, and client exchanges. The documentary shows the release process of Gate Money and reveals a clip of Dr. Han using Nvidia stock to buy coffee before his speech. He stated that Gate Money is not only aimed at traders but also hopes to serve users worldwide, and the platform needs to continue innovating to meet diversified financial needs. The film also presents warm moments of Dr. Han communicating with team members and preparing a birthday cake for colleagues. Looking ahead, Dr. Han regards Gate Money as a new mission and proposes a vision of serving approximately 500 million users over the next five years, demonstrating Gate's strategic direction of developing into a comprehensive financial services platform.
Caixin, October 23 — The UK Office for National Statistics said that retail sales growth in the latest quarter was led by automotive fuel; despite recent rises in oil prices, filling stations have now returned to monthly sales levels seen before the outbreak of the Middle East conflict.
According to a CoinWorld report, Caixin reported on October 23 that the UK Office for National Statistics said retail sales growth in the latest quarter was led by automotive fuel; despite the recent rise in oil prices, gas stations have now returned to monthly sales levels seen before the outbreak of the Middle East conflict.
The EU strengthens technological autonomy, while the UK seeks an exemption from technological sovereignty rules.
EU is pushing for technological autonomy, and the UK is concerned that this will harm the interests of its digital companies. The UK argues that its companies should be eligible to bid for contracts under the upcoming "Made in Europe" technology rules. People familiar with the matter revealed that the EU is discussing restricting contracts under the Cloud and AI Development Act to European companies, aiming to reduce reliance on non-European suppliers such as the United States. This proposal is the core content of a comprehensive "technological sovereignty" plan drafted by the European Commission, which plans to establish a tiered system for cloud computing service and software suppliers, stipulating that governments can only rely on EU suppliers when handling sensitive data. The two sides will intensify consultations on this issue and other topics before the EU-UK summit on November 20.
CalPERS trims its holdings in the Magnificent Seven and shifts toward private equity investments.
According to a report by Bijie.com citing an interview with Anton Orlich, deputy chief investment officer of the California Public Employees' Retirement System (Calpers), published in the Financial Times, the institution is reducing its exposure to large U.S. technology companies and instead increasing its exposure to private equity. According to regulatory filings, the fund cut its combined direct holdings of the Magnificent Seven U.S. stocks by 26% in the first half of 2026, including Apple, Microsoft, Alphabet Inc., Amazon, Nvidia, Meta Platforms Inc., and Tesla. Orlich said that valuations in the public equity market are elevated and highly concentrated in a small number of stocks that may underperform relatively, whereas pricing levels for private companies are more attractive and help provide protection for Calpers.
ZhenFund launches Ask AI, but with only one Markdown file.
According to CoinWorld news, ZhenFund has launched "ask ai" on its official website, allowing entrepreneurs to directly ask which teams ZhenFund has invested in, what fields it has recently focused on, and which activities are suitable for them. The implementation is quite simple: ZhenFund has compiled public information such as its investment team, portfolio companies, focus areas, entrepreneurial activities, and contact details into a bilingual Chinese-English `zhenfund.md` file. By clicking any AI entry point, the website will redirect to one of four platforms—Kimi, ChatGPT, Claude, or DeepSeek—with the prompt pre-filled, allowing the model to first read this file and then answer entrepreneurs' questions.
Guangdong's GDP grew 4.6% year-on-year in the first three quarters, the highest growth rate for the same period in five years.
According to Coin World news, [Guangdong's GDP grew 4.6% year-on-year in the first three quarters, the fastest growth rate for the same period in five years] Cailianshe, October 23 - The Guangdong Provincial Bureau of Statistics released the economic data for the first three quarters of this year. According to the unified accounting results of the regional gross domestic product, in the first three quarters, Guangdong achieved a regional gross domestic product of 11,109.077 billion yuan. Calculated at constant prices, it grew 4.6% year-on-year, 0.1 percentage points higher than the growth rate in the first half of the year. Overall, in the first three quarters, Guangdong's economic growth rate was in sync with the national level, and its total economic volume continued to rank first in the country. Based on recent years' data, this is the first time since the third quarter of 2021 that Guangdong has caught up with the national growth rate, setting the fastest growth rate for the same period in five years. The provincial statistics bureau's analysis pointed out that since the third quarter, the growth rates of indicators such as agriculture, industry, consumption, imports and exports, and residents' income in Guangdong have all accelerated compared with the first half of the year, the decline in investment has continued to narrow, the service industry has remained stable, prices have risen moderately, and the support for stable growth has continued to be consolidated. Specifically, in the first three quarters of this year, the added value of Guangdong's primary industry was 394.061 billion yuan, an increase of 4.0%; the added value of the secondary industry was 4,157.179 billion yuan, an increase of 4.9%; and the added value of the tertiary industry was 6,557.838 billion yuan, an increase of 4.5%. (Nanfang+)
Bank of Japan: Japanese banks can withstand stress from oil and AI risks
Bank of Japan says Japanese banks can withstand stress from oil and AI risks.
Bank of Japan: The financial system remains generally stable, with attention on the Middle East situation and AI investment.
Banking Circle news: The Bank of Japan stated that Japan's financial system remains generally stable, and it is necessary to continue closely monitoring the impacts of factors such as the situation in the Middle East, AI-related investment, and developments in the non-bank sector.
Upbit延长multiversx (egld)交易警示期限至2026年11月
CoinWorld news: Upbit has announced that it will extend the trading warning period for the EGLD/KRW, EGLD/BTC, and EGLD/USDT trading pairs, expected to last from November 16 to November 20, 2026. This move is due to Upbit's need to further review the follow-up measures and current status of MultiversX (EGLD).