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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
Nokia partners with ICEYE and Ukraine's Ministry of Defence to develop satellite communication capabilities
CoinWorld news: Nokia has announced a partnership with ICEYE and Ukraine's Ministry of Defense to develop sovereign satellite communication capabilities. The collaboration aims to strengthen Ukraine's communications capabilities and ensure communication security at critical moments.
RBC: If Democrats sweep both chambers in the midterm elections, AI regulatory risk could push US Treasuries higher.
Coin World news: RBC Capital Markets strategists Blake Gwinn and Izaac Brook said in a Thursday report that if Democrats win back both chambers of Congress in the midterm elections, U.S. government debt could rise, as increased AI regulation may accelerate a market shift toward risk aversion. However, they are not highly confident about yield curve moves under that scenario, because safe-haven buying could be offset by fiscal concerns under a Democratic majority. The strategists also pushed back on the core logic that "Democrats pose a risk to the AI trade": Trump's pro-AI stance will limit Democrats' influence in Congress, the two parties differ on AI, and AI regulation is currently concentrated mostly at the state and local levels. If Democrats win back the House while Republicans hold the Senate, a safe-haven-driven moderate U.S. Treasury rally could occur, increasing pressure on Trump to end the Iran war while eliminating the fiscal risk premium for the remainder of Trump's second term. If Republicans hold both chambers, that is a tail risk and could be bearish for U.S. Treasuries due to the risk-on AI backdrop and continued fiscal expansion.
The long-short account ratio for SOL perpetual contracts is 2.66.
CoinWorld data: The SOLUSDT 4-hour long-short account ratio is 2.66, with more net long accounts than net short accounts. Compared with the same-caliber snapshot 24 hours ago, it rose by 0.3221; compared with the same-caliber snapshot 7 days ago, it rose by 0.1885.
Attacks on airports will not stop the Yemeni people and their armed forces from ending the Houthi threat.
CoinWorld news, Yemeni President Alimi: The attack on the airport will not stop the Yemeni people and their armed forces from ending the Houthi threat.
The long-to-short account ratio for ETH contracts is 3.35.
CoinWorld data: The ETHUSDT 4-hour long-short account ratio is 3.35, with more net long accounts than net short accounts. Compared with the same-caliber snapshot 24 hours ago, it rose by 1.0777; compared with the same-caliber snapshot 7 days ago, it rose by 0.4793.
Tether announces that USDT will be natively issued on the Bitcoin network next month.
Tether has announced that its stablecoin USDT will be natively issued on the Bitcoin network next month. Currently, the stablecoin has more than 720 million users worldwide.
According to The Wall Street Journal: U.S. officials say President Trump called SpaceX (SPCX.O) CEO Musk, asking him to lift restrictions on Starlink in Ukraine.
According to the Wall Street Journal, citing U.S. officials: U.S. President Trump once called SpaceX (SPCX.O) CEO Musk, asking him to lift restrictions on Starlink in Ukraine.
U.S. Central Command: Today marks the 100th day since U.S. Central Command forces resumed the "Steel Wall" maritime blockade against Iran.
CoinWorld news, U.S. Central Command: Today marks the 100th day since U.S. Central Command forces resumed the "Steel Wall" maritime blockade against Iran. This operation has helped prevent Iran from exporting at least $25 billion worth of crude oil and has limited the ability of Iran's Islamic Revolutionary Guard Corps to fund proxy militias, criminal networks, and terrorism. Apart from humanitarian aid permitted by U.S. forces, Iran has conducted no exports or imports by sea.
Bitcoin's market dominance has broken above 60%, hitting a new 5-month high.
CoinWorld data: According to Bitcoin Magazine, Bitcoin's market dominance has surpassed 60%, the highest level in the past five months, with new capital continuing to flow into the Bitcoin market.