TECH DEFAULTS
Snapchat starts disabling friend-finder feature for UK children, regulator says
Ofcom said the change would make it harder for strangers to contact children on the image-sharing social media platform, one it considers among the largest and most popular online services used by children in Britain.
Bloodbath in Nasdaq, Kospi and Nikkei but why Nifty is an oasis of peace amid global rout
A global AI-led tech selloff has battered US and Asian markets, wiping out $3 trillion from S&P 500 companies. However, Indian equities are showing relative resilience as investors rotate away from crowded AI trades. Market experts believe India's lower exposure to the AI boom, attractive large-cap valuations and renewed foreign inflows could help it weather the global rout.
AI selloff hits India too: TD Power, HFCL, Sterlite, other power capex-linked stocks crash up to 15%
Indian power capex and AI-linked stocks tumbled as a global technology sell-off spread across markets, with TD Power and Thermax plunging 15% each. Concerns that US midterm election results could slow data centre expansion and AI infrastructure spending triggered sharp losses across Asian technology stocks and domestic market-linked companies.
SoftBank credit risk jumps to 4-year high as AI fears roil market
The cost of insuring against a default for tech investor SoftBank Group jumped to its highest in four years on Friday as worries about AI profitability roiled the world's financial markets.
Google sued over suicide-related AI chats on school computer
The parents of a 13-year-old girl have sued Google claiming she planned a potential suicide and funeral using its AI technology on a school-issued computer. Developers of fast-evolving AI technology are facing a litany of similar lawsuits in the US. OpenAI faces several wrongful death suits, including from the parents of 16-year-old Adam Raine, a teenager who committed suicide allegedly using methods advised by ChatGPT. Google and the startup Character.
AI bubble is coming, and there is no way out! Aswath Damodaran explains what investors should do before the crash begins
Valuation expert Aswath Damodaran believes an AI bubble is inevitable and investors cannot avoid its impact entirely. In a recent podcast, he traced the AI frenzy to ChatGPT's 2022 launch, which brought artificial intelligence into public consciousness. He explained how advances in computing power and access to vast amounts of data have transformed AI and fuelled today's enthusiasm.
Google hands schools the AI switch as learning concerns grow
Google plans to restrict access to its AI tools for K-12 students, pending administrator approval. This change follows feedback aimed at enhancing control over classroom AI usage. The company is also expanding its Guided Learning feature, which helps students solve problems systematically. Research shows mixed results regarding AI's impact on student performance and learning outcomes.
Google will cut off search access for students at schools that reject AI
The Mountain View, California, company has been facing pushback from educators, child development experts and parents over the use of its technology in schools, with the backlash heating up since it announced in August that it had turned on its Gemini chatbot for many K-12 students who use Google Classroom.
Global Market Today: Asian shares bend under AI stress; Apple earnings loom
Concerns about negative cash flow and the sheer scale of AI capex saw the cost of insuring against corporate defaults blow out last week, while gold hit a one-year low amid talk stressed investors were selling to raise money for margin calls.
In 2007, Range Fuels broke ground on a Georgia plant designed to produce 100 million gallons of ethanol a year from wood waste; by 2011, it had closed without selling any
In Soperton, Georgia, a factory built to produce biofuels closed in 2011 without selling any product. Range Fuels was supported by $156 million in federal funding but failed due to inconsistent technology performance. The cellulosic ethanol mandate established in 2007 aimed to spur a new industry but resulted in shortfalls. Despite advancements in biofuel science, government investments must match realistic technological capabilities.
3 Questions to Pressure-Test Your Priorities
Leaders today are operating in a state of “ambient urgency,” where constant change, competing priorities, and relentless demands make everything feel equally important. Traditional prioritization and time-management frameworks were designed for temporary crises and are less effective when urgency becomes the norm. Rather than trying to do more, leaders need to make fewer, better decisions by consciously choosing what to pursue, delegate, defer, or stop. Three decision-making tests can help: the Replacement Test identifies work only the leader can do, the Compounding Test prioritizes long-term value, and the Fear Test surfaces decisions being avoided. Together, they improve judgment, reduce decision fatigue, and foster healthier organizations.
Nasdaq faces $2 trillion wipeout in October as AI spending fears deepen
The wipeout would amount to slightly more than SpaceX's entire market value. The index has fallen over 5.8% so far in October as the AI trade ran into turbulence, with hyperscalers Meta Platforms, Alphabet and Amazon.com raising spending forecasts further as they race to expand AI infrastructure.
Big Tech turning to equity to raise funds for AI
Meta plans to raise up to $98 billion to fund AI infrastructure, making it one of the largest equity financing plans ever. Stocks worth only about $37.5 billion have been sold so far — which includes common stock, along with a $12.5 billion offering of mandatorily convertible preferred shares.
AI bubble bursting or just letting out air? Neoclouds may offer clues
Elon Musk has warned that over 200 neocloud companies may face significant challenges, including potential failures and consolidation. Despite high demand for AI computing capacity, rising credit costs impact the financial stability of these companies. Research firm Gartner anticipates that more than 80% of neocloud providers may cease independent operations by 2030. Tighter credit conditions could restrain excessive AI spending without affecting overall investment growth.
Nifty risks 21,500, HDFC Bank eyes ₹640, IT rally shows fatigue: Anand James
Indian equities could face another leg of weakness unless the Nifty reclaims 22,800 early next week, with the index strategist Anand James warning that a break below the 22,000–22,070 support zone could open the way towards 21,500. He also sees HDFC Bank’s long-term bullish structure as broken, with the stock vulnerable to ₹640, while the recent IT rebound appears more like a relief rally than a durable sector rotation.
Global Market: French bond selloff raises debt concerns across Europe amid social unrest
French 10-year bond yields surged above 5%, reaching a 24-year high, as fiscal deficits, political deadlock and social unrest unsettled investors. Rising borrowing costs are spreading to Italy and Belgium, intensifying concerns over eurozone debt sustainability, fiscal reforms and the region’s financial stability amid mounting economic pressures and uncertainty.
Steep bill for AI buildout punishes Meta, other tech favorites
Investors sold shares of Meta Platforms and a wealth of companies central to the AI trade, a day after Meta -- one of the so-called hyperscalers spending billions to build data centers and other infrastructure supporting the AI boom -- said it would issue a new class of shares that will help it raise funds.
Glance to be integrated by default on Android TVs in US, India, Japan in partnership with Google
Under the collaboration, Glance will transform idle TV screens into interactive shoppable storefronts across fashion, travel, food, wellness, and other lifestyle categories.
Explained: Why are credit default swaps unnerving AI investors?
Although shares in companies driving the AI boom are still among the biggest gainers on global equity markets this year, many have fallen sharply in the past few weeks, as investors reassess the cost of capital against a backdrop of rising interest rates and inflation.
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