Australia drafting law for AI safety regulator with power to impose significant penalties

Yesterday I wrote that Anthropic's IPO looked like a last-one-standing situation, with investors split between a $1T and a $1.5T valuation.

Yesterday I wrote that Anthropic's IPO looked like a last-one-standing situation, with investors split between a $1T and a $1.5T valuation. Now the company is shipping models and signing distribution deals as if the IPO debate were happening somewhere else.

Monday I said NVIDIA's drop looked like the market pricing a Huang-specific governance risk rather than an AI-chip demand problem.

Monday I said NVIDIA's drop looked like the market pricing a Huang-specific governance risk rather than an AI-chip demand problem. Tuesday made that read harder to argue with. Trump said he is highly unlikely to order fresh strikes on Iran if…

End-of-day recap

Wall Street rebounded as falling oil eased inflation concerns, while Nvidia fell after its board opened a probe into CEO Jensen Huang.

Wall Street extended its rebound from last week's postelection selloff on November 9, even as Nvidia moved the other way on a board probe into its own CEO. Nvidia fell 4.27% to $178.67, a $4.31 trillion market cap, after its board opened an independent investigation into CEO Jensen Huang. Huang admitted over the weekend to an affair with a woman…

Black Monday 1987: What Circuit Breakers Do and Don't Stop

Black Monday led to market-wide circuit breakers that pause trading during steep declines but do not prevent crashes.

On October 19, 1987, the Dow Jones Industrial Average lost 22.6% in a single session, the worst one-day percentage decline in its history. The index closed at 1,738.74, down from roughly 2,246.74 the previous trading session, a loss of about 508 points in six and a half hours.