The rotation is real, and so are the opportunities beyond data center stocks.
The AI trade has broken down. How we got here and what investors should expect next
Source: CNBC
Original reporting
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The Guardian
Crypto ‘scammers on overdrive’ as Binance customers pull billions from accounts after $6.3bn hack – business live
Rolling coverage of the latest economic and financial news Yi He, co-founder of Binance, has said that its top priority is to “ensure the environment is secure, after which users can withdraw their funds and Binance can resume operations.” She rejected comparisons with collapsed rival FTX , writing on X: Every action has a motive. Look at some fraudulent exchanges that absconded, P2P platforms, and commercial banks: their ledgers are opaque; once the website is shut down, they simply abscond with the funds, the company is liquidated or goes bankrupt, and all they need to do is give you an arbitrary excuse. As for how much money was actually in the account and where it went, there is no way to know. These kinds of closures happen without any warning—they just disappear. There is no real operation, no one comes out to explain what happened, and it is even less possible for withdrawals to b
The Guardian
UK’s largest brickmaker hit by sales slump as housebuilding downturn deepens
Ibstock, which has cut production by a fifth, criticises government for delay in help for housing sector Sales at the UK’s largest brickmaker plunged by more than a fifth over the summer, as it criticised the government for not introducing fresh help for the housing sector faster. Leicestershire-based Ibstock said on Monday that sales slumped by 22% below its expectations in the quarter to the end of September, prompting it to slash production levels by a fifth. Continue reading...
CNBC
Fake nuclear warnings in Ukraine as Moscow, Kyiv report separate cyberattacks on emergency apps
Russia and Ukraine both report cyberattacks on their alerting systems, as strikes continue across the countries.
CNBC
OpenAI deepens Abu Dhabi foothold as Sam Altman inks deals spanning energy, government and investment
OpenAI signed four Abu Dhabi agreements spanning energy, government and investment as Sam Altman met the emirate’s crown prince.
CNBC
U.S. crude falls below $100 amid reports of U.S.-Iran diplomatic efforts
Oil fell Monday, amid news that both the U.S. and Iran are pursuing diplomacy amid ongoing Mideast tensions
The Guardian
Prediction market bettors are the new political pundits. Why are we listening to them? | Judith Levine
Sites like Kalshi and Polymarket offer faux populism as elites reap the benefits – and voters risk being misled Online betting is a bit like Donald Trump. The prediction markets – platforms where users bet on whether events will occur – pretend to be populist, pushing the nabobs aside and representing the “wisdom of the crowd”. “This data is bottom-up, not elites-driven,” a Kalshi spokesperson told Reuters . But in fact, the markets are controlled by a few, skillful traders. Continue reading...