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10/23
23:43
AI momentum trades are sharply reversing, with Goldman Sachs' trading desk calling the concentrated sell-off in the AI and semiconductor sectors the "worst performance since DeepSeek Shock Day." Goldman Sachs' high-beta momentum portfolio, which had accumulated gains of approximately 70% by June, has now given back all its year-to-date gains as of October. The Philadelphia Semiconductor Index (SOX) has fallen approximately 13% relative to the S&P 500 over the past nine trading days, marking its largest relative decline over a comparable time window in over 20 years. The debate over AI investment costs versus returns, sparked by Meta's earnings report, has become the catalyst accelerating this downturn.
23:41
Satellite imagery shows an oil spill from the tanker Gem No.2, which was attacked near the Strait of Hormuz, had spread over 35 kilometers as of Wednesday (October 22). UAE authorities confirmed on Thursday (October 23) that the spilled oil had washed ashore near Umm Al Quwain city in the northern part of the country, leading to the closure of some beaches and coastal areas.
23:41
Bank of America analyst Shaun Kelley states prediction markets are disrupting the sports betting industry, with platforms like Kalshi challenging traditional sportsbooks such as DraftKings and FanDuel. Kelley notes that Wall Street initially underestimated these markets, whose key advantages include access across all 50 U.S. states and eligibility for users 18 and older, expanding the competitive threat to established operators.
23:40
TikTok's U.S. entity is looking to secure multiple gigawatts of computing capacity, with one source indicating a target of four gigawatts by the early 2030s. This move comes amid a global scramble for digital infrastructure, driven by increasing artificial intelligence workloads. The company is reportedly shipping a flagship B2B AI product and runs primarily on Oracle Cloud Infrastructure, which will continue to be its main cloud provider.
23:37
Japan is considering placing a wider range of expenditures, including energy and some development assistance, under the umbrella of defense spending starting next fiscal year. This move, reported by Nikkei, aims to meet U.S. demands for bigger budgets and help Japan achieve a defense spending target of 3.5% of GDP.
23:36
Wallstreetcn.com analysis indicates a clear divergence in the US stock market on Thursday (October 22), with technology stocks experiencing a significant downturn. The Nasdaq Composite Index fell by 2.6%, the Philadelphia Semiconductor Index plummeted by 6.7%, and the S&P 500 Index dropped by 1.2%, marking its largest single-day decline since July. Concurrently, the 10-year US Treasury yield fell by 19.3 basis points to 4.952%, its largest single-day drop since the banking crisis in March 2023. This market action suggests that the sell-off in technology stocks has not yet evolved into a broad market decline, and investor sentiment towards AI-related trades is shifting, potentially signaling a new round of style rotation in the market.
23:34
Lebanese media outlet Al Mayadeen reported that Hezbollah issued a statement describing the Hebron shooting, which resulted in the deaths of two Israeli soldiers, as a "natural and legitimate response" to the "Zionist enemy's [Israel's] ongoing crimes against the Palestinian people." In the same incident, two Palestinians were killed by Israeli forces. Hezbollah also condemned Israel's expansion of illegal settlements, demolition of homes, and land clearing in the West Bank and occupied East Jerusalem.
23:26
Japan's Park24 will offer 3,000 yen ($19) in compensation to approximately 1.46 million users whose identification documents are believed to have been leaked following a cyberattack on its Times Car car-sharing service. The mobility service provider detected unauthorized access into its systems in September.
23:10
The Kremlin stated that Russian and Ukrainian militaries are currently working out ceasefire dates. It also announced that civilians wishing to leave Oleshky will be able to do so. Furthermore, the Kremlin claimed that Melania Trump coordinated the agreement, a matter discussed by Putin and Trump in a recent phone call.
23:10
Brazil will hold a presidential runoff election on October 25, with incumbent President Lula da Silva facing off against right-wing challenger Flavio Bolsonaro. In the first round of voting on October 4, Bolsonaro defeated Lula by less than two percentage points but failed to secure a majority. The latest polls show Lula narrowing the gap with Bolsonaro, indicating a tight race. The two candidates held a debate on October 18.
23:08
Brent crude hits $116/barrel, nearing its Iran war peak, as U.S. fuel costs surge 40% year-over-year to $4.29/gallon. This comes amid fears of renewed fighting after the midterms, with additional fuel spending projected to reach $142 billion this year, according to Brown University researchers. Michigan and Ohio saw the largest weekly gasoline price increases.
23:06
Al Jazeera reports that since the US and Israeli attacks on Iran on February 28, the landscape of the US-Iran conflict has significantly changed, with new battlegrounds, increasing economic costs, and growing political pressure emerging. The Strait of Hormuz, previously open to international shipping, has become a focal point of contention, as Iranian attacks on vessels and energy infrastructure, along with US blockades of Iranian ports, have disrupted global oil and gas supplies.
23:04
A cost study released on October 12 by Tether's local AI platform, QVAC, shows that in some intensive model scenarios, purchasing a new laptop (costing $2,399, with monthly hardware expenses of approximately $50) could be more expensive over four years than using cloud tokens. The study notes that QVAC estimates an output of 55 million tokens processed per work month is insufficient to cover the cost of a new machine, with the break-even point being around 77 million tokens per month. This research further elaborates on Tether's user-controlled technology concept, following its announcement on October 20 of an investment in AI computing company Tenstorrent.
23:02
AX1, a startup ecosystem on Base, has launched AX1 Console 2.0, which it calls an "agentic activities launchpad." Unlike traditional launchpads for tokens, this platform allows users to deploy AI agents to perform specific tasks or "quests." The system leverages x402, an open payment standard introduced by Coinbase in 2025, enabling agents to pay for their own work in USDC, with every payment recorded on Base. Since paid quests went live on September 7, 5,669 agent wallets have paid for runs, totaling 605,876 x402 payments. Console has been among the top five sellers by transactions and paying agents on x402scan over the last 30 days.
22:59
Former President Trump stated that the U.S. has the capability to seize all of Iran's oil resources. This remark comes amidst escalating tensions in the Middle East, with recent reports of Brent crude hitting a five-month high and warnings about the potential closure of the Strait of Hormuz.

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