📉 Nasdaq loses $2 trillion in October over AI fears

🍎 Apple CEO says it won’t ship AI for AI’s sake

💰 OpenAI cuts funding target from $30B to $20B

⚖️ Judge allows pollution lawsuit against xAI

🏺 China’s next archaeologists: AI and robots

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The Nasdaq 100 shed more than $2 trillion in market value in October, sliding over 5.8% by the 30th, as investors questioned whether Big Tech’s AI spending can pay off fast enough.

Meta, Alphabet and Amazon all raised their AI spending forecasts again. Alphabet posted its worst day ever, dropping about 13% on weak search ad sales, while Meta’s $97.5 billion stock-sale plan sparked dilution fears.

Microsoft bucked the gloom with results showing its AI spending is starting to pay off. With JPMorgan forecasting $5.5 trillion in global AI spending by 2030, investors now want receipts, not roadmaps.

In an October 30 interview with Wired, new Apple CEO John Ternus said the company doesn’t “want to ship AI for AI’s sake,” pushing back on claims that Apple has fallen behind rivals in AI.

Ternus took over as CEO on September 1, after years of criticism over Apple’s delayed Siri upgrade. He says Apple will “absolutely” use AI, but the goal is products people love, not AI for show.

Asked whether AI agents might make apps obsolete, Ternus called building products “deeply human.” Still, Apple’s revamped Siri outsources much of its brainpower to Google’s Gemini, so the AI part isn’t exactly homegrown.

OpenAI reportedly slashed its latest funding target from $30 billion to $20 billion ahead of its planned IPO, after earlier reports suggested valuations ranging from $1.25 trillion to $1.4 trillion.

The Wall Street Journal says OpenAI has secured just $11 billion so far, while UAE investors will lead the round. A later offering targeting wealthy individuals could help close the gap.

The timing looks rough as investors grow wary of massive AI infrastructure spending, triggering a tech stock selloff. Even OpenAI seems to be discovering that AI hype doesn't guarantee investor enthusiasm.

A federal judge rejected xAI’s bid to dismiss an NAACP Clean Air Act lawsuit accusing it of running dozens of unpermitted gas turbines in Southaven, Mississippi, to power its Colossus 2 data center.

xAI argued the turbines count as exempt “mobile sources” and that citizen lawsuits like this one are unconstitutional. Judge Debra Brown rejected every argument, shortly after denying a similar dismissal bid from the Justice Department.

Déjà vu for xAI: it removed unpermitted turbines from its first Colossus site after an NAACP legal threat in 2025. Now the same groups are back, just one state line south.

China’s 2026–2030 archaeology plan will combine AI, ancient DNA analysis, and deep-sea robots to reconstruct artifacts, investigate shipwrecks, and trace human migrations across East Asia and beyond.

Researchers plan to train AI to match broken artifacts, deploy underwater robots along historic trade routes, and study ancient populations, while China develops new archaeological laboratories and international partnerships.

The blueprint also aims to strengthen China’s cultural influence worldwide. But even deep-sea robots can’t manufacture missing evidence; the real test is whether researchers uncover findings that hold up to scrutiny.

A) Yes - 83% 🏆

B) No - 17%

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