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The S&P 500 and Nasdaq hit fresh records buoyed by tech and AI sector gains, notably from AMD after its landmark deal with OpenAI. Despite the ongoing U.S. government shutdown, markets remain resilient with safe havens like gold nearing $4,000. Japan’s Nikkei surged on political developments, while volatility persists amid trade and political tensions.
OpenAI and AMD deepen AI infrastructure collaboration with a multi-billion-dollar chip deal, giving OpenAI a potential equity stake and challenging Nvidia’s market dominance. This partnership marks a significant evolution in the AI computing power race.
800 million – Weekly active users of ChatGPT, as reported by OpenAI CEO Sam Altman.
U.S. government shutdown stalls key operations, intensifying political stalemate with failed funding bills and looming mass federal layoffs, while financial markets and essential programs feel the strain.
President Trump escalates National Guard deployment conflicts, facing multiple lawsuits from states like Illinois and Oregon, with legal rulings blocking troop placements amid growing political tension.
Bari Weiss Named CBS News Editor-in-Chief after Paramount Buyout
Paramount’s acquisition of The Free Press and appointment of Bari Weiss as CBS News editor-in-chief signals bold media leadership moves with potential editorial realignment.
More on fastcompany.com
Bari Weiss’s acquisition by Paramount and subsequent appointment as CBS News editor-in-chief signals a potential rightward shift in legacy media editorial direction under new corporate leadership.
Trump administration expands tariff policy, announcing a 25% duty on medium and heavy truck imports starting November 1, intensifying trade tensions and impacting global auto sectors.
Government Shutdown Enters Second Week Amid Stalemate
Federal impasse drags on with no funding deal in sight, risking mass federal layoffs and significant disruptions in government operations.
More on theweek.com
Japan’s ruling party elects ultra-conservative Sanae Takaichi as new leader, boosting investor optimism and sending Nikkei to record highs, amid expectations for continued fiscal stimulus and policy shifts.
OpenAI continues to expand its developer ecosystem, launching a new app SDK and enabling ChatGPT users to access third-party apps like Spotify and Zillow directly within conversations.
Supreme Court prepares to hear major cases on presidential powers and voting rights; FCC and EU regulators intensify oversight of tech and crypto firms; U.S. imposes new tariffs on medium and heavy trucks starting Nov 1.
Samsung faces a UK lawsuit alleging unfair smartphone chip royalties, reflecting growing regulatory scrutiny over dominant tech companies’ pricing practices in consumer electronics.
Gold hits record highs, nearing $4,000 per ounce amid U.S. government shutdown and global uncertainty, as investors seek safe-haven assets amid economic and geopolitical tensions.
The demand for AI computing power is large enough for multiple chip companies to win.
— Brad Gerstner, Altimeter Capital
The U.S. Supreme Court commences a consequential term focusing on landmark cases involving presidential powers, voting rights, and social justice issues, portending significant shifts in legal interpretations.
Tesla teases an upcoming product announcement with cryptic social media videos, fueling investor speculation and driving shares higher ahead of the October 7 event.
Fifth Third Bancorp and Comerica announce a $10.9 billion all-stock merger, creating the ninth-largest U.S. bank and consolidating regional banking power.
OpenAI CEO Sam Altman reveals ChatGPT has surged to 800 million weekly active users and four million developers, underscoring AI’s explosive growth and broad adoption.
U.S. President Trump signals active engagement in Gaza peace efforts, promoting a 20-point plan and urging rapid agreement amid indirect talks between Israel and Hamas in Egypt.
Cryptocurrencies hit new highs with Bitcoin surpassing $125,000, fueled by strong institutional demand and bullish market flows, leading crypto assets to rally amid bullish investor sentiment.
Illinois and Chicago escalate legal challenges against the Trump administration’s deployment of National Guard troops amid ongoing disputes over federal authority and local governance.
Major tech and telecom leadership shifts, including Verizon naming former PayPal CEO Dan Schulman as new chief executive and Meta stock falling amid concerns over new AI threats.
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