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More →Ken Griffin Says AI Is 'Almost Certainly' in a Bubble—And Compares GPUs to Airline Seats
Ken Griffin, founder of the Wall Street giant Citadel, <a href="https://www.marketwatch.com/story/ai-stocks-are-probably-in-a-bubble-but-might-be-worth-holding-onto-says-citadels-ken-griffin-87f535ce" target="_blank" class="sc-adb616fe-0 dJryYS" rel="nofollow">said</a> Tuesday that investors are “almost certainly” in an AI bubble—though he isn’t telling them to dump their AI stocks. “What’s left in the wake of these bubbles, if we want to use that word, is often game changing for the world. And the companies that are on the other side of that bubble are the market leaders for decades to come,” Griffin said at Citadel’s Future of Global Markets Conference in New York on Oct. 20 This reaches beyond tech investors, since the AI buildout has <a href="https://decrypt.co/359175/nvidia-earnings-steady-markets-ai-spending-debate-intensifies" target="_blank" class="sc-adb616fe-0 dJryYS" rel="nofollow">underpinned equity markets</a> over the past year, so many index funds and retirement accounts hold a slice of it. A bubble is what happens when prices climb far faster than the businesses behind them can justify, until reality catches up. Citadel is a hedge fund, a private firm that invests money for wealthy clients and institutions. But the fact that it seems like a bubble isn’t <i>that</i> big a deal if you look at the big picture, according to Griffin. “Any radical transformation of our economy is generally intertwined with a bubble,” he said, recalling the internet boom and adding that he wishes he had kept his Amazon stock. The companies that emerge on the other side of a bubble tend to lead markets for decades, he argued, though he stopped short of predicting a collapse. His own firm is a case study: Griffin said AI agents, software that carries out multistep tasks on its own, cut some high-level Citadel research from weeks to a couple of hours. Griffin compared GPUs, the graphics chips that many companies use to train and run AI models, to airline seats. Both have a very low marginal cost to run, meaning the extra expense of serving one more customer is tiny, so prices can collapse once supply outstrips demand. He pointed to the telecom boom around 2000, when companies laid more fiber-optic cable than demand required and communication prices fell. He also doubted that chips five or six years old, which still earn rental rates he called extraordinary, will keep doing so for another five or six years. Buyers are getting pickier, Griffin said, sorting which jobs justify premium models from OpenAI and Anthropic and which can run on cheaper open-source alternatives, meaning models anyone can download and run on their own computers. Corporate America has been uneven at extracting value from AI, he added, with companies studying their bills from the labs and asking where the productivity is. Gartner forecasts worldwide<a href="https://www.gartner.com/en/newsroom/press-releases/2025-09-17-gartner-says-worldwide-ai-spending-will-total-1-point-5-trilli
Hong Kong has newly introduced 18 key enterprises, expected to bring HK$84 billion in investment.
CoinWorld news, according to a press release from the Hong Kong SAR Government, on October 22, the Office for Attracting Strategic Enterprises held a signing ceremony for strategic enterprise partners, welcoming a new batch of 18 strategic enterprises to establish or expand their operations in Hong Kong. These enterprises have a market capitalization or valuation exceeding HK$100 billion and cover multiple sectors, including advanced manufacturing, new energy, artificial intelligence, life and health technology, fintech, and cultural and creative technology. To date, the Office for Attracting Strategic Enterprises has attracted a total of 142 strategic enterprises, which are expected to bring about HK$84 billion in investment over the coming years and create around 26,700 jobs, including high-value-added R&D and management positions.
An unknown whale transferred 134 million USDC.
CoinWorld data: According to Whale Alert monitoring, an unknown whale has just transferred in 134,007,665 USDC, equivalent to approximately $134 million at the current exchange rate.
Japan's September CPI (excluding fresh food and energy) rose 2.4% year-on-year.
According to data released by the Japanese government, the consumer price index (CPI) for September 2026 rose 2.4% year-on-year after excluding fresh food and energy prices.
Cailian Press, October 23 — SpaceX said that this Starlink launch has been canceled due to weather conditions, and the next Starlink launch window is October 23.
CoinWorld news, Cailian Press, October 23 — SpaceX said it canceled this Starlink launch due to weather conditions, and the next Starlink launch window is October 23.
Japan's core CPI exceeds 2% for the first time.
CoinWorld news: Japan's core consumer price index (CPI) has risen above 2% for the first time since March. This data reflects inflationary pressure in Japan's economy and may influence future monetary policy.
Japan's September core CPI rose 2.1% year on year, compared with expectations of 2.10% and a previous reading of 1.70%.
CoinWorld data: Japan's September core CPI annual rate was 2.1%, in line with expectations, compared with the previous value of 1.70%.
The U.S. Treasury Department proposes restricting high-tech investments in China and Russia.
CoinWorld news, according to Cointelegraph: The U.S. Treasury Department has proposed a new rule to restrict American investment in artificial intelligence, supercomputing, and other high-tech sectors in China, Russia, and other "countries of concern."
Japan's core CPI rose 2.1% year-on-year.
CoinWorld data: Japan's nationwide core Consumer Price Index (CPI) rose 2.1% year-on-year in real terms, in line with expectations, compared with the previous reading of 1.7%.
Risk aversion is back, with the Nasdaq falling more than 2%.
Risk-off sentiment returned, with the Nasdaq falling more than 2%, the 10-year Treasury yield dropping below 5%, gold plunging, and crude oil surging. The number of first-time unemployment claims in the U.S. fell to 194,000 last week, a three-month low, and the four-week moving average was the lowest since 2022. After two consecutive rate hikes, the Bank of Korea held rates steady, keeping the benchmark rate at 3.00%, with the governor saying a pause does not mean the end of the tightening cycle.