AI, Crypto Anxiety Creates Volatile Week for Markets | Bloomberg Tech 11/21/2025

OpenAI has temporarily closed its San Francisco offices following an alleged threat from an activist who reportedly expressed intentions to cause physical harm to its employees. The warning was communicated via an internal message on OpenAI's Slack platform.

OpenAI has announced that it will retire its GPT-4o model from the API platform on February 16, 2026. This decision follows a notification sent to API customers, allowing a three-month transition period for applications still utilizing GPT-4o. While the model will be removed from the API, it will continue to be available to individual users of ChatGPT across various subscription tiers. The company considers GPT-4o a legacy system with lower usage compared to the newer GPT-5.1 series.

Canva's COO, Cliff Obrecht, discussed the company's upcoming product rollouts and leadership enhancements as it prepares for a public offering. This announcement was made during an interview with Caroline Hyde on Bloomberg Tech.

Meta is entering the power trading market to support its AI expansion, committing to long-term energy contracts to assist plant developers. This strategic move aims to bolster Meta's infrastructure as it continues to grow its artificial intelligence capabilities.

Bloomberg's Caroline Hyde reports on a turbulent week for markets driven by investor anxiety surrounding AI and cryptocurrency. OpenAI is collaborating with Foxconn to develop AI data center hardware in the U.S. Additionally, Cerebras CEO Andrew Feldman comments on the U.S. approval for advanced AI chips to be sold to the Middle East.

Foxconn and Nvidia are collaborating to establish a $1.4 billion super-computing center in Taiwan, set to be completed by the first half of 2026. This initiative marks a significant shift for Foxconn, traditionally known for phone assembly, as it ventures into advanced AI hardware development. The project will feature a 27-megawatt GPU cluster, emphasizing the growing importance of AI technology in the region.

The AI industry is increasingly resembling a single interconnected entity as major players like Nvidia, OpenAI, Google, and Microsoft form partnerships and collaborations. This trend raises questions about the implications for competition, innovation, and consumer choice in the rapidly evolving technology landscape.

Morgan Stanley recently hosted Sam Altman, CEO of OpenAI, at its Menlo Park office, marking a significant step in the bank's strategy to engage with emerging technology startups. This meeting highlights Morgan Stanley's efforts to integrate innovative technologies into its operations, particularly in the realm of artificial intelligence.