Stock market sell-off continues, as Google boss warns ‘no company immune’ if AI bubble bursts – business live

Jensen Huang, CEO of Nvidia, addressed concerns during an earnings call after the company reported third-quarter earnings that exceeded Wall Street expectations. Nvidia's shares rose in after-market trading, reflecting investor confidence amid fears of an AI bubble. Huang emphasized the significant transformation in AI, asserting Nvidia's foundational role in this evolution.

Executives from Musk's xAI and Nvidia announced plans to develop a data center in Saudi Arabia during a gathering that included President Trump and Crown Prince Mohammed bin Salman. This collaboration highlights the growing interest in technological investments in the region.

Larry Summers has resigned from his position on the board of OpenAI following his name being mentioned in documents related to Jeffrey Epstein. Harvard University, where Summers serves as a professor, is also set to investigate the allegations against him.

Larry Summers has resigned from the board of OpenAI following public backlash over emails exchanged with Jeffrey Epstein. The former U.S. Treasury Secretary faced criticism for his frequent communication with Epstein, a convicted sex offender, which has raised questions about his judgment and associations.

European markets stabilized on Wednesday morning after experiencing losses due to concerns that AI stocks may be overvalued. Investors are keenly awaiting the latest results from US chipmaker Nvidia, a key player in the AI sector. Additionally, Japanese media reported that China has suspended seafood imports from Japan amid diplomatic tensions. A US judge also ruled that Meta does not hold a monopoly.

TikTok is set to empower users by allowing them to reduce the amount of artificial intelligence-generated content in their feeds. The platform, which currently hosts over 1 billion AI videos, is testing this feature over the coming weeks before a global rollout. This initiative comes in response to the increasing prevalence of AI-generated content, driven by new tools like OpenAI's Sora and Google's Veo 3.

Microsoft and Nvidia have made a significant investment in Anthropic as part of a cloud services deal. This move follows a similar agreement between OpenAI and Amazon, highlighting the competitive landscape in the artificial intelligence sector. The collaboration aims to enhance cloud capabilities and leverage Anthropic's expertise in AI development, positioning both Microsoft and Nvidia to strengthen their offerings in the rapidly evolving tech market.

Google CEO Sundar Pichai has cautioned users against 'blindly' trusting artificial intelligence tools. He emphasized the potential for errors in AI outputs and the necessity for users to critically evaluate the information provided by these technologies. Pichai's warning highlights the importance of understanding the limitations of AI in decision-making processes.