BlackRock CEO Warns: U.S. Economy Will Fall Into Recession If Data Center Construction Is Halted, National Debt Reaches $40 Trillion

Insight Beating AI News Flash: 17-year-old AI researcher Nathan Chen (Chen Guangyu) announced on October 15 that he has recently left Kimi, the AI assistant developed by MoonShot AI, after working there for less than a year. He served as co-first author of the paper "Attention Residuals" alongside Su Jianlin and Zhang Yu, and contributed to the development of Kimi’s underlying K3 architecture, though he did not disclose his reason for leaving or future plans. Four days prior, Deedy Das, an investor at U.S. venture capital firm Menlo Ventures, shared the story of another 17-year-old AI prodigy. Deedy noted that the individual was not proficient in English at age 14, taught himself AI via large language models, then interned at a top AI company for a year. Admitted to a top-10 U.S. undergraduate university, the prodigy dropped out after just two weeks, and has since received five job offers from leading AI labs in San Francisco, each worth approximately $1 million or more. Given their similar ages and AI research backgrounds, some netizens have speculated that this teen could be Nathan Chen. Before joining Kimi, Chen completed a short internship in Silicon Valley, and his LinkedIn profile shows he attended Carnegie Mellon University (CMU) from August to September this year.

According to Coingecko data, South Korean crypto exchange Upbit’s trading volume rose 78.3% over the past 24 hours, surging to $1.21 billion. The XRP/KRW trading pair topped the won market with an 11.1% volume share, while the remaining top five pairs are BTC, WAL, ETH, and USDT. South Korea’s KOSPI index closed down 454.54 points today, a 7.56% drop, ending at 5554.27. The index fell more than 9% intraday, triggering circuit breakers for the 10th time this year. South Korea’s financial regulators held an emergency meeting on the stock market in the afternoon, after which the market’s losses narrowed. SK Hynix closed down 11.06% preliminarily, and Samsung Electronics fell 9.48%.

Charu, Chief Investment Strategist at Saxo Bank, noted that the rally in U.S. stocks is highly concentrated among a small number of tech giants, posing growing risks to the broader market. If AI-related stocks weaken, it could trigger index declines, portfolio de-risking, and reduced investment in AI infrastructure. However, Charu said a pullback in the AI sector does not necessarily push the entire stock market into a bear market. If corporate earnings remain resilient and economic growth stays stable, investors may shift funds to healthcare, select financial stocks, and industrial stocks, especially those with more attractive valuations. She emphasized that the key question is whether an AI-led market pullback will cause risks to spill over to other sectors or drive fund rotation across different industries. If tech stocks weaken while the number of rising stocks in the market expands, it indicates funds are shifting between sectors; but if widespread sell-offs persist across industries, it may signal intensifying overall market risk aversion.

According to Bitget's market data, Brent crude oil has fallen more than 2.00% intraday, currently trading at $102.38 per barrel.

Whale 0x68Ef must be kicking himself. He claimed a total of 6.76M $BTW but sold them too early for $85K. Those 6.76M $BTW are now worth $13.5M. He missed out on enough money to retire!

Nasdaq-listed Hyperliquid Strategies, a HYPE treasury firm, has purchased an additional 18,000 HYPE tokens worth approximately $14.3 million. Following this acquisition, the company’s total HYPE holdings rose to 38.7 million tokens, with a current valuation of around $3.08 billion. Meanwhile, Hyperliquid Strategies’ cash holdings decreased by $8.2 million to $255.3 million.