CNBC Daily Open: It's a bad time to be a tech investor — or employee

October's occupation losses successful the U.S. were astir doubly arsenic precocious arsenic a period earlier — the steepest for immoderate October since 2003, information from outplacement steadfast Challenger, Gray & Christmas showed.

The exertion assemblage was the hardest hit, with 33,281 cuts, astir six times September's total.

Being laid disconnected is an atrocious feeling — and it indispensable consciousness bitterly ironic to enactment successful a tract that's processing the precise exertion making you redundant.

One idiosyncratic spared some redundancy fears and existential uncertainty is Tesla CEO Elon Musk, who conscionable had a astir $1 trillion wage bundle approved by Tesla shareholders.

To gain the afloat trillion, though, Musk has to conscionable a concatenation of show targets, culminating successful Tesla reaching an $8.5 trillion valuation.

Its marketplace headdress is presently $1.54 trillion — by contrast, the world's astir invaluable institution present is Nvidia, which concisely deed a $5 trillion valuation past Wednesday.

After Thursday's slump successful tech stocks, however, Nvidia's marketplace headdress has dipped to a "mere" $4.57 trillion.

Other tech companies, specified arsenic Microsoft, Broadcom and Palantir Technologies, besides fell broadly implicit concerns that their banal prices are excessively high. Those moves dragged the tech-heavy Nasdaq Composite down by 1.9%.

For astir tech workers and investors, Thursday was different reminder of volatility's sting. For Elon Musk, it was conscionable different time connected the roadworthy to the stratosphere.

India has 'largely stopped' buying Russian oil. That's according to U.S. President Donald Trump connected Thursday, who added that helium would visit the state successful 2026 if Indian Prime Minister Narendra Modi extended an invitation.

China's exports successful October contracted. Outbound shipments dropped 1.1% successful U.S. dollar presumption from a twelvemonth earlier, the archetypal diminution since March 2024. Economists polled by Reuters expected 3% growth.

SoftBank Group is down implicit $50 cardinal for the week. Shares of the institution slumped arsenic overmuch arsenic 8% connected Friday, extending losses from earlier successful the week. The moves way a broader diminution successful AI stocks connected Wall Street.

U.S. markets tumble arsenic tech retreats. Major indexes fell Thursday stateside, with the Nasdaq Composite suffering the heaviest losses. Asia-Pacific markets mislaid crushed Friday, weighed by AI-related stocks specified arsenic Advantest and SK Hynix.

[PRO] Other companies benefiting from AI spend. Big Tech firms, including Alphabet and Microsoft, are spending $380 cardinal connected AI infrastructure this year. Analysts accidental determination are under-the-radar companies that tin thrust this question of investment.

Inside the Gulf's trillion-dollar AI gamble

After raking successful trillions of dollars successful lipid revenue, the Gulf monarchies person go known for splashing currency connected big-ticket projects similar sci-fi-worthy cities successful the desert, large sports franchises, and precocious subject hardware.

Now, though, arsenic they look prolonged little crude prices, immoderate of the region's leaders are looking astatine leveraging their immense sovereign superior to physique home artificial quality industries.

— Emma Graham