Market Overview - On November 4, US stock indices experienced a broad decline, with the Nasdaq dropping over 2% and the Dow Jones, S&P 500 falling by 0.53% and 1.17% respectively [2][4] - The total market capitalization of six major tech giants decreased by approximately $450 billion, equivalent to about 32 trillion RMB [4] Technology Sector - The US Technology Seven Index fell nearly 2%, with Tesla down over 5%, Nvidia nearly 4%, and other major companies like Google, Amazon, META, and Microsoft also declining [4] - Apple was the only major tech stock to close in the green [4] Commodity Market - International gold and oil prices saw a collective decline, with gold futures and spot prices both dropping over 1%, falling below $4000 per ounce [5][6] - NYMEX crude oil futures and ICE Brent crude oil futures decreased by 1.10% and 0.94% respectively [5][6] Future Outlook - Analysts from Huatai Securities suggest that the recent performance of US stocks indicates a critical juncture, with a focus on high-quality large-cap stocks amid concerns of market bubble [4] - The outlook for gold prices suggests a potential phase of consolidation due to a lack of clear upward factors, while oil prices may face downward pressure if supply reduction expectations are not met [7]

People Inc. signs an AI licensing deal with Microsoft, which will use its media content in Copilot. https://t.co/BJcWoHlgl0 ...

People Inc., one of the largest media publishers in the U.S., has signed an AI licensing deal with Microsoft. The media giant (formerly known as Dotdash Meredith) made the announcement Tuesday as a part of parent company IAC’s third-quarter earnings. Under the deal, People Inc. will become a launch partner in Microsoft’s publisher content marketplace. This is the company’s second AI deal following its earlier agreement with OpenAI last year. People Inc. CEO Neil Vogel described the new marketplace as “e ...

Core Insights - People Inc. has signed an AI licensing deal with Microsoft, becoming a launch partner in Microsoft's publisher content marketplace, marking its second AI deal after the agreement with OpenAI last year [1][5] - The new marketplace is described as a pay-per-use model where AI companies can compensate publishers for their content on an a la carte basis, with Microsoft's Copilot being the first buyer [2] - People Inc. reported a significant decline in traffic from Google Search, which dropped from 54% two years ago to 24% in the last quarter, impacting the company's overall performance [4] Company Strategy - CEO Neil Vogel emphasized the importance of being compensated for content, stating that the company is satisfied with either the pay-per-use or all-you-can-eat model [5] - People Inc. has criticized AI companies for using media content without payment, specifically calling out Google for its practices [6] - The company has implemented technology from Cloudflare to block AI crawlers, which has led to more negotiations and content deals with AI companies [7][8] Financial Performance - People Inc. reported a 9% growth in digital revenue, reaching $269 million in the quarter, driven by performance marketing and licensing, which grew by 38% and 24% respectively [9]

Market Overview - U.S. equities faced a significant downturn on November 4, 2025, with all three major indexes closing in the red, particularly the tech-heavy Nasdaq Composite, which led the declines [1][2] - The S&P 500 fell 1.2% to 6,771 points, while the Dow Jones Industrial Average decreased by 0.5% or approximately 238 points to 47,085, and the Nasdaq Composite dropped 2% to 23,348 [2] - The Cboe Volatility Index (VIX) surged 10% to 18.9, indicating increased investor apprehension amid concerns over valuations and a potential market correction [2] Economic Data and Events - The ongoing U.S. government shutdown is delaying key economic data releases, increasing focus on private sector data [3] - The ADP employment report is anticipated, which may provide insights into hiring trends following a dip in September [3] - The ISM Manufacturing PMI declined to 48.7 in October from 49.1 in September, marking the eighth consecutive month of contraction [4] Corporate Developments - Palantir Technologies (PLTR) saw a significant decline of 7.9% despite surpassing analysts' forecasts for sales and profit, raising concerns over high valuations [5] - Nvidia (NVDA) fell 4%, and Microsoft (MSFT) dipped 1%, reflecting growing concerns about the sustainability of the AI rally [5] - Uber Technologies (UBER) slumped 6.3% despite reporting better-than-expected financial results [5] - Yum! Brands (YUM) rose 6.1% after announcing strong quarterly results and considering selling its Pizza Hut unit [5] - Kinross Gold Corporation (KGC) reported robust third-quarter results, including record free cash flow and an increase in share buyback target and dividend [6] Earnings Announcements - Advanced Micro Devices, Inc. (AMD) is expected to report a 27.63% year-over-year increase in earnings per share [10] - Arista Networks, Inc. (ANET) is forecasted to see a 14.04% increase in earnings per share [10] - Axon Enterprise, Inc. (AXON) plunged 20% in after-hours trading following a Q3 earnings miss [10] - Digital Turbine (APPS) surged 22% in after-hours trading after reporting its FY 2026 Q2 earnings [10]

Core Viewpoint - The current stock market exuberance, particularly driven by artificial intelligence (AI), raises the question of whether this enthusiasm is rational or irrational, especially in the context of historical market behaviors and valuations [2][12]. Market Performance - The S&P 500 increased by 2.3%, the NASDAQ rose by 4.7%, and the Dow gained 2.5%, marking a record-breaking month despite government shutdowns affecting many Americans [1]. Historical Context - The article draws parallels between the current AI-driven market and past market exuberance, notably referencing the dot-com bubble of the late 1990s, where the NASDAQ index rose from approximately 1,300 in 1996 to over 5,100 before crashing [2][3]. - The NASDAQ index currently stands at 23,000, representing an 18-fold increase since Greenspan's "irrational exuberance" speech in 1996, suggesting that past market corrections do not negate long-term growth [3]. AI Market Dynamics - The AI wave began publicly with the release of ChatGPT in November 2022, leading to a more than doubling of the NASDAQ index in under three years, although such rapid growth is not sustainable indefinitely [4]. - The internet era saw online users grow to five billion, while AI is expected to reshape various sectors, including medicine, logistics, and entertainment, at an accelerated pace [4][8]. Valuation Comparisons - Current valuations of major tech companies, such as NVIDIA (57x P/E), Apple (36x), and Microsoft (36x), are elevated but not at the extreme levels seen during the dot-com bubble, where many tech stocks traded at over 100x earnings [13][8]. - The S&P 500 has a forward P/E ratio of 22.8x, significantly lower than the levels observed in 2000, indicating a different market setup [8]. Productivity and Employment - AI is enhancing productivity, which may lead to workforce reductions, as seen with Amazon's announcement of 14,000 layoffs despite strong financial results [11]. - This trend reflects innovation cycles where technology displaces certain tasks but ultimately creates new industries and roles [11]. Investment Perspective - The current AI-driven market exuberance is viewed as being in the early stages of a long-term revolution, with some areas showing frothiness that could pose risks [12]. - A disciplined, diversified, and valuation-sensitive investment strategy is recommended to navigate the current market environment [12].

ASX today – With the Reserve Bank’s Melbourne Cup day “hold” call now locked in (as it was always going to be), and earnings season wrapped up, Australian shares are now drifting without any real market drivers on Wednesday.Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.For this morning, that means a +0.14% gain, as the ASX 200 looks to peel itself away from a six-week low it’s been sagging towards sinc ...

IREN Limited (NASDAQ: IREN), a Bitcoin (BTC) mining and AI cloud company, signed a $9.7 billion GPU cloud services contract with Microsoft (Nasdaq: MSFT) on Oct. 3. Related: Explained: What is sustainable Bitcoin mining? IREN co-founder and co-CEO said, “We’re proud to announce this milestone partnership with Microsoft, highlighting the strength and scalability of our vertically integrated AI Cloud platform." Microsoft's business development and ventures president Jonathan Tinter said, “Together with IRE ...

Dividend ETFs come in all shapes and sizes, with estimated yields ranging from 0.68% to 6.68%, expense ratios from 0.05% to 1.24%, and weighted market caps from $1.7M to $1.7T. You can find dividend ETFs with forward P/E's as low as 9.47x, well-established ones that have paid dividendsThe Sunday Investor is focused exclusively on U.S. Equity ETFs. He has a strong analytical background, has received a Certificate of Advanced Investment Advice from the Canadian Securities Institute, and has completed all the ...

iren just secured $9.7b from microsoft for gpu hosting. trades at 3x ev/ebitda. equinix does the same thing at 18x. cipher mining rallied 15% on the news because the market finally realized bitcoin miners own 200mw power infrastructure that ai companies need yesterday. 5x repricing incoming. ...