Xin Lang Cai Jing·2025-11-07 06:44Market Overview - US stock market showed weakness with all three major indices closing down, with Nasdaq dropping nearly 2% [1][2] - The surge in layoffs in the US, along with concerns raised by OpenAI executives regarding government guarantees for AI companies, heightened market fears [1][3] Layoff Data - In October, US companies announced 153,074 layoffs, a year-on-year increase of 175.3%, marking the highest level in 20 years [4][24] - Total layoffs in the US this year have surpassed 1 million, the highest since the pandemic [4][24] - The current hiring plans are at their lowest level since 2011, indicating a deteriorating job market [4][24] OpenAI Developments - OpenAI's CFO suggested a need for a government-backed ecosystem to support financing for large chip investments, which raised investor concerns about a potential AI bubble [3][25] - OpenAI's CEO clarified that the company does not seek government guarantees for its data center investments and emphasized that if the company fails, it should be allowed to fail [3][25] - The CEO also projected that OpenAI's annual revenue could exceed $20 billion, potentially reaching "hundreds of billions" by 2030 [3][25] Tesla Shareholder Meeting - Over 75% of Tesla shareholders approved Elon Musk's $1 trillion compensation plan, contingent on achieving significant company milestones over the next decade [4][14] - To receive the full compensation, Tesla must reach a market value of $8.5 trillion and deliver 1 million vehicles for Robotaxi services [4][14] AI Chip Developments - Google Cloud announced the release of its seventh-generation TPU, "Ironwood," which boasts over four times the performance of its predecessor [13][24] - This new chip is expected to eliminate data bottlenecks for demanding AI models and is set to be utilized by AI startup Anthropic for its Claude model [24]