Artificial intelligence

Microsoft has dropped its deal for Nscale's Loughton site, billed as the UK's largest AI supercomputer, with 23,040 Nvidia GPUs. Grid power is the cause.

The 10-year Treasury yield is 5.19%, up 44bp since August. In the year to July, private foreign investors bought $392.3bn of US corporate bonds and $263.4bn of Treasuries.

A quarter of US finance HR staff say their firms tie raises, promotions and bonuses to AI proficiency. PwC puts the pay premium for AI skills at 62%, up from 57% a year earlier.

Nvidia guarantees $108.5bn of data-centre leases, $105bn of them for OpenAI, and holds $51.2bn of private stakes. Its filings show why it is too big to fail.

The IMF's October World Economic Outlook sees global growth of 3.1% in 2026 and 3.4% in 2027. AI investment offsets the energy shock, but inflation is rising.

Meta's Muse Wonder Full scores 56 on an independent index, behind Claude Opus 5.5 at 58 and ahead of OpenAI's best at 53. More labs at the top test safety rules.

Nvidia is in talks to buy Reflection AI or invest more in it, having already put in $800m. It is the chipmaker's latest bet on open AI models made in America.

OpenAI told investors its annualised revenue was about $50bn at the end of September, well short of the $68bn widely reported. CoreWeave fell nearly 8% and Oracle almost 6%.

Spending on US data centre construction reached an $85.0bn annual rate in August. Private building outside data centres fell 5.3%, and AI deals made up more than half of net bond supply.

The WTO doubled its 2026 goods trade forecast to 3.9%, and AI goods drove almost half the growth. The productivity gains are hard to see. The borrowing is not.

AI agents that shop for us will make the biggest platforms stronger, ING says. Amazon has blocked Meta's Muse agent, Shopify has let it in, and Amazon's ad business shows why.

The Super Intelligence Force puts Trump's spy chief, the FTC chairman and two others in charge of coordinating AI policy. It follows an industry accord.

The consultancy beat its own forecast, booked $22.2bn of new work and expects growth of 3% to 6% next year. Its shares had lost about a third of their value this year on fears that AI would shrink demand.

This year's chip rally rests on a few leaders. China is building its own chips, memory and software to replace them. Nvidia barely moved, but a DeepSeek scare cost it $593bn in a day last year.

OpenAI accused Moonshot of copying its models, and Anthropic warned that a free Chinese model can build working exploits. Both say they oppose a ban. Their rivals sell for far less.

An early independent test ties Google's new model with OpenAI's best, behind Anthropic. Google may not need to lead. It sells computing power to its rivals, and owns part of one.

Oracle, Amazon and Microsoft have cut thousands of jobs and named AI as a reason. Apple cut just over 200. John Ternus now wants fewer managers and flat headcount, and he has looked at what AI could do instead.

The smart-ring maker cited uncertainty in the market. Anthropic’s listing could be the largest ever, and companies that can afford to wait are keeping out of its way.

GPT-6.1 Astra failed OpenAI’s own safety tests on the eve of DevDay. Anthropic overtook OpenAI this spring on revenue and valuation, and hired some of the best-known researchers in the field.