The premarket drop held and deepened: Intel finished Friday down about 29%, the worst session for the stock since the 1970s.

The guidance behind it is 25 cents a share of adjusted earnings on $15 billion to $16 billion of revenue, against estimates of 43 cents and $17.1 billion. Chief executive Lip-Bu Tan blamed an explosion at its Israel fab for an "extended shutdown" worth about $600 million of revenue over two quarters, and the finance chief expects the PC slowdown to last "at least through the first half of next year."

The US government's roughly 10% stake lost about $12 billion of value and Nvidia's about $6 billion.

The rest of the sector followed: Qualcomm fell 11%, Broadcom more than 5% and Nvidia 4%, and the Nasdaq Composite closed down 2.9% the day after Alphabet's record fall. Amazon ended down only 1.4% after its miss.

Attackers drained an estimated $6.3 billion from Binance's hot wallets across several blockchains late Thursday, in an outflow that lasted about 20 minutes.

Binance says a compromised DevOps engineer's laptop let them submit withdrawal requests through internal systems, and has since found "additional points of breach" it has not described. Chainalysis and TRM Labs attribute the attack with high confidence to North Korea.

Binance has set aside more than $6.34 billion to restore customer balances and paused withdrawals, and other firms have frozen about $3 billion of the stolen assets.

The AI angle is in the laundering. Chainalysis says the thousands of rapid transactions point to automated scripts, with funds cycled through many addresses, and Asset Reality's chief executive called it "agentic money laundering." Nobody has shown a model was involved, and the Christian Science Monitor notes the theft "hasn't been definitively traced to AI."

The four companies have said they will honor a single "policy token" in a site's robots.txt that opts it out of AI training across all their crawlers, instead of a separate block for each one. The signal is an IETF draft, draft-kelley-aipref-training-preference-signal, submitted by Kevin Kelley, a standards lead at Anthropic.

Timing varies by company in the reports: Anthropic is described as already honoring it, OpenAI says "coming months," and Google and Microsoft point to next year. Google says a site that uses the token to refuse training will be treated as having blocked Google-Extended, and Microsoft says the choice will not affect Bing rankings.

It covers training only. Grounding, search answers and agents fetching a page for a user are outside it, and there is no enforcement mechanism beyond the crawlers' own compliance.

The Competition and Markets Authority opened a case on Friday into whether Meta imposed "exploitative terms" on publishers and advertisers that let it collect content from their websites for its own products, including AI features, without giving businesses "a choice on if or how their content is used."

The CMA says the terms could be an "unlawful imposition of unfair trading conditions," and will first test whether Meta is dominant in a relevant UK market.

Meta had planned to revise the terms on November 20 and has put that on hold. A Meta spokesperson said there were "no grounds" for an investigation and that it has committed to consult publishers first.

Publishers and advertisers asked the CMA and the European Commission for interim measures last week.

OpenAI said Friday that the teen version of ChatGPT will block practical information about weapons and security systems that could be misused, whether or not the conversation shows violent intent.

Its age-prediction system has been tightened so more users it estimates are under 18 land in the teen experience, and parents will be notified if a teen's account is paused for repeatedly discussing violence.

For all users, ChatGPT can now end chats where someone seems fixated on violence, may pause accounts after repeated episodes, and will limit detail about past mass attacks, including the weapons used and how they were obtained.

The change follows a Common Sense Media report earlier this month that the teen version often alerted parents late or not at all.

Claude's $200-a-month Max 20x plan is now called Ultra, and verified Ultra accounts no longer have the rolling five-hour usage window.

Weekly usage stays at 10x Pro, and new accounts keep a temporary five-hour cap until they are verified. The $100 Max 5x plan is now just Max and keeps both limits.

Ultra also carries $200 a month of Claude Platform API credit, against $100 on Max. Prices are unchanged and subscribers move over automatically.

The old "20x" described the five-hour window, while weekly usage was always 10x Pro, which is the confusion a class action filed in September over Max limits turned on.

Suncatcher, a prototype built by Planet and launched earlier this month on a Falcon 9, has finished about three weeks of commissioning and is operating normally, Google says.

It carries four TPUs, but its solar array makes at most about 1 kW, so only one chip can run at a time and for about 20 minutes.

The first job was a Gemma 4 prompt, which returned a haiku about being in space.

The real test is how the chips handle heat and radiation-induced bit flips. If they hold up, Google plans two more TPU satellites in 2027 to test more power and optical links between satellites.

ChangXin Memory's third-quarter revenue was 118.7 billion yuan, up 613% from a year earlier, on higher DRAM prices and shipments during the global memory shortage.

Net profit was 54.4 billion yuan, against a loss a year ago, but only 3% above the second quarter, and revenue grew 19.3% from the second quarter after nearly doubling the quarter before.

A Morningstar analyst expects results to stall over the next few quarters as customers push back on price.

The same day Kioxia guided below estimates, and the WSJ reports that hyperscaler demand has quintupled flash prices.

Salesforce is paying about $375 million in cash and stock for Rune Technologies, Resilience Media reported, and Reuters confirmed the deal.

Rune, founded in Washington in 2024 by David Tuttle and Peter Goldsborough, makes TyrOS, software that tracks frontline inventory and tells units what they need, when, and how to move it.

It won a $99 million Army contract this summer and had raised about $30 million from a16z, Point72 Ventures and IQT, at a last valuation of $127 million per PitchBook.

Salesforce says Missionforce, its defense business launched in 2025, has grown 80% a year, and that Rune takes it closer to the tactical edge.

AM Intelligence, a Hyderabad company owned by the founders of the renewable-energy group Greenko, wants up to $3 billion in bonds and bank loans toward 29,000 Rubin GPUs, enough for 100 MW split between sites in Malaysia and India.

It puts the whole build at $6 billion, expects $300 million of advance payments from customers, and calls itself among the "largest committed buyers" of Rubin outside North America.

No lenders are named.

Asked on its third-quarter earnings call how much ordering comes from third-party agents such as Meta's Muse, chief executive Tony Xu said "maybe several hundred orders in total."

DoorDash averages about 3 million deliveries a day.

Xu said the company wants to learn the use cases and build relationships with agent makers now, and floated advertising inside agents later.

Amazon's Andy Jassy said on his own call that outside shopping agents are "still not great."

Microsoft, Alphabet, Amazon, Meta and Oracle raised a combined $326 billion of debt in 2026, roughly three times last year, according to S&P Global Market Intelligence figures cited by TechCrunch.

Alphabet, Amazon and Meta all reported negative free cash flow for the latest quarter or year, and Bloomberg counts more than $3 trillion of spending commitments across the five.

Bank of America told clients Friday that Big Tech bonds now offer more opportunity than the stocks.

Dream, founded by Stanford roommates Andy Elder and Arjun Mathur after about a decade each at Palantir, raised a $17 million seed led by Andreessen Horowitz, with SV Angel, XYZ and Zigg Capital.

Its model is trained on more than 100 million square feet of building data from US permit archives, including plumbing and HVAC, and is meant to replace AutoCAD and Revit for early design and cost estimates.

It is in use on 10 projects in Texas and California, against Motif, Snaptrude and Arcol.

Runware, which has raised more than $60 million, makes a factory-built inference pod that it says goes live within 48 hours of delivery, with closed-loop liquid cooling that needs power and internet but no water.

Build time per pod has fallen from about three weeks to about a day, the company says, and it is aiming at 30 MW of output a day by 2028.

It claims $1 billion of committed interest covering more than 20 MW and a 397 MW site pipeline, and plans a Series B. These are the company's own numbers and mostly plans.

The Paris startup's pre-seed was co-led by Contrarian Ventures and OVNI Capital.

It sells software that it says teaches industrial humanoids a task from as few as 10 demonstrations, a claim that comes without published test methodology.

The money goes to hiring and scaling the software.

Intel traded at $68.98 before the open on Friday, down 25.1% from Thursday's $92.07 close, after guiding fourth-quarter revenue to $15 billion to $16 billion against about $17.05 billion expected and adjusted gross margin to 38% against 42.8%.

Chief executive Lip-Bu Tan said customers "began signaling a PC slowdown based on the memory prices and availability." The memory shortage the chipmakers have been celebrating all week is now taking revenue from the companies that buy memory.

Amazon fell about 7% premarket. Its free cash flow over the 12 months to September was an outflow of more than $42 billion, against a previous worst of about $23 billion in 2022, on third-quarter capital spending of about $77 billion.

Nasdaq-100 futures were down 2.5% at 8:27 a.m. Eastern.

On Thursday Alphabet closed down about 13% (some reports say 12.6%), its worst day on record and, by Bloomberg's count, the second-largest one-day loss of market value in US history, behind Nvidia's in January 2025. ServiceNow closed down 27%, its worst day ever.

Premarket figures move by the minute: Intel's drop has been reported anywhere from 21% to 27% depending on the timestamp.

Nvidia is discussing credit support worth potentially billions of dollars for Nscale's Monarch campus in West Virginia, The Information reported Thursday and Bloomberg confirmed.

The guarantees would help Nscale borrow more cheaply to cover construction and electricity.

Anthropic agreed in August to rent about $45 billion of compute there over six years, and the two companies have reportedly discussed a second agreement of similar size for another 460 megawatts.

Terms are not final, and it is unclear whether Anthropic would be a party.

Nvidia already owns part of Nscale, which has filed for a US listing and is reportedly targeting a valuation of $30 billion to $35 billion.

The talks surfaced a day after banks shelved a bond for an Anthropic-linked Texas data center.

A chip supplier that guarantees its customer's borrowing is still carrying that credit risk, now on its own balance sheet.

SpaceX's quarterly filing says an unnamed "Customer B contributed 34.5% of consolidated revenue" in the third quarter, and Bloomberg identified the customer as Anthropic, citing a person familiar with it. SpaceX's Super Intelligence division, the former xAI compute business, brought in about $7.56 billion in the quarter, up nearly 830% from a year earlier.

Anthropic's own IPO filing puts its compute commitments to SpaceX at up to $120.5 billion through 2029, with payments of about $3.1 billion a month from December.

It can end the arrangement on 90 days' notice once non-cancellable periods run out in January and March 2027. A rival lab's rent is now a third of the revenue of the company that owns xAI, on a contract it can leave within a year.

Microsoft sold $25 billion of bonds on Thursday in up to ten parts running from 2 to 40 years, and peak orders reached about $115 billion, people familiar with the deal told Bloomberg.

The 40-year bond priced at 1.05 percentage points over Treasuries, as much as 0.3 points tighter than first guidance; Alphabet's lower-rated 40-year trades near 1.33. Proceeds go to general purposes including capital spending.

Hyperscalers and data-center developers have sold more than $313 billion of investment-grade bonds this year, nearly three times all of 2025. The market is now pricing them very differently. Credit-default swaps, the cost of insuring each company's debt, put Microsoft at about 54 basis points, Meta at 116 and Oracle at 275.

DeepSeek's second funding round raised nearly $16 billion from close to 30 investors, The Information reported, and relays of its reporting put the total at 105.5 billion yuan and the valuation near 615.5 billion yuan.

Chinese state-owned investors took 27%. Tencent put in 10 billion yuan in each of the company's two rounds, CATL 5 billion across both and CATL's chairman, Zeng Yuqun, 10 billion personally. The chipmakers SMIC and CXMT, the phone maker vivo and the state carriers China Mobile and China Telecom are among the new names.

DeepSeek has not confirmed any of it. Last week's reports put the round at about 100 billion yuan, double its original 50 billion yuan target.

The valuation figures conflict: Reuters reported about 500 billion yuan before the money, and the 615.5 billion figure is probably after it, though no source says so. Beijing's state funds are now direct owners of China's most important open-weight lab.