Morning Scan

The AI trade is getting its first real vibe check: Broadcom's CEO compared AI investing to a casino, and chip stocks from Seoul to Memphis flinched. Separately, the people building the technology keep sorting out who gets to say what about it, from super PAC money to fired safety researchers. Crypto got liquidated, and the Gulf had a rough week for airlines.

$771M — Crypto liquidations over 24 hours as Bitcoin slid below $82,000, with $685.6M of it in long positions. (The Block)

Machines & Minds

A global chip stock sell-off deepens after Broadcom's CEO likened AI investing to a casino (paywall)

SK Hynix fell as much as 9.2% and Samsung 8.8%, a steep drop for one metaphor. (Financial Times)

DayOne raises ~$3.67B to fund its Malaysia data center expansion

Seven banks are still writing very large checks for the buildout, casino talk or not. (Reuters)

OpenAI Fires Three Safety Researchers

The stated reason is "mishandling sensitive company" information. The timing invites its own reading. (LessWrong)

The Biggest Pro-AI Super PAC Network Has Poured Millions Into Nevada Shell Companies

Leading the Future is backing pro-AI candidates on both sides of the aisle, with the paper trail routed through Nevada. (WIRED)

Epic Games reportedly pivoting to "AI first" game development model

Letting AI models write all the code for the Disney collaboration is a bold bet on a very protective IP partner. (Ars Technica)

Connected World

Bitcoin slides below $82,000 as crypto liquidations surge past $770 million (paywall)

Longs got flushed hard, which tends to happen when risk appetite and chip stocks fall together. (The Block)

CFTC's new crypto framework could face 2028 election deadline, says TD Cowen (paywall)

Rules for leveraged crypto trading may arrive just in time to become a campaign issue. (The Block)

Delta Delays Riyadh Service to March 2027 Following Airport Attacks

A route that already had safety and demand questions now has a new start date and a bigger one. (Skift)

China's Q3 smartphone shipments fell 15.4% YoY to 57.9M units, the sixth straight quarter of decline

Huawei leads with a 21% share while Apple holds 17.8% in a shrinking market. (Reuters)

Connected World

After a 10-year redemption arc, No Man's Sky is coming to the iPhone and iPad

From launch-day punching bag to pocket-sized universe: a decade-long glow-up few games get. (Ars Technica)

Driver wins $76 after ALPR led to bogus traffic stop, drug searches

A federal jury sided with the driver, and the price of a rights violation comes to roughly a nice dinner for two. (Ars Technica)