Morning Scan

The AI trade is still running hot on the hardware side, with ASML saying demand outruns supply for two more years, while at least one strategist is trimming tech exposure. In adjacent sectors, private capital wants to go public, crypto wants to be a bank, and Apple wants to be your living room.

$250M — Nvidia's five-year compute commitment to UK agentic AI safety research, delivered as access rather than cash. (The Next Web)

Connected World

AI demand to exceed supply for 2 more years, says ASML (paywall)

Europe's most valuable company says TSMC and Intel are reporting "very, very strong demand," so the chip bottleneck is not clearing soon. (Financial Times)

Apple HomeView, The New Apple TV, The App Story

Ben Thompson asks how big the market is for expensive devices running subpar AI, and whether they are a product or a placeholder. (Stratechery)

Welcome Home: Everything Apple Announced on October 13

No event, just a drop of HomeView, HomePod mini 2, and a refreshed Apple TV, with more October announcements rumored to follow. (MacRumors)

Cerebras CEO pushes back on AI doomsday warnings

Andrew Feldman's message to AI leaders issuing apocalyptic warnings is essentially "maybe stop talking." Feldman sells chips. (TechCrunch)

Connected World

General Atlantic plans IPO at up to $10bn valuation (paywall)

The private capital firm wants public-market money to fund an expansion aimed at keeping pace with Blackstone and Apollo. (Financial Times)

Crypto exchange Kraken owner to buy European bank (paywall)

Payward is buying Lithuania's Saldo Bank. The fastest route from crypto exchange to "broader financial services company" still runs through a banking license. (Financial Times)

Galderma to Acquire ZO Skin Health for $1.5 Billion

Blackstone and the Obagi family cash out of medical-grade skincare, a category that keeps looking recession-resistant. (Business of Fashion)

Topgolf saved over $11.3 million after leaving VMware

Broadcom's pricing would have raised Topgolf's VMware costs 400 percent, and the exit is now a case study in how to avoid it. (Ars Technica)

Machines & Minds

US defense companies and startups have signed at least 13 deals with Taiwanese hardware companies since September 2025 to build a secure drone tech supply chain (paywall)

Building China-free drones in Taiwan fixes a supply-chain problem and carries its own geopolitical footnote. (Wall Street Journal)

Justice Department says North Koreans have infiltrated dozens of US companies

Sanctioned hackers are increasingly recruiting Americans as facilitators, which makes the remote-hire interview more consequential. (TechCrunch)

Anthropic asks the full appeals court to rehear its Pentagon case

After a 2-1 ruling upheld the Pentagon's designation, Anthropic is asking the full D.C. court to take another look. (The Next Web)

Open letter: Geoffrey Hinton, Yoshua Bengio, and over 400 scientists call for an international body to oversee AI containment standards and incident reporting

The heavyweights want an international overseer with incident reporting, a counterpoint to the Cerebras "stop talking" camp. (Reuters)

Connected World

Martin Shkreli livestreamed himself violating lifetime pharma ban, FTC says

A lifetime ban from the pharma industry apparently does not cover the stream you broadcast yourself, and the FTC noticed. (Ars Technica)