Puma shares surged as much as 16% on Thursday after reports that China’s Anta Sports is considering a bid for the struggling German athletic brand. The potential interest, which may also come from Li Ning and Asics, has reignited speculation about Puma’s future amid a challenging year for the company.

The stock has fallen more than 50% year to date, pressured by weak brand momentum, intense competition in the global sportswear market, and ongoing U.S. tariffs that have dampened consumer sentiment. The sharp rally on the takeover report marks one of Puma’s largest single-day moves of the year.

Turnaround Challenges and Ownership Roadblocks

The company has been undergoing a significant restructuring under CEO Arthur Hoeld, who took the helm on July 1. His turnaround plan includes job cuts, a more streamlined product lineup, and improvements to global marketing operations. Puma has acknowledged that recovery will take time as it works to strengthen brand visibility and better manage high inventory levels.

In late October, Puma set an ambitious goal of becoming a “Top 3 global sports brand”, despite reporting quarterly sales that declined by double digits. Management identified several headwinds: a muted brand narrative, tariff-related pressures in the U.S., and lingering excess stock across key markets.

A takeover, however, would require navigating one major hurdle – Puma’s largest shareholder, Artemis, which controls 29% of the company. Artemis, owned by the Pinault family and also the largest shareholder of luxury group Kering, has been expanding its investment footprint and taking on additional debt. Analysts note that Artemis’ valuation expectations may pose a significant obstacle to any acquisition deal.

Market Reaction

Investors welcomed the news of potential buyout interest, interpreting it as a vote of confidence in Puma’s long-term potential despite near-term operational strain. A takeover from an Asian sportswear powerhouse – particularly Anta, which has grown aggressively through acquisitions – could reshape Puma’s global strategy and accelerate market expansion in China.

However, the companies reportedly involved have not commented publicly, and no formal proposals have been made. Analysts caution that the process remains at an early stage and may not result in a transaction, particularly given Puma’s shareholder dynamics and valuation complexities.

Still, Thursday’s rally underscores how investor sentiment can shift quickly for cyclical consumer brands, especially those undergoing high-stakes restructuring while facing takeover speculation. For Puma, the coming months will reveal whether interest from Anta or other firms materializes or whether CEO Hoeld must continue steering the turnaround independently.

At 16 years old, all Zames Chew spent was 30 Singapore dollars – roughly $23 – to buy a domain name. Nearly a decade later, the Singapore-based handyman company he founded with his younger brother, Amos, generates 1.7 million Singapore dollars (about $1.3 million) in annual revenue and employs more than 20 people.

Repair.sg, a once-quiet side hustle built between classes and late-night customer messages, is now on track to reach around $2.3 million in revenue next year, according to company financials reviewed by CNBC Make It.

The path was far from conventional. The Chew brothers originally imagined white-collar careers. But a simple search for a household repair service in 2016 – and finding no reliable online options – sparked an idea that sent their lives in an entirely different direction.

How a Teen Project Became a Fast-Growing Business

The early days of Repair.sg were defined by long hours, little pay, and a DIY education in licensing and technical expertise. While still in school, the brothers fit jobs between classes, often waking up at 4 a.m. to respond to customer messages. They repaired lights, fixed furniture, and took almost any job offered.

What outsiders didn’t see, Zames says, was the substantial training behind such work. Electrical repair, plumbing, and installation services require certifications, safety protocols, and specialized knowledge – far more than “just grabbing a screwdriver.”

For seven years, the business teetered on the edge of survival. The brothers say they lacked structure, priced jobs poorly, and accepted clients they later realized they should have declined. But in 2021, they formally committed to scaling the company and chose not to attend university, pouring all their time into the business.

That decision marked a turning point. Repair.sg’s revenue accelerated, staffing expanded, and operational processes matured. What began as a side project gradually evolved into a polished, high-demand service business.

A Generation Rewrites the Blue-Collar Narrative

The Chew brothers are part of a wider trend: more young adults are looking beyond traditional white-collar paths and embracing skilled trades or entrepreneurship. Yet stigma persists. Zames recalls customers telling them directly that “blue-collar work is for people who didn’t make it.” For years, the brothers hid their business out of insecurity.

Today, those doubts have faded. Zames says the work provides clear value, generates strong income, and gives him the rare chance to build a company with his closest collaborator – his brother.

The journey reflects a broader shift happening globally: the reconsideration of skilled labor not as lesser work, but as a legitimate path to high earnings, autonomy, and long-term opportunity.

Gold prices advanced sharply on Wednesday, rising more than 1% and approaching a two-week high as fresh U.S. economic data strengthened bets that the Federal Reserve could cut interest rates at its upcoming meeting. Spot gold traded around $4,172 per ounce, its highest level since mid-November, while U.S. December gold futures rose to $4,168 per ounce.

The move reflects renewed appetite for non-yielding safe-haven assets at a time when investors are increasingly confident that slowing economic momentum will prompt the Fed to begin easing as early as next month. Lower interest rates tend to weaken the U.S. dollar and reduce the opportunity cost of holding gold, supporting higher prices.

Why Gold Is Climbing

Market participants interpreted the latest flow of U.S. data – including moderating output indicators and easing labor-market signals – as another sign the economy is cooling without slipping into recession. This combination has bolstered expectations for a rate cut, which in turn has revived momentum across the precious-metals complex.

Traders also pointed to steady physical demand in Asia and lingering geopolitical risks as additional factors underpinning bullion’s resilience. Even with recent price volatility, gold has remained elevated near record levels for much of the quarter.

What Investors Are Watching Next

As mentioned, the focus now turns to upcoming U.S. inflation data and commentary from Fed officials, both of which could either reinforce or challenge the market’s current expectations. Key questions include:

• Whether incoming data supports a December rate cut.
• If the dollar retreats further, providing additional support to gold.
• How physical demand trends evolve in China and India, two major buyers.

For now, traders say the path of least resistance appears tilted upward, with rate-cut optimism keeping gold well-bid as the year draws to a close.

China’s net gold imports via Hong Kong dropped sharply in October, signaling a slowdown in physical demand from the world’s largest bullion consumer. According to data from Hong Kong’s Census and Statistics Department, net imports fell nearly 64% month over month, marking one of the steepest declines this year.

The downturn comes as elevated global gold prices – which remain historically high – continue to weigh on retail consumption. Domestic premiums in China, typically an indicator of local demand strength, narrowed notably during the month, reinforcing signs that buyers have become more cautious.

October’s numbers also reflect weaker seasonal demand compared with earlier months, when purchases tend to rise ahead of key holidays. While China still absorbs significant amounts of global bullion, the latest import slump suggests a cooling phase after months of robust buying.

Drivers Behind the Sharp Decline

The steep fall in imports was driven by a combination of high global prices, softer economic conditions, and easing retail activity. Chinese consumers have faced persistent macro uncertainty, prompting households to prioritize savings over discretionary purchases, including jewelry and investment-grade gold.

Refiners and wholesalers also reduced shipments amid weaker premiums and slower turnover. Analysts say the pullback is consistent with volatility in the global market, where bullion has struggled to find direction amid shifting expectations for U.S. interest-rate cuts.

Meanwhile, broader financial flows may have contributed to a recalibration of China’s import patterns, particularly as authorities manage currency pressures and ensure stable liquidity conditions.

What Market Participants Are Watching Next

The focus now shifts to whether physical demand rebounds in late Q4 and early 2026. Key signals include:

• Movement in Chinese gold premiums, which could indicate restocking.
• Shifts in global bullion prices, especially if rate-cut expectations strengthen.
• Potential import normalization, as refiners adjust inventory strategies.

A sustained decline in Chinese demand would have broader implications for global bullion markets, given China’s outsized role in physical gold consumption.

Nvidia shares fell on Tuesday after reports indicated that Meta is in discussions to spend billions of dollars on Google’s AI chips. The development sparked concern that one of Nvidia’s largest GPU customers may begin diversifying its AI infrastructure, potentially reducing long-term reliance on Nvidia’s industry-leading accelerators.

The report suggested that Meta is evaluating Google’s custom AI chips as part of a broader plan to build a more resilient supply chain. Any move of this scale would mark a significant competitive advance for Alphabet, which has been intensifying efforts to challenge Nvidia’s dominance in the AI computing market.

Nvidia, which has benefitted from unprecedented demand for its H100 and Blackwell chips, saw its stock decline as investors weighed the possibility of shifting procurement patterns among top tech firms.

Why Meta’s Interest in Google Chips Matters

Meta is one of the world’s largest buyers of Nvidia GPUs, investing heavily each year to support its AI models and data-center expansion. A pivot toward Google’s custom silicon – even partially – would send a strong signal that major platforms are seeking alternatives amid soaring costs and supply constraints.

Google has spent years developing its Tensor chips, but landing Meta as a commercial customer would represent its most meaningful hardware win to date. Such a partnership would validate Google’s chip roadmap and could inspire other hyperscalers to explore additional sourcing options.

This comes as tech giants increasingly pursue dual-sourcing strategies to avoid supply bottlenecks and reduce dependency on a single vendor – particularly as AI workloads scale into the trillions of parameters.

How the Market Could Shift

Nvidia’s stock pullback underscores investor sensitivity to signs of rising competition. Markets will be watching for:

• Official confirmation from Meta and Google, which could further shift expectations.
• How much of Meta’s infrastructure might transition to Google chips – full deployment vs. targeted workloads.
• Nvidia’s commentary in upcoming earnings, particularly regarding long-term demand visibility.
• Reactions from other hyperscalers, including Amazon, Microsoft and Oracle, which are also developing or adopting custom AI chips.

If Meta begins allocating billions toward Google hardware, Nvidia’s revenue concentration risk becomes more visible – even as demand for its accelerators remains strong.

Gold prices fell this week after the U.S. posted a surprise jobs gain that bolstered expectations of a delayed interest-rate cut. Spot gold dropped about 0.9% to $4,039.86 per ounce, putting it on track for a weekly decline of roughly 1%. U.S. gold futures for December delivery slid around 0.6% to $4,035.60. The U.S. dollar strengthened, making gold more expensive for non-dollar buyers.

The U.S. Labor Department reported non-farm payrolls increased by 119,000 in September – more than double the 50,000 consensus forecast – reinforcing the view that the Fed may hold off on further easing. Traders now assign just around a 39% chance of a rate cut next month, down from significantly higher levels earlier this year.

Rates, Dollar Strength and Bullion Pressure

Gold, a non-yielding asset often used as a hedge against low-rate environments, faces headwinds when yield-bearing assets become more attractive. The stronger dollar and firm employment data suggest the Fed could delay easing, making safe-haven gold less compelling.

Fed officials, including Chicago Fed President Austan Goolsbee, have expressed unease about front-running rate cuts amid stubborn inflation, adding to the caution among investors. Meanwhile, weak physical demand in major Asian markets further weighed on bullion’s appeal.

What Investors Should Watch

Now eyes turn to upcoming inflation data, further labor-market readings and Fed commentary. A delayed or absent rate cut in December could keep pressure on gold, while any sign of renewed dovishness would offer bullion a catalyst for revival.

Market watchers should also monitor positioning in gold-backed ETFs and central-bank buying flows: sustained support here could cushion downside even as macro odds shift. For now, gold appears stuck in a consolidation phase until stronger signals from policy or demand emerge.

Elon Musk has ignited a fresh wave of speculation about Tesla’s humanoid robot strategy after posting a new video showcasing multiple Optimus units performing an array of real-world tasks. The clip features robots acting as construction workers, medical staff, police officers, kitchen assistants, martial artists and even poker players. Musk offered no commentary alongside the footage, leaving analysts and observers to interpret the message.

pic.twitter.com/fuMMpDolr9

— Elon Musk (@elonmusk) November 21, 2025

The post arrives amid Musk’s repeated claims that Optimus could reshape labor markets by taking over routine physical work. He has previously argued that humanoid robots could eliminate poverty by enabling a universal high income through ultra-high productivity. The latest video appears intended to reinforce the scale of that vision.

Growing Ambitions for Tesla’s Robotics Program

Musk has long framed robotics as one of Tesla’s most important long-term growth drivers, stating that Optimus could ultimately surpass all other divisions in value. According to earlier comments, he expects future robots to perform tasks ranging from manufacturing to healthcare support, serving as general-purpose labor in households and workplaces.

Reports have also suggested that Tesla is preparing to ramp up development substantially. Outlets such as Wired have previously indicated that Musk aims to begin producing large numbers of robots as early as late 2026, positioning Tesla for mass deployment once the technology matures. The new video supports the narrative that Tesla is accelerating real-world testing and public messaging.

The range of roles depicted – spanning safety, service, construction and entertainment – signals that Tesla is positioning Optimus not merely as a factory assistant but as a multi-sector platform. This aligns with Musk’s stated goal of building robots capable of understanding and acting across complex, dynamic environments.

Economic, Market and Workforce Implications

The rise of humanoid automation has significant implications for global labor markets. If Tesla succeeds in deploying Optimus at scale, industries such as logistics, healthcare support, security services and food preparation could see rapid transformation. Economists note that such technology could increase productivity but also raise questions about job displacement and income distribution.

Investors are watching closely. If a commercially viable Optimus emerges, it could reshape Tesla’s revenue mix, potentially expanding the company beyond automotive and energy into industrial robotics – a sector expected to grow sharply as companies automate to cut costs and fill labor shortages.

Still, major uncertainties remain. The capabilities shown in promotional videos don’t necessarily reflect readiness for mass deployment. Safety, regulation, costs and real-world reliability remain major hurdles. Analysts say Tesla must demonstrate consistent performance outside controlled environments before Optimus can scale meaningfully.

As Musk continues to preview the future of humanoid automation, the latest video serves as both a signal of ambition and a reminder that the competition in AI-driven robotics is intensifying.

Deutsche Bank has made a notable return to the precious-metals market, reviving its gold-trading business and posting significant earnings after having largely withdrawn in recent years. The bank’s metals-trading desk generated well over $100 million in revenue during the first half of the year, driven by arbitrage opportunities in bullion markets, insiders said.

This performance places Deutsche Bank among the select few global banks actively competing in gold trading once again, standing alongside long-time market-makers in a segment marked by heightened volatility and structural change.

Strategic Re-Entry in Bullion Markets

The resurgence marks the bank’s intention to rebuild its role after nearly a decade away from the front line of bullion dealing. Traders at Deutsche cited tariff-driven supply dislocations and elevated volatility as favourable conditions for metals arbitrage. The bank’s re-entry into gold comes at a time when demand for safe-haven assets is elevated and global hedge flows are increasing.

Metals trading is part of the bank’s broader strategy to diversify its trading revenue streams and reduce reliance on traditional banking income. The return to gold also signals confidence in the metals market’s structure and the ability to leverage Deutsche’s existing institutional infrastructure.

Implications for Markets, Metals & Banking

Deutsche Bank’s successful comeback carries important implications for the metals market and the global banking sector alike. For the bullion market, the re-activation of a major player means deeper liquidity, narrower spreads and potentially more efficient global price discovery.

For banking, it highlights how financial firms are recalibrating business models to capture returns in legacy asset-classes as interest-rate and credit markets evolve. Observers note that Deutsche’s decision may encourage other large institutions to re-evaluate metals desks previously cut after regulatory and profitability pressures.

Bullion investors should watch closely how this increased supply-side activity influences gold-price action going forward. The arrival of new liquidity and trading capacity could alter the dynamics of how gold reacts to macro triggers such as inflation data or central-bank policy shifts.

The move underscores that metals trading remains a strategic frontier for banks seeking differentiated revenues – particularly in an era of compressed margins elsewhere.

Eli Lilly & Co. has become the first health-care company in history to surpass a $1 trillion market valuation, driven by extraordinary demand for its GLP-1 diabetes and weight-management drugs. The milestone places the 148-year-old pharmaceutical firm alongside the world’s most valuable technology companies, signaling a major shift in market leadership.

Lilly’s shares rallied to new highs before modestly easing, reflecting investor conviction that its obesity- and diabetes-treatment franchise represents one of the strongest growth engines in global health care. The achievement caps a multiyear transformation in which the company evolved from a traditional drugmaker into a dominant force in metabolic medicine.

Weight-Loss Drug Boom Drives Record Valuation

The surge in Lilly’s valuation stems from explosive sales of its GLP-1 therapies, which have reshaped both medical practice and consumer demand. Recent quarterly revenue from the company’s leading treatments exceeded $10 billion, making them one of the fastest-growing pharmaceutical categories on record. Total quarterly revenue climbed to $17.6 billion, underscoring the franchise’s outsized contribution.

Industry analysts expect the global obesity-drug market to approach $150 billion by 2030, with Lilly projected to capture a substantial share. Ongoing development of an oral formulation and expanded access programs continue to strengthen the company’s long-term growth outlook.

As a result, Lilly is now viewed not merely as a pharmaceutical producer but as a cross-industry disruptor – one whose growth dynamics mirror those of major technology companies.

Implications for Investors and Sector Dynamics

Lilly’s entry into the trillion-dollar club signals a structural shift for both equity markets and the health-care sector. For investors, it marks a rare moment in which a pharmaceutical company – not a tech firm – leads global market-cap rankings.

The milestone heightens expectations for flawless execution. Continued momentum will require sustained clinical success, regulatory approvals, and expansion of manufacturing capacity to meet global demand. Any slowdown could trigger rapid valuation resets.

Lilly’s rise is also expected to intensify competition across the weight-loss drug category, encouraging rivals to accelerate development, pursue acquisitions, or strengthen partnerships to keep pace.

As previously covered in related market analyses, the company’s strategic overhaul – expanding R&D capacity, scaling production, and refocusing its pipeline – laid the groundwork for this ascent. Today’s valuation milestone reflects the culmination of that long-term repositioning.

Singapore is intensifying its push to revitalize its equity market through a groundbreaking partnership with Nasdaq that will allow companies to dual-list in both the United States and Singapore using a single regulatory framework. The initiative, called the Global Listing Board, targets firms with market capitalizations above SG$2 billion (about $1.5 billion), offering simplified access to capital across two major financial hubs.

The new framework is designed to harmonize listing requirements, streamline disclosure obligations, and enable companies to use one consolidated set of documents for approval on both exchanges. The system is expected to be fully implemented by mid-2026.

Leaders from both exchanges described the partnership as a major step in expanding cross-border liquidity. Nasdaq CEO Adena Friedman said the bridge is “the first of its kind,” offering firms global exposure through a unified regulatory experience. SGX CEO Loh Boon Chye noted that dual listings across time zones will improve near 24-hour price discovery, helping investors manage risk more effectively.

Nasdaq and @SGXGroup announced a partnership to simplify dual listings in the U.S. and Singapore creating a harmonized framework that bridges the two markets. Learn more about the new Global Listing Board: https://t.co/nCHHz9dbPp pic.twitter.com/M2tvfn6VjV

— Nasdaq (@Nasdaq) November 20, 2025

Broader Reforms to Strengthen Singapore’s Market

The partnership comes as the Monetary Authority of Singapore (MAS) rolls out a series of measures to enhance the attractiveness of the local stock market.

These steps include a SG$30 million “Value Unlock” program designed to help companies strengthen strategic planning, optimize capital structures, and improve investor relations. MAS also announced it would allocate an additional SG$2.85 billion to six Singapore-based asset managers – building on a SG$1.1 billion injection earlier this year -to deepen the country’s fund management ecosystem and encourage participation in local equities.

Market activity has already started to pick up. MAS reported that average daily turnover in the third quarter of 2025 rose 16% year over year to SG$1.53 billion, the highest level since early 2021. Small- and mid-cap stocks have seen particularly strong momentum, and IPOs have raised more than SG$2 billion so far this year.

Analysts say the reforms are well-timed but caution that challenges remain. CGS International noted that Singapore’s liquidity still lags behind larger markets like the Nasdaq, which could limit the near-term impact of dual listings. Goldman Sachs added that the success of the “Value Unlock” initiative will depend on clear guidelines and sustained corporate action – pointing to Japan and South Korea, where tax incentives and stricter governance reforms led to significant market re-ratings.

Implications for Global Companies and Investors

If successful, the Singapore–Nasdaq bridge could reshape cross-border listings for Asia-based firms seeking global investor reach without navigating fragmented regulatory systems. The new framework may also attract multinational companies with operations in both regions, offering flexibility to raise capital in U.S. dollars or Singapore dollars.

For investors, the ability to trade the same company across two exchanges increases access, liquidity, and the potential for nearly continuous price discovery.

The initiative underscores Singapore’s broader ambitions: to position itself as a top-tier equities hub at a time when global capital is searching for markets with stability, regulatory clarity, and diversified funding channels.

Google has introduced Gemini 3, a next-generation AI model that marks one of the company’s biggest leaps in artificial intelligence. Positioned as a major competitive advance, Gemini 3 is designed to outperform leading models across core capabilities such as reasoning, mathematical analysis, technical explanation, programming, and multimodal problem-solving.

According to Google’s launch materials, the model is not simply a chatbot upgrade. Instead, Gemini 3 behaves like a full production tool, capable of interpreting complex datasets, generating dynamic visualizations, building software assets, and transforming user inputs from images to handwritten notes into complete, functional solutions.

The release intensifies the competitive landscape in advanced AI, with Google directly challenging entrenched leaders in the enterprise and developer segments.

A Multimodal Engine Built for Creation

Gemini 3’s headline feature is its ability to turn virtually any input into a production-ready output.

Users can provide images, PDF files, video clips, diagrams, rough sketches, or mixed assets, and the model can generate:

• full websites
• mobile and desktop apps
• interactive demos
• animations
• 3D models
• working codebases
• stylized visual prototypes

Demonstrations show Gemini 3 converting a single image into a playable game, building an app interface from a paper sketch, and creating data visualizations tailored to specific analytical questions.

The system also processes full video, allowing it to break down athletic performance, identify mistakes in technique, and recommend adjustments – a capability that highlights Google’s investment in multimodal understanding.

Search tools have been upgraded as well, enabling dynamic simulation environments, interactive learning modules, and engineered visual layouts created on demand. Google highlighted its ability to walk users through complex concepts such as three-body motion using custom-generated simulations.

Implications for Developers, Consumers, and Enterprise Workflows

The company is positioning Gemini 3 as a foundational engine for productivity across industries.

For travel planning, Gemini 3 can generate customized multi-day itineraries with real-time constraints and user preferences. In demonstrations, it built an optimized three-day Rome itinerary that included activities, travel paths, and scheduling logic.

For professional workflows, users can upload entire project directories – containing documents, images, spreadsheets, workflows, and datasets and the model will identify structure, evaluate context, and regenerate content based on new goals or requirements. This includes rewriting documents, restructuring frameworks, and re-architecting project plans.

For developers, Gemini 3 goes beyond code completion. It translates high-level ideas into full working software, complete with data models, UI flows, and runnable components. Google describes this as a shift from “AI that helps write code” to “AI that produces finished software.”

The launch strengthens Google’s push to regain leadership in the race for advanced AI adoption, particularly as enterprise customers evaluate generative AI tools for real productivity use cases.

Cloudflare shares declined on Tuesday after reports of outages affecting parts of its network and several major online services. The cybersecurity and web infrastructure company saw its stock fall 3.7% to $194.68 in premarket trading, extending a volatile stretch for the high-performing tech name.

The disruptions also impacted X, the social media platform owned by Elon Musk. According to outage monitoring data, thousands of U.S. users reported issues early in the morning, with more than 5,600 reports filed as of 6:51 a.m. ET. The platform experienced login failures, feed-loading errors and intermittent timeouts, though service remained partially functional for some users.

At this stage, it is not clear whether the outages at X and the issues reported by Cloudflare stem from the same underlying problem. Neither company immediately responded to requests for comment.

Cloudflare, which provides network security, content delivery, and edge computing services, has historically been a critical backbone for many digital platforms. Outages tied to its infrastructure – even partial ones – can ripple across the broader internet ecosystem. Earlier incidents in past years have similarly led to widespread service interruptions across gaming platforms, financial applications, and enterprise tools.

Despite today’s setback, Cloudflare shares have been strong performers in 2025. Through the prior close, NET gained roughly 88% year-to-date, supported by demand for cybersecurity services and the expansion of AI-related cloud infrastructure.

What Caused the Disruptions?

Investigations are still underway, and early indicators suggest the issue may involve regional routing or network congestion rather than a full-scale outage. Analysts note that platforms like X often rely on a mix of internal systems and third-party infrastructure providers, making it difficult to trace the source quickly.

Given the simultaneous timing of the disruptions, markets are watching closely for clarification. Even brief outages can lead to heightened volatility for companies whose valuations depend heavily on reliability and uptime.

Investors may also focus on whether Cloudflare experiences lingering impacts to customer contracts or whether this proves to be a contained technical event.

Market Reaction and What Comes Next

Tech infrastructure stocks tend to react quickly to any sign of service instability, and Tuesday’s decline reflects heightened sensitivity among investors.

If Cloudflare confirms the issue was isolated and resolved swiftly, the market may view the selloff as a temporary overreaction. Meanwhile, X’s downtime underscores the challenges facing platforms under heavy traffic loads – particularly those that play a central role in news distribution and communication.

Analysts expect both companies to issue updates later in the day. Investors will be looking for details on the root cause, steps taken to prevent recurrence, and any potential impact on user activity or enterprise customers.

Bitcoin’s latest sell-off intensified on Thursday, with the world’s largest cryptocurrency briefly breaking below $90,000, extending a multi-day correction driven by derivatives pressure and fading risk appetite. The slump came despite aggressive buying from major institutions and governments, underscoring growing tension between short-term market fragility and long-term bullish conviction.

More than $1 billion in leveraged positions were liquidated in the past 24 hours, adding fuel to the decline. Bitcoin is now trading below $92,000, while Ethereum slipped under $3,000, erasing recent gains across the broader crypto market.

Meanwhile, the probability of Bitcoin falling below $80,000 has surged to 28%, according to derivatives pricing – a sharp jump from earlier in the week.

Big Buyers Step In Despite Market Turmoil

The latest downturn did not discourage major long-term holders. MicroStrategy purchased an additional 8,178 BTC for $835.6 million, continuing its strategy of aggressively expanding its Bitcoin treasury during periods of weakness. The company remains the largest corporate holder of Bitcoin globally.

Governments are joining the buying spree. El Salvador added another $100 million in Bitcoin, doubling down on its national BTC strategy as prices retreated. President Nayib Bukele has maintained that every drawdown represents a strategic accumulation opportunity.

Even private-sector crypto leaders are signaling optimism. Gemini co-founder Cameron Winklevoss called the correction “possibly the last chance to buy Bitcoin below $90,000,” echoing sentiment among long-term bulls who view the decline as cyclical, not structural.

Forecasts Diverge: From Bearish Risks to Extreme Bullish Targets

Despite near-term turbulence, several high-profile predictions continue to point to substantial upside. Cathie Wood, CEO of ARK Invest, reiterated her thesis that Bitcoin could reach $1.3 million by 2030, driven by institutional adoption, regulatory clarity, and the maturing role of BTC as a macro asset.

More unusually, South Korean prodigy Kim Eun-Young – sometimes referred to online as “the man with the highest IQ” – predicted Bitcoin would hit $220,000 within 45 days. He claims he intends to use the profits to build churches worldwide. Though widely viewed as aspirational rather than analytical, the bold forecast reflects the degree of speculative fervor surrounding Bitcoin’s long-term outlook.

Still, the market is contending with immediate risks. The jump in downside probabilities, combined with large-scale liquidations, signals that leverage remains a key vulnerability. Traders are closely watching whether Bitcoin stabilizes above key support levels or continues toward the $80,000 zone.

Nvidia has revealed a staggering order pipeline of about $500 billion, attributed to advanced AI-chip demand, just ahead of its third-quarter earnings report. The figure signals extraordinary visibility into future revenue and places the spotlight firmly on how the tech giant will translate that backlog into results at the upcoming earnings call.

CEO Jensen Huang outlined the magnitude of the opportunity, noting that demand for next-generation GPU lines – including the Blackwell and Rubin architectures – is already locked into contracts spanning 2025 and 2026. The announcement comes as the company prepares to report Q3 performance and issue guidance that may adjust market expectations for years ahead.

Significance of Nvidia’s Massive Pipeline

The size of the order book signals a seismic shift in Nvidia’s business profile. Its dominance in AI hardware is being reinforced by contracts that span multiple years, which could alter investor assumptions about growth sustainability, pricing power and competitive barriers.

Analysts now view Nvidia not just as a chip maker but as a central player in the global AI infrastructure wave.

At the same time, the timing is critical: with Q3 earnings providing the first public accounting of how much of that backlog is recognised and what future guidance management will set, the company faces elevated scrutiny. Any miss in revenue, margins or guidance could dampen investor enthusiasm despite the headline figure.

Investor Takeaways and Market Focus

For investors and market watchers, Nvidia’s announcement heightens both potential upside and risk. On the positive side, the backlog suggests meaningful growth ahead and supports the company’s leadership status in AI infrastructure.

On the other hand, translating large, multi-year orders into consistent, high-margin earnings remains a challenge – especially as AI competition, supply constraints and export restrictions persist.

Key signals to monitor include Q3 revenue and guidance, capex trends, chip-delivery schedules and customer concentration. With Nvidia already valued in the trillions, much of the upside is priced in – making execution and pipeline clarity more important than ever.

Billionaire investor Peter Thiel has fully sold his stake in leading AI-chipmaker Nvidia, according to recent regulatory filings. The exit reflects Thiel’s growing doubts over the sustainability of high valuations in the artificial-intelligence sector, which he believes is entering bubble territory.

Thiel’s fund disclosed that it disposed of approximately 537,742 shares in Nvidia by the end of the third quarter. The position once accounted for about 40% of the fund’s equity holdings, highlighting the scale of the change in strategy. Alongside the Nvidia sale, Thiel also reduced his holdings in Tesla, pivoting toward more diversified technology stocks.

Why Thiel Made the Move

Thiel has long warned about excessive investor optimism in the AI space, comparing current market dynamics to the dot-com boom. Despite Nvidia reporting robust growth – revenues surged over 50% year-on-year – Thiel appears to question whether the company’s valuation already fully reflects its future earnings potential.

With Nvidia having reached a market-capitalisation milestone of around $5 trillion, Thiel’s exit underscores a wider concern that growth expectations may be outpacing operational delivery.

Investor Implications and What to Monitor

For market watchers, Thiel’s divestment stands out because of his reputation as an early-stage tech investor with deep conviction. The sale may prompt a broader reassessment of AI-linked equity valuations and signal the beginning of cautious institutional positioning.

Key indicators to track include incremental disclosures by major funds on AI-chip holdings, guidance from infrastructure firms serving the AI ecosystem and whether price corrections in key players like Nvidia trigger wider tech sector pull-backs.

While Thiel remains bullish on long-term technology themes, his timing suggests that the current cycle may be shifting from rapid expansion to more measured growth. For now, investors should weigh whether the AI narrative continues to justify elevated multiples or if the market is entering a more discerning phase.