fortune.com · Thu 5 Nov

Thursday 5 November

Asia can't afford a 'cloudless' day. That means paying attention to undersea cables

Kapil Kumar Jain, vice president, global network services at Tata Communications

AI-generated summary Tata Communications reports that 77 percent of enterprise leaders prioritize AI investment as a board-level strategic matter, yet 65 percent of enterprises still operate on legacy or developing infrastructure. Subsea cable damage caused widespread disruptions across Africa in 2024 and restricted access across Asia and the Middle East in 2025, while the Enhanced ASEAN Guidelines now recommend capping submarine cable repair processing times at 10 days.

Tech stocks are suffering their biggest selloff since Covid, as investors see premature end to AI datacenter boom

AI-generated summary Tech stocks experienced their largest selloff since March 2020 on Thursday as investors worried about the future of the artificial intelligence datacenter boom following U.S. midterm election results. Major companies including Meta, Microsoft, and Nvidia declined during the trading session, while analyst Dan Ives wrote that capital expenditure growth could peak next year rather than later in the decade.

Also covered by marketwatch.com forbes.com bloomberg.com
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Bitcoin Erases Election Rally as AI Stocks Plunge, $428 Million in Crypto Longs Get Wiped Out

investing finance money bitcoin Breaking Push cryptocurrency stocks trading

AI-generated summary Bitcoin fell back toward $76,500 on Thursday as a broader technology stock selloff triggered $428 million in cryptocurrency liquidations. Investors expressed concerns over artificial intelligence spending, interest rates, and potential policy changes following the recent election.

Also covered by coindesk.com pcgamer.com www.theblock.co investingLive Yahoo Finance crypto.news Investing.com Fortune
+1 moreBloomberg

‘Sad and devastated’: Canva cuts hit staff and Australian tech overall

The Sydney Morning Herald logo

AI-generated summary Canva chief executive Melanie Perkins told staff that 1271 people would be affected by a restructuring after growth slowed this year. Dunja Popovs was among the workers losing their job at the design software maker, according to the report.

Also covered by bloomberg.com the Guardian theinformation.com adweek.com ctech Business Insider Fortune
+1 moreFast Company

Tech Billionaires Face Tricky Political Waters After Democratic Midterm Sweep

AI-generated summary Readers viewing a preview of the article can see that tech executives such as Jensen Huang of Nvidia, Elon Musk of Tesla and SpaceX, and Mark Zuckerberg of Meta previously met with President Trump. Democrats will soon control Congress and prominent state governments after a midterm sweep, placing some tech executives in a trickier position regarding their political alignment.

Also covered by Fast Company The San Francisco Standard bloomberg.com marketwatch.com Decrypt TESLARATI the Guardian bbc.co.uk Investing.com CNBC Yahoo Finance Fortune
+3 moreFuturism International Business Times thehill.com

Research firm declares ‘end of the AI trade as we know it’ — and Asian tech stocks reflect the shift

AI-generated summary Citrini Research releases its latest report on Wednesday, predicting peak capital expenditure growth in the artificial intelligence sector. Asian stock markets reflected this shift as investors rotated into consumer and internet plays listed in Hong Kong and China.

Also covered by bloomberg.com Al Jazeera Nikkei Asia apnews.com Investing.com Fortune
+2 moreInvestor's Business Daily investingLive

OpenAI to Change How It Handles Data Center Efforts After Outcry

AI-generated summary OpenAI announced it will avoid nondisclosure agreements during data center negotiations and ensure residents do not pay for project electricity. The company states this framework should be adopted into laws governing the expansion of artificial intelligence following recent voter decisions.

Also covered by CNBC news.bloomberglaw.com datacenterdynamics.com businessinsider.com nytimes.com Decrypt semafor.com The Verge Fortune
+2 moreFuturism www.techradar.com