Chip Stocks’ Worst Streak Since 2008, and MapQuest Maps the Cameras
Chipmakers lose an eighth straight session, Microsoft reportedly exits an Essex data center deal, and MapQuest now shows license plate readers.
Good morning. Chipmakers lost an eighth straight session, Microsoft reportedly walked out of an Essex data center deal, and MapQuest now maps the cameras that read your plate.
Chip Stocks Lose an Eighth Straight Session, Their Longest Streak Since 2008
US chipmakers fell for an eighth straight session Friday. Trading Economics calls it the sector's longest losing streak since the 2008 financial crisis. The Nasdaq dropped 2.5% on the day and about 5% on the week. CoreWeave fell 11.9% Friday and 23.7% for the week. Micron lost 5.6% and AMD 5.9%. Nvidia slipped just 1.4%.
Trading Economics lists four causes: modest Anthropic revenue figures, worries about higher rates for heavily indebted firms, fresh credit concerns around AI infrastructure, and hot inflation data. Those are the outlet's attributions, not company statements.
The pain sits with borrowers, not with Nvidia. If you hold AI infrastructure stocks, check how much of your portfolio rides on this one trade before the open.
Sources: Trading Economics, StockTwits
Microsoft Reportedly Walks Away From a 23,040-GPU Deal in Essex
Microsoft pulled out this weekend of a deal to rent AI infrastructure at Nscale's planned Loughton site, the Telegraph reported Sunday. The site was due to hold 23,040 Nvidia GPUs by early 2027. We couldn't find a second outlet confirming the pullout. Nscale says its Microsoft relationship is "strong and long-term" and that it's still committed to Loughton.
The Telegraph says grid officials told Nscale they couldn't supply enough power until the 2030s. It also says Microsoft and Anthropic make up about 85% of Nscale's contract value, per the company's IPO filing. Nscale filed for a US listing in September, per Newsquawk.
Power, not chips, now limits the buildout. If you track neocloud stocks, watch whether other customers follow Microsoft.
Sources: Telegraph, SiliconANGLE, Newsquawk
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Anthropic Signs a 20-Year Lease for a Nova Scotia Data Center
EverWind announced Friday that Anthropic signed a 20-year lease for an 18,600-square-metre data center at Point Tupper, Nova Scotia. Phase one is 95 MW in late 2027. A 325 MW expansion follows in mid-2028, for 420 MW total. The lease value wasn't disclosed.
EverWind puts the investment at $10 billion, which Runtime Wire reports as Canadian dollars. That's $8 billion for the campus and $2 billion for onshore wind. It expects 2,000 construction jobs and 215 permanent ones.
AI labs now sign for power sites, not just chips. If you build near grids or sell to utilities, expect more 20-year leases like this one.
Sources: BNN Bloomberg, Runtime Wire
MapQuest Now Maps the Cameras Watching Your Car
MapQuest added a Surveillance Layer to its app Friday. It shows known outdoor cameras and license plate readers from 11 makers, including Flock Safety, Motorola's Vigilant, Axon and Verkada. You switch it on under Map Options, next to traffic and incidents.
Locations are crowdsourced, per CarScoops, so users can add cameras they spot. Coverage will be uneven. MapQuest announced it with the line "The Roads Have Eyes." Platform and region availability aren't stated.
Open the layer this week and see which readers sit on your commute.
Sources: The Next Web, CarScoops, Gizmodo
Hex Founder Richard Heart Detained in Turkey
Turkish police detained Richard Heart, founder of Hex and PulseChain, in Istanbul on October 14. Turkey's justice minister confirmed it Saturday, The Block reports. Heart's legal name is Richard Schueler. His wife and others were also detained.
The minister tied the case to an Interpol Red Notice that Finland issued in December 2024 over alleged tax crimes. A US judge dismissed the SEC's suit in February 2025, and the SEC didn't refile. Turkish reports disagree on what police seized, so we're not repeating any tally. No Turkish charges have been described.
Reports also differ on how far HEX and PulseChain fell. If you hold either token, size that position now.
Sources: The Block, BeInCrypto
Disney Hires 66 Character.AI Staff for About $180 Million
Disney offered jobs to 66 of Character.AI's roughly 86 employees as the chatbot maker sells itself in bankruptcy, per a filing Bloomberg reported Saturday. Disney estimates the pay at about $180 million over three years. That's roughly $60 million a year plus a $30 million retention pool.
Disney's opening bid for a license to the company's technology is $20 million. The app, brand and user data stay with the bankrupt estate. Character.AI filed Chapter 11 on October 12, and rivals can still outbid Disney.
The people cost nine times what the technology does. If you hire AI engineers, expect that gap to show up in your offers.
Sources: Bloomberg, PPC Land, TheWrap
Anthropic: Junior staff fell from 21% to 14% of its technical team since early 2025, and junior hires from 27% to 9%, per its own study. Median meeting time rose 20%.
DeepSeek: It priced its new Search and Fetch APIs at $0.75 per 1,000 successful requests. If you pay for a search API, compare your bill.
Microsoft: The $2,599 Surface Laptop Ultra began shipping October 16, per StockAlarm. Reviews should land this week.
Thanks for reading. See you tomorrow.