The AI selloff went global in Tokyo. The Nikkei plunged more than 3% intraday before closing down 1.4% at 62,189, as SoftBank, Advantest $ATEYY and Kioxia led AI names lower on US midterm jitters over data-center rules. Risk was cut first, questions later.

$AMD just delivered, and the guide is the story. Q3 EPS $2.09 vs $1.95 expected, revenue $13.38B as data center sales jumped 97% to $8.5B. Q4 revenue is guided to about $17B, well above the $16.3B consensus. Margins are the watch: Q4 gross margin guided near 55%.

$GOOGL just made Search take-it-or-leave-it for schools. AI tools switch off by default for K-12 accounts next year unless admins opt in. But block AI entirely and students lose Search too. The two are now built as one product. Opt in, or go without.

Tether is sitting on a serious Bitcoin stack. CEO Paolo Ardoino says the stablecoin issuer holds about 150,000 Bitcoin ($BTC) of its own, disclosed at Lugano's Plan B Forum. That is on top of $122.8B in T-bills held directly in Q3 reserves.

$DIS is planning its biggest cost reset yet. Bloomberg reports Disney is eyeing thousands of layoffs, with some managers asked to find 20% in annual cost savings across parks, TV and film. Savings would be reinvested in production, tech and parks.

BofA's Hartnett just flipped on the AI debt trade. A year after calling to short hyperscaler bonds, he now says buy them: tech bonds are down 9% this year, Mag 7 paper yields 6% to 8%, and issuance hit $182B vs $17B in 2024. The supply finally pays you.

Treasury is following the money overseas. FinCEN flagged over $8B in potentially suspicious wire payments from 2021 to 2025, routed through US money services firms at foreign agents' direction, and just put banks on alert. Suspicious is not proven. But $8B gets attention.

The AI buildout's real bill sits off the balance sheet. Tallying the Q3 filings, disclosed off-balance-sheet commitments across the hyperscalers, $NVDA, $AVGO and SpaceX now reach about $4.1T, up roughly $1T in 90 days. Promises to pay that no leverage ratio captures.

Goldman's AI warning is about the second derivative. Spending is still at record levels, and Goldman credits AI investment with about half of the S&P 500's earnings growth this year. But supplier profits track the growth in spending, not the level.

Canada and the EU built their own canopy. Ottawa and Brussels launched an Alliance for the Future in Montreal: Canada joins the EU's €90B Ukraine loan with €500M to start, plus closer ties on critical minerals, AI and digital trade. A hedge against an unpredictable Washington.