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2026-10-17 · 8 high-impact headlines

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55

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  1. Serenity: Memory chip shortage may persist until 2030, but the market is facing a significant correction due to concerns over the sustainability of AI investments.BlockBeats news, October 17 — Serenity posted that Dell's CEO once pointed out that the shortage of memory chip supply could be a problem lasting four years, because building new factories typically takes about four years, and new capacity may not be released until 2029 or 2030. He also expects that the tight semiconductor supply-demand situation may further worsen in 2027. Serenity believes that the current memory chip market is showing rare long-term demand visibility, with Google and other major cloud service providers seeking to extend long-term procurement agreements (LTAs) to 2035. However, the market has also seen a sharp pullback due to issues such as whether AI investment can be sustained and whether related financing is sustainable, creating a situation where long-term supply-demand tightness expectations coexist with severe short-term corrections in the sector.
  2. Bloomberg: CoreWeave's three co-founders have collectively sold shares worth $3.3 billion.BlockBeats news, October 17 - According to Bloomberg, the three co-founders of AI cloud computing company CoreWeave have cumulatively sold $3.3 billion worth of company stock since the company's IPO in March 2025. As credit risks rise and investor concerns about AI spending intensify, CoreWeave's stock price volatility has increased, and the founders' continued reduction of holdings has drawn attention. The three co-founders are Michael Intrator, Brian Venturo, and Brannin McBee. After CoreWeave's listing, the stock price at one point rose 359% from the issue price and reached a stage high about three months after listing, pushing Intrator's personal net worth to $11.8 billion, and the three also entered the top 500 of the Bloomberg Billionaires Index. CoreWeave's stock price closed down 11.91% this Friday. Previously, on October 15, Nvidia CEO Jensen Huang said that data center operator CoreWeave's financial condition is improving. Nvidia is CoreWeave's computing equipment supplier. Speaking at an event in Stockholm, Huang said: "CoreWeave's strength is increasing every day." He believes there is no need for Nvidia to provide financial guarantees for CoreWeave.
  3. Sui development team establishes AI business unit, former CEO to transition to CTO and oversee AI operations.BlockBeats news, October 17: Sui development team Mysten Labs CEO Evan Cheng announced in a post that the company will officially establish an AI business unit focused on agent trust products and native AI infrastructure development. At the same time, Mysten Labs President Kevin Boon will take over as CEO, while Evan Cheng will transition to Chief Technology Officer (CTO) and lead the AI business unit. Evan Cheng stated that as AI agents begin to autonomously execute tasks such as transactions, payments, negotiations, and code development, how to ensure agents act within authorized scope, avoid unintended harm, and resolve responsibility attribution issues among different participants is becoming a key challenge for industry development. Mysten Labs plans to build related products based on Sui and Walrus to help individuals and enterprises constrain agent behavior and support agents in safely executing tasks without the need for real-time human intervention. In addition, Mysten Labs recently announced a partnership with Google Cloud to develop a Verifiable Agent Arbiter (VAA), providing an evidence layer for enterprise AI agents and helping resolve disputes in cross-organizational collaboration through tamper-proof records. Evan Cheng believes that AI agent-driven commercial activity has enormous potential, but trust mechanisms and incentive coordination issues remain the main obstacles to its scalable development.
  4. Fidelity: Bitcoin Market Cap Correlation with US Treasury Yields Hits Record HighBlockBeats news, October 17 — Fidelity Digital Assets recently released an analysis stating that the U.S. 10-year Treasury yield has recently risen to its highest level since Bitcoin's inception, while U.S. federal debt has surpassed $40 trillion, with interest expenses exceeding Medicare and becoming the second-largest expenditure item in the federal budget. Fidelity pointed out that Bitcoin's correlation with the U.S. 10-year real interest rate had long been low, but in recent years it has gradually turned positive, with the correlation rising above 0.6 in 2026, hitting a record high. Over the past two months, Bitcoin rose nearly 30%, while the U.S. 10-year Treasury yield rose more than 10% over the same period. Fidelity believes that as government debt climbs, financing costs rise, and concerns over fiscal intervention intensify, Bitcoin's fixed supply cap of 21 million coins may enhance its appeal as a potential hedge against currency debasement and a portfolio diversification tool. If current debt and interest rate trends continue, government interest expenses could even become the largest expenditure item in the federal budget in the future. U.S. Treasury data shows that the U.S. federal budget deficit rose to $1.99 trillion in fiscal year 2026, up from $1.78 trillion in fiscal year 2025, the highest level since the pandemic. Although the Trump administration promised to cut spending, rising military spending, Social Security expenditures, and Treasury interest costs, combined with declining corporate tax revenue, have further widened the fiscal deficit.
  5. Jefferies is bullish on the year-end rally in US stocks: the current pullback may be a rare opportunity to build positions.BlockBeats news, October 17: Jefferies market intelligence analyst Dan Kirsche said that although tech stocks continue to face pressure, the market rally is broadening to more sectors, and combined with reduced investor positioning pressure and falling U.S. Treasury yields, current market volatility may provide investors with a rare window to build positions, and he expects U.S. stocks to perform strongly in November and December. Kirsche pointed out that the Nasdaq has pulled back about 5% from its high, while the S&P 500 equal-weight index has rebounded about 7%–8% from its low, showing that weakness in tech stocks has not prevented other sectors from strengthening. However, he expects the S&P 500 may still retest its 100-day moving average at around 7,600 points. The correction risk in the semiconductor sector has also not been lifted, with the Philadelphia Semiconductor Index falling for an eighth consecutive day, on track for its longest losing streak since May 2006. BTIG analyst Jonathan Krinsky believes that after the Philadelphia Semiconductor Index's consecutive declines, a short-term rebound may occur, but there is still room for further downside in the medium term. Kirsche sees 11,000 points as the index's next important support level, and expects the U.S. 10-year Treasury yield may fall from about 5.13% to 5.00%, then further decline to 4.8%.
  6. Anthropic Said to Offer Blackstone Over 10% Yield for $60 Billion Chip FinancingAnthropic is offering Blackstone over 10% yield to raise funds for its latest chip deal. The $60 billion debt financing plan, called "Project North Star," will help Anthropic procure approximately 1.5 gigawatts of custom semiconductors developed by Google, known as TPUs. This is expected to become the largest chip financing deal to date and a key test of investor demand for AI-related debt. Sources familiar with the matter said Blackstone's fund will invest $9 billion to purchase debt backed by Anthropic's chip lease payments over the next five years, accounting for half of the approximately $18 billion in subordinated loans. The coupon rate quoted to Blackstone is 10%, and the total yield will be even higher when factoring in new issue discounts and other fees. According to the ICE BofA BB US High Yield Index, borrowers with similar credit profiles typically pay around 7% yield when raising funds in the public bond market.
  7. The U.S. fiscal year 2026 budget deficit is approaching $2 trillion, as Trump's spending cuts face setbacks.BlockBeats news, October 17, according to The New York Times, U.S. Treasury Department data shows that the U.S. federal budget deficit rose to $1.99 trillion in fiscal year 2026, up from $1.78 trillion in fiscal year 2025, the highest level since the pandemic. Although the Trump administration promised to cut spending, rising military spending, Social Security outlays and national debt interest, combined with falling corporate tax revenue, further widened the fiscal deficit. Data shows that total U.S. government spending rose 6% year-on-year to $7.4 trillion in fiscal year 2026, while tax revenue rose 3% year-on-year to $5.4 trillion. Among these, rising long-term interest rates increased national debt interest payments by more than $100 billion compared with 2025; in addition, the U.S. Supreme Court ruled that tariffs imposed by Trump on national security grounds were illegal, and the government needs to refund more than $100 billion in tariff revenue this year. Total U.S. national debt surpassed $40 trillion in August. As inflationary pressure persists and Treasury yields rise to 20-year highs, the government's financing costs have further increased. U.S. Treasury Secretary Bessent had previously hoped to reduce the deficit as a share of GDP to 3%, but that ratio rose back above 6% in fiscal year 2026. International Monetary Fund Managing Director Georgieva said that although economic growth helps, it cannot complete the necessary fiscal adjustment quickly enough.
  8. Jensen Huang: Current market turmoil will eventually pass, AI will bring transformationNvidia (NVDA.O) CEO Jensen Huang said at an event in Berlin that the current turbulence in the AI market will eventually pass, for a simple reason: AI will bring transformation and have a very positive impact on every industry and every country. There is no doubt that the development of AI will continue to advance, and we are still in the early stages of this process. Huang said that recent market news has been changing repeatedly, but this will not change the industry's fundamentals. Large-scale hardware investment will ultimately generate returns and ease market unease. Regarding the recent sell-off in AI chip and infrastructure stocks, with investors worried that AI investment spending will be difficult to sustain amid rising borrowing costs, Huang remains optimistic about the AI market and its impact on the overall economy. Huang said investors should focus on first principles and fundamentals and maintain attention on long-term value.