Bloomberg reported that Goldman Sachs, Citigroup, Banco Santander, Deutsche Bank, and other firms have committed around $270 million to a joint stablecoin venture. The money is intended to cover roughly five years of operating costs for a new U.S.-incorporated company that will issue a dollar-denominated stablecoin. The project is internally codenamed “Project Faro.”

Bloomington, Indiana, has banned artificial superintelligence. The city council voted 7–0 to bar superintelligent AI within city limits, including through apps and browsers. Violators face fines and possible prosecution. Lifting the ban would take approval from more than 95% of registered voters.

Bloomberg reports that prospective investors now value @AnthropicAI at $1.2–1.3 trillion ahead of its IPO, with some as low as $1.1 trillion. 📉 A month ago, expectations were around $2 trillion. Formal marketing starts next week, so this isn't a settled IPO price, but it's a sharp reset.

Bloomberg reports that hedge fund Walleye Capital plans to return part of its capital to investors. Some context: Walleye reportedly lost nearly 6% in October and is now negative for 2026. Why does this matter given today's correction? When leveraged hedge funds reduce the capital they manage, they may also need to reduce their positions. That means selling longs, covering shorts and unwinding trades. If enough funds are doing this simultaneously, selling pressure can accelerate, even in companies where nothing fundamentally changed. Now, returning capital doesn't necessarily mean forced liquidation. We also have no evidence that Walleye is responsible for today's selloff. But I think it's worth watching. The market was already under pressure, particularly AI and semiconductor names. If leveraged funds start reducing exposure on top of that, things can get ugly pretty quickly. The question is whether we're simply seeing investors reassess valuations or whether deleveraging is starting to amplify the correction.

BLOOM ENERGY $BE & CALIFORNIA RESOURCES SIGN DEAL TO EXPLORE 1 GW+ OF POWER GENERATION IN CALIFORNIA The companies signed a non-binding MOU to develop solid-oxide fuel cell projects paired with carbon capture and storage. Bloom would supply its fuel cell technology, while CRC's Carbon TerraVault would provide CO2 transportation and permanent storage. The projects, being considered in Central and Northern California, could serve data centers, utilities and industrial customers. The companies estimate up to 3 million metric tons of CO2 annually could be available for capture and storage. Development remains subject to final agreements, investment decisions and regulatory approvals.