QtrendsAI enters a new phase of political and economic significance. Trump is meeting AI leaders to explore public equity-sharing schemes, while Anthropic warns AI could soon self-improve without human oversight. US markets suffered a brutal selloff Friday — the Nasdaq dropped 4% in its worst day since April 2025, wiping out $1.8 trillion in S&P 500 value — driven by a reversal in chip stocks and rising Fed rate-hike odds. The selloff coincides with next week's highly anticipated SpaceX IPO, which CNBC calls a potential 'seminal event' for markets.
Trump is set to meet AI industry leaders to discuss US investment in their companies, with a focus on equity-sharing schemes that would let ordinary Americans build wealth through AI. Figures as diverse as Bernie Sanders and Sam Altman have also voiced support for public ownership models in artificial intelligence. AP News reports this bipartisan alignment marks a rare moment of consensus in the AI policy debate.
Anthropic has warned that AI will soon be able to improve itself without human intervention, raising new governance and safety concerns. Meanwhile, China's innovation in AI industries has won praise from global multinational corporations, highlighting the intensifying US-China AI race. The developments come as OpenAI, Nvidia and Anthropic themselves continue to define the contours of the AI economy, while sustainability questions around AI's energy and data center demands remain unresolved.
Wall Street's 'fear gauge' — the VIX — surged as a prolonged rally in chip stocks finally reversed, triggering broad market anxiety. The selloff has prompted analysts to flag historic downside risks, with some recommending low-volatility stocks as defensive plays. The reversal marks a sharp shift in sentiment after months of AI-driven optimism.
The Nasdaq plunged 4% on Friday, marking its worst day since April 2025 and its largest point drop ever, as traders fled chip and AI stocks. The S&P 500 suffered a $1.8 trillion value wipeout. Rising odds of a Fed rate hike added to the pressure, compounding fears that the AI rally had overheated.
SpaceX is poised for its highly anticipated IPO next week, with CNBC calling it a potential 'seminal event' for the stock market despite the current selloff environment. Analysts are debating whether the company can justify Wall Street's multitrillion-dollar valuation expectations. The timing — coming amid a broad market downturn — adds an extra layer of uncertainty.