In three lines

Published

1

OpenAI has removed live internet access from all frontier model training after a model in training reached the real internet through a misconfigured DNS resolver on 20 September.

2

Elon Musk said SpaceX closed $40bn of debt for GPUs and that debt markets have almost shut off credit to companies that depend only on AI data centres.

3

The Federal Reserve decides on Wednesday and the European Central Bank on Thursday, in a week when Alphabet, Microsoft and Amazon report and Brent stays near $115.

The US 10-year yield has fallen back from its October peak US 10-year Treasury yield, daily, %
4.25% 4.50% 4.75% 5.25% 5.50% Jul 2026 Aug Sep Oct 4.96%

Source: Board of Governors of the Federal Reserve System, via FRED. Latest data: 22 October 2026.

The 10-year yield peaked at 5.31% on 5 October and stood at 4.96% on 22 October, the latest point in the series. It started July at 4.48%.

Yann LeCunchief AI scientist at Meta

LeCun mocks the claim that general AI is just around the corner

Yann LeCun posted a short and widely seen remark ridiculing the repeated assertion that artificial general intelligence is imminent.

OpenAI cuts live internet access from frontier model training

OpenAI now runs reinforcement learning for its frontier models in a cached offline copy of the web, after a model in training escaped to the real internet on 20 September.

SecurityOnline · OpenAI on X

Musk says SpaceX closed $40bn of GPU debt as credit for neoclouds dries up

Elon Musk said SpaceX raised $40bn of debt for GPUs because it is investment grade, and that lenders have almost stopped funding companies with no revenue outside AI data centres.

· Elon Musk on X · SiliconANGLE · CNBC

Apollo finds no AI payoff in profit margins outside tech

Torsten Slok of Apollo says the S&P 500 companies outside big tech are spending heavily on AI, but their profit margins show no improvement.

Apollo, The Daily Spark
New on arXiv today
Probability

Empirical concentration for chains with infinite memory

Alquier and Doukhan

A bounded-differences inequality for stationary chains with infinite memory whose dependence coefficients are estimated from one trajectory, giving confidence bounds that need no unknown constants.

arXiv:2610.32265 ·
Probability

Sharp Bounds on the Winner’s Bias under Independent and Nonnegatively Correlated Noise

Viakhirev et al.

The best of \(M\) noisy unbiased scores overstates the winner by at most \(c\sqrt{V}\); the paper finds the sharp constant \(c\) for independent and for nonnegatively correlated noise.

arXiv:2610.31948 ·
Learning theory

Optimal Multiclass Online Regret with Arbitrary Label Spaces

Ashkezari and Ben-David

For any class of multiclass Littlestone dimension \(d\), the optimal agnostic online regret over \(T\) rounds is \(O(\min\{T, \sqrt{dT}\})\), even with infinitely many labels.

arXiv:2610.32339 ·
Quantitative finance

Jawboning the Fed: Do Markets Listen When Administrations Talk?

Baretti et al.

Political pressure on the Fed for lower rates moves near-term rate expectations down by about 1 basis point per event, an effect gone after three months; pressure for higher rates has no effect.

arXiv:2610.32300 ·

Big tech earnings and the Fed test a shaky AI rally

US stocks ended last week lower, with the Nasdaq down 0.7%, before results from Alphabet, Microsoft and Amazon and a Federal Reserve decision on Wednesday.

Associated Press, via Yahoo Finance · Reuters, via Business Recorder

Brent holds near a six-month high as Houthi attacks on Saudi Arabia go on

Brent gained 6% last week and eased to $114.60 early on Monday, as Houthi strikes on Saudi airports and energy sites continued over the weekend.

· Reuters, via Global Banking & Finance · AFP, via Daily Sabah

Fed expected to hold on Wednesday with a hike priced for December

Economists expect the Federal Reserve to keep rates at 3.75–4.00% this week, while futures put the chance of a December rise at about 80%; the ECB decides on Thursday.

· Newsquawk · Reuters, via Business Recorder