In three lines

Published

1

The Nasdaq fell 2.86% on Friday, its worst day since 5 June, as Intel lost 28.6% on a weak forecast and Amazon’s spending unsettled investors.

2

The FBI blamed North Korea for the $6.3bn theft from Binance, and the exchange reopened withdrawals on Sunday after replacing most of the stolen assets.

3

Randall Balestriero and Yann LeCun proved that predictive models trained separately on different modalities learn the same representation up to one rotation.

Must-readAI · Agents

Karpathy builds a YouTube clone in about 2 hours by talking to Claude

Andrej Karpathy, who joined Anthropic in May, says his only manual steps were an API key, a server and a domain name. The account comes from an employee of the company that makes the model.

Full story
Amazon tops 2026 capital spending plans at $220bn Planned capital expenditure for 2026, top of each company’s stated range, $bn
Amazon $220bn Alphabet $205bn Microsoft $170bn Meta $145bn SpaceX $88bn

Source: Fortune, from company earnings releases and calls.

Amazon expects to spend $220bn this year. Alphabet plans up to $205bn, Microsoft about $170bn, Meta up to $145bn and SpaceX, which includes xAI, up to $88bn. Most of it pays for data centres and chips.

Yann LeCunexecutive chairman of AMI and professor at New York University

LeCun argues that world models can replace knowledge accumulation with understanding

LeCun said large language models need many parameters to hold declarative knowledge, while predictive world models can get by on less memory and data.

François Cholletcreator of Keras

Chollet says evolution favours generality because specialists break

Chollet wrote that evolution optimises for generality and robustness, since overspecialised species become fragile when environments shift.

DeepSeek releases Super-Agent, an open coding agent that reads team chats

DeepSeek put Super-Agent on GitHub under an MIT licence. It takes coding tasks from team chat and answers with pull requests; the lab calls it a research prototype.

· The Next Web · Bloomberg

Postgres 19 slips because language models find bugs faster than people fix them

Robert Haas, a PostgreSQL committer, blames AI-reported bugs for the late release. Back-patched commits rose by more than 60% between feature freeze and 25 September.

· Robert Haas

Scott Alexander argues against stopping AI work unilaterally

In an essay that set off a debate among researchers, Alexander says demanding that safety-minded labs quit the race alone destroys the backup plan if a global pause fails.

· LessWrong · Discussion on X
New on arXiv today
Learning theory

Proving and Improving the Platonic Representation Hypothesis with JEPAs

Balestriero and LeCun

JEPAs trained separately on any number of modalities learn the same representation up to one rotation when positive pairs are two views of one scene. Next-token prediction is shown to be a case with bad views.

arXiv:2610.39302 ·
Learning theory

Closing the Log Gap: Minimax-Optimal Regret for Episodic RL

Zamir et al.

A variant of UCBVI reaches expected regret of order \(\sqrt{H^3 S A K}\) for large \(K\), matching the minimax lower bound with no extra polylogarithmic factors for the first time.

arXiv:2610.40165 ·
Reasoning and inference

There Is No Free Lunch in RLVR: Every pass@1 Gain Has a pass@k Price

Liu

Modelling reinforcement learning as an exponential tilt of a base policy, the paper proves that first-try gains cost success on other prompts and force a crossover at large sampling budgets \(k\).

arXiv:2610.39295 ·
Credit risk

Comparing tail forecasts: the number of exceedances is the sample size

Coelho

When two tail forecasts are compared by a consistent score, exceedances are the effective sample size. With few of them, the Diebold-Mariano test favours the less conservative forecaster.

arXiv:2610.40366 ·

Calegari tells mathematicians to change their own institutions after AI

On Terence Tao’s blog, Frank Calegari argues that the subject is not finished, and that mathematicians should spend their effort on hiring, publishing and training.

· What’s new (Terence Tao’s blog)

Nasdaq falls 2.86% as Intel drops 28.6% on a weak forecast

The Nasdaq closed at 25,437.00 on Friday 30 October, its worst day since 5 June, after Intel and Amazon deepened worries about the cost of AI.

Nasdaq Composite, daily close25,437.00
Daily closes, 30 Apr to 30 Oct 2026 · Yahoo Finance
· Yahoo Finance · Fortune · Ynet · SiliconANGLE

FBI blames North Korea for $6.3bn Binance theft as withdrawals resume

The FBI named North Korea’s TraderTraitor unit on Saturday. Binance reopened withdrawals on Sunday and reported $3.6bn of net outflows in the first 9.5 hours.

· Al Jazeera · Cointelegraph: FBI · Cointelegraph: outflows

Brent eases on Monday as Iran discusses a 2-day Hormuz reopening plan

The expiring December contract settled at $117.64 on Friday and January at $113.43. January fell about 2% in Asia on Monday as talks in Doha continued.

Brent crude futures, front month, $ a barrel$117.64
Daily closes, 1 May to 30 Oct 2026 · Yahoo Finance
· Al Jazeera · FinanceFeeds · Business Standard

Midterms, payrolls and 2 rate decisions fill the week ahead

Americans vote on Tuesday and the October jobs report comes on Friday. The Reserve Bank of Australia and the Bank of England decide rates, and 31% of S&P 500 companies report.

· Yardeni Research · Tech Insider