On September 14, Business Insider reported that Michael Burry, the investor who inspired 'The Big Short', stated in a post on X platform on Sunday night that the calls from executives at AI companies like OpenAI and Anthropic to slow down AI development are 'selfish'. Burry outlined four reasons: first, large language models are not AI and will not become AGI, so there is nothing to slow down; second, slowing down benefits incumbents and hinders smaller competitors; third, promoting AI as an extinction-level threat fuels the 'hype and boasting' that supports IPOs; fourth, the intention to slow down provides cover for 'truly uncontrollable growth slowdowns'. Burry further stated in his Substack that the support from senior executives at Anthropic and OpenAI for slowing down is 'to enhance their perceived power before an IPO', and claimed that models like Claude and ChatGPT do not achieve true reasoning capabilities. Previously, AI leaders such as Sam Altman and Dario Amodei have called for a slowdown, with Musk also expressing support.
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Burry, Prototype of 'The Big Short': AI Leaders' Call to Slow Development is 'Selfish' and Humans Need Not Fear
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Fed's Rate Hike in September Almost Certain, Analysts Say Current Conditions Resemble the 1990s Rather Than 2022
On September 14, news emerged that following a rise in the U.S. core CPI in August, expectations for a Federal Reserve rate hike in September have surged, making an increase this week a high-probability event. LPL Financial's analysis of six tightening cycles since 1994 shows that the S&P 500 has averaged negative returns in the first four months after the initial rate hike, with an average increase of 6.7% over 12 months and a median of 10.7%. Notably, after the rate hike in March 1997, the S&P 500 rose by 42% over the year, while after the March 2022 hike, the maximum drawdown was approximately 25%. LPL believes the current macroeconomic environment is more akin to the late 1990s: the economy remains resilient, inflation is below the peak levels of 2022, and the starting interest rates are already relatively high. The AI investment boom may support capital expenditures. However, the firm does not expect a simple replication of the 42% increase seen in 1997, and the scale of this tightening cycle is unlikely to approach the cumulative 5.25 percentage points seen from 2022 to 2023. -
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On September 14, ahead of this week's Federal Reserve meeting, the benchmark 10-year U.S. Treasury yield rose to the critical psychological level of 5% on Monday, marking the first time in nearly three years. The market widely expects the Federal Reserve to raise interest rates to curb inflation. Data released last Friday showed that consumer prices in the U.S. accelerated in August, intensifying market expectations for a rate hike by the Fed to tackle inflation. Tom di Galoma, Managing Director at Mishler Financial, stated that this "could be the last straw that breaks the camel's back." Over the past month, yields have continued to rise due to increasing rate hike expectations, a surge in corporate and government debt supply, optimistic economic growth prospects, and concerns about the long-term fiscal path of the U.S. Galoma noted, "Our budget, deficit, and overall debt structure continue to expand." Moving forward, whether the 10-year Treasury yield can maintain its position above 5% will be a critical test of whether the economy and stock market can support higher interest rate levels. -
Trump: The Only Control Needed for AI is a Strong President Like Me
On September 14, U.S. President Trump stated that the only control needed for artificial intelligence is a strong president, and the United States currently has such a president, far exceeding what is necessary. The Trump administration has already prevented individuals in the AI field from engaging in harmful or potentially harmful 'behaviors,' such as those by Dalio, and we will continue to do so. (Jin Shi) -
US Debt Ceiling Approaches $41.1 Trillion, Congress Faces 'Lame Duck' Political Gamble
The total US debt is expected to exceed the statutory limit of $41.1 trillion by 2027, with the results of the midterm elections in November becoming a crucial variable. Last week, Trump proposed that if the Republican Party wins the midterm elections, each American would receive a $5,000 bonus, which critics say would accelerate reaching the limit. Some Republicans are contemplating addressing the debt ceiling early during the 'lame duck' session after the elections to prevent the Democrats from using it as a political leverage if they regain control of both chambers. However, fiscal conservatives within the Republican Party, such as Congressman Chip Roy, strongly oppose this unless it is accompanied by significant spending restrictions. House Speaker Johnson holds only a slim majority, allowing for a maximum of three members to defect, while the Senate must overcome the 60-vote threshold. On the Democratic side, if they win, they will use the debt ceiling as a key lever to constrain the White House. A similar standoff in 2023 brought the US to the brink of default, leading Fitch to downgrade the US credit rating from AAA to AA+. -
Nasdaq 100 Index Falls to Six-Week Low
The Nasdaq 100 Index has fallen to a six-week low, down 1.7% in the latest trading session. Nvidia (NVDA.O) dropped over 4%, while Intel (INTC.O), Micron Technology (MU.O), and SanDisk (SNDK.O) all fell more than 7%. (Jin Ten) -
NVIDIA Expands CUDA-Q Platform with Quantum Fault-Tolerant Computing Orchestration Layer
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On September 14, U.S. stocks opened lower with all three major indices declining. The Dow Jones fell by 0.2%, the S&P 500 dropped by 0.7%, and the Nasdaq decreased by 1.2%. AI giants are calling for a slowdown in development, leading to declines in AI chip stocks. Nvidia (NVDA.O) fell by 3.3%, Intel (INTC.O) dropped by 7%, and AMD (AMD.O) decreased by 5.2%. Micron Technology (MU.O) fell by 6.7%, SK Hynix (SKHY.O) dropped by 7.1%, and SanDisk (SNDK.O) decreased by 5.8%. Oracle (ORCL.N) fell by 5.2% amid reports of a new round of layoffs at the company. -
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Canaan Creative Produces 44 BTC in August, Sells All ETH and 54 BTC to Repurchase 13.6 Million ADS
On September 14, Canaan Creative (NASDAQ: CAN) released its Bitcoin mining operational update for August 2026. In August, the company produced 44 BTC, with non-joint venture installed computing power maintained at 10.05 EH/s and joint venture installed computing power reaching 4.92 EH/s, while the average all-in electricity cost was $0.043 per kWh. In late August, the company sold all 3,952 ETH and 54 BTC at an average price of approximately $2,400/ETH and $79,000/BTC, generating about $13.9 million in cash, and used part of the proceeds to repurchase approximately 13.6 million ADS, bringing the total repurchased since the beginning of the year to about 16.4 million shares. By the end of the month, the company held 1,868 BTC and 0 ETH. Additionally, equipment for the Canadian waste heat recovery greenhouse project has arrived and installation has begun, while the Ethiopian mining operations have been suspended but the computing power is still accounted for in the installed capacity.
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