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USNBC News

Cracks are beginning to show in the stock market, as doubts grow about AI investments

Photo: Michael M. Santiago

Just one week after hitting fresh all-time highs, U.S. stocks are showing signs of strain as investors begin to fret about returns on the trillions of dollars that have been put into AI.

As of Thursday morning, the S&P 500 was off more than 1% from its week-ago record, while the tech-heavy Nasdaq had fallen about 4% below its peak last week.

Driving the declines: Quarterly revenue growth at Anthropic has slowed, the Financial Times reported Wednesday. The AI giant is expected to be worth more than $1 trillion when it goes public, and at nearly $17 billion, its revenue is still massive and the company said it is profitable.

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USCBS News

ASU parts ways with hockey coach following player collapse

Arizona State University announced Thursday that it has reached a "mutual agreement to part ways" with hockey coach Greg Powers, nearly two months after 21-year-old sophomore Matthew Mayich collapsed during a workout and had to be put on life support. "The university and Sun Devil Athletics are grateful for Coach Powers' work to establish ASU as a Division I hockey program and for his service over the past nearly two decades," ASU said in a statement. The school said it has hired Dave Hakstol as head hockey coach. Hakstol had previously been an assistant coach for the Colorado Avalanche in the NHL.

USCBS News

Feds probing suspicious letters to election officials, lawmakers

Washington — Federal investigators said Wednesday that they are looking into "suspicious" letters mailed to state election officials and congressional offices, some of which contained unknown substances. The FBI and U.S. Postal Inspection Service are investigating the "suspicious mailings," according to Brendan Donahue, the deputy chief inspector at the USPIS. Donahue told reporters that some letters have contained an unknown substance and that they were sent to "various addresses nationwide," including "secretary of state offices and the related election offices."

USCBS News

Winter may bring snow and rain to some drought-stricken U.S. states

NOAA's winter outlook, released Thursday, centered on temperature and precipitation forecasts for the U.S. from December to February. El Niño , a shifting climate pattern dictated by ocean temperatures in the tropical Pacific Ocean, influences weather around the world. Forecasters said it's going to play a significant role in how Americans experience the upcoming winter. Although El Niño is considered the "warmer" phase of the El Niño-Southern Oscillation cycle, opposite the "cooler" La Niña, that doesn't necessarily mean its existence will lead to milder winter weather across the board, experts said.