Investors sold off tech stocks Thursday amid concerns that a Democratic House and Senate could pursue to tighter AI regulation next year. The Nasdaq Composite opened more than 1% higher on Friday morning.
Anthropic launches Claude personal finance tool
Anthropic announced it is introducing the beta version of a personal finance tool on Claude in the United States, allowing users to get AI-inspired advice on their financial decisions.
Users connect whichever accounts they choose, including bank, credit card, loan and investment accounts. Users can then ask detailed questions about their finances.
"Claude gives you answers in everyday language, from your balances and transactions, and explains any term that's new to you," Anthropic wrote in a blog post. "Like the rest of Claude, Personal Finance has no ads or sponsored recommendations, and it doesn’t offer credit cards, loans, or savings accounts of its own, so your money questions get a straight answer."
Anthropic made clear that its access to users' bank or credit card accounts would be read-only and that "Claude can't move, manage, or invest your money."
The personal finance tool will be made available in beta for paid customers on the Pro, Max and Ultra plans.
This comes after OpenAI's ChatGPT launched a similar product back in May.
Nvidia, AMD and other AI stocks climb, clawing back some Thursday losses
Investors pushed AI stocks higher Friday, though they remained below Thursday’s levels, signaling a tentative rebound after the historic selloff.
Nvidia, considered a bellwether for the chip sector, climbed 3.5% as of 11:50am ET. Shares retreated around 9% in Thursday's trading session.
AMD, another chipmaker, rose just under 10%, recouping some of its 17% loss the previous day.
Broadcom and Intel, each down about 10% at Thursday's closing bell, have increased 1.75% and 6.8%, respectively.
Tech stocks also enjoyed a recovery early Friday, with Alphabet, Meta and SpaceX all posting moderate gains.
Nasdaq opens higher as chip stocks attempt to recover from brutal losses
The Nasdaq Composite opened higher on Friday after a selloff hit artificial intelligence stocks and sent the exchange into correction territory.
The tech-heavy Nasdaq rose 1.28%, while the Dow Jones Industrial Average was 474 points, or 0.92% lower. The S&P 500 was up 0.38%.
Technology and chip stocks were among those hardest hit on Thursday as investors weighed what Democrats' sweeping midterm election victories could mean for AI regulation and data center development.
The selloff came just one day after stocks rallied following the midterm elections.
"The obvious catalyst for the sharp selloff is that markets are pricing in the midterm results, after yesterday saw markets rise across the board as the political risk premium unwound," eToro market analyst Jakub Rochlitz said.
This is an excerpt from a story by Fox Business' Matthew Kazin.
Oil-rich UAE makes massive AI bet as Sam Altman unveils ambitious plan to transform energy industry
ABU DHABI, United Arab Emirates — At the opening of the world's largest energy conference in Abu Dhabi, artificial intelligence took center stage alongside oil and gas as OpenAI CEO Sam Altman joined senior UAE officials for the announcement of a major partnership aimed at bringing advanced AI into the energy industry.
The opening ceremony of ADIPEC 2026, attended by Fox News Digital, brought together senior government officials and energy industry leaders at a time when the war involving Iran and disruptions to the Strait of Hormuz have placed extraordinary pressure on global energy supplies.
But amid discussions about oil production, shipping routes and energy security, Dr. Sultan Al Jaber, the UAE’s minister of industry and advanced technology and chief executive of state-owned energy giant ADNOC, delivered a different challenge to the technology industry.
"From the moment ChatGPT was born, the world has asked what energy can do for AI. And now, together, we will find out what AI can do for energy," Al Jaber told the audience, introducing a partnership between ADNOC, OpenAI and Abu Dhabi-based technology company G42.
This is an excerpt from a story by Fox News Digital's Efrat Lachter.
Musk says Cybertruck will no longer be produced in Texas factory after years of dismal sales
Elon Musk said Friday that Tesla will stop producing the Cybertruck at its gigafactory in Texas by mid-2027, a move that comes after years of worse-than-expected sales for the futuristic model, which was pitched as an alternative to traditional trucks.
Musk said winding down Cybertruck production would make room at the factory to increase Cybercab output. The two-seat vehicle is designed to serve as the basis for Tesla’s robotaxi service, which currently offers Cybercab rides in Austin.
It's not clear if Cybertruck production is being moved to another facility or being phased out entirely. The Texas site is the only known site with the ability to manufacture the vehicles specialized components, Reuters reported.
In response to a user on X, Musk called the Cybertruck, which debuted in November 2023, the "best vehicle Tesla has ever made" and the wind-down is the "end of an era."
Tesla sold 20,237 Cybertrucks in the U.S. last year, a 48% drop from 38,965 in 2024, according to Kelly Blue Book.
Tesla did not immediately respond to a Fox News Digital request for comment.
Congressional Democrats prepare to probe role of Musk's Grok in Venezuelan operation
As Democrats prepare to unleash a wave of subpoenas and investigations when they take a Congressional majority in January, Elon Musk will be squarely in their crosshairs.
A Washington Post report claims that they are preparing to investigate President Donald Trump's use of the AI chatbot Grok, an Elon Musk creation, in the the Venezuelan operation that saw special forces capture and extract former Venezuelan president Nicolás Maduro and his wife Cilia Flores.
Private law firms are already pitching Musk on serving as his primary counsel as they anticipate Democrats putting Congressional pressure on the world's richest man.
Musk, who spent $474 million to largely help boost Republican candidates in the midterms, may just be one piece of the incoming Congress' highly charged oversight gameplan.
The Post reports that Democrats are widely expected to scrutinize Silicon Valley and tech companies broadly, with Apple and Meta listed as other potential marks.
Trump says he's '100% in favor of' artificial intelligence after major selloff
President Donald Trump, perhaps in a bid to restore investor confidence, said Friday morning that he is "100% in favor of Super Intelligence (SI)" after Thursday’s steep selloff in tech and AI stocks.
He also said he will work with states that "want to become rich" by building out artificial intelligence infrastructure.
He described the technology as "GOLD" and called it "foolish" of leaders to reject it. Trump has long backed data center expansion, while many Democrats have been more skeptical — a divide that could put the new Congress at odds with the White House.
AI shares bounce in premarket trading but remain below Thursday’s levels
AI stocks took a beating Thursday, with some suffering double-digit losses, but several of the biggest losers were edging higher in premarket trading Friday.
Chipmaker AMD was among the hardest hit, plunging more than 17% Thursday. It was up roughly 7.5% before the opening bell Friday.
Nvidia and Broadcom, which each fell about 10% Thursday, were up roughly 3% and 4.5%, respectively, in the premarket.
Intel too was down more than 10% and had recovered more than half of those losses this morning.
Alphabet, Meta and SpaceX were also among the stocks that fell Thursday but were showing tentative gains ahead of the bell.
AI stocks sink as Nasdaq enters correction on data center fears
Artificial intelligence stocks suffered steep losses Thursday, pushing the Nasdaq into correction territory as investors worried that tougher restrictions on data center construction could threaten the industry's rapid expansion.
The Nasdaq Composite fell 5.5% in late trading, putting it more than 10% below its recent record, while the S&P 500 dropped 4.3% and the Dow Jones Industrial Average shed more than 1,800 points, according to CNBC.
AI chipmakers Nvidia and Broadcom each tumbled roughly 9%, while Oracle lost 7% and cloud computing company CoreWeave declined 11%.
The selloff followed sweeping Democratic midterm victories that raised concerns about potential limits on new data centers, adding uncertainty to the billions of dollars technology companies are investing in AI infrastructure.
Covered by: James Cirrone, Brittany Miller and Robert McGreevy