Good morning. AI’s financing worries took center stage as the Nasdaq fell 2.9% on Friday. Intel dropped about 28% after a weak fourth-quarter forecast that it linked to AI-driven memory costs and a PC slowdown.
Elsewhere, the Financial Times reports Blackstone now expects Anthropic to receive a high speculative-grade rating after its IPO, and Nvidia is reportedly weighing a guarantee on debt for Nscale’s West Virginia data center. Our chart of the week lines up Big Tech’s capital spending against its free cash flow, and two explainers cover Meta’s Segment Anything model and why unified memory matters for AI laptops.