Fed's Goolsbee: Inflation has spread beyond the energy sector, and the Federal Reserve is not on track to return to the 2% inflation target.

Beating AI News Flash: According to a report from The Information, Elon Musk’s SpaceX AI division has laid off around 60 employees from the Grok Imagine video generation team, with the team already having undergone layoffs in prior months. Grok Imagine is the built-in image and short video generation feature of the Grok chatbot. xAI was merged into SpaceX in February 2026, after which its AI business was restructured into four segments: Grok Main and Voice, programming tools, Imagine, and Macrohard. Multiple co-founders and senior researchers have left the company since the merger. In September 2025, xAI cut approximately 500 data annotators.

According to data from the BIT Stock Platform, the Philadelphia Semiconductor Index’s decline widened to 5%. AMD (AMD.O) dropped 9.2%, Marvell Technology (MRVL.O) fell 7.6%, Broadcom (AVGO.O) and Intel (INTC.O) declined more than 5%, while NVIDIA (NVDA.O) slipped 3.3%.

According to the official page of Bybit WSOT 2026, the individual competition has officially launched, running until 18:00 Beijing Time on December 2. Participants can compete for a total prize pool of up to 2,000,000 USDT based on their trading profit and loss performance. Per the competition rules, the platform categorizes participants into three asset tiers based on their UTA balance: Lightweight, Middleweight, and Heavyweight. The top 400 participants in total profit and loss within each tier, who meet the corresponding trading volume requirements, are eligible to split the respective prize pool. Specifically, the Lightweight tier requires a balance of 100 USDT to 2,000 USDT, Middleweight ranges from 2,000 USDT to 10,000 USDT, and Heavyweight is 10,000 USDT and above. The leaderboard ranks participants by total profit and loss, calculated as: Ending Balance ? Opening Balance ? Deposits + Withdrawals. After the official competition starts, registered UTA accounts must maintain a balance of at least 100 USDT to qualify for leaderboard ranking.

According to market sources, a US lawmaker has issued a second request to Jensen Huang, asking him to brief Congress.

Beating AI Insight News Brief: OpenAI has launched ChatGPT Wallet, enabling its "dots" AI agents to shop on users’ behalf with their authorization. The feature is initially available to ChatGPT Pro subscribers aged 18 and above in the U.S. OpenAI rolled out the feature in partnership with American Express, Mastercard, and Visa, noting that cardholders will retain their existing credit card rewards and purchase protections. Eligible users only need to input their card details once to let the agents search for products, though every payment requires the user’s confirmation via security verification. OpenAI stated that the agents will not access users’ actual card information; instead, payment networks will issue unique transaction-specific payment tokens, each containing a one-time card number, security code, and expiration date. The company added that ChatGPT Wallet will not charge transaction fees during its initial launch phase, with the current priority on building partnerships with merchants and payment networks. This marks OpenAI’s next step in extending the shopping process to payment, following its revamp of product search and price comparison functions in March this year. As of the end of the third quarter, ChatGPT boasts over 1.2 billion weekly active users and nearly 100 million paid subscribers. Merchants remain divided on AI agent-based shopping assistance: United Airlines will block AI agents from accessing its booking system, while Amazon does not allow agents to place orders on its platform. Alongside the announcement, OpenAI released merchant-facing tools and guidelines to help businesses check if their websites are inadvertently blocking its AI agents.

According to data from the BIT Stock Platform, all three major U.S. stock indexes turned lower: the Nasdaq fell more than 1%, the S&P 500 dropped 0.6%, and the Dow Jones Industrial Average declined 0.06%. The Philadelphia Semiconductor Index extended its loss to 4.2%, with AMD (AMD) slumping over 8%, Marvell Technology (MRVL), Broadcom (AVGO), and Arm (ARM) falling more than 5%, Intel (INTC) down 4.4%, Micron Technology (MU) declining 4%, and NVIDIA (NVDA) dropping 2.5%.