00:01Finance is dealing with what could be the largest cryptocurrency hack in history,
00:06reporting an estimated $6.3 billion in impacted client assets. The exchange says approximately
00:13$3 billion has been frozen on chain, including more than $800 million in USDC frozen by Circle
00:20and over $1.5 billion in USDT frozen by Tether. Bitcoin fell below $80,000 as the breach rattled
00:28crypto markets. Binance says it will cover all losses using its Emergency User Protection Fund
00:34and company resources, while temporarily suspending withdrawals as it strengthens security.
00:40The exchange says customer funds are safe and is working with law enforcement and blockchain
00:45investigators to recover the assets. Microsoft has priced a $25 billion debt offering as the
00:52technology giant continues investing heavily in artificial intelligence and cloud infrastructure.
00:59The offering includes bonds with maturities ranging from 2028 all the way to 2066. Microsoft says
01:06proceeds will go toward general corporate purposes, potentially including capital expenditures,
01:12acquisitions, stock buybacks, and repayment of existing debt. The massive offering comes as big
01:18tech companies face growing pressure to finance the enormous costs of building AI infrastructure.
01:26President Trump's push to replace the term artificial intelligence with superintelligence
01:31is finding support among some of his biggest technology allies. Elon Musk and Meta CEO Mark Zuckerberg
01:37used the terminology on their company's recent earnings calls, with Musk referring to advanced AI
01:43AI as SI, and Zuckerberg describing Meta's goal of delivering personal superintelligence. But other
01:50major tech executives, including the leaders of Amazon, Microsoft, and Alphabet, continued using the
01:56familiar term AI. The divide shows Trump's preferred language is gaining traction in some corners of the
02:02industry, but has not yet been universally embraced by corporate America. Alphabet suffered its worst trading
02:10day since going public, with shares plunging 12.6 percent on Thursday and wiping out approximately
02:16$482 billion in market value. The sell-off followed slower-than-expected Google search growth,
02:23which rose 12 percent in the third quarter to $63.35 billion, below analysts' expectations.
02:31Bank of America now values Google's search business at roughly 10 times earnings, below the 13 times
02:37multiple assigned to the energy sector. Meanwhile, Google Cloud revenue has more than doubled,
02:43but Alphabet's $51.4 billion in quarterly capital expenditures and negative $9.1 billion in free
02:51cash flow are raising questions about whether its massive AI investments will pay off.
