Friday’s close: The Nasdaq rose about 1.1% and the S&P 500 gained 0.3%, while the Dow fell 0.5%. The rebound wasn’t enough to erase the losses from earlier in the week.

Why AI stocks crashed: On Thursday, the S&P 500 fell more than 4%, its worst day since the April 2025 tariff crash, wiping out about $3 trillion. Democrats won control of Congress, and candidates from both parties had campaigned against AI data centers, sparking fears that new rules could slow the AI building boom.

Chip stocks bounce back: After the chip index dropped 12% on Thursday (its worst day since 2020), it recovered 4% on Friday. Nvidia jumped about 6% after a 9% drop, and AMD rose 8% after losing 17%. Tech and energy stocks still ended the week down 7% and 11%.

Anthropic’s IPO feels the heat: Investors are now valuing Anthropic’s upcoming IPO at around $1 trillion to $1.3 trillion, down from the $2 trillion expected just last month. The IPO, planned for later this month, could also be delayed.

Strong jobs report: The US added 165,000 jobs in October, far above the roughly 65,000 expected, and unemployment dipped to 4.1%. This makes a Fed interest rate hike in December more likely.

Other big news: Tesla will stop making the Cybertruck around mid-2027 to make room for its Cybercab robotaxi. Analyst firm Yardeni called the AI sell-off an overreaction and a “buying opportunity.”

What launched: Spaces is a new Muse feature where you describe what you need in chat, and Muse builds it for you as a tracker, planner or project board. Meta calls them “custom experiences.”

How it works: Each Space is a separate chat focused on one topic, living in Muse’s sidebar. Inside it, Muse works toward that goal for you, like a holiday gift tracker, a wedding planner or a DIY project board.

Updates itself: Spaces can connect to third-party apps and services, so they stay current with things like price changes or event dates instead of being static lists.

Who can use it: It’s rolling out to all Muse users, powered by a specialized version of Meta’s Muse Wonder AI model. Meta is also exploring ways to let people share and collaborate on Spaces.

The bigger picture: It’s Muse’s second new feature in a week, coming a day after Muse Voice added video chat with the AI avatar. Muse reached 10 million users in the US and Canada less than two months after launch, and it competes with OpenAI’s Dots and SpaceXAI’s Grokbot.

What launched: On November 6, Amazon opened text-message access to Alexa for Shopping, its AI shopping agent. It starts with a small invite-only group of US customers, with millions more expected over the coming weeks.

How it works: You text a phone contact called “Alexa Shopping” with a request, or send a photo of a recipe or outfit, and it replies with options. It can also reorder past purchases, track price drops and check package status.

Buys for you: It can place orders with your approval, or buy automatically once a price hits a target you set. It also learns your preferences over time, like dietary needs.

Works everywhere: A request started by text carries over to the Amazon app, Amazon.com and Alexa devices, and the other way around.

Ads in your texts: Sponsored products can show up in its replies, though Amazon isn’t charging advertisers for these spots yet.

The bigger picture: More than 400 million customers used Alexa for Shopping in the past year, and CEO Andy Jassy expects it to become the main way people buy from Amazon. The move comes right after Amazon blocked Meta’s Muse agent from shopping its store, as OpenAI and DoorDash also push text-based ordering.

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