Stock Market Update
November 6, 2025
UPGRADES
Microsoft on Thursday said it’s forming a team that will be tasked with performing advanced artificial intelligence research.
Mustafa Suleyman, CEO of the Microsoft AI group that includes Bing and the Copilot assistant, announced the formation of the MAI Superintelligence Team, and said in a blog post that he’ll be leading it.
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“We are doing this to solve real concrete problems and do it in such a way that it remains grounded and controllable,” Suleyman wrote. “We are not building an ill-defined and ethereal superintelligence; we are building a practical technology explicitly designed only to serve humanity.”
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The decision comes months after Facebook parent Meta spent billions to hire talent for its new Meta Superintelligence Labs unit that’s working on research and products. The term superintelligence typically refers to machines deemed more intelligent than the smartest people.
DOWNGRADES
U.S. stocks retreated on Thursday as companies that have benefited from the artificial intelligence trade came under pressure yet again amid concern about their eye-watering valuations.
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The Dow Jones Industrial Average slid 309 points, or 0.7%. The S&P 500 traded down by 0.9%, while the Nasdaq Composite tumbled 1.5%. The Nasdaq 100 was down more than 2% since last Friday’s close and is on pace for its worst week since early April. The biggest downside impact came from Nvidia, Microsoft, Palantir Technologies, Broadcom and Advanced Micro Devices.
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AI stocks have moved unevenly since the start of November, and that continued in Thursday’s session. Qualcomm shed 3% after the chipmaker posted better-than-expected quarterly results but said it may lose future business with Apple. AMD, a standout on Wednesday, lost 6%, while Palantir and Oracle declined 6% and 2%, respectively. Shares of AI darling Nvidia and fellow “Magnificent Seven” name Meta Platforms sank as well.
NEWS
Airlines rushed to provide travelers updates after the Federal Aviation Administration said it would reduce flights across 40 airports as the longest government shutdown in history continues to drag on.
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Many major airlines said they would waive cancellation fees for even their most basic tickets, which often come with penalties for changes.
Transportation Secretary Sean Duffy previously said he would reduce flight capacity by roughly 10%, affecting 3,500 to 4,000 flights daily.
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The FAA has not yet announced which “high traffic” airports would be affected.
These are the airports that are expected to be impacted, based on preliminary information before the agency meets with airlines to finalize cuts, CNBC’s Phil LeBeau reported.
The preliminary list includes some of the country’s largest airports and major international hubs in Atlanta, Chicago, Dallas, Los Angeles and New York City.