The situation is not the worst possible, but it is time for investors to worry, says co-founder of Oaktree Capital Management

"Temporary insanity": why does Howard Marks think there's no market bubble yet?

NVIDIA Corporation

Meta Platforms, Inc.

Microsoft Corporation

Nvidia's report this week lowered anxiety around a possible AI bubble by 24 hours. Alphabet shares hit a record high thanks to its powerful AI model Gemini 3. Tech giants Microsoft and Nvidia, as well as Claude's chatbot developer Anthropic, announced strategic partnerships, strengthening their position in the AI race. A court in the US dismissed a major antitrust lawsuit for the first time, finding Meta's acquisitions of Instagram and WhatsApp legal. The main events from November 17 to 21 - in our review.

Highlights of the week: Nvidia report, Alphabet's record, crypto's fall

The S&amp;P 500 rose almost 1% in trading on November 21

Citi has exited a long position in the S&amp;P 500. Should we follow suit?

Siemens Energy AG

Schneider Electric S.E.

Markets are headed for their worst weekly performance since April

European and Asian stocks fall amid returning fears of an AI bubble

Alphabet Inc.

Tuesday, November 18 saw <a href="https://blog.google/products/gemini/gemini-3/">the</a> long-awaited launch of Gemini 3, Google's new version of AI, which has generated quite a bit of hype and rumors over the past month. Apparently, the rollout is going well and user feedback is mostly positive. That gave a boost to shares of parent company Alphabet, which were already up when it was revealed that they were <a href="https://www.cnbc.com/2025/11/14/warren-buffetts-berkshire-hathaway-reveals-new-position-in-alphabet.html">bought by</a> legendary investor Warren Buffett's Berkshire Hathaway fund in the third quarter. There is an interesting twist in the frenzied AI race: Gemini is clearly challenging the previously undisputed leader ChatGPT from OpenAI.

Okay, boomer: why Google is back in vogue

Bridgewater investment firm founder Ray Dalio <a href="https://www.cnbc.com/2025/11/20/ray-dalio-ai-bubble-sell-market-stocks.html">warned</a> on CNBC that spending on artificial intelligence is forming a bubble in the market.

Billionaire Dalio warned that "we're in the bubble zone." What does he suggest we do?

Bank of America Corporation

International Business Machines Corporation

Zillow Group, Inc.

All of the companies in Goldman's sample have high employee costs and are already implementing AI to improve productivity

Goldman: banks and traditional companies will be the beneficiaries of the next phase of the AI boom

Nvidia beat Wall Street forecasts by announcing record demand for its Blackwell architecture and growing data center revenue, boosting its stock and supporting the AI sector. Block unveiled an ambitious three-year outlook with accelerating earnings growth and an expanded buyback program, causing the stock to jump 9%. These and other topics - in our review of key events by the morning of November 20.

Highlights for the morning: Nvidia beats forecasts, gold and oil react to Fed and sanctions

Alphabet securities rose by almost 7% in trading on November 19

Alphabet's stock has hit an all-time high. What does Wall Street like about its new AI model?

A spike in memory chip prices will further complicate the economics of building infrastructure for artificial intelligence

Counterpoint warned of the risk of prices doubling for memory for Nvidia's AI servers

UnitedHealth Group Incorporated

Brookfield Renewable Corporation

Norfolk Southern Corporation

They are shifting their focus to health care, manufacturing and materials, which benefit from structural changes in the economy

AI stocks have come under pressure. Which sectors are now favored by managers?

A breakthrough quarter, getting a third of all cloud providers' investments in AI, record revenue growth, and future growth drivers - what analysts are writing ahead of Nvidia's third-quarter reporting.

Artificial intelligence (AI)