On Thursday, Eastern Time, the three major US stock indices declined across the board. As of the close, the Dow fell by 797.60 points, or 1.65%, to 47,457.22; the Nasdaq fell by 536.10 points, or 2.29%, to 22,870.36; and the S&P 500 fell by 113.43 points, or 1.66%, to 6,737.49.

Tech stocks faced a severe sell-off, with most major tech stocks declining. As of the close, Tesla fell 6.64%, Intel fell 5.23%, Broadcom, Advanced Micro Devices, and Oracle fell over 4%, Nvidia fell 3.58%, Google Class A fell 2.84%, Amazon fell 2.71%, Microsoft fell 1.54%, Apple fell 0.19%, while Meta closed up 0.14%.

According to media reports, Elon Musk's artificial intelligence company xAI has raised $15 billion in funding. This financing adds $5 billion to the previously reported $10 billion funding in September, valuing the startup at $200 billion. Sources said most of the funds would be used to purchase GPUs supporting large language models. However, Musk later responded on his social platform X, stating that the above news was false.

On November 13, Michael Burry, the原型 of the movie "The Big Short," posted on social platform X that the SEC registration status of his hedge fund, Scion Asset Management, had been terminated. In the post, Burry also disclosed details of his short positions in Nvidia and Palantir, revealing that he spent approximately $9.2 million on Palantir put options, not the $912 million reported by the media. Burry also announced that important news would be released on November 25.

Previously, media reports indicated that the third-quarter holdings report disclosed by Burry's hedge fund, Scion Asset Management, showed the fund held put options with a notional value of over $1 billion (accounting for 80% of its total assets), betting against Nvidia and data analytics company Palantir. Specifically, the Palantir put options were valued at approximately $912 million, and the Nvidia put options at about $187 million.

Most popular Chinese concept stocks declined, with the Nasdaq Golden Dragon China Index closing down 1.59%. Pony.ai fell over 7%, Baidu fell over 6%, Bilibili fell over 4%, XPeng Motors and NIO fell over 3%. Alibaba closed up 1.22%. Reports suggest that Alibaba has secretly launched the "Qianwen" project, developing a personal AI assistant app of the same name based on the Qwen model, directly competing with ChatGPT. An international version of the Qianwen App for the global market is also under simultaneous development, aiming to leverage the overseas influence of the Qwen model to directly compete with ChatGPT for international users.

Additionally, on the morning of November 14, Beijing time, Japanese and South Korean stock markets opened sharply lower. As of the time of writing, the Nikkei 225 fell 1.73%, and the South Korean KOSPI index fell over 2%.