Trump backs AI as 'Super Intelligence' amid market slump; FTSE 100 drops, Nvidia rebounds
US President Donald Trump reaffirmed his support for artificial intelligence on Friday, calling it "Super Intelligence" and saying it will bring "great riches," as global stock markets continued to fall sharply over fears that Democratic election wins could slow the AI boom. The market rout deepened after Democrats gained control of Congress, raising the prospect of tighter AI regulation and pauses on data centre construction. The FTSE 100 suffered its worst decline since March, while US tech stocks partially recovered in early trading after Thursday's heavy losses, with Nvidia opening up 5.7 percent. Consumer sentiment in the US improved in early November, but confidence among wealthy investors fell amid growing anxiety over a possible AI bubble. Short-sellers have earned over $30 billion this week betting against AI stocks, while activists in Amsterdam protested at a Microsoft data centre site.