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AI & Enterprise

No insurance fits AI firms as mega-lawsuit risk grows

As the AI industry expands rapidly, insurers are struggling to offer products that cover legal liabilities from AI safety incidents, according to reports cited in the article. Lawsuits over chatbot harms and copyright in model training are rising, and incidents involving out-of-control AI agents add to litigation risks. Some specialised coverage exists but with limited caps, while optional AI exclusions are spreading in policies. Brokers warn exclusions increase uncertainty and disputes.

Crypto

Asset manager Strive buys an additional 4,045 bitcoins, keeps buying with share funding

Asset manager Strive bought 4,045 bitcoins last week for about $335 million, lifting its total holdings to 36,818 BTC. It said it purchased the coins at an average $82,803 each from Oct. 12 to 16, including fees and expenses. The firm raised about $369 million through warrant exercises and issued 13.7 million common shares. Strive also announced a preferred share offering and its shares rose intraday.

Finance

Korean brokers face cloudy third-quarter results as trading turnover falls and rates rise

South Korean brokerages that posted record first-half results are expected to see a sharp slowdown in third-quarter earnings, hit by weaker brokerage revenue as stock trading turnover falls and by valuation losses in trading amid higher market rates and greater volatility. Investment banking is also seen offering limited support. Among five major firms, combined controlling shareholder net profit is forecast at about 1.063 trillion won, down 44.9 percent from a year earlier and 76.6 percent from the previous quarter.