Selloff, Cash, and Cameras: the week the market tested AI, OpenAI raised 11 billion, and Google handed you a video studio

Thursday was one of the worst days the market has seen since April 2025. Friday gave some of it back. Saturday is for looking at the week straight, without the noise.

This week tested the story that has carried the market all year. The story was simple: spend whatever it takes on AI, and the money comes back later. On Thursday, investors finally asked when later is.

Thursday asked the question out loud

Thursday, November 5, the market fell apart in a few hours. The Dow Jones Industrial Average dropped 1,833 points, or 3.4 percent, and closed at 51,523. The S and P 500 fell 4.4 percent to 7,353. The Nasdaq Composite fell 5.5 percent to 24,315, its worst day in 19 months, and more than 10 percent below its recent record high. That puts the Nasdaq in correction territory.

Every one of the 11 sectors in the S and P 500 finished the day in the red. Chip stocks led the fall. Nvidia dropped 9.19 percent. AMD dropped 17.43 percent. Global markets lost about 5.5 trillion dollars in value across November 5 and 6.

Nothing about the technology changed on Thursday. What changed was the story investors told themselves about how fast the money comes back.

Friday morning, the Bureau of Labor Statistics released the October jobs report, and it was strong. Employers added 165,000 jobs in October. Forecasters expected 59,000. The unemployment rate fell to 4.1 percent from 4.2 percent. The prior 2 months were revised up by a combined 84,000 jobs.

So here is the honest read. The economy is hiring. The market still does not trust the AI spending bill. Both things can be true at the same time.

OpenAI raised 11 billion, and the number tells its own story

On Friday, Bloomberg and Reuters reported that OpenAI closed the first part of a new funding round: about 11 billion dollars wired, at a 1.25 trillion dollar valuation. The round has not finished. It could reach about 20 billion dollars in the coming weeks.

Read the numbers carefully, because the trend matters more than the headline. In September, OpenAI set out to raise 30 billion dollars or more at a 1.4 trillion dollar valuation. It cut the target to about 20 billion at 1.25 trillion. Even the biggest AI company on the planet is negotiating against a cooler market. OpenAI declined to comment on the reports, and its IPO, once talked about for 2026, now looks like a 2027 story.

This is not a prediction that AI is finished. It is a reminder that money has a price, even for the companies building the future. When the market stops handing out blank checks, the companies that survive are the ones that can show real revenue and real customers.

That is a lesson for builders too. If OpenAI has to prove the math, so do you.

Bitcoin stayed quiet while stocks screamed

Crypto did not panic, and it did not rally either. Bitcoin sits at 75,724 dollars, down 0.23 percent in the last 24 hours. Ethereum is at 2,232 dollars and 36 cents, down 0.09 percent. The total crypto market is worth about 2.56 trillion dollars. Bitcoin holds 59.3 percent of that total. The fear and greed index reads 41, which is fear.

After a week when stocks lost trillions, Bitcoin barely moved. It did not rescue anyone either.

My view has not changed. Bitcoin is a long term position for people who understand what they own, not a trade to make because the news looks scary. Do not buy it on a red day because you feel brave, and do not sell it on a red day because you feel afraid.

Google just handed you a video studio

On November 5, Google made Gemini Omni 1.2 Flash generally available. It is an AI video model, and the upgrade is practical in a way most AI news is not.

First, it makes videos up to 15 seconds long, up from 10 seconds. You can pick any length from 3 to 15 seconds, in 1 second steps. That is long enough for a complete product spot, a short explainer, or a full social ad in a single generation.

Second, it costs 30 percent less than the previous version: 7 cents per second for 720p video. A 15 second clip costs about 1 dollar and 5 cents.

Third, you can edit a clip by talking to it. Change the product, change the lighting, change the camera angle, and the model revises the same clip instead of starting over. It also follows your reference images more closely, so a product or a character stays consistent from shot to shot. Outputs carry an invisible SynthID watermark so people can tell the video was made by AI.

It is available through the Gemini API, Google AI Studio, Google Vids, and the Flow app. You can try it in Google AI Studio today, in your browser, with no setup.

What you can do with it today

Here is a workflow you can copy this weekend.

1. Open Google AI Studio in your browser and pick Gemini Omni 1.2 Flash.

2. Take one clear photo of your product, your service, or yourself at work. Upload it as the reference image.

3. Write one plain sentence describing the video you want. Example: “A 10 second video of this coffee mug on a wooden table, morning light, camera slowly moves closer, steam rising.”

4. Generate it, watch it, then edit it in conversation. “Make the light warmer.” “Slow the camera down.” Each edit revises the same clip.

5. Post the best version where your customers already are. One short video, one product, one clear next step for the viewer.

That is it. No camera, no editing timeline, no budget meeting. If you sell something, make a 15 second video of it this weekend. If you teach something, make a 15 second video that shows the result, not the theory.

The tool is not the business. The business is the thing you show people, and whether it helps them. But the tool just removed the excuse that video is too expensive for someone starting from zero.

The uncomfortable truth

The market will keep testing the AI story, and the tests will keep getting harder. Money is getting more expensive. Investors are asking harder questions.

The companies that survive are the ones with real customers and real revenue, not the ones with the biggest promises.

That is good news for you. You do not need a 1.25 trillion dollar valuation. You need one product, one customer, and one honest video that shows what it does. Build that this weekend, while everyone else is arguing about the market.

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Henry Jenkins