rating

The Solana-based token issuance platform Pump.fun announced on X that it has partnered with the on-chain perpetual contract protocol Hyperliquid to launch perpetual contract features within the Pump.fun application.Pump.fun stated that users can directly use their USDC balance within the app to go long or short on cryptocurrencies, stocks, and commodities without the need for cross-chain bridging. This feature is powered by Hyperliquid's on-chain perpetual contract engine for trading.

Fitch Ratings stated that a significant reassessment of the long-term monetization prospects of artificial intelligence could lead to a reduction in capital expenditures and impact the entire artificial intelligence value chain.

According to Decrypt, James Comer, the Chairman of the House Oversight Committee (Republican from Kentucky), has launched an investigation into a proposed company entity in Delaware that would be operated daily by AI entities.In a letter to Delaware Governor Matt Meyer, Comer stated that the proposed "Artificial Intelligence Company" (AIC) could exempt AI companies and their investors from liability for damages caused by AI entities, and he requested the governor to submit relevant documents and communications, including "internal AI chat logs," by November 9.The proposal was announced in July in a joint article in Fortune by Delaware Secretary of State Charuni Patibanda-Sanchez and Norm Ai CEO John Nay, positioning it as a public-private partnership led by Norm Ai.By design, the AIC could sue and be sued, hold property, and assume obligations under the direction of AI entities; its sole member must maintain sufficient capital and is not liable for the company's debts except in cases of incomplete capitalization, fraud, or willful misconduct. The AIC can only operate within a regulatory sandbox for 30 months, must disclose its identity to counterparties, and is prohibited from conducting banking activities.Comer also questioned the role of private sector participants in the proposal, stating that the Delaware AI Commission's report due in December 2025 did not mention a security risk assessment or consult independent experts, and the Secretary of State's office refused to clarify its relationship with an AI company involved in the project.He stated that this information could inform federal legislation, including proposals to limit state-level AI regulatory initiatives. The Secretary of State's office denied that the plan is a liability waiver arrangement, and Governor Meyer defended it, with state legislators expected to review the legislative proposal in January.

Fitch Ratings stated that SpaceX's "BBB+" rating remains unchanged due to the GPU leasing transaction.

At the same time, the company signed a basic cooperation agreement for lightning network routing business with ALC, using the BTC held by ALC as the liquidity for the channels operated by the company, jointly building local routing infrastructure in Japan. The raised funds will be used to pay for infrastructure development, talent recruitment, routing business, and research and development, with a focus on promoting the lightning payment service "aurora" that can be accessed through the existing payment systems of merchants via API.

According to a report by China News Service citing Reuters on the 27th, the latest poll from Reuters/Ipsos shows that just before the U.S. Congressional midterm elections on November 3, President Trump’s public approval rating has slightly risen to 32%, an increase of 1 percentage point from last week’s historic low.The poll indicates that if the Congressional elections were held now, 47% of registered voters would support the Democratic Party, 36% would support the Republican Party, and about 11% are uncertain about which party to support. The gap between the two parties is 11 percentage points, narrowing by 1 percentage point from the Reuters/Ipsos poll that ended on October 19.This five-day online poll collected feedback from 1,679 American adults, including 1,280 registered voters. The sampling error for all adult respondents is 2 percentage points, and the sampling error for registered voters is 3 percentage points. The report states that the Republican Party is striving to maintain its majority in the House of Representatives and the Senate.

Moody's has assigned an A2 long-term deposit rating and a P-1 short-term deposit rating to the stablecoin RLUSD issued by Ripple, covering the rating range for RLUSD natively issued on the XRP Ledger and Ethereum.According to The Defiant, this rating incorporates the reserve backing arrangements of RLUSD in its assessment and weighs the risk exposure for holders due to the issuer's bankruptcy. The rating also applies to the native RLUSD assets on both of the aforementioned chains.

Coinbase CEO Brian Armstrong posted on the X platform that all asset classes are migrating on-chain. Tokenized stocks and stablecoins are rapidly growing, and more tokenized assets will emerge in the future.Armstrong stated that Coinbase will continue to drive the upgrade of the financial system. The Blockworks chart he shared shows that the total supply of tokenized stocks has reached $3.75 billion, with a total of 1,501 stocks being tokenized.

According to the official announcement from Genius, the Genius App has been launched and provides download links for the App Store and Google Play, integrating trading, social, and creation functions within the BNB Chain ecosystem into mobile.Users can trade via their phones, follow other traders, discover market-focused assets, and share trading insights. The app also includes a token issuance platform, allowing users to create tokens, choose trading pairs, and track new markets.

The Shanghai Municipal Economic and Information Technology Commission issued the "Action Plan for Accelerating the Development of a New Generation of Intelligent Manufacturing in Shanghai." The plan proposes to strengthen the industrial network and computing power infrastructure, support manufacturing enterprises in carrying out new industrial network transformations, promote the integrated evolution of control systems, industrial networks, and computing power facilities, and advance the pilot projects for industrial 5G/EUHT independent private networks.The plan also proposes to support the deployment of high-quality networks such as 5G-A and 10 Gigabit optical networks, accelerate breakthroughs in AI high-performance chips, and expedite the construction of a "hub-region-edge" computing power facility system. At the same time, it aims to strengthen the overall scheduling of intelligent computing resources, accelerate the construction of national computing power interconnection nodes, promote standardized access and on-demand invocation of computing power resources, and advance the inclusive supply actions of computing power services, enhancing the efficiency of the industrial intelligent computing cloud platform.

NVIDIA (NVDA.O) and Meta are considering collaboration on the OpenShell reference architecture and NVIDIA Sentry.

According to a report by Reuters, the American AI hardware startup Unconventional AI announced the acquisition of the Israeli AI chip company NeuReality through a combination of cash and stock, with the transaction amount not yet disclosed.Unconventional AI completed a $475 million financing round last December, at which time the company's valuation reached $4.5 billion. The company is dedicated to developing energy-efficient AI chips inspired by biological systems and is using AI tools to accelerate the research and development process. It has completed its first test chip, and the second one is also nearing completion.

According to Polygon, the Miden partner mainnet is now live and connected to Polygon's cross-chain aggregation layer Agglayer, which can access the liquidity of the entire blockchain ecosystem.Miden officials also announced that the network is operational on the partner mainnet.

According to Zhitong Finance, JPMorgan analyst Samik Chatterjee maintains a "Buy" rating on Microsoft with a target price of $625. The research report states that investors will closely monitor the business growth of Azure, the commercial version of Microsoft 365 Cloud, and Copilot.Chatterjee indicated that compared to the quarterly earnings report itself, the stock price reaction may be more determined by performance outlook, as investors hope to see sustainable signals of growth in cloud business and artificial intelligence.Yorkville Ives analyst Dan Ives maintained a "Outperform" rating on Microsoft with a target price of $615 on Friday, and listed Microsoft as one of his "Top 5 Tech Picks Before 2027." Ives stated that the concentrated earnings reports from large cloud providers like Microsoft, Alphabet, and Amazon are expected to soothe the highly volatile market.

On October 23, Swedish automaker Volvo Cars announced an additional layoff of 2,500 employees, equivalent to 6% of its total workforce. The financial report released on the same day for the period from July to September 2026 showed an operating loss of 5.5 billion Swedish Krona, compared to a profit of 6.4 billion Swedish Krona in the same period last year; sales fell 23% year-on-year to 66.8 billion Swedish Krona; the final profit and loss was a loss of 4.8 billion Swedish Krona, compared to a profit of 5.1 billion Swedish Krona in the same period last year. The company's stock price once dropped by 30%.The financial report indicated that sales in the Chinese market fell by 41%, and global sales declined by 11%, mainly affected by weak sales in the Chinese and American markets. The sluggish sales of high-end models and the increased proportion of lower-priced models led to a deterioration in profitability, and the impairment losses from fuel consumption credits due to the relaxation of decarbonization regulations in the U.S. also dragged down profitability. Volvo Cars CEO Håkan Samuelsson stated at a press conference on the same day that the old strategy of developing global models in Europe and then selling high-end cars in China is no longer viable; that era has ended.

According to the "Science and Technology Innovation Board Daily," South Korean memory chip companies SK Hynix and Samsung Electronics will announce their performance for the third quarter of 2026 this week, with SK Hynix set to release on Wednesday and Samsung Electronics on Thursday. The report states that with the rising demand for AI chips and increasing prices for memory chips, both companies are expected to deliver strong results, with a combined operating profit for the third quarter projected to reach 184.4 trillion won, approximately 139.1 billion dollars.Samsung Electronics' preliminary results released on October 8 show that third-quarter revenue increased by 127% year-on-year, reaching 195 trillion won; operating profit was 107.4 trillion won, approximately 80.17 billion dollars, compared to 12.17 trillion won in the same period last year, an increase of nearly 8 times. Analysts surveyed by FnGuide expect SK Hynix's third-quarter revenue to be 98.2 trillion won, with operating profit at 77 trillion won. In 2025, Samsung and SK Hynix's operating profits are projected to be 43.6 trillion won and 47.2 trillion won, respectively, totaling 90.8 trillion won. If these predictions come true, Samsung will become the first South Korean company to exceed 100 trillion won in quarterly operating profit.As of the market close on October 23, the stock prices of Samsung and SK Hynix have fallen by 36% and 52%, respectively, since the end of June. The report indicates that investors view the impressive financial reports as expected, with focus areas including HBM4 supply, long-term agreements, and shareholder returns. TrendForce predicts that the average selling price of HBM will increase by 121% next year compared to this year, and the production capacity of Samsung and SK Hynix for next year is already sold out. In the second-quarter financial report, Samsung disclosed long-term agreements with five data center customers, while SK Hynix finalized multi-year contracts with over ten customers. Samsung announced a shareholder return plan of 90 trillion to 110 trillion won this year and will determine a cash dividend of about 30 trillion won for the third quarter by the end of this month. SK Hynix announced a 40 trillion won buyback plan in August and halted the evaluation for Solidigm's IPO. Kim Dong-won, head of KB Securities, stated that despite the significant stock price correction, the profit expectations for both companies have been raised, and the key catalyst for stock revaluation is expected to be the sustainability of profit growth and whether shareholder returns can be further increased.

The National Information Security Vulnerability Sharing Platform (CNVD) released a security announcement titled "Analysis and Repair Suggestions for PHP Remote Code Execution Vulnerability," in which it supports affected users to closely monitor official information, download and update to the latest version through official channels. Users who are temporarily unable to update can take measures to reduce certain attack vectors, mitigate vulnerability threats, and continuously monitor for abnormal PHP process exits, abnormal system command calls, unfamiliar process creations, and abnormal file writes, while retaining logs for traceability analysis.In its protection recommendations, CNVD stated that information system operating units should further strengthen security protection, comprehensively sort out their network assets, and reduce the public exposure of information systems according to the principle of not connecting to the internet unless necessary. Operating units that are currently unable to repair should take temporary response measures such as network isolation, network access restrictions, and taking unnecessary business systems offline.

The venture capital firm a16z published comments from co-founder Marc Andreessen on X regarding open-source AI. Marc Andreessen: If the only way for children to learn AI is to work at one or two companies, it would be hard for parents to accept.He also stated that in an open-source world, every child can understand how the relevant technology works. Without open-source, AI will inevitably be concentrated in one or two companies, or even directly in the hands of the government.Marc Andreessen also used the analogy of "government sushi," asking people to imagine "government AI," and stated that open-source is a safeguard to ensure this scenario does not become a reality in the future.

Recently, Sun Yuchen discussed his personal communication and life strategy role models in a conversation with Jin Ming, stating that he does not simply imitate one person, but is a "hybrid mix" of Elon Musk, Donald Trump, and Warren Buffett.Sun Yuchen mentioned an interesting coincidence that all three are alumni of his alma mater, the University of Pennsylvania. As he integrates the strategies of these three individuals, the outside world has begun to jokingly refer to the emergence of a "fourth giant," namely Sun Yuchen himself. In terms of specific strategy breakdown, he stated that his investment and risk control fully absorb the value investment philosophy that Buffett and Munger emphasize on fundamentals, bringing an old-school playbook into the crypto space, which instead creates a dimensional advantage.In terms of business growth and communication, Sun Yuchen pointed out that Musk compensates for Buffett's shortcomings in technology narratives and expectation-driven approaches, forming a dual drive of fundamentals and high-tech high growth. Regarding personal branding and communication, he mainly draws inspiration from Trump, even admitting that he initially learned spoken English by following Trump's show "The Apprentice."Sun Yuchen also shared an interesting anecdote, stating that there is actually a "mutual disdain law" among these three. For example, when he once suggested to Buffett during dinner that he acquire Tesla during its low point, Buffett declined, as he believed that if a company is too disruptive and full of "surprises," it does not align with his investment style.