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SpaceX announced two new projects representing over 74 billion dollars in U.S. planned investments.

SpaceX plans to build a $50 billion supercomputing campus in Arizona, which will create 6,500 jobs.

SpaceX plans to invest over 24 billion dollars in the Rio Grande Valley for the construction of new supercomputing infrastructure.

According to CNBC, OpenAI raised 15 billion dollars, and the company's valuation reached 1.25 trillion dollars.

Tether announced that KPMG U.S. has completed an independent audit of the financial statements of TG Commodities, the issuer of Tether Gold (XAU₮), as of December 31, 2025, and issued an unqualified opinion. The audit shows that XAU₮ is fully backed by physical gold. This is the second stablecoin under Tether to complete an audit by one of the Big Four accounting firms, following Tether International, the issuer of USDT, in August of this year.During the audit, KPMG conducted a physical count and verification of each gold bar backing XAU₮, rather than relying solely on confirmations from custodians. As of December 31, 2025, TG Commodities holds 520,089.350 ounces of pure gold, valued at $2.246 billion, corresponding to the issued 520,089.300 XAU₮.The gold is stored in Swiss vaults and meets the London Good Delivery standards, with ownership belonging to the token holders, where each token corresponds to an indivisible ownership of specific gold bars. The company also hires an independent third party to conduct quarterly sampling tests of the gold bars.CEO Paolo Ardoino stated that XAU₮ is expected to become the first true competitor in the gold ETF market, as gold can be settled instantly, with lower custody costs and higher transparency. CFO Simon McWilliams mentioned that auditing the largest and most complex USDT and XAU₮ is paving the way for a comprehensive audit of the entire company.

AI cloud computing company Nebius announced its third-quarter financial report, with revenue increasing by 571% year-on-year to $981 million, exceeding market expectations by about 8%; adjusted EBITDA reached $466 million, also higher than the expected $357 million. However, the company expects its full-year revenue for 2026 to fall at the lower end of the guidance range of $3 billion to $3.4 billion, below the market expectation of about $3.37 billion.What draws more market attention is that Nebius expects capital expenditures in 2027 to reach $40 billion to $45 billion, while providing a revenue outlook of $12 billion to $13 billion, approximately four times that of 2026. The company stated that customer prepayments and investment-grade contract asset-backed financing are expected to cover 75% to 85% of next year's capital expenditures, with the scale of prepayments expected to increase from about $10 billion this year to $17 billion to $20 billion.The company's CEO stated that since the third quarter, the total value of newly signed contracts has exceeded $12 billion, with Databricks, Datadog, Palantir, and Snowflake all signing multi-year agreements with the company for the first time. Despite significantly exceeding expectations, the full-year revenue guidance fell short of expectations, and the capital expenditure plan of up to $45 billion next year has raised market concerns about AI infrastructure expansion and financing pressures.

According to Glassnode data, as of November 9, the total supply of major stablecoins has decreased by approximately $14.2 billion over the past 30 days, marking the largest monthly decline since June 2022, surpassing the $9.5 billion drop that occurred when Bitcoin fell below $58,000 in July of this year. Glassnode indicates that the contraction in stablecoin supply means that holders are redeeming stablecoins for US dollars and withdrawing from the crypto market, leading to a reduction in liquidity available to drive market rallies.Among them, the largest stablecoin USDT is currently trading slightly below the $1 peg, which Glassnode attributes to investors continuously exiting the stablecoin market. CryptoQuant data shows that the demand for Bitcoin has decreased by 284,000 coins over 30 days, marking the largest decline since March 2025; the Coinbase Bitcoin premium index fell to -0.27% on October 29, the lowest level since November 2022, and as of Wednesday, it remains in negative territory, reflecting relatively weak demand and significant selling pressure in the U.S. market.

According to Coinglass data, if BTC breaks through $77,108, the cumulative short liquidation intensity on major CEXs will reach $1.283 billion. Conversely, if BTC falls below $70,268, the cumulative long liquidation intensity on major CEXs will reach $1.185 billion.

According to Bloomberg, investment firm Norwest, backed by Wells Fargo, has raised $4 billion for its latest fund. The fund plans to invest in early-stage artificial intelligence startups, focusing on areas overlooked by other market participants.Including this new funding, the total assets managed by the firm have reached $18 billion. This is the 18th fund established by Norwest, with a significant increase in fundraising compared to the previous $3 billion in 2024. Norwest has a 65-year history and has previously invested in industry giants such as Uber Technologies Inc. and Spotify Technology SA.

SMIC released its third-quarter financial report. In the first three quarters, it achieved operating revenue of 60.618 billion yuan, a year-on-year increase of 22.4%; net profit attributable to the parent company was 7.314 billion yuan, a year-on-year increase of 91.6%.In the third quarter alone, the company achieved operating revenue of 21.983 billion yuan, a year-on-year increase of 28.1%; net profit attributable to the parent company was 2.847 billion yuan, a year-on-year increase of 87.6%. The overall sales revenue for the third quarter reached 3.19 billion USD, a quarter-on-quarter increase of 6.1%; the gross profit margin was 29.9%, an increase of 4.6 percentage points quarter-on-quarter. The performance changes were mainly due to the year-on-year increase in wafer sales, rising capacity utilization, and changes in product mix.The company expects a quarter-on-quarter revenue growth of 4% to 6% in the fourth quarter, with a gross profit margin guidance of 26% to 28%.

According to a report by Zhitong Finance, market research firm Omdia's latest "AI Software Market Forecast" indicates that global AI software revenue will exceed 200 billion USD by 2026, doubling in scale compared to 2024.Omdia pointed out that the demand for generative AI and agent AI is accelerating simultaneously, with generative AI revenue growth expected to reach 139% by 2026, significantly higher than previously anticipated.

According to The Wall Street Journal, chip foundry manufacturer TSMC announced on Tuesday that its board has approved an investment arrangement totaling no more than $1 billion, targeting artificial intelligence companies Anthropic and OpenAI. Among them, TSMC will subscribe to common stock of Anthropic for no more than $500 million at the initial public offering price, and invest no more than $500 million in preferred stock of OpenAI.On the same day, TSMC's board also approved the establishment of an investment company with no more than $500 million for strategic investments in the semiconductor industry and related ecosystems, and approved a capital budget of approximately $40.927 billion. This capital budget is allocated for advanced processes, advanced packaging, mature and specialty process capacity, factory and facility infrastructure, as well as the 2027 R&D capital budget, recurring capital budget, and capitalized lease asset budget. The subscription price per share for Anthropic is determined based on its IPO issuance price, and the investment target for OpenAI is the preferred stock of OpenAI Group PBC.

According to Protos, the world's largest stablecoin issuer Tether has an exposure of approximately $4.804 billion to the U.S. stock market through 13 publicly listed companies in the United States. The holdings are highly concentrated in three major companies: Bitcoin treasury company Twenty One Capital (approximately $1.367 billion), video platform Rumble (approximately $1.328 billion), and agricultural conglomerate Adecoagro (approximately $966 million).The remaining holdings include: Elemental Royalty (approximately $342 million), Bitdeer (approximately $249 million), Gold.com (approximately $148 million), Versamet Royalties (approximately $128 million), Metalla Royalty (approximately $115 million), Gold Royalty (approximately $106 million), Satellogic (approximately $39.65 million), Stablecoin Development Corp (approximately $4.9 million), Aurelion (approximately $4.4 million), and Antalpha Platform (approximately $3.1 million). Protos points out that Tether is leveraging its funds to make extensive investments across multiple industries and has dispatched its executives to relevant companies to hold positions.

According to Tom's Hardware, residents of Effingham County, Georgia, have sued OpenAI and local county officials, accusing them of secretly advancing a data center worth approximately $20 billion. The lawsuit is based on Georgia's extortion law, allowing the plaintiffs to seek triple actual damages, while also raising claims of fraud and conspiracy. The complaint states that the head of the county's industrial development authority signed a non-disclosure agreement with OpenAI in October 2025, about nine months before the project's public announcement.The complaint also alleges that the industrial development authority approved the arrangements with only Project Gateway listed on the agenda, and that the county commissioner allegedly skipped two statutory hearings when changing the zoning for industrial land. Local reports indicate that the project is named Project Camellia, which is proposed to be built by OpenAI's affiliate Octans GA on approximately 1,440 acres of land in the Savannah Gateway Industrial Park. The complaint was filed in Effingham County State Court on November 6, with plaintiffs Michelle Finch-Mincey, Lehman Mincey Jr., and Raymond Carver. A spokesperson for the county commission stated that they would not comment on pending litigation.

According to The New York Times, German industrial robot company Agile Robots has raised $500 million in a new round of financing led by SoftBank, with investors including Nvidia, bringing its valuation to $8.5 billion. Agile Robots founder Zhaopeng Chen stated that the funds will be used for expansion in the United States, increasing production in Germany, and entering new markets, preparing for a potential IPO in the future.The company is collaborating with partners such as Google DeepMind, with total financing reaching $2 billion. Agile Robots was founded in 2018 and is dedicated to combining artificial intelligence with robotics to help factories increase productivity and reduce costs. Zhaopeng Chen mentioned that physical AI is one of the solutions for Europe to close the gap with AI in the United States and China and to revitalize its industry.

Binance's Chief Security Officer Jimmy Su stated in a July interview that fake job interviews could lure employees into running malicious code on company devices, leading to device control, credential theft, and infiltration of internal networks.In September, a Binance software engineer downloaded a malicious programming assignment to their work computer during a fake interview; Binance's preliminary investigation indicated that this incident was part of a multi-stage attack in the October theft case. Jimmy Su also pointed out that attackers might exploit seemingly normal technical assessment steps to bypass antivirus tools. Binance's subsequent investigation revealed that the installer for the malicious assignment evaded endpoint security tools through obfuscation and other evasion techniques.Binance stated that it has intercepted 57 suspected cyber threats related to North Korea so far this year, approximately one every five days. After the October attack, Binance announced that it has strengthened device and access controls, rebuilt affected wallet systems and internal AI tools, and increased investments in endpoint protection and development environment security.

This Friday, approximately $2.8 billion worth of BTC and ETH options will expire. Among them, about 34,000 BTC options will expire, with a Put/Call Ratio of 0.52 and a maximum pain point of $76,000, with a nominal value of about $2.48 billion; approximately 148,000 ETH options will expire, with a Put/Call Ratio of 1.55 and a maximum pain point of $2,200, with a nominal value of about $300 million.Affected by the aftermath of the Binance theft incident, the phased net outflow of ETF funds, and the U.S. CPI data exceeding expectations, BTC briefly dipped to the range of $72,700 to $73,300 this Monday and is currently still operating below the maximum pain point of $76,000. In terms of position structure, BTC call options dominate, but the put/call ratio in the last 24 hours rose to around 1.64, indicating a rise in short-term hedging and bearish demand; the ETH put/call ratio reached 1.55, reflecting stronger market defensive sentiment.Before the delivery, attention should be paid to whether BTC can recover near the maximum pain point of $76,000. If it is difficult to quickly reclaim the resistance at $80,000, one might consider risk protection through monthly out-of-the-money put options or bear spreads.

On the morning of November 12, the computing power chip concept stock Suiruan Technology (688801) expanded its gains to 18%, with the stock price reaching a new high since its listing, and a total market value exceeding 250 billion yuan, accumulating a rise of over 80% in the last 7 trading days.As of the time of writing, Suiruan Technology's increase is 17.82%, priced at 582.01 yuan, with an intraday high of 588.00 yuan, a transaction amount of 1.16 billion yuan, and a turnover rate of 12.35%. Public information shows that Suiruan Technology is a leading enterprise in domestic cloud AI chips.