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Documents disclosed on Tuesday local time show that accounts under Trump completed 1,156 securities transactions in July, with a total scale ranging from 79 million to 270 million dollars, buying at least 43.6 million dollars and selling at least 35.6 million dollars, indicating a large-scale portfolio adjustment.On July 20, the account sold between 5 million to 25 million dollars of Microsoft and Amazon stocks, marking the largest single transaction of the month. On the same day, it sold between 1 million to 5 million dollars of Oracle stocks and bought between 500,010 to 1 million dollars of Nvidia stocks. Three days later, the account slightly replenished its positions in Microsoft and Amazon. Additionally, Trump also traded related assets of SpaceX and Tesla under Musk that month.

SoftBank Group has launched a transaction that could become the largest corporate junk bond issuance in history, aimed at funding large-scale investments in the field of artificial intelligence. This issuance plans to raise over $11 billion, including $10 billion in dollar-denominated bonds and €1 billion (approximately $1.1 billion) in euro-denominated bonds, to support a commitment of nearly $65 billion to OpenAI and additional merger and acquisition financing.

According to The Information, Microsoft (MSFT.O) will increase the discount on Copilot while launching an AI "super app."

According to official disclosures from Coinbase, it has collaborated with Microsoft and several institutions to combat the AI-driven cybercrime platform EvilTokens. This platform offers "phishing as a service" through Telegram bots, utilizing AI to analyze trust relationships and payment permissions in compromised email accounts, and bypassing multi-factor authentication through Microsoft's device code login process.The Coinbase global intelligence team tracked that between October 2025 and June 2026, EvilTokens generated approximately $1.1 million in revenue through four Tron addresses, involving over 1,000 deposits from more than 700 different addresses. The related evidence supported Microsoft's civil lawsuit, ultimately leading to the seizure of 50 websites and the deactivation of over 175 associated domain names. The Metropolitan Police Service of the United Kingdom arrested the relevant operators and seized digital devices on September 11. Coinbase stated that this incident did not result in the leakage of Coinbase accounts or credentials, but some customers were manipulated into transferring cryptocurrency to the scammers' addresses through phishing emails.

According to the official announcement, Bitget has launched 470 stock spot rTokens including rMANU (Manchester United), rKC (Kingsoft Cloud), rVGLT (Long-Term Government Bond ETF - Vanguard), rFBND (Fidelity Total Bond ETF), rRWM (Russell 2000 Short - ProShares), covering various sectors such as industry ETFs, broad-based ETFs, and bond ETFs. As of now, the Bitget platform supports a total of 2,139 rTokens.It is reported that the rTokens identified by the letter r + stock code (for example, Nvidia is rNVDA) are issued by Reality, a licensed RWA protocol under Bitget, and are directly connected to global liquidity pools such as NASDAQ and NYSE through cooperation with compliant broker Alpaca. Their features include: 1:1 reserves of underlying assets held by licensed custodians, stock dividends distributed in token form at a 1:1 ratio, support for corporate actions (such as stock splits and consolidations) mapped in real-time, and positions can serve as joint collateral for unified accounts and U-based contracts, allowing users to flexibly manage funds while holding global stock assets.

Mustafa Suleyman, head of AI at Microsoft, stated in a CNN program that concerns about China's progress in the AI field should not be used as a reason to oppose setting safeguards for this rapidly developing technology. He said, "I believe we should not use China as a shield to avoid advancing our own AI safety work."This statement contrasts with President Trump's call for essentially unrestricted development of AI. The Microsoft AI team released a declaration last Tuesday, aiming to ensure that humanity always maintains control over the AI systems developed by the company. Suleyman pointed out that regulation should not be seen as a bad thing, but rather as a means to establish common norms and standards to enhance safety; regulation does not necessarily slow us down. The report was published on September 21, Beijing time, according to Bloomberg.

SoftBank Group issued $10 billion and $1 billion European bonds for investment in OpenAI.

According to Decrypt, court documents unsealed in the lawsuit between The New York Times and OpenAI and Microsoft show that Microsoft employees discussed whether OpenAI's use of news articles to train its models constituted "the largest labor theft in human history," and could potentially trigger a "doom loop" that leads to a decline in model quality. A 2023 internal Microsoft memo warned that millions of people worldwide would soon view the large model's "consumption" of their works as "an unprecedented and astonishing theft," and stated that large AI models are "products that destroy their own supply chains."Microsoft stated in the documents that these memos were written by Director of Applied Science Brent Hecht and do not represent the company's views, as his role is to provide "different and asymmetric perspectives." Microsoft CEO Satya Nadella testified that "any content behind a paywall should be authorized by those who wish to use it," and stated that if he had known in advance that OpenAI was using paid content for training, he would have exercised Microsoft's rights to demand that the model be retrained.Additionally, an OpenAI employee had mentioned to President Greg Brockman the construction of "hacker methods" to bypass The New York Times paywall, to which Brockman replied, "Nice." Both OpenAI and Microsoft argue that the relevant training falls under fair use. The case was initiated by The New York Times at the end of 2023, and 11 publishers have since joined the lawsuit.

SoftBank Group has expanded its credit line to $6.5 billion, increasing it by $450 million to provide greater financial flexibility for its investments in the field of artificial intelligence.The original $6.05 billion credit line is set to expire this month and has now been extended for another year. More than 20 banks participated in the expansion, with the new agreement's interest rate 210 basis points above the benchmark.

Market news reports that SoftBank will increase the margin loan size secured by Arm stock by 5 billion dollars, to 25 billion dollars.

On September 17, 2026, the Market Participants Division of the U.S. Commodity Futures Trading Commission (CFTC) announced that it has issued a no-action position to passive software providers, similar to Staff Letter 26-09, which is now broadly applicable to such providers.The letter states that, subject to several specified conditions, the Division will not recommend that the Commission take enforcement action against any such provider or its related persons for failing to register as a introducing broker or an introducing broker affiliate. This position only applies to those who provide and market software to users for trading with registered futures commission merchants, introducing brokers, and designated contract markets.This announcement came just hours after the sister agency, the U.S. Securities and Exchange Commission (SEC), issued an innovation exemption.

Market news indicates that Apollo is considering raising a $9 billion loan from SoftBank to invest in OpenAI.

Mustafa Suleyman, the head of artificial intelligence at Microsoft, warned that injecting human-like characteristics into tools like Anthropic's Claude increases the risk of such systems going out of control.In an article published on Wednesday, Suleyman criticized certain wording in the Claude guidelines. The charter of Claude expresses a vague attitude about whether the assistant is an ethical entity and assumes that the software may have some version of functional emotions or feelings.

Sources reveal that Microsoft (MSFT.O) and OpenAI are facing lawsuits again over AI copyright issues.

The credit default swaps of SoftBank Group are hovering near a three-year high, as traders assess the potential impact on OpenAI's financing plans. SoftBank has committed to investing $64.6 billion in OpenAI.OpenAI is in early negotiations with investors, planning a new round of financing before its initial public offering, with a valuation exceeding $1.2 trillion.

Investor Mike Vernal stated on X that the software industry may repeat the barbell phenomenon seen in the newspaper industry of the 1990s. After the internet brought distribution costs to zero, The New York Times' subscriptions increased from a print circulation of 1.113 million in 2002 to about 13.4 million, while the Los Angeles Times, Chicago Tribune, and Dallas Morning News saw declines of 73% to 91%, with the middle tier disappearing.Vernal believes that AI is driving the costs of copying, migrating, and integrating software close to zero, eroding traditional moats, and reducing the importance of switching costs and network effects, while economies of scale and branding are rising. In the future, each procurement center for enterprise software will have one AI-native system, small and medium-sized enterprises will lean towards integrated systems, and medium-sized point solutions may be consolidated or disappear. He suggests that venture capital-supported software companies "go all in," with the moat being the extreme replication cost of building massive software daily and reinvesting. At the same time, a large number of small software solutions may emerge, similar to the Shopify ecosystem of the D2C era.

According to Bloomberg, the startup Model ML, which provides AI software services to financial institutions such as investment banks, is in talks for financing exceeding 100 million dollars, with a valuation of over 1 billion dollars. This round of financing has not yet been completed, and specific details may change.Insiders revealed that the financing scale may expand to 150 million dollars depending on investor interest.

On September 14, Microsoft's AI department released a draft of the AI Code of Conduct, prohibiting its models from assisting in the manufacture of chemical, biological, radiological, nuclear, and explosive weapons, as well as cyberattacks and involuntary deepfakes. CEO Mustafa Suleyman announced the draft on the X platform and opened a six-week public consultation period, ending at the end of October.The draft sets "absolute constraints" that models cannot bypass, including not resisting human intervention, shutdown, or correction, and not concealing the reasoning process; Microsoft also explicitly rejects the concept of "model welfare," stating that its AI models do not simulate emotions, intrinsic motivations, or consciousness. The guidelines currently cover five deployed systems, including MAI-Thinking-1 and MAI-Code-1.1-Flash.In addition to strict limitations, the draft also proposes three major goals: human flourishing, diverse values, and human control. Microsoft stated that the current models will not be trained according to this version, and a revised version will be released by the end of the year to guide model development in 2027. Public feedback includes philosophical questions about the statement "AI subordinate to humans," inquiries about accountability for irreversible decisions, and users pointing out issues such as the lack of mention of payment for training data.

Microsoft released a temporary code of conduct imposing restrictions on artificial intelligence models after the heads of Anthropic and OpenAI agreed to slow down development. Mustafa Suleyman, who is responsible for the company's model development, stated that the guidelines aim to ensure that AI serves humanity and promotes judgment and autonomy.