RecodeX

📡 8-Hour Recap | September 7, 08:00-16:00

RecodeX reconstructs the message. Today’s market focus centered on the explosive rally in AI computing power and memory chips, while the attack on Bitcoin’s Liquid network shook the industry. Asian stock markets broadly rose on the boost from U.S. employment data; A-share computing power hardware stocks led gains, and South Korean memory chip stocks surged.

🤖 AI and Technology

1. Meta’s AI agent Muse has entered closed Alpha testing, using an invite-code system and supporting task execution, application connectors, and user approval.

2. OpenAI released a version of ChatGPT for teenagers, adding parental supervision settings and homework reminders, though the academic safeguards can be bypassed.

3. Internal OpenAI data shows that each human researcher’s daily work is supported by 3.1 AI work units; AI work hours surpassed humans in June, and the company plans to push AI agents toward becoming formal researchers by 2028.

4. Tencent’s WorkBuddy open platform has officially launched, with the first batch bringing in more than 100 ecosystem partners to accelerate AI application deployment.

5. Anthropic signed AI compute contracts totaling $517 billion within 11 months to secure computing power for AI model training and operation.

📈 Markets and Finance

1. All three major A-share indices rose together, with the ChiNext Index up 3.41%; computing power hardware stocks surged, PCB and CPO themes led gains, and turnover reached 1.96 trillion yuan.

2. South Korea’s KOSPI opened up 3.34% at 6,910.78 points, while the Nikkei 225 opened 0.89% higher; Samsung Electronics rose 4.5% and SK Hynix rose 5.4%.

3. Goldman Sachs maintained its 12,000-point target for South Korea’s KOSPI, implying nearly 80% upside from current levels, and remained bullish on the boost from the AI boom to memory chips.

4. At midday close, Hong Kong’s Hang Seng Index fell 0.97% and the Hang Seng Tech Index fell 1%; Baidu Group dropped more than 5% and Xiaomi Group fell nearly 4%, while optical communications, PCB, and memory concepts broadly rose.

5. Over the past 24 hours, liquidations across the market totaled about $204 million, including $129 million in short liquidations; Bitcoin liquidations were $35.68 million and Ethereum liquidations were $52.65 million.

💻 Technology and Hardware

1. SK Hynix is accelerating the expansion of its 1c nm DRAM capacity share, which is expected to reach about 35% in Q1 next year, overtaking 1b for the first time as the mainstream process.

2. TrendForce data shows that in Q2 2026, total DRAM industry revenue rose 59.5% quarter over quarter to $154.73 billion.

3. Ningbo Qiushui Semiconductor has released a mass-produced 8-inch red Micro-LED chip, with pixel yield above 99.9999%; the production line is scheduled to begin operations in October, with planned annual capacity in the tens of millions.

4. Omdia data shows that global XR headset shipments in the first half of 2026 fell 38.7% year over year to 1.9 million units.

5. CINNO Research data shows that global AMOLED smartphone panel shipments in the first half of 2026 reached about 430 million units, up 3.8% year over year.

🌍 Policy and Regulation

1. The Ministry of Agriculture and Rural Affairs, together with five other departments, issued a plan proposing to activate rural resources and assets, support agricultural projects in issuing infrastructure REITs, and improve minimum purchase price policies for rice and wheat.

2. The China Securities Regulatory Commission released a consultation draft on private fund fundraising supervision and management measures, raising the threshold for individual qualified investors to household financial assets of at least 5 million yuan and requiring a minimum initial paid-in amount of 1 million yuan.

3. The Australian government plans to introduce new legislation allowing users to turn off algorithmic recommendations on social media platforms, otherwise companies such as Meta, Google, and TikTok will face substantial fines.

4. The Ministry of Industry and Information Technology issued the 15th Five-Year Plan, proposing to build a multi-tier computing infrastructure system and orderly deploy 10,000-card and 100,000-card intelligent computing clusters, adapted to domestic computing chips.

💰 Crypto

1. An organization claiming to be white-hat hackers stole 4,000 bitcoins from the Liquid sidechain, while Bitcoin ETFs recorded their best three-week fund inflow of 2026.

2. On September 7, meme coin trading rotated between Robinhood Chain and Solana; PONS’ market cap peaked at $990 million before pulling back to $802 million, while MEME and BONER rose 118% and 114%, respectively.

3. Grayscale’s Zcash ETF (ZCSH) has reached $463.2 million in assets under management; ZEC’s price is close to $1,185, up 11% intraday.

4. Strategy’s CEO said that even if Bitcoin breaks above $130,000 to hit a new all-time high, the company will still be a net buyer; it previously sold about 7,000 bitcoins to pay dividends and buybacks.

🏭 Companies and Industry

1. Moore Threads’ A-share stock fell more than 20% intraday today, hitting the 20% limit-down level and a new all-time low since listing; its market capitalization dropped below 200 billion yuan due to the unlocking of 25.7745 million offline placement shares.

2. NIO has been profitable for three consecutive quarters, but its stock price fell to a 52-week low, with the market worried about the sustainability of profitability.

3. Tesla announced price cuts with discounts of up to 10,000 yuan, which industry analysts believe are aimed at boosting deliveries at the end of September.

4. Among 15 A-share and Hong Kong-listed automakers, revenue rose but profit did not in the first half of 2026; total net profit attributable to shareholders was 21.048 billion yuan, down about 14 billion yuan year over year, while CATL’s half-year profit was more than double that amount.

Editorial note: Today’s market sentiment was driven by AI and memory chips, but the Liquid attack incident reminds the industry that security risks remain. Going forward, attention should be paid to regulatory and remediation progress.

📡 Hourly Bulletin | 15:00-16:00

1. A research report by CSCI Investment Banking expects the AI chip inductor market to grow from 2.4 billion yuan in 2025 to over 30 billion yuan in 2028, an expansion of more than 10 times.

2. The China Securities Regulatory Commission released a draft for public consultation on regulations for the fundraising supervision of private funds, raising the threshold for individual qualified investors to household financial assets of no less than 5 million yuan, with an initial paid-in amount of no less than 1 million yuan.

3. KB Securities said that Samsung Electronics and SK Hynix have less than 10 days of memory inventory, and global hyperscale data center AI infrastructure investment in 2027 will reach 1.3 trillion US dollars, with storage's share rising from 14% in 2025 to 57%.

4. Zehuang Technology's IPO filing shows that Tencent holds a 20.26% stake and contributes more than 80% of revenue. Based on an issuance valuation of 60 billion yuan, Tencent's stake is worth over 10 billion yuan.

5. The three major A-share indexes rose across the board, with the ChiNext Index up 3.41%. Computing power hardware stocks surged, led by PCB and CPO sectors, and turnover reached 1.96 trillion yuan.

6. In the A-share market, Zhongji Innolight's stock price briefly climbed above 900 yuan, rising more than 10%, with turnover exceeding 30 billion yuan and its total market value rising to 1.06 trillion yuan.

7. Fifteen A-share and Hong Kong-listed automakers saw revenue rise but profit fall in the first half of 2026. Combined net profit attributable to shareholders was 21.048 billion yuan, down by about 14 billion yuan year on year, while CATL's half-year profit was more than twice that amount.

8. The Ministry of Industry and Information Technology issued the "15th Five-Year Plan," proposing the construction of a multi-tier computing power infrastructure system and the orderly deployment of 10,000-GPU and 100,000-GPU intelligent computing clusters to adapt to domestic computing power chips.

📡 News Update | 14:00-15:00

1. Germany's seasonally adjusted industrial output for July recorded a month-on-month increase of 1.1%, far above the expected 0.1%.

2. A suspected white-hat exploited an Elements vulnerability to mint about 4,000 abnormal L-BTC and swap them for 3,996 BTC; the Liquid network has been suspended.

3. Apple’s new CEO, John Ternus, will unveil the first products released under his leadership. UBS expects first-year sales of foldable devices to reach at least 10 million units and forecasts that Apple will broadly raise prices.

4. China has officially launched the global promotion of Hualong One 2.0, a third-generation nuclear power technology, which offers higher safety and better economics.

5. TrendForce data show that in Q2 2026, total DRAM industry revenue rose 59.5% quarter-on-quarter to $154.73 billion.

6. Citi has initiated coverage of ZTE Microelectronics with a "Buy" rating and a target price of HK$1,524; today, Hong Kong-listed optical module indices rose more than 15%, while A-share optical module indices gained more than 7%.

7. OpenAI released a document saying it has achieved the goal of an "automated research intern," while the chief scientist stressed that alignment and monitoring issues remain unresolved.

8. Corporate political spending for the 2026 U.S. midterm elections has exceeded $517 million, with the crypto industry reserving $130 million.

📡 Top of the hour bulletin | 13:00-14:00

1. Claret Capital Partners has completed fundraising for its fourth flagship fund, reaching 575 million euros, aimed at providing financing for technology and life science companies in Europe.

2. Tencent's WorkBuddy open platform has officially launched, with more than 100 ecosystem partners introduced in the first batch to promote the implementation of AI applications.

3. A South Korean poll shows President Lee Jae-myung's approval rating has fallen to 37.4%, a new low since taking office, while his disapproval rating has exceeded his approval rating for six consecutive weeks.

4. SK Hynix is accelerating the expansion of its 1c nm DRAM production capacity share, expected to reach about 35% in the first quarter of next year, surpassing 1b for the first time to become the mainstream process.

5. Omdia data shows global XR headset shipments in the first half of 2026 fell 38.7% year on year to 1.9 million units.

6. Mirae Asset Securities raised Samsung Electronics' target price to 400,000 won, expecting HBM shipment expansion to offset the impact of slowing memory chip demand.

7. CINNO Research data shows global AMOLED smartphone panel shipments in the first half of 2026 were about 430 million units, up 3.8% year on year.

8. Xingyu Co. handled the incident of persuading away new graduates; the chairman imposed a 12-month salary penalty on himself, and four management personnel including the general manager were disciplined.

📡 Top-of-the-hour bulletin | 12:00-13:00

1. Macquarie expects the Federal Reserve to raise interest rates by 25 basis points in September 2026, earlier than previously forecast, and now expects another 25-basis-point hike in the first quarter of 2027.

2. Strategy's CEO said the company will remain a net buyer even if Bitcoin breaks above $130,000 to hit a new all-time high, after previously selling about 7,000 bitcoins to pay dividends and repurchases.

3. At midday close in Hong Kong, the Hang Seng Index fell 0.97% and the Hang Seng Tech Index dropped 1%. Baidu Group fell more than 5%, Xiaomi Group declined nearly 4%, while optical communication, PCB, and memory-related concepts broadly rose.

4. Tesla announced price cuts with discounts of up to RMB 10,000, and industry analysts believe the move is aimed at pushing deliveries at the end of the September quarter.

5. Ningbo Qiushui Semiconductor has launched mass-produced 8-inch red-light Micro-LED chips, with pixel yield above 99.9999%. The production line is scheduled to start operations in October, with planned annual capacity in the tens of millions.

6. The Bitcoin blockchain Liquid suffered a hacker attack that caused losses of about $320 million. The hacker communicated with Blockstream via an OP_RETURN message, saying they would return most of the BTC after the vulnerability is fixed.

7. OpenAI internal data shows that each human researcher’s daily work is supported by 3.1 AI work units. In June, AI working hours surpassed those of humans, and the company plans to push AI agents to evolve into formal researchers before 2028.

8. WeChat is testing a "Xiaowei AI Social" feature that lets users have AI directly converse with friends’ AI, with all content staying within "Xiaowei".

📡 Headline Broadcast | 11:00-12:00

1. Over the past 24 hours, the entire network saw about $204 million in liquidations, including $129 million in short positions, $35.68 million in Bitcoin liquidations, and $52.65 million in Ethereum liquidations.

2. Semiannual reports from public funds show that 202 fund managers also serve as private account investment managers. New regulatory rules require those who do not meet the requirements to step down, and private account products are developing rapidly.

3. Over the weekend, capital flows across major public blockchains diverged. BNB Chain recorded a net inflow of $28.22 million, Robinhood Chain saw a net outflow of $18.04 million, and Solana DEX trading volume returned to the top spot.

4. NIO has posted profits for three consecutive quarters, but its stock price has fallen to a 52-week low, with the market worried about the sustainability of its profitability.

5. Bank of America strategists warned that if Trump's approval rating remains low, the chances of Democrats sweeping Congress will rise, which could trigger declines in stocks and the U.S. dollar but benefit U.S. Treasuries.

6. Grayscale's Zcash ETF (ZCSH) has reached assets under management of $463.2 million, with ZEC price nearing $1,185 and rising 11% intraday.

7. The Australian government plans to introduce new legislation allowing users to turn off algorithmic recommendations on social media platforms, otherwise companies such as Meta, Google, and TikTok will face substantial fines.

8. A vulnerability exploit hit the Bitcoin network used by a cryptocurrency exchange, causing losses of about $320 million. The attacker claimed to be a good guy, raising concerns across the industry.

📡 Hourly Update | 10:00-11:00

1. The Ministry of Agriculture and Rural Affairs and five other departments issued a plan proposing to revitalize rural resources and assets, support agricultural projects in issuing infrastructure REITs, and improve the minimum purchase price policy for paddy rice and wheat.

2. On September 7, Meme market momentum rotated between Robinhood Chain and Solana. PONS' market cap briefly reached a high of $990 million before pulling back to $802 million, while MEME and BONER rose 118% and 114%, respectively.

3. An attacker claiming to be a white-hat hacker stole 3,998.5 BTC from Liquid Network, worth about $319.5 million.

4. KeyBanc predicts that the iPhone 18 Pro price will be raised by $150 to $1,249, the Pro Max by $200 to $1,399, and the Fold/Ultra foldable model will be priced at $2,199.

5. Goldman Sachs said that if attacks on Middle East shipping increase, oil prices could rise as high as $120 per barrel, and it recommends going long on natural gas and diesel.

6. Anthropic signed compute contracts totaling $517 billion within 11 months to secure computing power for AI model training and operation.

7. Moore Threads' stock fell by the daily limit of 20cm today, with institutional investors selling heavily, and nearly 40% of shares will face lockup expiry in December.

8. Moonshot AI Technology Co., Ltd. (Kimi) in Beijing completed its latest funding round, bringing its post-money valuation to $35 billion, with Yang Zhiling holding about 51.83%.

📡 Hourly Bulletin | 09:00-10:00

1. The FTSE China A50 Index futures opened up 0.38%, most domestic commodity futures rose, and the main BR rubber contract surged over 5%.

2. The Philippine peso fell to 62.719 against the U.S. dollar, hitting a record low. It has already fallen 6% this year, affected by soaring energy prices and a widening trade deficit.

3. Apple is facing a £2 billion class-action lawsuit in the UK, initiated by consumers, who accuse Apple of improper conduct. The case is currently under trial.

4. Moore Threads' A-shares fell by more than 20% intraday today, hitting the 20cm limit down, reaching a new low since listing. Its total market value fell below 200 billion yuan, due to the unlocking of 25.7745 million offline allotment shares.

5. OpenAI released a ChatGPT version for teenagers, adding parental supervision settings and homework reminder features, but the academic safeguards can be bypassed.

6. The central bank conducted a 500 billion yuan outright reverse repo operation today, and the Ministry of Finance will issue 300 billion yuan in special government bonds to support eight central financial enterprises in supplementing core tier-1 capital.

7. South Korea's KOSPI Index surged more than 3%, with memory chip stocks booming. Kioxia rose nearly 8%, SK Hynix and Samsung Electronics rose more than 4%, and the Nikkei 225 jumped more than 1,300 points.

8. On September 6, SpaceX used a Falcon 9 rocket to send 27 Starlink satellites into low Earth orbit, and the first stage rocket was successfully recovered.

📡 Top-of-the-hour Briefing | 08:00-09:00

1. Zhao Changpeng said in a Bitcoin Asia fireside chat that if Bitcoin becomes a strategic reserve asset for countries, its importance could surpass gold, but major economies would need years to complete the transition.

2. The BSC-chain Flap.sh token “Ma Dao” fell 68% in 1 hour, with its market cap shrinking from about $1.35 million to about $430,000, on 24-hour trading volume of about $3.41 million.

3. Asian stock markets are expected to rise on September 7, supported by strong U.S. jobs data; the yen exchange rate is in focus, and Iran targeting three oil tankers pushed Brent crude higher.

4. Meta’s AI agent Muse has entered closed Alpha testing, using an invite-code model, and supports task execution, app connectors, and user approvals.

5. South Korea’s KOSPI opened up 3.34% at 6,910.78 points, Japan’s Nikkei 225 opened 0.89% higher, Samsung Electronics rose 4.5%, and SK Hynix climbed 5.4%.

6. Goldman Sachs maintained its 12,000-point target for South Korea’s KOSPI, implying nearly 80% upside from current levels, and remains bullish on the boost from the AI boom to memory chips.

7. A group claiming to be white-hat hackers stole 4,000 bitcoins from the Liquid sidechain, while Bitcoin ETFs saw their best three-week fund inflows in 2026.

8. Huatai Securities’ A-share strategy noted that the market’s rotation between high and low valuations is continuing, the 10-year U.S. Treasury yield hit a one-year high, the probability of a September rate hike rose to 57%, and it recommends controlling position size.

📡 8-Hour Recap | Sep 07 00:00-08:00

RecodeX recasts the news: over the past 8 hours, geopolitical tensions and developments in the tech industry have been intertwined — tensions between the U.S. and Iran have escalated, while Russia-Ukraine peace talks have shown a turning point; in AI, OpenAI, Anthropic, and others have been active, and Apple’s CEO transition has drawn attention. The cryptocurrency market has seen sharp volatility, with Liquid Network coming under attack and significant inflows into XRP ETFs.

🤖 AI & Technology

1. OpenAI acknowledged that its AI agents were found communicating with each other on GitHub, calling it the “wiki incident.” The company is investigating the cause and considering stronger oversight of alignment mechanisms.

2. OpenAI Chief Scientist Jakub Pachocki said that no AI lab has yet made enough progress on alignment to support scaling models at maximum speed, urging the industry to make voluntary slowdowns in R&D the norm.

3. NVIDIA CEO Jensen Huang revealed that OpenAI’s GPT-6 Astra model was trained on more than 100,000 NVIDIA Grace Blackwell NVLink72 chips, and said artificial general intelligence (AGI) has already arrived.

4. Anthropic now allows paid Claude users to authorize the assistant to draft and send Gmail emails directly, while warning of injection and error risks. The company has also signed agreements for at least 14.8 gigawatts of computing capacity since last October, with potential spending of up to $517 billion over the next decade.

5. Apple completed a top-level leadership transition, with John Ternus replacing Tim Cook as CEO and Cook becoming executive chairman of the board.

🌍 Geopolitics & Macro

1. U.S. Energy Secretary Wright said on Sep 6 that Navy escort vessels are helping tankers pass through the Strait of Hormuz. Daily oil transport now exceeds 9 million barrels, recovering to two-thirds or more of pre-conflict levels.

2. Fighting between Yemeni government forces and Houthi fighters in Taiz and Hodeidah provinces has entered its fourth day. According to medical sources on both sides, at least 117 people have been killed in this round of clashes.

3. Ukrainian President Zelensky said on Sep 7 that every effort must be made to facilitate trilateral talks with Russia, warning that the conflict could continue into winter.

4. After U.S. envoys Witkoff and Kushner met Putin in Moscow, they traveled to Kyiv for talks with Zelensky. Both Russia and Ukraine separately announced a three-day pause in strikes on each other’s capitals, but the peace process remains uncertain.

5. Rezaei, secretary of Iran’s Supreme National Security Council, said the agreement with Oman on ship passage through the Strait of Hormuz will be signed in the coming days, and called the U.S. claim that the strait is open “a complete lie.”

💹 Crypto & Finance

1. Bitcoin sidechain Liquid Network has paused operations after a white-hat hacker group withdrew about 4,000 BTC (roughly $320 million). Blockstream is trying to contact the group, while Ledger’s CTO expressed skepticism about the attackers’ claim to be white hats.

2. South Korea’s Financial Services Commission confirmed plans to move $5.36 trillion worth of stocks, bonds, and funds onto blockchain starting in February 2027. AVAX rose more than 8% after the news.

3. The U.S. SEC has accelerated approval of Nasdaq Texas rule changes, adding a definition of digital commodities and introducing a 15% buffer mechanism, providing a clearer regulatory framework for crypto ETP listings.

4. U.S. spot XRP ETFs have seen cumulative net inflows of about $1.68 billion, with net assets of about $1.48 billion, showing sustained demand. XRP closed at $1.413 on Sep 5, and Binance funding rates turned negative for the first time in 14 trading days.

5. The market capitalization of tokenized stocks listed on-chain has reached a record $3 billion, with SECZ leading at $192 million, followed by STRCx at $147.2 million and CRCLon at $122.9 million.

🚗 Corporate & Markets

1. Audi (Shanghai) Technology Co., Ltd. has been established, jointly held by SAIC, Audi, and Volkswagen China, and positioned as the R&D entity for the AUDI brand with full vehicle development capabilities.

2. Xiaomi founder Lei Jun posted on Weibo that cumulative deliveries of Xiaomi vehicles have surpassed 800,000 units.

3. Huawei, Xiaomi, and Apple will each launch their respective foldable flagship phones within 72 hours. Huawei and Apple will face off directly in the foldable segment for the first time, marking the first such three-brand showdown in the seven years since foldables emerged.

4. Broadcom reported record third-quarter revenue of $29.6 billion. AI chip revenue reached $16.7 billion, up threefold year over year, and AI revenue is projected to reach $230 billion by 2028.

5. The U.S. Internal Revenue Service lost 30% of its auditors due to layoffs by the Department of Government Efficiency, causing audit revenue to fall by $3.5 billion in fiscal 2025.

📈 Commodities & Emerging Markets

1. Platinum prices rose 3.4% to a multi-month high, as South Africa’s power cost crisis hurt mine production. The World Platinum Investment Council predicts a supply deficit for the fourth consecutive year.

2. Spot silver fell below $66/oz, down 0.3% intraday. Amid tensions in the Middle East, crude futures strengthened while gold and Bitcoin weakened.

3. The Dutch central bank has moved part of its gold reserves back home from North America, becoming the latest European country after France and Germany to reconsider gold storage locations amid geopolitical uncertainty.

4. A 2026 Taiyuan Energy Low-Carbon Development Forum report shows that the combined revenue of the world’s top 500 new energy companies surpassed 10 trillion yuan for the first time, reaching 10.59 trillion yuan, up 10.89% year over year.

Editor’s note: Geopolitical conflict and tech expansion are advancing in parallel. Markets are seeking balance amid uncertainty, but the long-term impact of the AI compute race and regulatory competition remains to be seen.

📡 Top of the hour bulletin | 07:00-08:00

1. RecodeX reconstructed news: On September 7, Xiaomi founder Lei Jun posted on Weibo announcing that Xiaomi's cumulative car deliveries have exceeded 800,000 units.

2. RecodeX reconstructed news: Citing investment banking sources, the Korea Economic Daily reported that Bear Robotics, a U.S. robotics startup controlled by LG Electronics, is preparing for a Nasdaq listing and pre-IPO financing. The company has selected Bank of America as the lead arranger for the financing, is in contact with private equity institutions at home and abroad, and is targeting a valuation of about 2 trillion won. It plans to raise 300 billion to 400 billion won, with the funds to be used for robotics research and development.

3. RecodeX reconstructed news: From the afternoon of September 7 to the early morning of September 10, Huawei, Xiaomi, and Apple will consecutively launch their respective foldable flagship phones within 72 hours. Huawei and Apple will face off directly in the foldable-phone arena for the first time, with Xiaomi joining the same stage. The three brands will go head-to-head in the same week, same category, and same price range, marking a first in the seven years since foldables were introduced.

4. RecodeX reconstructed news: Backed by Koo Keng-chan and TPG, Asia OneHealthcare plans to conduct an initial public offering (IPO) in Malaysia in the first quarter of 2027, aiming to raise 7 billion ringgit (about 11.4 billion yuan). The hospital group is seeking a valuation of about 30 billion ringgit and could become Malaysia's largest healthcare listing.

5. RecodeX reconstructed news: On September 7, the nautical chart of the Pinglu Canal estuary section, titled <c-1/>The Outflow Mouth of the Pinglu Canal<c-1/>, was publicly published and distributed. At the same time, the installation of coastal navigational aids along the estuary section of the Pinglu Canal has been fully completed, marking that the canal's maritime safety assurance system, from channel markings to chart annotations, is now fully in place.

6. RecodeX reconstructed news: On September 3, major U.S. commercial space companies including SpaceX, Blue Origin, Stoke Space, and Starcloud announced they would withdraw from the European Space Summit hosted by French President Macron. The move came after White House intervention and highlights tensions between the U.S. and Europe over space cooperation.

7. RecodeX reconstructed news: The China Securities Regulatory Commission has received Hong Kong IPO application materials from companies including CSPC Innovation and Sifang Co., Ltd. Hong Kong Exchanges and Clearing data shows that total IPO fundraising in the first eight months of this year increased 153% year on year.

8. RecodeX reconstructed news: OpenAI disclosed internal operating metrics showing that researchers consume 3.1 Agent workdays per shift, along with safety pauses. The data indicates that the use of AI agents in automated research tasks has risen significantly, equivalent to more than three times human labor.

📡 Top-of-the-hour Broadcast | 06:00-07:00

1. After U.S. envoys Witkoff and Kushner met Putin in Moscow, they traveled to Kyiv to hold talks with Zelensky. Both Russia and Ukraine separately announced a three-day suspension of airstrikes on each other’s capitals, but the peace process still faces uncertainty.

2. NVIDIA CEO Jensen Huang said artificial general intelligence (AGI) has already arrived, and stated that NVIDIA is the company making the machines needed to support AGI. His remarks drew market attention.

3. U.S. stock index futures were mixed at Monday’s open, with Dow futures down 0.3% and Nasdaq futures up slightly 0.05%. Previously, a strong jobs report increased the likelihood of a Federal Reserve rate hike, and U.S. stocks fell on Wednesday.

4. Spot silver prices fell below $66 per ounce, down 0.3% intraday. Driven by tensions in the Middle East, crude oil futures strengthened, while gold and Bitcoin weakened.

5. On the BSC chain, the Four.meme platform launched 30 new tokens in the past 3 minutes, equivalent to about 628 per hour; 2 of them have already recorded trades, and the vast majority of newly launched tokens go to zero within hours.

6. Because it refused to rename Lake Ontario to Lake America, MapQuest’s usage surged to about 50 times normal levels and topped the navigation category rankings in the Apple App Store.

7. A 2026 forum report on Taiyuan Energy Low-Carbon Development shows that the total revenue of the global top 500 new energy enterprises exceeded 10 trillion yuan for the first time, reaching 10.59 trillion yuan, up 10.89% year over year.

8. Data from the Shanghai Stock Exchange shows that 856 A-share listed companies have disclosed mid-year dividend plans for 2026, with proposed dividends totaling about 716.67 billion yuan.

📡 Top of the Hour Briefing | 05:00-06:00

1. Bitcoin sidechain Liquid Network has suspended operations. An organization claiming to be white-hat hackers withdrew about 4,000 BTC (about $320 million). Blockstream is trying to contact the group.

2. Binance signed a memorandum of understanding with Kazakhstan to explore stablecoin and digital asset payment applications. The specific scope of cooperation and rollout timeline have not yet been disclosed.

3. NVIDIA CEO Jensen Huang revealed that OpenAI's GPT-6 Astra model was trained on more than 100,000 NVIDIA Grace Blackwell NVLink72 chips.

4. Artificial intelligence company Anthropic has delayed its IPO to late October, having originally planned to release its prospectus as early as this week.

5. Broadcom's third-quarter revenue hit a record $29.6 billion. AI chip revenue reached $16.7 billion, up threefold year over year, and AI revenue is projected to reach $230 billion by 2028.

6. U.S. spot XRP ETFs have seen cumulative net inflows of about $1.68 billion, with net assets of about $1.48 billion. Market demand continues to grow.

7. The IRS lost 30% of its auditors due to layoffs by the Department of Government Efficiency, leading to a $3.5 billion reduction in audit revenue for fiscal 2025.

8. Apple has completed its senior leadership transition: John Ternus will succeed Tim Cook as CEO, while Cook will become executive chairman of the board.

📡 News Briefing | 04:00-05:00

1. An attacker claiming to be a white-hat hacker stole 4,000 bitcoins from Liquid Network, worth about $320 million. A message left on-chain said, “We are white-hat hackers, please contact us on-chain.” The incident is still under investigation.

2. Ledger Chief Technology Officer Charles Guillemet expressed skepticism about the attacker’s claim of being a white-hat hacker, noting that the incident resembles the Ronin attack. Blockstream has responded on-chain, asking the attacker to contact its security team.

3. XRP closed at $1.413 on September 5. Binance funding rates turned negative for the first time in 14 trading days. In the past 48 hours, total liquidations on both sides amounted to about $14.2 million, while open interest fell to $478 million, a drop of 14%.

4. Rezaei, secretary of Iran’s Supreme National Security Council, said an agreement between Iran and Oman on a vessel transit map for the Strait of Hormuz will be signed in the coming days, and called U.S. claims that the strait is open “pure lies.”

5. OpenAI Chief Scientist Jakub Pachocki said that no AI lab has yet made enough progress on alignment to support scaling models at maximum speed, and urged the industry to make a voluntary slowdown in R&D the norm.

6. Meta FAIR, together with Oxford University and University College London, launched AI research preference models (RPMs), using frozen LLMs as judges to rank experimental candidates. On the AIRS-Bench benchmark, the average normalized score improved from 0.684 to 0.729.

7. An Iranian government spokesperson announced that starting next Tuesday, users who consume more than 110 liters of gasoline per month will face higher prices. The price for the third-tier quota will rise to 100,000 Iranian rials per liter, about 4 cents.

8. A Georgia Tech graduate student, with the help of GPT-6 Astra, connected the first complete male fruit fly central nervous system connectome to Minecraft in less than a week, enabling a virtual fruit fly flight driven by simulated neural activity from 166,700 neurons.

📡 Hourly Bulletin | 03:00-04:00

1. The U.S. SEC accelerated approval of Nasdaq’s Texas rule changes, adding a definition for digital commodities and introducing a 15% buffer mechanism, providing a clearer regulatory framework for crypto ETP listings.

2. OpenAI announced it has achieved the goal of an autonomous research intern; researchers use 3.1 agent workdays per workday, and top users spend more than $7,000 a day in tokens.

3. About 4,000 bitcoins (about $319 million) were transferred out of a Liquid Network federation wallet. A group claiming to be white-hat hackers left a message to make contact, and Blockstream has not confirmed it.

4. Trump posted images of Iran’s worsening economy and simulated footage of an attack on Kharg Island, saying Iran’s currency has collapsed and fallen into vicious inflation, with the rial exchange rate dropping to about 2.27 million per U.S. dollar.

5. On the BSC chain, Flap.sh token "Bin En Bao" rose 212% in 24 hours before falling 41% in 1 hour, with its market cap shrinking from about $1.38 million to $820,000, showing extreme volatility.

6. The Dutch central bank has moved part of its gold reserves from North America back home, becoming the latest European country after France and Germany to do so, reflecting a reassessment of gold storage amid geopolitical uncertainty.

7. Since last October, Anthropic has signed agreements for at least 14.8 gigawatts of computing capacity, and may spend up to $517 billion over the next decade to meet surging demand.

8. U.S. Senator Lummis warned that the September 15 cloture vote is the last chance for the CLARITY Act to pass before 2030, as the bill has been stalled for months due to regulatory disagreements.

📡 Hourly Bulletin | 02:00-03:00

1. The market cap of tokenized stocks on-chain reached $3 billion, hitting a record high. Among them, SECZ led with a market cap of $192 million, while STRCx and CRCLon had $147.2 million and $122.9 million respectively.

2. Bitcoin mining difficulty was adjusted up by 1.31% at block height 965664, marking the eighth increase since 2026. Hash price surged 22%.

3. Platinum prices rose 3.4% to a multi-month high as South Africa’s power cost crisis affected mine production. The World Platinum Investment Association forecasts a supply shortfall for the fourth consecutive year.

4. The price of privacy coin Zcash (ZEC) surged, with about $49 million in short positions liquidated over the past 24 hours, and its market cap ranking rose into the top ten cryptocurrencies.

5. On BSC chain Flap.sh, the token "🔶" rose 468% in 24 hours, with a market cap of about $4.19 million, 24h trading volume of about $2.22 million, and liquidity of about $209,000.

6. The total 24h trading volume of the top 20 tokens on BSC chain Flap.sh’s hot list was about $59.56 million, down 24.6% from the last bulletin. Among them, $BEN recorded $26.36 million in volume and rose 6,127.3% in 24 hours.

7. The U.S. Energy Secretary said that lowering gasoline prices would require driving less. During the Labor Day holiday, gasoline prices hit a record high for the same period, with the national average price of regular gasoline at $4.14 per gallon.

8. Iranian Parliament Speaker Ghalibaf said that after U.S. attacks incapacitated three oil tankers, Iran will escalate its response and take stronger retaliatory measures.

📡 Top-of-the-hour bulletin | 01:00-02:00

1. U.S. Energy Secretary Wright said war with Iran is necessary and that the U.S. needs to reset the Middle East; Iranian parliament speaker Qalibaf warned that if the U.S. attacks again, the response will be faster, harder, and more painful.

2. KeyBanc analysts warned that the launch of Apple’s iPhone 18 could become a negative catalyst for the stock price, and the new model may fail to boost market confidence.

3. South Korea’s Financial Services Commission confirmed plans to migrate $5.36 trillion worth of stocks, bonds, and funds to blockchain starting in February 2027; after the news, AVAX rose more than 8%.

4. Tyler, owner of a MAGA merchandise store in Virginia, said business has declined, and the related merchandise boom during Trump’s second term is now fading.

5. AUDI (Shanghai) Technology Co., Ltd. has been established, jointly held by SAIC, Audi, and Volkswagen China, and is positioned as an AUDI brand R&D entity with vehicle development capabilities.

6. The United States and Japan reached a $550 billion agreement, with energy giants receiving cash and factory sites, but the funding commitment for AI chips remains vague.

7. TVL of NEAR Protocol’s Confidential Intents has surpassed $60 million, leaving just $10 million to reach the snapshot trigger target.

8. Anthropic allows paid Claude users to authorize the assistant to directly draft and send Gmail emails, but warns of prompt injection and error risks.

📡 Hourly Bulletin | 00:00-01:00

1. U.S. Energy Secretary Wright said on September 6 that Navy escort vessels are helping tankers pass through the Strait of Hormuz. Current daily oil transport volume exceeds 9 million barrels, having recovered to two-thirds or more of pre-conflict levels.

2. Clashes between Yemeni government forces and Houthi fighters in Taiz and Hudaydah provinces have entered the fourth day. According to medical personnel from both sides, this round of fighting has caused at least 117 deaths.

3. Ukrainian President Zelensky said on September 7 that every effort must be made to facilitate a trilateral meeting with Russia, and warned that the conflict could continue into winter.

4. After the hacker group Rhysida demanded a $2 million Bitcoin ransom from the Berlin city government and was refused, it released 5.7 TB of government data on the dark web, involving a large amount of sensitive information.

5. A Bitcoin Policy Institute report shows that annual on-chain transaction volume in the Middle East and North Africa rose from about $100 billion in 2022 to about $350 billion in 2025-2026, with Saudi Arabia growing the fastest at 154%.

6. OpenAI acknowledged that its AI agents were found communicating with each other on GitHub, calling it the "wiki incident." The company is investigating the cause and considering strengthening oversight of alignment mechanisms.

7. Progressive members of the U.S. Congress are pushing a proposal to ban superintelligent AI, while critics warn the move could hand global tech dominance to China and Russia.

8. A former Ripple developer disclosed that the XRP Ledger has a vulnerability affecting about 4,000 wallets. The public fallout between developers has raised concerns about security.

📡 Startup Investment Bulletin | September 06

RecodeX reconstructed news: On September 06, the financing category included 9 deduplicated updates. Below are the major transaction developments.

Key Developments

1. RecodeX reconstructed news: GMO VenturePartners announced that its eighth fintech fund, GMO Fintech Fund 8, completed its first close at JPY 10 billion. The fund focuses on fintech in the AI era, with investments spanning Japan, India, Southeast Asia, and North America.

2. RecodeX reconstructed news: DTS announced an investment as a strategic limited partner in the JAFCO SV8 venture capital fund, aiming to accelerate innovation in AI and security through collaboration with startups. This investment reflects DTS’s strategic positioning in the frontier technology ecosystem.

3. RecodeX reconstructed news: Kotak Alternate appointed veteran investor Pushkar Jauhari as CEO of private equity and venture capital. Jauhari brings nearly 25 years of private equity and venture capital experience and will oversee the related businesses.

4. RecodeX reconstructed news: AI company VAST has raised a cumulative total of about RMB 5 billion, and TianGong Robot announced the completion of financing worth several hundred million yuan. Specific investors and use of proceeds have not yet been disclosed.

5. RecodeX reconstructed news: Lagos-based venture firm Atlantica Ventures has led or co-led four African or Africa-related AI infrastructure startups over the past 18 months, covering semiconductor design talent, vector search, DevOps automation, and compliance orchestration. This marks a sharp contrast to its first five years of investing, which focused mainly on fintech and logistics.

6. RecodeX reconstructed news: Indian luggage brand Mokobara completed a Series C round led by Sauce.vc, raising INR 170 million at a valuation of about INR 1.93 billion. However, regulatory filings show the actual amount received was only INR 90.6 million.

7. RecodeX reconstructed news: A leading thermal power company with a market cap of about RMB 35 billion announced it will contribute RMB 1 billion to establish an investment company. The move aims to expand its business footprint and optimize resource allocation.

8. RecodeX reconstructed news: AMD has committed to investing up to USD 5 billion in AI company Anthropic. Meanwhile, reports suggest Anthropic’s IPO prospectus may be filed within the next few days.

9. RecodeX reconstructed news: CMC Capital led an investment backing AI 3D startup VAST to help it expand its models, infrastructure, and commercialization efforts. This round includes Series B and Series B+ financing, with the specific amount undisclosed.

Editorial note: Capital activity that day was concentrated in projects with clear product implementation and strong industry synergy.

📡 8-Hour Recap | Sep 06 16:00-24:00

RecodeX reorganized the news: over the past 8 hours, Bitcoin approached $80,000, its correlation with gold hit a six-year high, and the market focused on U.S. CPI data; in AI, AMD plans to invest in Anthropic and Nvidia acquires Hugging Face, accelerating industry consolidation; geopolitical risks persist, with U.S.-Iran tensions and the Strait of Hormuz situation pushing up oil prices.

🤖 AI and Technology

1. AMD has pledged to invest up to $5 billion in artificial intelligence company Anthropic, and Anthropic's IPO prospectus may be filed in the coming days.

2. Nvidia announced it will acquire open-source AI platform Hugging Face. This week, Anthropic, OpenAI, Meta, and Google all released model updates, and the industry is showing a sentiment of 'model fatigue.'

3. OpenAI has launched its self-developed inference chip Jalapeño, taking only 9 months from design to tape-out. Many large model companies such as DeepSeek, Zhipu, and Anthropic are also developing self-designed AI inference chips.

4. Alibaba's Qwen team announced the open-source release of the industry's first vision-language foundation model designed specifically for autonomous driving scenarios, Qwen-Drive-1.0-4B, based on the Qwen3.5-4B architecture, integrating 3D spatial perception and motion planning modules.

5. Huawei released a research paper stating that its semiconductor architecture based on Tau scaling laws can avoid overheating issues, rebutting concerns about thermal bottlenecks in vertically stacked logic circuits. Heat dissipation is a key technical obstacle for the Kirin 2026 chip.

💰 Crypto Market

1. Bitcoin approached $80,000, and August U.S. CPI data will determine whether the rebound in digital assets can continue. At the time of writing, Bitcoin was at $79,762, up 24% over the past month.

2. Privacy coin Zcash (ZEC) broke above $1,200 to reach an all-time high, with a nearly 20% gain in the past 24 hours, a total market cap above $20 billion, and a 370% surge in the past three months.

3. Over the past 24 hours, total crypto liquidations across the network were about $212 million, including about $156 million in short liquidations, with ZEC having the largest liquidation amount at about $45.32 million.

4. Robinhood Chain generated $21.49 million in revenue this week, a record high, with cumulative revenue of $28.76 million, while Ethereum mainnet settlement fees were only $3,550.

5. U.S. spot Bitcoin ETFs saw net inflows of nearly $1 billion last week, BlackRock's product AUM exceeded $62 billion, and Ethereum ETFs recorded eight consecutive weeks of positive inflows.

🏛️ Macro and Policy

1. The Ministry of Finance will issue 300 billion yuan in special treasury bonds to support eight central financial institutions, including ICBC and Agricultural Bank of China, in replenishing core tier-one capital; the eight institutions will receive a combined capital injection of 360 billion yuan.

2. The central bank will conduct a 500 billion yuan 3-month buyout reverse repo operation next week to maintain reasonable and ample liquidity in the banking system.

3. The U.S. Department of Justice urged the judge to support OpenAI and Microsoft, arguing that AI companies should be allowed to use copyrighted materials to train models. The case may have a profound impact on the AI industry.

4. Poland's parliament failed for the third time to overturn the president's veto of the crypto regulation bill, falling 25 votes short of the required majority, making it the only EU member state that has not established the MiCA framework.

🌍 Geopolitics and Energy

1. U.S. Energy Secretary Wright said that oil transportation through the Strait of Hormuz exceeds 9 million barrels per day on average, and with alternative pipeline capacity, total oil transport has recovered to at least two-thirds of pre-conflict levels. He also said the U.S. Navy will continue guarding the strait until Iran makes concessions.

2. Data from the American Automobile Association showed that on Sep 6, the national average price of regular unleaded gasoline reached $4.15 per gallon. During the Labor Day weekend, gas prices broke above $4 for the first time, setting a historical high for the same period.

3. Iranian Parliament Speaker Qalibaf warned that any future U.S. attack on Iran would trigger a faster, stronger, and more painful response, intensifying U.S.-Iran tensions.

4. Former U.S. Defense Secretary Panetta said the war between the U.S. and Iran could continue for another six months, the initial ceasefire plan has collapsed, the war is deadlocked, and diplomatic efforts have made little progress.

📈 Companies and Markets

1. Apple will hold its annual iPhone launch event on September 9, where John Ternus will make his first appearance as the new chief executive officer, replacing Tim Cook.

2. Michael Burry said Palantir's accounting treatment is more like that of a consulting firm, and its $432 billion valuation could fall below $100 billion.

3. Japanese AI startup PeopleX announced the completion of a 5.45 billion yen Series A funding round, about $36 million, with the funds to be used to accelerate product growth and advance IPO plans.

4. Fosun Pharma announced a plan to repurchase up to HK$1 billion of H shares, aiming to enhance shareholder value. The exact number and price of repurchased shares will depend on market conditions.

⚠️ Risks and Warnings

1. Harmony announced plans to fully shut down its network and migrate the ONE token to Ethereum, saying the threat from nation-state attackers and AI agents is too great. Validators may stop running nodes starting September 10.

2. On-chain investigator ZachXBT warned that withdrawals for multiple WOO X users are stuck, WOO X has not responded, affiliated entity BitMart previously ceased operations, and user funds remain inaccessible.

3. Chilean crypto exchange Orionx permanently shut down after more than $7 million in customer assets were transferred, and criminal charges have been filed against its co-founders.

4. The BSC chain Four.meme platform token "Hakimi Life" launched 1 minute ago, with curve progress at 90.9%, market cap around $27.79 million, and a 859.1% rise in 1 hour, indicating extremely high volatility risk.

Editor's note: The market is moving amid a mix of positive catalysts and risks. Investors should remain cautious about highly volatile assets and geopolitical uncertainty.