Cointime reports: VeriSilicon Holdings said its order backlog reached RMB 18.569 billion as of the end of September 2026, up 265.90% from the end of last year and 49.16% from the end of the second quarter, marking 12 consecutive quarters at a high level. The chip design services firm expects adjusted EBITDA to turn positive in the second half of 2026 and full-year adjusted net profit attributable to shareholders to turn positive in 2027.
Cointime update: Tencent’s Hunyuan Hy4 model debuted on WorkBuddy on Nov 4, prompting the team to urgently expand its inference cluster tenfold and raise users’ free trial quota. Tencent Hunyuan said high-end compute limits and peak concurrency may still cause quota caps at certain times, and advised users to switch to Hy3, whose WorkBuddy free access is extended to Nov 15, 2026, or to off-peak evening use.
Cointime reports: Global output of the new display industry exceeded $200 billion in 2025, according to a report released by the China Center for Information Industry Development at the 2026 World Display Industry Innovation and Development Conference. The report said the global industry has entered a new development cycle, with AI penetration driving transformation. China, the largest R&D and manufacturing base for new displays, holds more than 50% of the global market.
Cointime update: The 2026 World Internet Conference Wuzhen Summit concluded on Nov. 5, drawing more than 1,800 guests from over 130 countries and regions under the theme of open-source openness and shared development, with a focus on AI open-source. The Internet Light Expo featured 671 companies and institutions from 54 countries, showcasing over 1,000 new products and technologies, and drew a record single-day attendance of more than 20,000. The Digital Economy Industry Cooperation Conference collected 116 signed projects, with contract value exceeding 100 billion yuan for the fourth consecutive year.
Cointime update: China will launch a national computing interconnection regional node in Hubei and debut the “1+M+N” industry nodes at the 2026 China 5G+Industrial Internet Conference, to be held in Wuhan from Nov. 18 to 20, the Ministry of Industry and Information Technology’s news center said on Nov. 4. The event will also start a second batch of “5G+Industrial Internet” integrated application city pilots and host industry-finance matchmaking with state and regional funds.
Cointime update: Huawei unveiled its first HarmonyOS desktop PC, the Qingyun HM650, running HarmonyOS V1.0 on its self-developed Kirin X90 chip. The machine ships with the new Xiaoyi AI agent and HarmonyOS Star Shield Security 2.0 architecture, and supports remote task handoff from HarmonyOS phones with cross-device continuity. More than 21,000 applications have already been adapted for the system.
Cointime update: Foxconn said its AI-related business is expected to continue growing in the fourth quarter, the company stated. It added that the impact of volatility in the global political environment still needs to be closely monitored. The company did not provide specific revenue or growth figures for the AI segment.
Cointime update: Lenovo Group has appointed Amar Babu, currently Senior Vice President and President of Asia Pacific, as General Manager of its Mobile Business Group and President of Motorola worldwide, effective January 1, 2027. Babu will report to Luca Rossi, Executive Vice President and President of the Intelligent Devices Group, and will oversee Motorola’s global operations, including premium smartphones, personal AI and smart device ecosystems.
Cointime update: OpenAI’s automated vulnerability research pipeline identified 2,308 candidate Linux kernel flaws and confirmed 1,724 through dynamic reproduction, generating 948 local privilege escalation (LPE) exploits that let unprivileged users gain root access. The second full scan cost about $1.21 million in API credits. OpenAI is submitting the findings and patches to Linux kernel maintainers, and third-party kernel experts confirmed the agent used 10 previously unseen exploitation techniques.
Cointime update: BYD and vivo formally signed a strategic cooperation agreement in Shenzhen, the automaker said. The two companies will deepen collaboration on cross-device AI integration, phone-to-vehicle connectivity, digital car keys and in-car fast charging. No financial terms or timeline were disclosed.
Cointime update: Unitree Technology founder and chairman Wang Xingxing said robot combat performances have become less entertaining than last year because robots are now far more stable and rarely fall when struck. Speaking at the 9th Hongqiao International Economic Forum’s humanoid robot and embodied intelligence forum, Wang said Unitree’s autonomous combat concept, proposed in 2025, uses an end-to-end world model to capture real-time images and make decisions directly.
Cointime update: Guangdong Power Artificial Intelligence Experimental Research Institute Co. increased its registered capital from 10 million yuan to 150 million yuan, a 1,400% rise. New shareholders include China Energy Engineering Group Guangdong Electric Power Design Institute, Inner Mongolia Power (Group), Yunnan Aluminium and Shanghai AI Laboratory. The company, founded in April 2025 with legal representative Lu Zhiliang, is now jointly held by China Southern Power Grid Digital Grid Group and the new shareholders.
Cointime update: China’s National Energy Administration on Wednesday published a list of 93 projects proposed for its “AI Plus” energy pilot program, including an intelligent decision-making system for substation main equipment maintenance. The list follows expert review and re-verification under the NEA’s call for high-value AI energy scenarios and pilot applications. The public comment period runs from November 5 to 11, 2026.
Cointime reports: Goldman Sachs and Apollo Global Management have begun approaching Wall Street investors to sell portions of an approximately $40 billion chip financing deal for SpaceX, with some investors invited to subscribe up to $500 million ahead of a formal syndication process. SpaceX said the structure keeps the debt off its balance sheet and is the largest GPU financing arrangement of its kind on record. The move comes as Democrats’ sweeping midterm election victory unsettles the AI boom.
Cointime update: Alibaba Cloud’s Lingjun Zhenwu M890 supernode has completed Day0 adaptation for the model weights of Moonshot AI’s Kimi K3.1 Pro, the cloud unit said. The adaptation was fully validated end-to-end on the two mainstream open-source inference frameworks, vLLM and SGLang.
Cointime reports: Arm Holdings reported second-quarter adjusted earnings per share of 52 cents, beating the 47-cent estimate, with adjusted net income of $566 million versus $514.2 million expected and adjusted operating profit of $638 million against a $575.7 million estimate. The chip designer guided third-quarter revenue to a range of $1.49 billion to $1.59 billion, compared with a market estimate of $1.53 billion.
Cointime reports: Microsoft has declined to enter a major artificial intelligence partnership with UK-based AI firm Nscale, the Financial Times reported. The decision leaves the British company without a deal that would have marked a significant tie-up with the US software giant. No terms or reasons for Microsoft’s withdrawal were disclosed in the report.
Cointime update: Moonshot AI announced on Tuesday the release of Kimi Hosted Agents, offering the Harness that powers agents as a cloud service for enterprises and developers. Customers can obtain a 24/7 hosted environment without building or maintaining their own runtime framework, supporting long-horizon task execution and efficient multi-agent collaboration.
Cointime reports: Goldman Sachs said the US midterm election results amount to a “blue wave” that could significantly affect regulation of artificial intelligence and data centers. The bank wrote that Democrats won House and Senate majorities by a far wider margin than expected, and it expects them to use upcoming fiscal deadlines to seek policy concessions, particularly limits on the Iran war, reversal of some tariffs and rollback of recently implemented spending cuts.
Cointime update: Sand.ai has closed a $200 million Series A+ round, its third funding round of 2026, bringing total capital raised to $300 million over 10 months. The company said the round lifts it into unicorn territory. No valuation figure or investor names were disclosed.