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According to CoinGlass data, the Coinbase Bitcoin Premium Index has recorded negative values for 46 consecutive days, with the latest at -0.15%, as purchasing power in the U.S. market continues to remain sluggish.Previously, on August 24, the Coinbase Bitcoin Premium Index showed a positive signal for the first time since May 19, reporting 0.0052%, temporarily ending the longest historical negative premium period of 97 days. The Coinbase Bitcoin Premium Index is used to measure the price difference of Bitcoin between Coinbase Pro and Binance. A sustained negative index typically indicates that Coinbase's pricing is relatively low, reflecting weak buying interest or significant selling pressure in the U.S. market, but it should not be solely relied upon to directly conclude that institutional funds are flowing out.

Tom Lee, Chairman of the Bitcoin treasury company Bitmine, stated in an interview with CNBC that the AI investment boom is far from over. As more and more users utilize tokens, the demand for computing resources may continue to rise, leading to a tightening of computing power supply again and driving related prices up. The bottleneck in AI infrastructure may once again become a focus of market attention. In addition, while many states and local communities in the United States welcome the economic benefits brought by AI investments, they will also seek to promote related investments based on their own conditions and strengthen AI safety regulations.

Market news indicates that Microsoft is gradually terminating its transactions with Oracle related to renting artificial intelligence cloud computing power.

CNBC cited four informed sources reporting that the Chinese artificial intelligence startup Dark Side of the Moon had discussions this year with several emerging cloud service providers operating data centers in Europe, seeking to rent computing power provided by NVIDIA GPUs. Three of the sources stated that Dark Side of the Moon primarily sought to rent NVIDIA's latest Blackwell series chips; one source indicated that the two parties had discussed renting a computing cluster deployed in Europe, consisting of 8,000 or more Blackwell chips.The sources said that Dark Side of the Moon mainly hopes to utilize these chips for AI model inference while also intending to acquire model training computing power. The United States currently prohibits the export of NVIDIA's most advanced AI chips to China, but existing laws have not granted regulatory agencies broad authority to restrict Chinese companies from remotely using these chips through overseas cloud services. Some cloud service providers and financing institutions, concerned about the U.S. tightening remote usage restrictions, have sought to charge higher advance payments, with proposals requiring Dark Side of the Moon to pay advance payments 30% to 50% higher than those of non-Chinese clients. Dark Side of the Moon was established in 2023 and owns the Kimi series models.

OpenAI released the "National Community Compact" and the "Compute Campus Policy Blueprint," referring to AI data centers as "Compute Campus," and made commitments regarding community communication, energy costs, and information transparency.The compact applies to the campuses that OpenAI will own and operate in the future. It clearly states that public officials will not be required to sign non-disclosure agreements (NDAs) as a condition for discussion or negotiation, retaining only limited protection for security information, trade secrets, or proprietary sensitive information; it will bear the full costs of electricity and supporting infrastructure, protecting other users' electricity rates; publicly disclose construction plans, as well as impacts such as noise, water usage, electricity usage, and sustainability.The policy blueprint calls for federal, state, and local governments to legislate to limit mandatory NDAs for public officials, require disclosure of environmental impacts and employment data, and protect residents from subsidizing the electricity costs of data centers.

On the night of the U.S. midterm elections, the Silicon Valley podcast All-In held a live broadcast where several tech investors discussed the potential impact of the Democratic Party's victory on the AI industry. Host Chamath Palihapitiya stated that AI investment has become an important pillar of U.S. economic growth, and the construction of data centers heavily relies on power supply. If the Democrats restrict the construction of new data centers in places like Texas, the entire AI industry could be affected. Host Jason Calacanis suggested that the tech industry, which had previously actively supported Trump, should now proactively engage with the Democrats to collaborate on AI regulatory policies. He also believed that the tech community's repeated warnings about AI potentially leading to human extinction and massive unemployment have exacerbated public fear of AI.All-In regular guest and founder of Altimeter Capital, Brad Gerstner, believes that many Democratic winners simply hope to have more say in AI regulation and do not intend to completely halt AI. He estimates that the power capacity for new data centers in the U.S., originally planned for 2027, may see 10 to 15GW unable to be operational on time. He remains optimistic about the growth of AI model companies and stated that as an existing investor in Anthropic, even if data center construction is hindered, Altimeter still hopes to be one of the largest buyers at the time of Anthropic's IPO.

Paragon, the market deployer of HIP-3 on Hyperliquid, announced the launch of Power Perps, with the first product tracking the square of the HYPE price, HYPE². Paragon stated that Power Perps will incorporate option-like convex returns into perpetual contracts, without a strike price or expiration date, tracking the power of the underlying price.According to Paragon, if the underlying price doubles, the square index reaches 4 times the initial value, and the cubic index reaches 8 times; for every $1 increase in the underlying, the index increase is greater than the previous dollar, while the decrease is smaller when it falls. This design references Power Perpetuals proposed by Dan Robinson, Dave White, Andrew Leone, and mentions that Opyn previously demonstrated the perpetual convexity of ETH² with Squeeth on Uniswap v3.Paragon claims that Hyperliquid features a high-performance order book, spot and linear perpetual markets available for hedging, and portfolio margin, allowing market makers to hedge their exposure to Power Perps in these markets. Its goal is to establish a convex trading market alongside the major markets on Hyperliquid. Paragon has previously launched crypto-native index perpetual markets such as Bitcoin Dominance, TOTAL2, and OTHERS on Hyperliquid.

OpenAI is gradually rolling out a GIF generation feature within ChatGPT, allowing users to describe animations in natural language or upload existing photos for ChatGPT to convert into GIFs. Once generated, users can adjust playback speed, view frames one by one, edit, and share the final product. According to The Verge, this feature is powered by OpenAI's new image generation model Images 2.6, which has not yet been officially announced through a product release.This GIF feature is part of the Images 2.6 update, which promises faster image generation speeds. The Verge reports that OpenAI is pushing this model to web, desktop, and mobile users of ChatGPT and Codex. Developers will also gain access to two new API models, GPT-Image-2.6 Flare and GPT-Image-2.6 Sunburst, aimed at faster generation speeds and higher quality results, respectively. OpenAI has not released a separate announcement detailing the capabilities of this model.This update follows the release of ChatGPT Images 2.5 in September, which brought sharper details, more precise editing, and up to a 50% increase in generation speed compared to the previous generation. Additionally, OpenAI shut down its standalone AI video generation application Sora in March. Currently, this feature is being rolled out gradually, and most users are temporarily unable to access it; OpenAI has not provided a specific timeline for when all ChatGPT accounts will gain access to the GIF generation feature.

On November 3 local time, voting for the U.S. midterm elections continued. U.S. President Trump stated that if the Democrats made progress in this election and gained control of Congress, he might force the Democrats to reach a bipartisan agreement by exercising presidential veto power. Trump said in an interview, "Historically, you just need to exercise the veto power for a few months in a row, and then they will come to you and say, 'We have to reach an agreement.'"Trump also stated that if the Democrats attempted to limit his power through Congress, he might further expand the use of executive power. In addition, Trump mentioned that he has done everything he can in the past few weeks to support Republican candidates across the country. He believes that his campaign has helped the Republican Party reverse the potential "blue wave" from the Democrats, making the election competition more intense.

According to a report by The Paper, the People's Court of Xuhui District, Shanghai, sentenced a certain Zong to three years in prison, with a three-year probation, for the crime of illegally obtaining data from a computer information system, and imposed a fine of 40,000 yuan. This case is the first in Shanghai involving the use of AI to forge signatures and misuse large model computing power. Reporters from The Paper learned from the People's Procuratorate of Xuhui District, Shanghai, that by the time of the incident, Zong had illegally accessed the AI platform's interface over 290,000 times, with illegal gains exceeding 34,000 yuan.The procuratorial authorities introduced that in December 2025, after self-learning to access the AI platform's interface, Zong targeted a large model aggregation platform operated by an artificial intelligence company. He found an interface that was not open to the public and built a transit website to resell AI drawing and video generation services at low prices, while actually using the paid computing power of that platform in the background. He used AI to write an automated registration script, batch registering nearly 300,000 free accounts to obtain bonus points for new users, and bypassed IP registration restrictions.In January of this year, after the platform added electronic signature verification, Zong continued to use AI tools to create scripts to forge signatures and persistently call the interface. Two video and graphic design applications under the victim company saw over 4 million accounts registered from the same IP in a short period. After reporting the case in March this year, Zong was arrested. The prosecuting attorney stated that the involved platform had never provided API paid access services to the public, and the user agreement explicitly prohibited automated scraping and bypassing verification.

According to exclusive reports from Axios Pro, sources say that the computing power trading platform Ornn is negotiating the third tranche of its Series A financing, which could value the computing power trading startup at over $1 billion. If the deal is finalized, Ornn will become the highest-valued startup in the field.This negotiation follows Ornn's completion of the second tranche of Series A financing at a valuation of $800 million, just about four months after it completed its seed round financing. In June of this year, Ornn completed a $33 million seed round financing led by a16z crypto.Ornn primarily builds financial infrastructure for AI computing power, connecting neocloud with the GPU computing power of data centers to buyers willing to sign short-term contracts, and publishes a computing power price index, which has been integrated into Bloomberg terminals. The Intercontinental Exchange (ICE) plans to launch contracts linked to the Ornn computing power price index, but has not yet received regulatory approval.

Elon Musk posted on the X platform, stating that the future superintelligent computing power will obviously be deployed mostly in space. This "mostly" means that this proportion will be rounded directly to 100%.

According to Binance spot market data, the market has experienced significant fluctuations. CVC has dropped 12.25% in the last 24 hours, and POWR has dropped 23.43%, showing a "high rebound and then drop" state.In addition, GNS has dropped 8.54% in the last 24 hours, BIO has dropped 11.38%, and SOLV has dropped 12.42%, also showing a "high rebound and then drop" state. CYBER has reached a new low today, with a drop of 5.46%, while RIF has reached a new low for the week, with a drop of 8.23%.On the other hand, TFUEL and PARTI have achieved increases of 7.7% and 5.04%, respectively, and are showing a "bottoming out and rising" state.

According to statistics from Cai Lian She Venture Capital Tong, 76 chip design companies on the Sci-Tech Innovation Board have disclosed their third-quarter reports, among which 67 companies have positive revenue growth (accounting for 88.16%), and 53 companies have positive net profit attributable to shareholders (accounting for 69.74%). The industry as a whole is recovering, with storage and computing power becoming the two main lines of performance elasticity.The storage segment performed outstandingly, with Changxin Technology achieving revenue of 269.024 billion yuan in the first three quarters, a year-on-year increase of 738.5%; Baiwei Storage reported revenue of 21.717 billion yuan, a year-on-year increase of 230.3%; and Dongxin Co., Ltd. reported revenue of 3.292 billion yuan, a year-on-year increase of approximately 475%. The computing power and interconnect segments followed closely, with Cambrian achieving revenue of 9.526 billion yuan, a year-on-year increase of 106.8%; Haiguang Information reported revenue of 14.955 billion yuan, a year-on-year increase of 57.6%; and Lanke Technology reported revenue of 5.414 billion yuan, a year-on-year increase of 33.4%.In addition, among the 28 companies that reported losses in the same period last year, 13 have turned losses into profits, and 6 have narrowed their losses. Overall, the chip design segment has entered a structurally prosperous phase driven by demand for AI infrastructure.

According to CoinGlass data, the Coinbase Bitcoin Premium Index has recorded negative values for 38 consecutive days, with the latest at -0.2434%, as purchasing power in the U.S. market continues to remain sluggish.Previously, on August 24, the Coinbase Bitcoin Premium Index showed a positive signal for the first time since May 19, reporting 0.0052%, temporarily ending the longest historical negative premium period of 97 days. The Coinbase Bitcoin Premium Index is used to measure the price difference of Bitcoin between Coinbase Pro and Binance. A sustained negative index typically indicates that Coinbase's prices are relatively low, reflecting weak buying interest or significant selling pressure in the U.S. market, but it should not be solely relied upon to conclude that institutional funds are flowing out.

According to a report by the Financial Times citing informed sources, Blackstone recently informed investors in a $63 billion chip financing deal for Anthropic that the company may not immediately receive an investment-grade rating after going public, with major rating agencies more likely to assign it a BB range rating, which is speculative grade (commonly referred to as "junk grade").According to the rating systems of S&P and Fitch, BBB- and above are considered investment grade, while BB+ and below are considered speculative grade. If Anthropic ultimately receives a junk grade rating, its financing costs may rise, and the range of funds available to institutions such as insurance companies and pension funds, which are subject to investment-grade investment restrictions, will also narrow.The financing pressure mainly comes from Anthropic's massive computing power expenditure plans. The company previously disclosed plans to invest over $800 billion in computing infrastructure by 2045. Although Anthropic currently holds over $112 billion in cash and cash equivalents and plans to further raise funds through an IPO, the long-term commitments to computing power still raise concerns among investors about its future funding needs and debt capacity.After the report was released, U.S. tech stocks fell further, with the Nasdaq 100 index ultimately down 3.5%. However, Anthropic has not yet received a formal credit rating from S&P, Moody's, or Fitch, and Blackstone's assessment is not an official rating result.