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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.

According to Catcher Predict monitoring on-chain data, significant capital movements are predicted in the Polymarket market. A large whale invested $290,608.89 in the event "Power Balance: 2026 Midterm Elections" for the outcome "Republican Victory." Based on the current transaction price, the latest corresponding winning probability for this target is 94%.

On October 29, the cryptocurrency research institution Delphi Digital released a report titled "The AI Boom Has a Power Problem," authored by Accelxr. The report states that deployable AI computing power depends on chip supply, as well as sites that are powered, cooled, and connected to the grid. Electricity is harder to supplement in the short term than chips, as chip production capacity can expand quarterly, while new power generation and transmission take years.The report cites data indicating that the PJM capacity auction has cleared at the price cap for three consecutive times, with the last two still falling short of reliability targets by 6.6 to 6.8 GW, marking the first time such a gap has occurred in the history of this auction. The scale of large load queues in Texas ERCOT increased from 63 GW at the end of 2024 to 474 GW in June, with about 90% being data centers; the governor requested an audit of the data centers in the queue in August, and ERCOT subsequently suspended power approval for data centers and cryptocurrency miners of 75 MW and above, including 17 projects that had passed stability studies.The report also states that U.S. data centers are expected to account for about 4.7% of the nation's electricity consumption in 2024, with LBNL predicting an increase to 9.5% to 15.3% by 2030, and EPRI estimating a maximum of 17%. In a 1 GW facility, chip depreciation is about $2.8 billion to $3.3 billion per year, equivalent to about $8 million per day. SemiAnalysis predicts that by 2028, the U.S. will have over 40 GW of data center capacity utilizing behind-the-meter power sources; the delivery cycle for large gas turbines is about five years, with GE Vernova, Siemens Energy, and Mitsubishi Heavy Industries forming an oligopoly. Wood Mackenzie expects gas turbine prices to reach $600 per kilowatt by the end of 2027, nearly three times the level of 2019.

HSBC assesses that, combined with the previous financing of 35 billion dollars corresponding to over 1 gigawatt, this transaction roughly supports the deployment of 1.7 to 1.8 gigawatts, which still falls short of the management's target of 5 gigawatts by 2027. Future attention needs to be paid to the continuation of funding.

According to Business Insider, AI computing infrastructure startup Hyperbolic has completed a $30 million A-1 round of financing, led by Walden Catalyst, co-founded by Intel CEO Lip-Bu Tan and former Samsung President Young Sohn, with participation from Dell Technologies Capital, General Catalyst, and others.

The United States provides $5 billion in financing to Constellation to enhance nuclear power generation.

On October 21, the payment network Visa announced three capabilities aimed at the growth of commercial cards, the security of virtual cards, and the automation of commercial payments in San Francisco, serving financial institutions, fintech companies, and enterprises. Darren Parslow, Global Head of Visa Commercial Solutions, stated that companies are accelerating the automation of payment-related tasks from identifying vendor opportunities to approving invoices and executing transactions. These capabilities are designed to provide the necessary data, security, and control.The three capabilities are SESA 2.0, Visa Commercial Fraud Solutions, and a live pilot conducted with the billing platform BILL and the accounts receivable platform Billtrust. SESA 2.0 combines AI vendor scoring, Visa commercial payment data, buyer benchmarks, and business value modeling to help identify vendors more likely to accept commercial cards and estimate growth opportunities. Visa claims that since its launch, SESA has helped financial institutions discover over $600 billion in potential cardable spending.Visa Commercial Fraud Solutions covers vendor verification, authenticating commercial virtual card users through 3-D Secure, and transaction-level controls such as spending, merchant category, location, and time. Payment controls have already been provided to eligible issuing institutions in supported countries and regions, while the other two are currently in pilot and are planned for full rollout in 2027. Visa also stated that the pilot with BILL and Billtrust has gone live, allowing trusted AI agents to initiate and assist in completing approved invoice payments through the vendor portal, using tokenized payment credentials without relying on shared vendor portal login credentials.

After Anthropic publicly submitted its prospectus the previous evening, investment institutions and market participants began to assess its growth quality, cost structure, and potential valuation. Morningstar senior equity analyst Malik Ahmed Khan and PitchBook analyst Rolfes stated that as of September 30, Anthropic had over 11,900 enterprise customers contributing at least $100,000 in revenue over the last 12 months, compared to about 950 in the same period last year. Khan believes this reflects a faster adoption of Claude in the enterprise market and significant revenue growth.Analysts also pointed out that the rapid increase in customer numbers alone is insufficient to indicate long-term revenue stability. The prospectus lacks detailed data on customer retention, and the disclosed net revenue retention rate is also affected by a small base; as the comparison base expands, this metric may decline. Investment in computing power is another focus. Morningstar believes that Anthropic currently demonstrates a certain level of computing efficiency and operational efficiency, but some computing resources and related expenditures have not yet been fully reflected; as more computing power is utilized, costs may rise, and if revenue growth does not keep pace, profit margins will be under pressure.PitchBook analyst Rolfes reminded that the scale of future computing contracts and infrastructure commitments is enormous, and whether revenue growth can be sustained is an important variable in assessing profitability prospects. Gavin Baker, managing partner and chief investment officer of Atreides Management, stated that it is still possible for Anthropic to reach an annualized recurring revenue of $100 billion by the end of the year; this statement reflects his personal judgment and is not the company's published performance guidance. Nigel Green, CEO of independent financial advisory firm deVere Group, questioned the market's rumored potential valuation of $2 trillion, calling this expectation "absurd," and reminded to pay attention to infrastructure investments, slowing growth, and future financing needs. The $2 trillion figure remains a market rumor, and the prospectus has yet to determine the offering price and scale.

Arthur Hayes, co-founder of BitMEX and CEO of Flop Labs, proposed in the article "The Trifecta" a plan to establish a spot and derivatives market for AI computing power based on the Flop Network. He believes that there is currently a lack of a unified price benchmark for computing power globally. The Flop Network can form a computing power reference price (FRCR) by recording the amount of computation, time taken, and FLOP payment fees for AI inference tasks.On this basis, users can pre-order computing power for up to 30 days in advance and trade corresponding computing power contracts (FCU), thereby supporting quarterly futures and perpetual contracts settled in USD. Hayes stated that following the concepts of perpetual contracts and synthetic USD stablecoins, he hopes that AI computing power derivatives will become the third innovation widely adopted by financial markets.

Anthropic stated in the S-1 filing that computing power is a key issue the company faces. If it cannot obtain sufficient computing power or fails to allocate it effectively, the company may not be able to train models that remain competitive with its rivals.Anthropic is paying fees to obtain computing capacity from companies like SpaceX, but it expects that demand will continue to exceed supply in the short term.

a16z recently submitted a public comment letter to the U.S. Commodity Futures Trading Commission (CFTC) in response to the CFTC's request for comments on the listing of computing power derivative contracts, expressing support for establishing a regulated computing power derivatives market in the United States. The related derivatives would help AI startups and cloud service providers hedge against computing power price, utilization, and duration risks, and reduce the financing costs of AI infrastructure.a16z stated that the CFTC does not need new statutory authority, as the Commodity Exchange Act (CEA), Part 38 core principles, and Part 40 self-certification process are sufficient, and no new rules are needed prior to listing. The letter suggested that the CFTC rely on the existing regulatory framework to support the adoption of computing power price benchmarks that comply with the principles of the International Organization of Securities Commissions (IOSCO), and allow exchanges to launch cash-settled computing power futures, including fixed-term futures and perpetual contracts.a16z crypto is an investor in Ornn, and ICE announced in May plans to launch GPU computing power futures based on the Ornn Computing Power Price Index (OCPI).

Elon Musk stated that due to the pressure from the debt market environment, over 200 new computing cloud companies will face industry consolidation, with only a few companies able to survive.

According to Slow Fog monitoring, Yapeswap suffered an attack, resulting in a loss of approximately $21,900. The root of the incident lies in the WorkersUnion governance mechanism, where the quorum requirement is zero, allowing a proposal that received only about 0.000055% voting support to transfer the feeToSetter authority of YapeFactory to the attacker.The attacker subsequently deployed a malicious Registry contract, causing latestVault() to return a forged vault address, while vaults() still listed the real vault. YapePair accounted for the deposits to be transferred as farm assets, but did not receive redeemable shares, ultimately leading to a loss of funds. This incident involves contracts such as YapeFactory, YapePair, and YapeWrapper.

According to Catcher Predict's monitoring of on-chain data, there is a prediction of significant capital movement in the Polymarket market. A large whale invested $64,000 in the event "Power Balance: 2026 Midterm Elections" for the outcome "Republican Victory." Based on the current transaction price, the latest corresponding winning probability for this target is 8%.

According to CoinGlass data, the Coinbase Bitcoin premium index has recorded negative values for 31 consecutive days, with the latest at -0.1353%, indicating that purchasing power in the U.S. market has once again fallen into a slump.Previously, on August 24, the Coinbase Bitcoin premium index reappeared with a positive signal for the first time since May 19, reporting at 0.0052%, momentarily 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 means that Coinbase's pricing is relatively low, which may reflect weak buying interest or significant selling pressure in the U.S. market, but it is not advisable to directly conclude that institutional funds are flowing out based solely on this indicator.