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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.

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.