Huang Renxun has left Beijing, and NVIDIA has not disclosed whether Huang Renxun met with the DeepSeek founder.

AI cloud computing firm Nebius Group announced plans to issue a total of $4.5 billion in convertible senior notes via private placement, including $2.75 billion in notes maturing in 2030 and $1.75 billion in notes maturing in 2034. Proceeds from the offering will be used to drive business expansion, such as constructing and expanding data centers, developing its full-stack AI cloud platform, scaling its data center footprint, and procuring critical infrastructure equipment including GPUs. Additionally, the company expects to conduct private exchange transactions with holders of certain convertible notes maturing in 2029 and 2031 to optimize its debt structure. The offering remains subject to market conditions, with final terms including interest rates and conversion prices to be determined at pricing.

Over the past 24 hours, 174,350 traders were liquidated for a total of $2.98B! This is now the 8th-largest crypto liquidation event in history.

According to EmberCN’s monitoring, well-known trader "Machi Big Brother" has long maintained a large long position in ETH via his address. Over the past year, he has experienced hundreds, even thousands, of liquidations due to high-leverage trading. Following ETH’s recent 17% single-day rally, his ETH long position worth $48.22 million has now posted an unrealized profit of around $3.34 million, finally reaping a phased return. However, the trader’s cumulative losses to date still stand at $31.5 million.

Marvell Technology filed documents with the U.S. Securities and Exchange Commission (SEC) on August 19, disclosing that it has expanded its custom semiconductor partnership with Google. The two firms signed a commercial agreement on July 29 covering products related to Google’s TPU ecosystem, including AI inference accelerators, storage controllers, network interface controllers, memory interface controllers, and near-memory computing solutions. As part of the collaboration, Marvell issued warrants to Google on August 18, allowing Google to buy up to approximately 58.97 million common shares of the company at $206.58 per share, with a total exercise value of around $12.2 billion. Of these shares, about 1.36 million will vest over the first year, while the remaining will vest in tranches tied to Google’s future revenue from custom product purchases—one tranche for every $5 billion in revenue—with the longest vesting period extending to fiscal 2033, corresponding to a potential cumulative revenue cap of roughly $120 billion. After the announcement, Marvell’s stock jumped more than 11%, while rival Broadcom’s share price fell. Analysts say the move bolsters Marvell’s position in the custom chip space for hyperscale cloud providers.

OpenAI CFO Sarah Friar told employees at an August 19 all-hands meeting that the company plans to go public in 2027, though it could list earlier if its business continues to accelerate. She stressed that an IPO is merely a milestone, not an end goal, adding that OpenAI raised $122 billion in March, giving it ample financial flexibility. Earlier this year, OpenAI confidentially submitted an S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) in June. Separately, The Wall Street Journal (WSJ) reported that the company’s second-quarter 2026 revenue reached $6.7 billion, up 18% quarter-over-quarter, while its operating loss widened to $12.3 billion, meaning it has yet to turn a profit.

Goldman Sachs is testing investor demand for a roughly $1.15 billion junk bond issue, with proceeds earmarked for building a data center leased to AI cloud computing firm CoreWeave. Sources familiar with the matter said the project, located near Richmond, Virginia, is developed by PowerHouse Data Centers (a subsidiary of American Real Estate Partners) and Chirisa Technology Parks, and is slated to hit the market as early as September. The financing comes as investors grow cautious about AI infrastructure debt. With AI data center-related bond issuances surging this year, the market has started demanding higher yields. CoreWeave has previously backed numerous high-yield bond offerings from data center developers via long-term lease deals, though its speculative-grade credit rating has also lifted financing costs.