Oracle cancels Tencent's $7 billion AI chip lease: Even leasing chips overseas can't escape US pressure
Beating AI News Flash: Oracle has canceled its roughly $7 billion AI computing power lease deal with Tencent amid pressure from the Trump administration. The deal was originally Tencent’s largest overseas computing power contract, set to run for five years, with multiple data centers across Southeast Asia, providing up to around 100,000 advanced AI chips. Tencent turned to overseas chip leasing because the U.S. restricts exports of advanced AI chips to China, though Chinese firms can still remotely lease computing power deployed abroad. This channel has not been fully banned, but U.S. officials directly approached Oracle to raise concerns over the transaction. The day prior, NVIDIA was also reported to have required overseas cloud service providers to allocate at least 51% of their services to non-Chinese customers; the requirement is currently non-mandatory guidance. The two incidents point to the same shift: the U.S. is tightening access to overseas computing power for Chinese AI companies, with restrictions expanding from chip exports to overseas leasing transactions.
6 minutes ago
US stock market rebound sparks short covering, crypto whale exits with $17 million in losses on its short position.
According to TradingBeats’ monitoring, a crypto whale opened five short positions in U.S. stock-linked contracts this morning amid a market downturn, then fully covered all positions during the afternoon rebound, with a total trading volume of approximately $17.33 million and a combined trading loss of around $220,000. The short positions were established after the decline had already begun. When the whale initiated short positions on SpaceX and Tesla this morning, their respective contracts had already fallen by about 3.6% and 2.7%; the whale subsequently added to short bets and opened new short positions on Amazon, Microsoft, and Meta. The average entry prices for the SpaceX and Tesla short positions were $133.13 and $381.15 respectively, only roughly 1.1% and 0.7% higher than their morning lows. Notably, the Tesla short position was opened precisely in the minute when the morning low was hit. As the market rebounded in the afternoon, the whale covered the SpaceX and Tesla shorts at average prices of $135.08 and $384.22, incurring losses of approximately $108,800 and $48,300; the Amazon, Microsoft, and Meta shorts incurred additional losses of around $24,700, $21,400, and $16,800 respectively.
6 minutes ago
Alchemy Pay secures a money transmitter license in Mississippi, bringing its total number of licensed U.S. states to 20.
Fiat and crypto payment service provider Alchemy Pay announced it has obtained a Money Transmitter License (MTL) from the Mississippi Department of Banking and Consumer Finance. This brings the total number of U.S. states where Alchemy Pay holds an MTL to 20, with additional license applications underway in multiple jurisdictions. The company stated that expanding its U.S. compliance coverage will help advance fiat-to-crypto conversion and payment services, and support its stablecoin-related initiatives as well as Alchemy Chain, a Layer 1 network designed for stablecoin payments.
6 minutes ago
A crypto whale loaded nearly $30 million into semiconductor long positions this afternoon, covering SNDK, MRVL and others.
According to TradingBeats monitoring, a crypto whale sequentially opened long positions in Marvell, SK Hynix, and SanDisk this afternoon, with total position opening volume of roughly $29.07 million, and all three trades used 3x leverage. As of press time, details are as follows: - SanDisk (SNDK): Purchased ~$14.81 million at an average price of $1,123.31, with current unrealized profit of ~$137,000; - Marvell (MRVL): Purchased ~$7.92 million at an average price of $171.94, with current unrealized profit of ~$78,600; - SK Hynix (SKHX): Purchased ~$6.34 million at an average price of $1,043.20, with current unrealized profit of ~$32,200.
6 minutes ago
The three major U.S. stock index futures continue to rise, with Nasdaq and S&P 500 futures both turning positive.
According to data from the BIT Stock Platform, the three major U.S. stock index futures continued to climb. Nasdaq futures and S&P 500 index futures both turned positive, after previously falling more than 2% and 1% respectively, while Dow Jones futures rose 0.45%.
6 minutes ago
Zcash Community Grant Committee withdraws its proposal to transfer approximately 98,000 ZEC to miner rewards.
Privacy public blockchain Zcash (ZEC) community grant committee ZCG has announced it will not move forward with the proposal it put forward on October 29, which aimed to allocate around 98,000 ZEC for future mining rewards. The committee stated that future funding arrangements will be determined through Zcash’s existing governance processes.
ZCG currently automatically receives 8% of all newly issued ZEC, equal to roughly 144 ZEC per day. Its treasury is large enough to cover years of expenditures, and its allocation model and accountability mechanisms have recently sparked community controversy. Under the original proposal, the committee planned to set aside 36,200 ZEC from its ~91,500 ZEC treasury for the network sustainability mechanism, to supplement miners’ block rewards, and correspondingly reduce its expected revenue ahead of the 2028 halving.
Co-founder Sean Bowe, founder Zooko Wilcox, and developer Daira-Emma Hopwood have all put forward various proposals—including ending automatic allocations, restructuring fund uses, or focusing on promoting ZEC adoption—but none have been approved. Until a network upgrade revises the relevant rules, ZCG will continue to receive approximately 144 ZEC daily.
6 minutes ago
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