Liang Wenfeng ranks in the top 10 of China's rich list for the first time, with a net worth of 280 billion yuan, surpassing Ding Lei.
Beating AI News Flash, October 27: Hurun Research Institute released the 2026 Hurun Rich List. 41-year-old Liang Wenfeng, founder of DeepSeek, made his debut on the list, ranking 7th in China with an estimated wealth of 280 billion yuan, surpassing NetEase’s Ding Lei and the Li Ka-shing family, making him the highest-net-worth new entrepreneur on the list this year. Liang was not featured on last year’s list. Hurun noted this was mainly because he had previously advocated “no commercialization.” However, DeepSeek launched large-scale financing this year: it closed its first round in June, and its pre-money valuation for the second round reached around 500 billion yuan in August. In October, DeepSeek secured 106 billion yuan in financing, pushing its post-money valuation to over 600 billion yuan. It should be noted that the Hurun List uses September 1 as the cutoff date for wealth calculations, and the 280 billion yuan figure is only an estimated personal fortune. AI is also reshaping the entire rich list: ByteDance’s Zhang Yiming saw his wealth rise by 200 billion yuan, returning to China’s top spot with 670 billion yuan; Cambricon’s Chen Tianshi entered the top 10 with 205 billion yuan; Zhipu AI’s Liu Debin and Tang Jie made their debuts with 39.5 billion yuan and 27.5 billion yuan respectively. Hurun statistics show that over 160 entrepreneurs on this year’s list derive their wealth from the AI sector, accounting for roughly 10% of the total entrants.
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WTI and Brent crude oil futures dropped around $0.7 in the short term, and Qatar has submitted a new draft agreement to Iran.
WTI and Brent crude oil have dropped roughly $0.7 from their intraday peaks, now trading at $100.75 per barrel and $110.89 per barrel respectively. On the news front, Qatari mediators submitted a new draft agreement to Iran on Sunday; Iran is reviewing the proposal and is expected to respond within this week.
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US pre-market trading saw general gains in optical communication, Neocloud, and semiconductor stocks, while the storage sector was mixed, with HOOD falling over 8%.
According to data from the BIT Stock Platform, pre-market trading in US stocks saw strength in optical communications, Neocloud, semiconductors, and most storage stocks, while crypto-related stocks were mixed. The three major index futures were mixed: S&P 500 futures rose 0.11%, Nasdaq 100 futures gained 0.54%, and Dow Jones futures fell 0.21%. SpaceX (SPCX) climbed 0.81% in pre-market trading.
All optical communications-related stocks advanced: Credo (CRDO) up 2.78%, Applied Optoelectronics (AAOI) up 2.27%, Coherent (COHR) up 2.15%, Ciena (CIEN) up 1.95%, and Lumentum (LITE) up 1.79%. Most Neocloud stocks rose: IREN up 2.33%, Nebius (NBIS) up 2.14%, Astera Labs (ALAB) up 2.02%, Cipher Digital (CIFR) up 2.00%, CoreWeave (CRWV) up 1.90%, while AST SpaceMobile (ASTS) dipped 0.12%.
Semiconductor stocks were broadly higher: Micron Technology (MU) up 4.40%, Arm (ARM) up 2.38%, Intel (INTC) up 2.20%, Marvell Technology (MRVL) up 2.17%, AMD up 1.91%, ASML up 1.27%, Broadcom (AVGO) up 1.24%, NVIDIA (NVDA) up 0.77%, and TSMC (TSM) up 0.43%. Storage stocks showed mixed performance: SK Hynix (SKHY) up 8.11%, SanDisk (SNDK) up 5.03%, Western Digital (WDC) up 1.21%, while Seagate Technology (STX) fell 3.23%.
Crypto-related stocks were mixed: BitMine (BMNR) up 1.41%, MARA up 0.99%, Strategy (MSTR) up 0.81%, Robinhood (HOOD) down 8.42%, Coinbase (COIN) down 1.58%, and Circle (CRCL) down 0.40%.
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A bizarre repository deletion incident unfolded on GitHub: A company acquired by Anthropic was conducting code cleanup, which caused customers’ code to vanish within two seconds, leading to initial suspicions of a hacker breach.
Beating AI Express: In May this year, Anthropic acquired SDK generation tool provider Stainless, which subsequently announced it would phase out its original hosting services. On October 27, a Stainless employee deleted one of the company’s private GitHub repositories, accidentally taking down its customers’ code in the process. The affected party was payment platform Dodo Payments, which had previously forked code from Stainless’s private repository and relied entirely on this repo for its entire SDK generation workflow. Less than two seconds after Stainless deleted its original repo, Dodo’s private fork was automatically deleted—with no prior warning. It emerged that GitHub has a rule: when a private repository is deleted, all its private forks are automatically removed. Even more concerning: Dodo’s audit logs only showed an external party executing the `repo.destroy` command, with no indication this was a chain reaction from an upstream repo deletion. Co-founder Ayush Agarwal could not find any authorization records from the other party, nor was the repo listed in GitHub’s recoverable items, leading him to initially suspect his company had been hacked. GitHub customer support later helped the team pinpoint the root cause. Fortunately, Dodo had local code backups, so it eventually re-uploaded the code as an independent repository, and its SDK has resumed operation. Agarwal called on GitHub to clearly mark upstream repo deletion causes in audit logs. He also reminded other Stainless customers to convert their private forks still dependent on upstream services to independent repositories as soon as possible.
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Amazon Earnings Preview: Focus on AWS' Robust Growth and Margin Recovery, Revenue Expected to Rise 12.25% Year-over-Year
Amazon will release its earnings report after Thursday’s US stock market close, with the focus on whether AWS can return to above 40% growth, its $220 billion capital expenditure, and ad monetization efficiency. For the third quarter of fiscal 2026, the single-quarter revenue forecast is $202.244 billion, expected to rise 12.25% year-over-year; net profit is projected at $21.363 billion, up 0.83% year-over-year. Major investment banks have issued their outlooks: Bank of America forecasts AWS revenue to grow 40% year-over-year, above the market consensus of 38%; HSBC projects its operating profit to reach $27 billion, with sales slightly exceeding the upper end of the guidance; JPMorgan believes AWS margin expansion and improved retail business efficiency will continue to drive profit growth; Morgan Stanley highlights the retail business’s layout in intelligent agent commerce and the market position of its Bedrock AI platform.
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