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

According to market data from BIT (bit.com), the three major U.S. stock indexes closed lower across the board: the Dow Jones Industrial Average fell 0.85%, the S&P 500 dropped 0.18%, and the Nasdaq slipped 0.06%. Microsoft rose more than 2%, hitting a new high since November last year. Geopolitical risks flared up again, sending oil prices surging over 3%, reviving inflationary pressures and weighing on U.S. stocks. Market focus has shifted to the non-farm payrolls report due out on Friday. Despite SanDisk and Western Digital both reporting better-than-expected earnings yesterday, their stocks still plunged, dragging down the entire storage sector. The Roundhill Storage ETF fell more than 4%, Western Digital dropped over 13%, Kioxia ADR and SanDisk each fell more than 6%, SK Hynix declined around 5%, and Micron Technology fell more than 1%. U.S. AI software stocks plummeted, with Datadog and AppLovin down over 19%, EPAM Systems falling more than 15%, and Axon Enterprise dropping over 14%.

According to BIT (bit.com) market data, SpaceX shrugged off the massive unlock of 911.5 million shares, surging over 6%. Its total market cap reclaimed above $1.5 trillion, with shares currently trading at $114.92. Space-themed stocks followed the rebound: Redwire (RDW) rose 10.35%, Rocket Lab (RKLB) gained 1.14%, and Virgin Galactic (SPCE) climbed 1.38%. SpaceX faced an unlock of up to 911.5 million shares on Thursday, equivalent to over 140% of its current public float, amplifying short-term stock price volatility. By the end of this year, more than 4 billion shares are expected to become tradable, potentially exerting sustained selling pressure on the stock, though the market remains focused on the company’s long-term fundamentals.

US President Trump has signed an executive order invoking Section 232 of the 1962 Trade Expansion Act to impose minimum import prices and additional tariffs on imported polysilicon and its derivatives, aimed at supporting the domestic polysilicon, semiconductor, and solar supply chains. The order specifies the following minimum import prices: $21 per kilogram for polysilicon; $100 per kilogram for polysilicon ingots and wafers; $0.22 per watt for solar cells; and $0.38 per watt for solar modules. Separately, the US will levy an additional 15% ad valorem tariff on polysilicon ingots and related derivatives listed in the order’s annex. The measures will take effect at 12:01 a.m. Eastern Time on December 4, 2026. The executive order also authorizes the US Department of Commerce to establish a “Return to America” incentive program. Companies that pledge to build, renovate or expand production facilities for polysilicon, ingots, wafers or solar cells in the US and start construction by January 20, 2029, may apply for exemption from Section 232 tariffs on certain imported equipment and related products. (CCTV)

Michael Burry, the real-life inspiration behind *The Big Short*, disclosed his latest holdings: he shorted Oracle at $144.63 and Nebius at $211.77.

According to MLM monitoring, Trade.xyz’s fee-receiving wallet has transferred $3.25 million from its perpetual contract fee wallet to its spot account, and has begun purchasing approximately 59,000 HYPE tokens worth around $3 million via a TWAP strategy. Earlier, on August 5, Trade.xyz transferred 250,000 USDC from its perpetual contract fee wallet to its spot account, using roughly $110,000 of that sum to buy 2,000 HYPE tokens, which were subsequently used to acquire a HIP-3 Ticker. This marks the first time Trade.xyz has used perpetual contract fee revenue to purchase HYPE; prior to this, all HYPE used for buying new HIP-3 Tickers was funded by spot fee revenue.

OpenAI announced that ChatGPT will update GPT-5.6 Sol for Plus and Pro users, making responses more focused, factually reliable, and cutting unnecessary formatting and details. The model will support both instant answers and deep reasoning, with users able to adjust the level of thinking allocated to each response via a new slider. In internal evaluations of financial, medical, and legal queries, OpenAI found that compared to GPT-5.5 Instant, GPT-5.6 Luna reduced responses with at least one factual error by roughly 62%, while GPT-5.6 Sol saw a 68% drop. GPT-5.6 Luna will become the default model for Free and Go users this week. Starting next week, free users will get unlimited text chats and can handle queries requiring deeper reasoning via a new "Think" button, though they will remain subject to anti-abuse rules; file uploads, image tools, and other features will stay restricted. This update only applies to ChatGPT’s daily conversation experience—GPT-5.6 Sol used in Work and Codex will not be adjusted in this rollout.