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More →Hong Kong-listed large-model concept stocks strengthen, MINIMAX rises 8%.
According to CoinWorld news, as of press time, minimax-w (00100.hk) rose 8%, after falling below its issue price yesterday, while Zhipu (02513.hk) rose 5%. On the news front, minimax announced the open-sourcing of the m3.1 flash model, which, compared with the previous-generation m3 model, achieves an all-around improvement in capabilities and reduces usage costs by 70%. The model's online inference speed has increased by nearly three times.
U.S. stocks closed: S&P 500 and Nasdaq fell sharply as AI doubts triggered a selloff in tech stocks.
According to Reuters, the S&P 500 and Nasdaq closed sharply lower as renewed doubts about artificial intelligence triggered a selloff in technology stocks.
Volvo Cars reported an adjusted gross margin of 14.7% for the third quarter, down from 20.4% a year earlier, Cailian Press reported on October 23. The adjusted EBIT margin was -5.6%, compared with 6.7% a year earlier. Volvo Cars' chief executive said the company needs to return to the Chinese market with domestically produced cars.
CoinWorld news, Cailian Press, October 23 — Volvo Cars' adjusted gross margin for the third quarter was 14.7%, compared with 20.4% in the same period last year; the adjusted EBIT margin was -5.6%, compared with 6.7% in the same period last year. Volvo Cars' CEO said the company needs to return to the Chinese market with domestically produced cars.
OpenAI partners with Poland's National Cybersecurity Agency (NASK) to advance AI safety and security
CoinWorld news: OpenAI has entered into a partnership with Poland's National Cybersecurity Agency (NASK) aimed at advancing the safety and security of artificial intelligence.
Wheat prices have fallen for eight consecutive weeks, marking the longest losing streak since 1997.
Wheat prices have fallen for eight consecutive weeks, marking the longest losing streak since 1997. Wheat futures are experiencing their longest weekly decline in nearly three decades. Although disruptive factors in the Black Sea region persist, the risk premium in the market has begun to fade as the Trump administration seeks to push for peace negotiations between Moscow and Kyiv. In addition, Russian wheat exports have increased, including shipments through Baltic ports. U.S. Department of Agriculture data show that export sales of U.S. soybeans, corn, and wheat all declined in the week ending October 15. Analyst Naomi Blohm noted that global importers may be choosing to wait and see whether a peace agreement can be reached in the Black Sea region.
The forma mainnet will cease operation at block height 34567890. Users are reminded to withdraw their funds.
According to a CoinWorld report, forma announced on Twitter that the mainnet will cease operation at block height 34,567,890, expected around November 5, and reminded users to withdraw funds before the chain stops. After shutdown, a snapshot will be taken and the remaining TIA will be migrated to eden; users can use their original wallet addresses to withdraw after the migration is complete. modularium and all NFT assets will be migrated to Ethereum, and holders must claim their NFTs through the relaunched modularium website; they will not be airdropped automatically. The migration may take several days after the chain stops, and the completion time and operational guidelines will be announced separately.
The California Public Employees' Retirement Fund reduced its investments in major technology companies.
Coin World news, according to a report by the UK Financial Times, the California Public Employees' Retirement System (Calpers) is reducing its investments in large technology companies and increasing its allocation to private equity. Calpers Deputy Chief Investment Officer Anton Orlich said the fund has diversified its heavy holdings in seven major technology companies across hundreds of enterprises, aiming to reduce equity investment risk. According to calculations based on regulatory filings, in the first half of 2026, the retirement fund cut its total holdings of the "Magnificent Seven" tech stocks by 26%. The seven companies include: Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta Platforms, and Tesla. Orlich pointed out that valuations in the public equity market are currently at high levels, and capital is highly concentrated in a small number of companies, which may relatively underperform in the future. He believes that asset pricing in the private equity market is more attractive, and if the public market declines in the future, this allocation may provide Calpers with a certain buffer.
Singapore's core inflation rate unexpectedly slowed in September.
CoinWorld data: Singapore's Department of Statistics released data showing that the core inflation rate (excluding housing and private transport costs) rose 2% year-on-year in September, lower than the 2.2% in the previous month and the 2.3% expected by analysts. The overall inflation rate was 2.2%, also lower than the 2.4% previously expected by analysts. As an economy highly dependent on imports, Singapore has largely withstood the impact of the rebound in global oil prices, and this data confirms the Monetary Authority of Singapore's decision to keep policy unchanged last week.
AI video startup Higgsfield receives investment from Nvidia.
CoinWorld news, AI video startup Higgsfield announced that it has received investment from Nvidia (NVDA) and TCV. This round of financing will be used to support its global infrastructure development and talent recruitment to meet growing market demand. The company is headquartered in San Francisco, with most of its engineering talent located in Kazakhstan. The financing news comes as Nvidia CEO Jensen Huang is visiting the country. This financing is a follow-on extension of its August Series B round, which was led by DST Global and raised $400 million, bringing the company's valuation to $5.4 billion. Higgsfield did not disclose the latest valuation or the specific amount raised in this round.
China's stock market has evaporated nearly 1.4 trillion, and the Shanghai index has fallen below its 52-week low.
According to CoinWorld news, Chinese stock markets have recently suffered a sharp sell-off, with the Shanghai index falling more than 2% to a 52-week low, wiping out nearly 1.4 trillion yuan in market value. The sell-off was mainly driven by concerns over excessive valuations in artificial intelligence, fading hopes for a new round of Chinese stimulus policies, and global market tensions caused by surging oil prices.