There is no such thing as a universal asset; they are simply assets with different roles: US Treasury bonds are like wages, gold is like insurance, and Bitcoin is like options.

According to ChainCatcher citing Dow Jones and Bloomberg, Moonshot AI, the developer of Kimi, is considering a Hong Kong IPO in early 2027 and is dismantling its overseas holding structure to prepare for a listing. Bloomberg previously reported that Moonshot AI had completed its latest private funding round at a valuation of about $50 billion, was considering raising up to $5 billion in an IPO, and had confidentially filed a listing application with the Hong Kong Stock Exchange. Moonshot AI previously declined to comment on market rumors or speculation.

After Jensen Huang's resignation, Nvidia has a chairman for the first time. CFO Kress temporarily took over, and Harvey Jones chaired the board of directors. The company is shedding the founder's leather jacket.

Nvidia, the world’s most valuable company, has suddenly lost a leader closely tied to its fortunes, but it is not the first company to face the departure of a central executive. According to Sina Finance, investors call the resulting exposure “key-person risk,” and some companies have lost hundreds of millions of dollars in market value after senior leaders left. Apple lost co-founder Steve Jobs, who died of cancer; McDonald’s fired Steve Easterbrook over an improper relationship with a subordinate; and Nissan removed Carlos Ghosn as chairman in 2018 after his arrest in Tokyo on allegations including underreporting income. One exception was Wynn Resorts: its shares rose 8% the day after founder Steve Wynn resigned following sexual misconduct allegations. Leadership experts say companies may recover faster when successors are experienced operators willing to make difficult changes. Spencer Stuart’s James Citrin said credibility is key and there is no universal succession plan. At Apple, Tim Cook eased doubts through a more cautious management approach and launched dividends and share buybacks in 2012. Yale professor Jeffrey Sonnenfeld said Cook could consult experienced CEOs on Apple’s board, including Bob Iger of Disney and Mickey Drexler of Gap, while Nvidia’s current directors lack comparable long-term experience running public companies. Uber appointed Expedia CEO Dara Khosrowshahi in 2017 amid multiple crises following Travis Kalanick’s resignation. Khosrowshahi was tasked with repairing the company’s culture and preparing for a 2019 IPO while curbing billions of dollars in losses. He built a management team and later made further changes after the IPO underperformed expectations. Ghosn’s 2018 departure left Renault and Nissan with a power vacuum, talent losses and internal disputes. Renault has had three CEOs since 2019, while Nissan has undergone repeated leadership and strategy changes, including the collapse of a proposed merger with Honda. The Renault-Nissan alliance remains, but its terms have been revised; Sonnenfeld said both companies have distanced themselves from Ghosn.

Bloomberg reconstructs the final hours before Jensen Huang's resignation: He suffered a mental breakdown, blamed himself, saying "I'm a bad person," and the board held an emergency meeting overnight to decide to ask him to resign.

International Container Terminal Services Inc. will remain listed on the Philippine stock market and is exploring ways to improve liquidity, according to Bloomberg. The Philippines’ most valuable company is also targeting additional ports.

Where does China stand in the global robotics race? What are its competitive advantages? More importantly, where are the untapped investment opportunities?

Several deals, including Anthropic's multi-billion dollar IPO investment, Figure AI's additional $1 billion, and Nscale's over $5 billion credit guarantee, remain uncertain. Meanwhile, its $500 billion AI funding platform has stalled, with some clients reportedly considering switching to AMD or Google.

We come from decentralization, but in reality we have to come back to reality. Regulation and policy have almost dominated the crypto industry. The dragon slayer ends up becoming the dragon himself. This is the eternal cycle of business.

Jensen Huang's departure even caused a stir among immigrants: in the face of Trump's increasingly stringent visa policies, Huang was one of the few leaders willing to speak out publicly and provide support for foreign employees in the tech industry.

Google officially released Gemini 4 Hydrogen and simultaneously launched the multi-model intelligent scheduling system Orchestrator.

Deutsche Bank has officially launched its cryptocurrency custody service for corporate and institutional clients across Europe, bringing a digital asset project developed over five years into commercial operation.

The impact of Jensen Huang's departure is spreading from Nvidia to the AI ​​industry chain in the US stock market.