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2026-11-13
17:14
T. Rowe Price: AI Stock Selloff Reflects Valuation Reassessment Rather Than Weakening Demand; Mkt Light Shed on NVIDIA R&D Pace

T. Rowe Price global equity portfolio specialist Jennifer O'Hara Martin said recent market jitters and the sharp selloff in AI stocks largely reflected investors' reassessment of valuations and expectations, rather than weakening demand. She still believed demand for AI computing power and infrastructure remains strong, while industry supply continues to be tight.

The resignation of NVIDIA (NVDA.US) CEO Jensen Huang was a company-specific event rather than a fundamental change in the outlook for AI demand, she said, adding that she is more focused on how NVIDIA's organizational and decision-making structure will be adjusted, believing the transition may require a new organizational structure rather than simply appointing a new CEO.

However, she foresaw the company's established product roadmap to remain broadly unchanged. Going forward, she will keep tab on whether the pace of product development slows, potentially giving competitors more room to seize market share.
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10:18
Trump: Jensen Huang Will Make Comeback; He Should Resign if Espionage Involved

US President Donald Trump said former NVIDIA (NVDA.US) CEO Jensen Huang had called him and expressed remorse over the harm the scandal had caused to his family, adding that Huang was most concerned about his wife and family members.

In an interview, Trump praised Huang, saying that his achievements are incredible, and NVIDIA is simply unbelievable, adding that he believed Huang would overcome the difficulties and that he will definitely make a comeback in the end.

When asked whether Huang should resign, Trump said the key issue was whether the woman (Alice Huang) was a spy, and it was currently unclear whether her identity had been confirmed. However, if she were a spy, then Huang should resign; if she were not a spy, the situation might be different.
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10:05
White House Reportedly Weighs Whether to Replace Commerce Secretary Over NVIDIA Export Controversy

Senior White House officials are discussing whether Commerce Secretary Howard Lutnick should be replaced over a spying scandal involving former NVIDIA (NVDA.US) CEO Jensen Huang, as a growing number of lawmakers criticize Lutnick for refusing to place dozens of Chinese companies on the US critical trade blacklist and question whether the government has properly supervised NVIDIA’s exports to China, Reuters, citing sources, reported.

However, a White House official said US President Donald Trump still has full confidence in Lutnick and his ability to perform his duties.

The US government had previously suspended plans to place DeepSeek, CXMT (688825.SH), and more than 100 other companies identified as national security risks on the trade blacklist.

Multiple Democratic lawmakers wrote to Lutnick, Secretary of State Marco Rubio, and White House Chief of Staff Stephen Miller, requesting that the government preserve all documents related to NVIDIA’s exports of advanced AI chips to China and the associated national security risks.
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08:38
SpaceX-Tesla Merger Talks Reportedly Making Progress; Earliest Announcement May Come Next Mth

Merger talks between SpaceX (SPCX.US) and Tesla (TSLA.US) are making progress and could be announced as early as December, Bloomberg, citing sources, reported . The boards and advisers of both companies are finalizing merger terms and governance arrangements for the combined entity.

However, sources said the two companies still need to overcome multiple hurdles before completing the transaction, including how to ring-fence Tesla operations in China.

The merger would become a major test of the political climate after the US midterm elections, with Democrats, who regained control of Congress, pledging to investigate Elon Musk's business and political activities.
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08:30
Trump: Tim Cook Should Become CEO of NVIDIA

US President Donald Trump said former Apple Inc. (AAPL.US) CEO Tim Cook should replace Jensen Huang as CEO of NVIDIA (NVDA.US). Cook had stepped down as Apple CEO in September this year after serving in the role for 15 years and is currently executive chairman of Apple.

Trump said Huang had done an excellent job and now that he has resigned, only Cook could take over his position, adding that one legendary figure has replaced another legendary figure.
~

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2026-11-12
22:08
Baidu Unveils Latest ERNIE Models Amid Broader Full-Stack AI Lineup, and Debuts Token Exchange to Power Intelligent Organizations

  • Robin Li, Co-founder and CEO of Baidu, outlined his vision for the next chapter of AI, centered on the intelligent organization, and introduced three principles of organizational evolution.
  • Baidu also introduced ERNIE 5.5 Flash Preview, the latest open-weight foundation model designed for efficient inference, and two application models ERNIE Wizshot Micro-Expression and ERNIE Light Deep Thinking.
  • Baidu launched Token Exchange, a neutral, transparent, and trusted marketplace connecting model service providers to customers.
  • Baidu also upgraded its agent lineup, including digital human agent Baidu Yijing, the general-purpose agent DuMate, document and creative workspace KOOKO, and self-evolving agent Famou 3.0.

BEIJING, Nov. 12, 2026 /PRNewswire/ -- Baidu, Inc. (NASDAQ: BIDU and HKEX: 9888), a leading AI company with strong internet foundation, today unveiled new offerings and upgrades across its full-stack AI portfolio spanning chips, cloud, models, and agents, designed to help enterprises transform into intelligent organizations. The new lineup includes Token Exchange, a trusted marketplace for model services; upgrades to its agents DuMate, KOOKO, Baidu Yijing, and Famou; ERNIE 5.5 Flash Preview, its latest foundation model, which balances intelligence with inference efficiency; as well as the new Tianchi 1024-card Supernode and Kunlunxin roadmap.

Robin Li, Co-founder and CEO of Baidu, speaks at Baidu World 2026
Robin Li, Co-founder and CEO of Baidu, speaks at Baidu World 2026

In his opening keynote, Robin Li, Co-founder and CEO of Baidu, described the intelligent organization as the next chapter of AI. Li explained why turning that technological progress into productivity gains means moving beyond traditional hierarchies. Just as AI needs energy to run, making full use of its capabilities requires an AI-native approach to how organizations operate. "If AI is the new electricity, then the intelligent organization is the new factory of the AI era, where productivity truly happens," Li said.

Li also laid out three principles for how organizations should evolve. The first is to break down job boundaries. With AI now enabling one person to act in multiple roles, Li said organizations will be built around tasks rather than jobs and become a network of tasks. "Jobs won't disappear, but they will converge into roughly two types: Builders, who create new things, and Sellers, who connect with people to forge emotional bonds and earn their trust," Li said. The second is to capture tacit knowledge and turn it into a shared company asset. "This is a capability that competitors can't copy, hire away, or buy. That's what a real moat looks like." The third is to design closed-loop processes. Li put forward a formula: measurability plus looping equals continuous evolution, so that "the organization becomes a system that never stops learning and evolving."

Robin Li, Co-founder and CEO of Baidu, explained the three principles for organizational evolution
Robin Li, Co-founder and CEO of Baidu, explained the three principles for organizational evolution

Early results at Baidu have already validated the three principles. Over the past year, the average number of daily active agents (DAA) inside Baidu rose from 5,000 to 37,000, an increase of more than 600%. Agents now complete more than 1 million tasks a week, up from 84,000. Baidu has also built 4,300 workspaces and captured more than 20,000 organizational skills. According to Li, by turning practical experience into reusable skills, organizations can build shared capabilities that benefit the entire workforce.

Foundation and Application Models Advance in Parallel: ERNIE 5.5 Flash Preview, ERNIE Wizshot Micro-Expression and ERNIE Light Deep Thinking

Baidu also released its latest-gen foundation model ERNIE 5.5 Flash Preview. With 280 billion total parameters and 14 billion parameters activated per token, the model supports a 1M context window and performs strongly in coding, 3D modeling, knowledge work, and content creation.

ERNIE 5.5 Flash Preview balances intelligence with inference efficiency. Across multiple benchmarks, including Terminal-Bench and AutomationBench, it achieved competitive scores while maintaining extremely fast decoding speed. The model API is now available on Baidu AI Cloud's Qianfan platform, and the model weights will be open-sourced by November 25. API pricing is RMB 1 per million input tokens and RMB 4 per million output tokens, with cached input at just RMB 0.04 per million tokens. The model is also available for free on OpenRouter. ERNIE 5.5 Flash Preview is optimized with ERNIE Evolve, Baidu's proprietary recursive self-improvement (RSI) technology, to boost inference efficiency and reduce cost.

Baidu also introduced two application models, the ERNIE Wizshot Micro-Expression model and the ERNIE Light Deep Thinking model, available via API on Baidu AI Cloud's Qianfan platform. The ERNIE Wizshot Micro-Expression specializes in highly expressive video creation. It processes text, images, and speech together and can support long-form text input of up to 4,000 Chinese characters. It leads the industry for podcasts and short animated dramas at half the typical cost. Originally developed for multimedia search, the ERNIE Light Deep Thinking is designed to handle complex requests and tool calls at search-scale speed. It pairs a fast-thinking model that serves users with a slow-thinking model that continuously refines it in a closed loop. It also incorporates Baidu Sparse Attention (BSA), a proprietary technology that compresses historical memory during decoding to reduce inference costs without compromising model performance.

Token Exchange: A Trusted Marketplace for Model Services

Looking at the broader market, demand for model services is growing fast. To make high-quality model services easier to find and use, Baidu launched Token Exchange, a neutral, transparent, and trusted marketplace that connects AI model providers with customers. Customers can compare model services side by side, with clear pricing and performance data, and access them in one place. Quality providers, in turn, gain a channel to access more customers. Li described it as an exchange for foundation models, where businesses and individuals can easily find, buy, and use trusted model tokens.

Token Exchange rests on two pillars of trust: verification and credit rating. To verify each resource, it compares model fingerprints and tests capability, performance, and availability. To rate each provider, it runs regular spot checks and monitors calls end to end in real time. One month in, Token Exchange has onboarded more than 100 model resources and now handles a daily average of more than 50 million calls and over 700 billion tokens. 

Over time, Token Exchange is expected to help put underused compute to work and make the AI and foundation model ecosystem healthier and more efficient.

Baidu Yijing, DuMate, KOOKO, and Famou: Agent Upgrades Put the Intelligent Organization to Work

At the event, Baidu Yijing, the hyper-realistic digital human agent, introduced short animated drama creation covering concept, script, storyboard, and final cut, turning a single idea into a finished production in one stop. With one-click localization, creators can then take their dramas to global audiences. Built on Baidu's proprietary video generation model, production costs are just RMB 0.2 per second of video.

Baidu's general-purpose agent DuMate has been upgraded to serve as the unified gateway to Baidu's full range of specialized agents, and Baidu has fully opened its Harness engine and Agent API. Over the past quarter, DuMate became the fastest-growing general-purpose agent. The DuMate team also put the three principles of organizational evolution into practice: it has iterated more than 160 times in six months, with 90% of its code and 50% of its external communication materials generated by DuMate.

KOOKO, the global AI-powered platform for documents and creative workflows, brings together publicly available information, professional databases, and users' own content to help research, write, and create high-quality artifacts such as research reports, slide decks, and websites. Upgraded from GenFlow 3.0, KOOKO draws on 1.8 billion professional resources from Baidu Wenku and Baidu Drive, 750 million Chinese and English academic papers, and a network of millions of experts.

Baidu Famou, a self-evolving agent designed to address complex operational challenges across industries, has been upgraded to version 3.0. Combining an agent platform with forward-deployed engineer (FDE) services, it takes direct responsibility for continuously optimizing final business results in real production systems. Its customers now span 25 of China's 41 industrial categories.

Cloud and Chips Strengthen the Foundation as Apollo Go Expands Globally

At the event, Baidu AI Cloud launched the Tianchi 1024-card Supernode, an all-optical interconnect supernode built for high-speed data transmission. Kunlunxin, Baidu's AI chip business, also announced a major roadmap update: the Kunlunxin M100 inference chip has shipped as planned and delivers exceptional cost-effectiveness, while the flagship M300 is expected to ship in 2027 with a major leap in computing power, memory, and interconnection. "We believe inference will be the primary driver of sustained long-term growth in the AI chip market," Li said.

"Embodied AI is now at a stage comparable to where autonomous driving stood in 2016," Li said. Apollo Go, Baidu's autonomous ride-hailing service, now covers 28 cities worldwide and has logged more than 350 million autonomous kilometers, including over 240 million in fully driverless mode. It has launched fully driverless commercial operations in Abu Dhabi and Dubai, and partnered with CAR Inc. in Hainan to pioneer the world's only driverless car rental model.

Li said intelligent organizations will open three major opportunities: asset-light operations, new competitive moats, and the creation and discovery of new markets. "So now is the moment to drive the intelligent evolution of organizations," he said.

"Baidu is ready to work with everyone to rethink, redesign, and recreate the organization," Li said. "Let us take the initiative in organizational transformation and win the future through intelligent evolution."

About Baidu

Founded in 2000, Baidu's mission is to make the complicated world simpler through technology. Baidu is a leading AI company with strong internet foundation, trading on the NASDAQ under "BIDU" and HKEX under "9888." One Baidu ADS represents eight Class A ordinary shares.

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18:01
The Countdown Is On! TME live Teams Up with BIGBANG to Bring the COSMOS Universe to Life Across Hong Kong

HONG KONG, Nov. 12, 2026 /PRNewswire/ -- Presented by TME live and ELF ASIA, with FWD Insurance, Visa, Trip.com Group, Klook and Samsung as joint sponsors, BIGBANG 2026-2027 WORLD TOUR < XX : COSMOS > IN HONG KONG will take the stage at Kai Tak Stadium, Hong Kong, China, on November 13, 14, 15 and 17. Tickets sold out almost immediately after going on sale, with the exclusive priority pre-sale for SVIP users on TME's QQ Music, JOOX and Kugou Music.

BIGBANG 2026-2027 WORLD TOUR < XX : COSMOS > IN HONG KONG
BIGBANG 2026-2027 WORLD TOUR < XX : COSMOS > IN HONG KONG

In response to the overwhelming enthusiasm of fans at home and abroad, TME, together with YG Entertainment and partners, is extending the "COSMOS" universe from the stage across all of Hong Kong, with a series of immersive fan experiences running throughout the concert period.

Starting from November 9, the Hong Kong stop, the final stop of the BIGBANG 20th Anniversary Memorial Space, will open at The Peak Galleria, together with a Hong Kong-exclusive crown art installation overlooking Victoria Harbour and big screens at landmarks across the city. All photo spots are free to visit. Fans who check in can collect a BIGBANG 20th Anniversary commemorative postcard and a bonus Hong Kong-exclusive fridge magnet, and even have a chance to win official concert merchandise in a lucky draw!

On November 12 and November 14, two specially commissioned drone light shows will illuminate the night sky over Victoria Harbour, echoing the sea of crowns at the concert, while interactive installations around the venue invite fans to explore and capture memories.

To keep the experience going, the "COSMOS BIGBANG 20TH ANNIVERSARY MEDIA EXHIBITION IN HONG KONG" will open on November 18 and run until December 27. As the exhibition's first overseas stop following its run in Korea, the exhibition brings BIGBANG's 20-year musical journey to Hong Kong through immersive media art, VR, holographic projections, and interactive experiences, along with official exhibition merchandise. Step into BIGBANG's musical universe and celebrate the 20th anniversary in person!

BIGBANG 2026-2027 WORLD TOUR < XX : COSMOS > IN HONG KONG
BIGBANG 2026-2027 WORLD TOUR < XX : COSMOS > IN HONG KONG

BIGBANG 2026-2027 WORLD TOUR < XX : COSMOS > IN HONG KONG
BIGBANG 2026-2027 WORLD TOUR < XX : COSMOS > IN HONG KONG

BIGBANG 2026-2027 WORLD TOUR < XX : COSMOS > IN HONG KONG
BIGBANG 2026-2027 WORLD TOUR < XX : COSMOS > IN HONG KONG

BIGBANG 2026-2027 WORLD TOUR < XX : COSMOS > IN HONG KONG
BIGBANG 2026-2027 WORLD TOUR < XX : COSMOS > IN HONG KONG

BIGBANG 2026-2027 WORLD TOUR < XX : COSMOS > IN HONG KONG
BIGBANG 2026-2027 WORLD TOUR < XX : COSMOS > IN HONG KONG

BIGBANG 2026-2027 WORLD TOUR < XX : COSMOS > IN HONG KONG
BIGBANG 2026-2027 WORLD TOUR < XX : COSMOS > IN HONG KONG

BIGBANG 2026-2027 WORLD TOUR < XX : COSMOS > IN HONG KONG
BIGBANG 2026-2027 WORLD TOUR < XX : COSMOS > IN HONG KONG

Twenty years in the making, this musical promise welcomes V.I.P from around the world with an unprecedented, multi-dimensional immersive experience.

ABOUT BIGBANG

BIGBANG is a boy group launched by YG Entertainment in 2006. Since the release of their debut single [Bigbang], the group has grown into a top-tier global act, producing numerous hit songs such as 'Lie', 'Last Farewell', 'Haru Haru', 'FANTASTIC BABY' and 'BANG BANG BANG'.

Dominating domestic and international music charts while sweeping grand prizes at major award ceremonies, BIGBANG has earned recognition for the limitless capabilities of both the group and its individual members as musicians. In 2022, they released the digital single 'Still Life', reaffirming their commanding presence across the global music market.

Reuniting to mark their 20th debut anniversary, the group announced their legendary comeback on the stage of the 2026 Coachella Valley Music and Arts Festival in the United States. Drawing an explosive response from the crowd, BIGBANG proved that they still have what it takes. In August, they successfully kicked off their new world tour in Goyang and are set to meet fans worldwide. On August 19, their 20th debut anniversary, BIGBANG released their new digital single [BiiiG], their first new song in four years, receiving passionate love from all over the world.

ABOUT TME live

TME live is a diversified business brand centered on live performances, created by Tencent Music Entertainment Group, a leading music entertainment service provider in China. TME live creates an all-around music entertainment performance experience by combining online and offline performances, utilizing an innovative performance model and extremely fast, ultra-high-definition digital audio-visual technology.

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17:46
Nasdaq Futures Lose ~0.9%; NVIDIA Dives ~7% Premarket; Alibaba Sags ~5% Premarket; DAX Hits Record High in Early European Trade

Futures for the three major US stock indices diverged. DJIA futures edged up 11 pts, or 0.02%, to 52,589. S&P 500 futures and Nasdaq futures dropped 0.4% and nearly 0.9%, respectively. NVIDIA (NVDA.US) lost 6.7% in premarket trading after reports spread that CEO Jensen Huang was involved in a second extramarital affair, with the board planning to remove him from his position. CoreWeave (CRWV.US), a neocloud service provider in which NVIDIA is the second-largest shareholder, tumbled 5.7% premarket. SK hynix (SKHY.US) slid 3.3% premarket, Micron (MU.US) dived 2.9%, yet Advanced Micro Devices (AMD.US) soared 4.2%. Reports that the US may restrict Chinese companies' remote access to AI chips weighed on Alibaba (BABA.US), which slipped 4.8% premarket.

Major European stock markets traded higher in early Thursday trading. The pan-European STOXX 600 rose 0.4% to 665.58, reaching an intraday record high of 665.99. The UK's preliminary 3Q GDP grew 0.7% QoQ, in line. The UK's FTSE 100 added 27 pts, or nearly 0.3%, to 10,863. France's CAC gained nearly 0.8%. Germany's DAX surged 274 pts, or 1%, to 26,937, hitting an intraday record high of 26,998. Italy's FTSE MIB climbed 0.1%, while Spain's IBEX 35 edged down 0.1%.
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Website: www.aastocks.com

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17:26
騰訊音樂攜手TVB升級戰略合作:讓經典常青,港樂聲生不息

香港2026年11月12日 /美通社/ -- 11月9日,騰訊音樂娛樂集團(TME)與無綫電視有限公司(TVB)戰略合作發佈會在香港TVB舉行。騰訊音樂娛樂集團高級副總裁、內容合作部總裁潘才俊,騰訊音樂娛樂集團內容合作部副總裁、演出合作中心副總裁、製作家工作室副總裁曾志中,騰訊音樂娛樂集團內容合作部高級總監郭修非,無綫電視有限公司行政主席許濤,無綫電視有限公司總經理(商務營運)蕭世和,無綫電視有限公司總監(非戲劇)賴華民等雙方代表及馬國明、陳展鵬、《聲秀聲夢》《中年好聲音》《魔音女團》的選手等近50位TVB藝人出席。未來,TME與TVB的合作將從版權內容合作,邁向「以TME生態賦能,煥發TVB經典IP多元價值」的新階段,TME也將成為TVB在數字音樂領域的首選合作夥伴,繼續為億萬港樂樂迷提供更具情感鏈接的視聽與消費體驗。

曾志中 騰訊音樂娛樂集團內容合作部副總裁
曾志中 騰訊音樂娛樂集團內容合作部副總裁

騰訊音樂娛樂集團內容合作部副總裁、演出合作中心副總裁、製作家工作室副總裁曾志中表示:「TVB擁有深厚的製作底蘊、藝人資源與國民級IP,TME則擁有完整的音娛生態與全場景營銷能力。我們將通過共建全新粵語打歌欄目、經典IP演唱會、實體周邊等,打破地域與圈層界限,共同推廣珍貴的港樂文化資產,讓廣東歌唱響更廣闊的舞台。」

無綫電視有限公司總經理(商務營運)蕭世和表示:「當前國家正大力推動共建『人文灣區』,粵語歌正是這份文化身份與印記中最有力的聲音。透過TVB的內容製作力量與TME龐大的平台數據網絡,我們將為香港及大灣區的優秀音樂人提供更廣闊的舞台,以音樂為紐帶,為『人文灣區』的建設累積更穩固的文化動能。」

騰訊音樂攜手TVB升級戰略合作
騰訊音樂攜手TVB升級戰略合作

圍繞此次合作升級,雙方將聯手推出全新粵語打歌欄目《大灣區勁歌金榜》——TME將發揮覆蓋多平台的音樂數據能力與成熟宣發渠道優勢,TVB則依托深厚的電視製作與藝人資源積累,全面聚焦新一代粵語音樂作品的扶持與推廣。與此同時,雙方還將基於TVB眾多經典IP聯合開發實體周邊,持續煥發經典IP的時代生命力。此外,TME也將依托票務及藝人統籌能力,為「TVB經典IP線下演唱會」提供全方位支持,在TVB即將迎來成立60週年之際,助力TVB經典IP進一步落地到線下演出和消費場景,讓內容價值在真實體驗中自然生長。

展望未來,騰訊音樂娛樂集團將以音樂為橋、以生態為紐帶,與TVB持續深化戰略協同,不斷豐富港樂內容供給與全場景體驗,讓經典常青,好歌湧現,灣區文化萬千星輝。

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16:17
CN FM: US Should Stop Fabricating So-called Spy Narrative as Excuse for Tech Blockade

Chinese Foreign Ministry spokesperson Mao Ning said regarding issues related to NVIDIA (NVDA.US) that China has already clarified its position on the so-called "Chinese spy" narrative. China's technological progress relies on independent innovation and open cooperation, and the US should stop fabricating so-called spy narratives as excuses for implementing technology blockades.

China and the US have maintained close communication regarding interactions between the two heads of state, he said. China is willing to work with the US to implement the important consensus forged by the two leaders and promote the building of a constructive and strategically stable China-US relationship based on respect, fairness and equality.

Besides, China has maintained communication with relevant parties regarding the meeting among heads of state of China, Russia and the US.
~

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