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2026-11-09
13:01
CLSA: 4 Major AI Concerns Seem Overdone; Planned Data Centers Reach ~200 Gigawatts, Exceeding Chip Supply

The global tech sector's AI industry chain is once again vexed by concerns over politics, data centers, funding and a potential Anthropic listing, CLSA said in a research report. However, the broker said such fears seem overdone, and analyzed the situation through four themes: politics, gigawatt capacity, trillion-dollar funding requirements and IPOs.

Both political parties of the US have concerns over data centers, but most lean toward implementing guardrails rather than a complete halt, providing relative relief, CLSA noted. Data centers under construction in the US amount to about 150 gigawatts, while regions outside the US and China account for another approximately 46 gigawatts, bringing the total to about 200 gigawatts.

While the market worries that there may be nowhere to install chips, the broker instead believed chip supply may be insufficient. From now until 2030, new AI-related demand may reach about 110 gigawatts, and some project delays could help balance overly aggressive data center plans and the production capacity of TSMC (TSM.US).

On funding, the broker estimated that to achieve double-digit returns on capital, cloud computing revenue may need to rise from about USD450 billion in 2026 to around USD3.5 trillion in 2035, equivalent to shifting only about another 175 bps of global GDP. In comparison, peak spending on computerization and telecom terminals in the past reached about 4.5% and a combined 7.2% of global GDP respectively, suggesting that claims that "money will run out" are excessive.

Sentiment has been affected by a potential Anthropic IPO, the broker said, while estimating that Anthropic accounts for about 11% of global tokens (excluding China), vs about 27% for OpenAI. The market appears to be devoting 100% of its attention to concerns over a player with roughly a one-tenth market share. CLSA also listed more than 100 new AI laboratories with combined private valuations exceeding USD650 billion, indicating that the industry's competitive landscape remains unsettled.
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10:20
Wire: TSMC Weighs Producing Special Advanced 3D DRAM Chips at Request of NVIDIA

TSMC (TSM.US) is weighing an expansion of its business scope into advanced memory chip manufacturing, further increasing its market share in the AI hardware supply chain, The Information, citing sources, reported.

At the request of its largest customer NVIDIA (NVDA.US), TSMC recently began formulating plans to produce a special type of advanced memory chip known as 3D DRAM.
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10:19
Elon Musk Opens Door to Major Acquisition by SpaceX

As SpaceX (SPCX.US) seeks to challenge major wireless carriers such as T-Mobile (TMUS.US) and Verizon (VZ.US), Elon Musk said on Friday that he is open to acquiring a leading telecom operator.

Speaking to billionaire investor Ron Baron at asset manager Baron Capital's annual investment conference, Musk said SpaceX could go very far in competing with telecom giants by leveraging the spectrum licenses it has acquired. The licenses grant the company rights to use specific radio frequency bands.

Musk, CEO of SpaceX, said if they can use spectrum more efficiently than traditional telecom companies, they could eventually acquire those traditional telecom companies and improve their spectrum efficiency by 10x.

His remarks are expected to intensify market discussions over the future development of AT&T (T.US), Verizon and T-Mobile. SpaceX has been actively enhancing its capabilities to provide nationwide wireless services integrating terrestrial and satellite connectivity, supporting mobile phone and internet connections.
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09:53
Meta Chief Strategy Officer Dave Wehner to Leave, Join AI Startup Fireworks as CFO

Meta Platforms, Inc. (META.US) Chief Strategy Officer Dave Wehner will leave the company and join AI startup Fireworks as chief financial officer.
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09:36
HSI Opens Up 143 pts; BABA-W Mounts 2%; AI Hardware Stocks Tick Up

US bourse held steady a bit from last Friday's (6th) downfall. The DJIA rattled and continued to slide by 237 pts or 0.46%, while the Nasdaq rose 1.09% and the PHLX Semiconductor Sector Index picked up more than 4%. NVIDIA (NVDA.US) CEO Jensen Huang was reportedly involved in an extramarital affair, and the market is watching whether the news will undermine overall market sentiment. This morning (9th), the HSI opened at 24,625, up 143 pts or 0.59%; the HSCEI opened at 8,325, up 51 pts or 0.62%; and the HSTECH opened at 4,119, up 41 pts or 1.02%.

Major techs ascended broadly. BABA-W (09988.HK) opened 2.19% higher; TENCENT (00700.HK) rose 1.29%; BIDU-W (09888.HK) rallied 2.3%; XIAOMI-W (01810.HK) soared nearly 2%; JD-SW (09618.HK) and MEITUAN-W (03690.HK) opened marginally higher by 0.09% and 0.31%, respectively.

Chip makers rebounded echoing with overseas markets. HUA HONG GRACE (01347.HK) mounted 2.64%, while SMIC (00981.HK) leaped 2.24%. PCB stocks also advanced, with KB LAMINATES (01888.HK) and KINGBOARD HLDG (00148.HK) up more than 1%. Optical communication concept stocks likewise thrived, as ZJ INNOLIGHT (03308.HK) added 1.67% and YOFC (06869.HK) jumped up 2.27%. Among AI large model stocks, Z.AI (02513.HK) hiked 0.94% and MINIMAX-W (00100.HK) went up 2.05%.

Among blue chips, WUXI BIO (02269.HK) swelled 2.9%; CMOC (03993.HK) elevated 2.08%; CATL (03750.HK) added 1.47%; and LENOVO GROUP (00992.HK) escalated 1.01%.
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09:22
UK Trust Exits Tesla Stake, Pares back SpaceX Holdings

Scottish Mortgage Investment Trust, one of the early major investors of Tesla (TSLA.US), has sold its entire stake in the automaker and sharply reduced its holdings in SpaceX (SPCX.US), cashing in profits from two of its most successful long-term investments.

Scottish Mortgage Investment Trust, a London-listed closed-end fund managed by Baillie Gifford, said last Friday (6th) that SpaceX accounted for 11.1% of its total assets, down from 15% on September 30, as of last Wednesday.

The holdings helped drive Scottish Mortgage's NAV return to 31.5% for the six months ended September. The fund also said in its interim results statement that it sold its remaining Tesla stake in April, ending an investment that began in 2013.

Scottish Mortgage first invested in SpaceX in December 2018, when SpaceX was reportedly valued at about USD31 billion, and invested a total of about USD200 million by 2021.

As SpaceX expanded its launch business and Starlink satellite network, the value of the investment surged. By the time of the major IPO in June, SpaceX accounted for about one-quarter of Scottish Mortgage's portfolio by value.

SpaceX and Tesla shares tumbled about 9% and 11% respectively last Thursday, with their combined market value dropping by more than USD420 billion from last Tuesday's close. Investors are concerned that Musk may face new congressional investigations after the US midterm elections, and that his companies could be subject to stricter regulation.
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09:15
Musk Says Tesla to Gradually Halt Cybertruck Production in Texas Next Yr

Tesla (TSLA.US) CEO Elon Musk said last Friday (6th) local time that the company will start halting production of the Cybertruck at its Texas Gigafactory progressively around the middle of next year.

Musk said in a post on X that ending Cybertruck production at the massive factory would free up production capacity for the Cybercab robotaxi. He had previously described the Cybertruck as the future of the pickup truck market.

The Cybertruck is currently produced only at Tesla's Texas factory, alongside the Tesla Model Y and the two-seat Cybercab. Musk has consistently said the Cybercab is a key product for the company's future development.
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09:05
Amazon.com Forms New Home Robotics Team; Job Posting Reveals R&D Direction

Amazon.com, Inc. (AMZN.US) has formed a new home robotics team and is recruiting talent for a "completely new robotics product", according to CNBC's analysis of recruitment information.

The company had previously attempted to enter the consumer robotics market with the launch of the USD1,450 Astro device in 2021, but the product ultimately failed to move beyond the testing phase.
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08:36
Trump: Jensen Huang Is a Good Person and Should Remain CEO of NVIDIA

Jensen Huang, CEO of NVIDIA (NVDA.US), admitted to being unfaithful to his wife, and the company's board will launch an independent investigation into the matter. US President Donald Trump said Huang is a good person and believes he should remain CEO of NVIDIA.

Asked whether he plans to invite Huang to join his Asia trip later this month, Trump said that he didn't know anything and he would bring him along, adding that he hasn't heard that Huang did anything wrong.
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08:00
Innovent Announces Phase 3 CREDIT-5 Study Met Primary Endpoint, SINTBILO® (Tafolecimab Injection) as First-line Monotherapy Treatment for Hyperlipidemia Demonstrated Potent Lipid-lowering Efficacy

  • SINTBILO®  (tafolecimab injection) monotherapy achieved significant reduction of LDL-C level, with > 60% mean LDL-C reduction after 12 weeks of treatment with 150 mg Q2W/450 mg Q4W
  • SINTBILO®  (tafolecimab injection) monotherapy significantly decreased non-HDL-C, vLDL-C, ApoB, and Lp(a) after 12-week treatment, comprehensively improving patients' blood lipids indicators.
  • SINTBILO®  (tafolecimab injection) showed favorable safety profiles, and no new safety signals were identified

PALO ALTO, Calif. and SUZHOU, China, Nov. 9, 2026 /PRNewswire/ -- Innovent Biologics, Inc. ("Innovent") (HKEX: 01801), a world-class biopharmaceutical company that develops, manufactures and commercializes high-quality medicines for the treatment of oncologic, autoimmune, cardiovascular and metabolic, ophthalmologic and other major diseases, announced today that its self-developed recombinant fully human anti-proprotein convertase subtilisin/kexin 9 (PCSK9) monoclonal antibody, SINTBILO® (tafolecimab injection, R&D code: IBI306), has achieved its primary endpoint at week 12 in the multi-center, randomized, double-blind, placebo-controlled monotherapy Phase 3 clinical study (CREDIT-5) in Chinese participants with non-familial hypercholesterolemia and mixed hyperlipidemia. In this study, SINTBILO®  (tafolecimab injection) monotherapy showed significant lipid-lowering efficacy with favorable safety and tolerability.

SINTBILO® is the first domestically developed PCSK9 antibody therapy to be commercialized in China, and has been included in China's National Reimbursement Drug List, effective January 1, 2025. Since its launch, SINTBILO® has benefited more than 1 million patients and has been recommended in multiple authoritative Chinese guidelines and expert consensus statements. The positive Phase 3 CREDIT-5 clinical trial result marks another milestone breakthrough for SINTBILO® in the treatment of hyperlipidemia. Innovent plans to submit a New Indication Application for SINTBILO® to China's National Medical Products Administration (NMPA) in the near future, which is expected to provide a more convenient first-line treatment option for the Chinese population with hyperlipidemia.

CREDIT-5 is a Phase 3 clinical study to evaluate the efficacy and safety of tafolecimab monotherapy in Chinese subjects with non-familial hypercholesterolemia and mixed hyperlipidemia. A total of 198 participants were randomized in a 2:1:2:1 ratio to receive subcutaneous injections of tafolecimab 150 mg Q2W, placebo Q2W, tafolecimab 450 mg Q4W, or placebo Q4W after a 4-week run-in period when any drug or product with lipid-lowering effects were prohibited. The primary endpoint was the percent change in LDL-C from baseline at week 12, and the key secondary endpoints were the proportion of participants with LDL-C <2.6 mmol/L, the proportion of participants with LDL-C <1.8 mmol/L, the proportion of participants with ≥50% reduction in LDL-C from baseline, and the mean change in LDL-C from baseline at week 12.

Among the 198 participants enrolled in this study, 131 received tafolecimab and 67 received placebo. The mean baseline LDL-C levels were 3.7 mmol/L and 3.8 mmol/L, respectively. 61.1% and 53.7% of the participants had mixed dyslipidemia at baseline, respectively, and 67.9% and 79.1% of the participants had low cardiovascular risk at baseline. Tafolecimab has demonstrated clinically significant efficacy and favorable safety in the above populations:

  • Primary Endpoint Achieved: At week 12, the percent reduction in LDL-C from baseline in the tafolecimab group was significantly higher than that in the placebo group (150 mg Q2W: −65.19% vs. −6.61%; 450 mg Q4W: −64.01% vs. −4.31%, p-value < 0.0001). A significant decrease in LDL-C was observed 2 weeks after the first dose in the tafolecimab group, showing rapid and strong LDL-C lowering efficacy.
  • Key secondary endpoints Achieved: At week 12, the proportions of participants with LDL-C < 2.6 mmol/L, < 1.8 mmol/L, and ≥ 50% decrease from baseline in LDL-C, as well as the decrease in LDL-C from baseline in each tafolecimab group were significantly higher than those in the corresponding placebo group, and the p values of inter-group differences were all < 0.0001.
  • Benefits in multi-dimensional secondary endpoints: At week 12, the reductions in non-HDL-C, TC/HDL-C ratio, vLDL-C, ApoB, ApoB/ApoA1 ratio, and Lp(a) from baseline in each tafolecimab group were all higher than those in the corresponding placebo group, with Lp(a) reduced by nearly 50%; tafolecimab monotherapy can comprehensively improve lipid-related risk factors of arteriosclerotic cardiovascular disease (ASCVD) and is expected to reduce the cardiovascular risk of patients.
  • Favorable Safety Profile: During the study, tafolecimab showed favorable safety and tolerability, no severe or serious TEAE occurred; no AE led to discontinuation or interruption of the study drug; and no new safety signal was observed compared with previous studies.

Professor Yida Tang from Peking University Third Hospital, Lead Principal Investigator of the study, stated: "For a long time, statins have been the first-line standard of care for hypercholesterolemia. However, some patients still suffer from poor efficacy of statin monotherapy or combination therapy due to statin intolerance, insufficient long-term medication compliance, etc. Therefore, there is an urgent clinical need for more non-statin monotherapy options with sufficient evidence-based evidence. This Phase 3 clinical study met the primary and secondary endpoints, confirming that for patients with non-familial hypercholesterolemia and mixed hyperlipidemia, tafolecimab monotherapy can bring clinically significant reductions in LDL-C and improve lipid-related risk factors of ASCVD, without the need for combination therapy with statins. This not only further validates the therapeutic value of PCSK9 monoclonal antibody as an independent lipid-lowering regimen, but also provides new clinical evidence for patients and clinicians who need non-statin treatment. It is expected to expand the options for individualized treatment of hyperlipidemia, help more patients achieve effective control of blood lipids, and better meet the challenges of long-term blood lipid management."

Dr. Lei Qian, Chief R&D Officer (General Biomedicine) of Innovent, stated, "As the first innovative drug in Innovent's general biomedicine portfolio to receive regulatory approval and be included in China's NRDL, SINTBILO® has been developed with a strong focus on addressing the unmet medical needs of patients with hyperlipidemia. This Phase 3 clinical study further demonstrated the therapeutic value of SINTBILO ® in achieving significant lipid-lowering as monotherapy, providing robust clinical evidence for treatment of hyperlipidemia. We will continue to work closely with clinical experts to accelerate the translation of research findings into clinical practice, so that more patients can benefit from innovative therapist, contributing to improved long-term management of hyperlipidemia in China."

About Hyperlipidemia

The burden of dyslipidemia in Chinese adults is still heavy. National survey data from 2020 to 2022 showed that the prevalence of dyslipidemia among Chinese adults aged ≥18 years was 38.1%. Elevated low-density lipoprotein cholesterol (LDL-C) is a pathogenic risk factor for atherosclerotic cardiovascular disease (ASCVD), and LDL-C reduction is still the primary goal of blood lipid management and ASCVD prevention and treatment.

The awareness rate, treatment rate, and control rate of dyslipidemia in China are still low; statins are still the basis for lipid-lowering therapy, and patients who do not meet the target can be treated with statin in combination with cholesterol absorption inhibitors or PCSK9 inhibitors according to the risk and treatment response. Monotherapy with a PCSK9 inhibitor is more effective in reducing LDL-C levels than cholesterol absorption inhibitors in statin-naïve or statin-intolerant populations. PCSK9 inhibitors are potent lipid-lowering agents that reduce LDL-receptor degradation and promote LDL-C clearance, some of which have been shown to reduce the risk of cardiovascular events.

About SINTBILO®

SINTBILO® (tafolecimab Injection) is a fully human IgG2 monoclonal antibody independently developed by Innovent Biologics that specifically binds to PCSK9 (proprotein convertase subtilisin/kexin type 9) molecules. It increases LDLR levels by reducing PCSK9-mediated endocytosis of the low-density lipoprotein receptor (LDLR), thereby increasing LDL-C clearance and reducing LDL-C levels.

SINTBILO® has been approved and included in the NRDL in China for the treatment of adult patients with primary hypercholesterolemia (including heterozygous familial and non-familial hypercholesterolemia) and mixed dyslipidemia.

About Innovent

Innovent is a leading biopharmaceutical company founded in 2011 with the mission to empower patients worldwide with affordable, high-quality biopharmaceuticals. The company discovers, develops, manufactures and commercializes innovative medicines that target some of the most intractable diseases. Its pioneering therapies treat cancer, cardiovascular and metabolic, autoimmune and eye diseases. Innovent has launched 20 products in the market. It has 1 asset under NDA review, 6 assets in Phase 3 or pivotal clinical trials, and 20 more molecules in early clinical stage.

Innovent has entered into more than 30 strategic partnerships with global players such as Eli Lilly, Roche, Takeda, Pfizer, Sanofi, Incyte, and MD Anderson Cancer Center, representing an aggregate value of over RMB 350 billion. These efforts have set a benchmark for the highquality outbound internationalization of China's innovative drug industry.

Guided by the motto, "Start with Integrity, Succeed through Action," Innovent maintains the highest standard of industry practices and works collaboratively to advance the biopharmaceutical industry so that first-rate pharmaceutical drugs can become widely accessible.

For more information, visit www.innoventbio.com, or follow Innovent on Facebook and LinkedIn.

Forward-Looking Statements

This news release may contain certain forward-looking statements that are, by their nature, subject to significant risks and uncertainties. The words "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to Innovent, are intended to identify certain of such forward-looking statements. Innovent does not intend to update these forward-looking statements regularly.

These forward-looking statements are based on the existing beliefs, assumptions, expectations, estimates, projections and understandings of the management of Innovent with respect to future events at the time these statements are made. These statements are not a guarantee of future developments and are subject to risks, uncertainties and other factors, some of which are beyond Innovent's control and are difficult to predict. Consequently, actual results may differ materially from information contained in the forward-looking statements as a result of future changes or developments in our business, Innovent's competitive environment and political, economic, legal and social conditions.

Innovent, the Directors and the employees of Innovent assume (a) no obligation to correct or update the forward-looking statements contained in this site; and (b) no liability in the event that any of the forward-looking statements does not materialize or turn out to be incorrect.

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