Former ByteDance intern Tian Keyu, who was dismissed for serious disciplinary violations, founded an AI startup focused on World Models, Bloomberg reported. The startup already secured backing from prominent investment institutions including 5Y Capital and IDG Capital, and is preparing to enter the World Models field being explored by AI researchers such as Fei-Fei Li and Yann LeCun.

Although the company remains at an early stage, has yet to determine a name and has not launched any products, it has already completed financing of nearly USD30 million, with a post-money valuation reaching USD200 million.

Investors include 5Y Capital and IDG Capital, both of which previously invested in Moonshot AI. Both institutions confirmed the investment to Bloomberg.

World Models have become a new hot investment theme. Advanced Micro Devices, Inc. (AMD.US) announced last month that it would acquire World Labs, the World Models company founded by Fei-Fei Li, for billions of USD.

In addition, a new AI model named Jev, with costs lower than traditional LLMs, also attracted investor interest, with the potential financing valuation of its developer exceeding USD10 billion.
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Amazon.com, Inc. (AMZN.US) founder Jeff Bezos said private space company Blue Origin may seek an IPO in the coming years after raising USD10 billion from external investors for the first time.

Blue Origin is a major competitor to Elon Musk's SpaceX (SPCX.US). Bezos said he has personally invested USD28 billion in Blue Origin since founding the company in 2000.

The Wall Street Journal had reported in September this year that Blue Origin's latest funding round valued the company at USD140 billion.
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Cui Dongshu, secretary-general of the China Passenger Car Association (CPCA), said global vehicle sales numbered 63.43 million units in 8M26, while global new energy passenger vehicle (NEV-PV) sales reached 15.7 million units, up 15% YoY.

Among them, NEV sales in August numbered 2.23 million units, up 16% YoY, with growth returning to historically normal levels. The penetration rate of NEVs reached 24.5% in 8M26, of which BEVs accounted for 17.3%, and PHEVs accounted for 7.5%. Hybrid vehicles achieved an outstanding 8% share.

In light of factors including high tariffs and price increases following the cancellation of NEV subsidies, US NEV sales in August sank 44% YoY to 110,000 units. US NEV sales in 8M26 totaled 820,000 units, down 31% YoY. Europe's NEV passenger vehicle sales reached 3.86 million units in 2025, representing a YoY hike of 960,000 units, or 33%. Preliminary statistics showed that Europe's NEV-PV sales in August grew 33% YoY to 320,000 units, while sales in 8M26 added 34% YoY to 3.12 million units.
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US President Donald Trump will award medals to multiple technology industry executives at a science summit on Thursday (8th) US time. CNBC confirmed the news.

The White House said Elon Musk, who leads SpaceX (SPCX.US) and Tesla (TSLA.US), will receive the National Medal of Science. Other award recipients include Google co-founder Sergey Brin, NVIDIA Corporation (NVDA.US) CEO Jensen Huang, and Advanced Micro Devices, Inc. (AMD.US) CEO Lisa Su. Dell Technologies Inc. (DELL.US) founder Michael Dell and Microsoft Corporation (MSFT.US) CEO Satya Nadella will receive the National Medal of Technology and Innovation.

The event is named "Science: A New Golden Age Summit". Fox News first reported the news.
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Microsoft Corporation (MSFT.US) said its new laptops equipped with NVIDIA Corporation (NVDA.US) AI chips will start at USD2,599, aiming to bring more AI functions to consumer devices.

Pavan Davuluri, Executive Vice President of Windows and Devices at Microsoft, said at a company event in San Francisco on Wednesday (7th) that the Surface Laptop Ultra is now available for pre-order and will begin shipping on October 16. The computer features a magnetic USB-C connector similar to the MagSafe charging connector of Apple Inc. (AAPL.US).
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Samsung Electronics said robust demand for AI chips is expected to drive 3Q operating profit to surge nearly 8x YoY to KRW107.4 trillion (approximately USD80.17 billion), slightly above market expectations of KRW106.1 trillion. It also marks the first time quarterly operating profit has exceeded KRW100 trillion.

Samsung Electronics shares opened higher but later turned lower this morning (8th), and last dropped 0.9% at KRW266,250.
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Temasek International Chief Investment Officer Rohit Sipahimalani said a reversal in AI investment momentum and inflation-driven increases in bond yields could end the stock market rally and represent the biggest risks facing global markets next year.

He said a reversal in AI investment momentum is the biggest risk. Although he does not believe this will happen immediately, markets could turn volatile next year. Inflation is another risk, and combined with changes in the interest rate environment, this means stock markets could collapse at some point.

As of March 31, Temasek's assets under management reached SGD518 billion. The company also committed this year to more than double its allocation to AI-related investments by 2031, increasing the ratio from 6% to as much as 15%. AI has become a major driver of the company's returns, and it has also invested in OpenAI, Anthropic and NVIDIA Corporation (NVDA.US).
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After opening down 108 points, the HSI once tumbled more than 200 points before closing at 24,130, down 150 points or 0.62%, with turnover totaling only HKD94.7 billion. The HSTECH closed at 4,194, down 28 points or 0.68%. The HSCEI closed at 8,082, down 46 points or 0.57%.

Major techs subsided broadly. BABA-W (09988.HK) slumped 2.59%; BIDU-W (09888.HK), KUAISHOU-W (01024.HK), XIAOMI-W (01810.HK) and TENCENT (00700.HK) dipped more than 1%; MEITUAN-W (03690.HK) shed nearly 1%; while NTES (09999.HK) gained 1.56% against the market trend.

Multiple innovative pharmaceuticals generally retreated this morning. GENSCRIPT BIO (01548.HK), which hit a record high in the previous session, plunged 12.7% for the day; XTALPI (02228.HK) nosedived 12.1%; ZAI LAB (09688.HK) slipped 4.38%; EVEREST MED (01952.HK) and TIGERMED (03347.HK) crumbled more than 3%; WUXI BIO (02269.HK) faded 2.07%; while SBP GROUP (01177.HK), HANSOH PHARMA (03692.HK), INNOVENT BIO (01801.HK) and CSPC PHARMA (01093.HK) all sagged nearly 2%.

The retreat in US Treasury yields from peak levels benefited interest rate-sensitive property stocks. Citi forecast Hong Kong home prices and rents to each rise 6% next year, and expected landlords to outperform developers during the remainder of this year. Preferred picks included SWIREPROPERTIES (01972.HK), WHARF REIC (01997.HK), LINK REIT (00823.HK) and SHK PPT (00016.HK), which lifted 0.84%, 1.47%, 0.16% and 2.2%, respectively. Among other property stocks, NEW WORLD DEV (00017.HK) gained 2%; HENDERSON LAND (00012.HK) rose 1.49%; while CK ASSET (01113.HK) added 0.4%.

AI concept stocks receded. Z.AI (02513.HK) lost 2.73%; MINIMAX-W (00100.HK) crashed 3.61%; and XUNCE (03317.HK) declined 1.64%.
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Advanced Micro Devices, Inc. (AMD.US) CEO Lisa Su, visiting South Korea again after seven months, said AMD is working with clients to optimize memory footprint as supply tightness persists. At the same time, AMD is encouraging memory suppliers to expand production capacity as soon as possible.

In addition, she said AMD is very satisfied with the fourth-generation HBM4, describing its performance as outstanding. Samsung and SK hynix Inc. (SKHY.US) have provided strong support for HBM4, and she believed the partnership related to HBM will extend across multiple generations. The company will also continue exploring cooperation opportunities with Samsung Electronics in the memory and foundry business sectors.

Su added she has met with senior executives of SK hynix and plans to meet senior executives of Samsung Electronics.
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After opening 108 points lower, the HSI once sagged more than 200 points before closing the midday session at 24,151, down 128 points or 0.53%, with market turnover at HKD51.772 billion. The HSCEI closed at 8,075, down 53 points or 0.66%. The HSTECH closed at 4,184, down 38 points or 0.91%.

Major techs led the downfall. BABA-W (09988.HK) slumped 3.05%; BIDU-W (09888.HK) crumbled 2.21%. TENCENT (00700.HK) dived nearly 2%; MEITUAN-W (03690.HK) and XIAOMI-W (01810.HK) lost more than 1%; KUAISHOU-W (01024.HK) fell off 2.12% after reports that its Kling AI unit may be spun off for a Hong Kong listing as early as next year, with fundraising of at least USD1 billion.

Multiple innovative pharmaceuticals broadly pulled back this morning. GENSCRIPT BIO (01548.HK), which hit a record high yesterday, plunged 12.74% by midday; XTALPI (02228.HK) tumbled 11.2%; ZAI LAB (09688.HK) stumbled 5.24%; EVEREST MED (01952.HK) and TIGERMED (03347.HK) lost more than 4%. INNOVENT BIO (01801.HK), WUXI BIO (02269.HK) and CSPC PHARMA (01093.HK) all fell more than 1%.

Among blue chips, WEICHAI POWER (02338.HK) spiked 5.63%, making it the best-performing blue chip at midday, after JPMorgan raised its TP to HKD57 on higher earnings forecasts driven by the AIDC power supercycle. Chip makers deteriorated, with HUA HONG GRACE (01347.HK) and SMIC (00981.HK) both down more than 1%; AIA (01299.HK) up 0.65%; HSBC HOLDINGS (00005.HK) down 0.26%.

AI concept stocks receded, with MINIMAX-W (00100.HK) down 5.22%; Z.AI (02513.HK) down 2.8%; and XUNCE (03317.HK) down 0.76%.
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