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AI · Dynamic
ChangXin Memory Technologies: Net profit of RMB 77.605 billion in the first half of the year, turning a profit year-over-year.
According to Bitpush News, ChangXin Technology announced that its revenue for the first half of 2026 reached RMB 150.31 billion, a year-over-year increase of 873.64%; net profit attributable to shareholders of the listed company amounted to RMB 77.605 billion, compared to a net loss of RMB 2.332 billion in the same period of 2025, marking a turnaround from loss to profit.
a16z launches $1.1 billion Machine Age Fund to bet on AI hardware and infrastructure
Beats News: a16z announced that its new fund, the Machine Age Fund, has raised $1.1 billion, with a focus on investing in the hardware and infrastructure that support AI, including chips, memory, networking, storage, and complete systems such as data centers, robotics, and home AI devices.
a16z notes that current AI demand and compute density are surging, pushing existing supply chains, physical, and computational architectures to their limits. Rack power is rising from 5–10 kW to 100–250 kW, and is projected to reach 1 MW within three years, while data center scales are expanding to hundreds of MW and even GW-scale campuses. The fund will invest in higher compute density, cheaper high-bandwidth memory, faster interconnects, low-power edge devices, and supporting cooling, power, and real estate infrastructure to enable the next generation of AI hardware startups.
[Meta tests bots to handle data center work, sparking concerns about layoffs]
Beijing News reports that Meta is testing robots to maintain its AI system data centers, including machines capable of replacing network cables, rebooting servers, and inspecting equipment. According to WIRED, Meta has tested robots from Watney Robotics in San Francisco, Kinova in Quebec, and ABB in Zurich to reduce labor costs. One employee estimated that a successful cable-replacement robot could replace up to 80% of certain jobs, but the current machine still cannot match human speed.
Meta’s robotics initiative has raised concerns, with employees fearing automation could reduce demand for experienced technicians and shift remaining tasks to lower-paid roles operating under AI instructions. A Meta spokesperson stated that the United States is experiencing its largest infrastructure boom since World War II, with a severe shortage of skilled workers, requiring the company to hire more, not fewer, workers. Currently, robots still require human oversight and face challenges with obstacles, battery life, visual inspections, and handling dense cabling.
Nvidia and Alibaba are also developing systems to improve robot training. Wang Xiaogang, Chairman of ACE Robotics, said that embodied AI could reach its “ChatGPT moment” by the end of 2027. Additionally, Microsoft co-founder Bill Gates has proposed taxing robots and AI tokens, suggesting that current tax systems may make machines cheaper than human employees.
Crypto · Market
[Grayscale: Uncontrolled growth of U.S. government debt will benefit Bitcoin through currency depreciation trades.]
BitPush News: Grayscale’s cryptocurrency research team stated in a report that the so-called “debasement trade” is benefiting Bitcoin. Research head Zach Pandl noted in the report that unchecked government debt growth is eroding confidence in fiat currencies, prompting investors to seek alternative stores of value such as physical gold and certain cryptocurrencies, with Bitcoin set to benefit the most.
The report states that U.S. public debt has surpassed $40 trillion, and while the Treasury is conducting bond buybacks to ease rising borrowing costs, the core deficit remains. Grayscale believes this could drive investors toward depreciating assets, including Bitcoin, Ethereum, and Zcash. The report also notes that the buybacks themselves are symptomatic—the massive growth in government debt is pushing up borrowing costs, and the Treasury is merely treating the symptom (rising bond yields) without addressing the root cause: structural deficits.
Kalshi suffers legal setback as U.S. appeals court rules states have authority to regulate prediction markets
Beats News reports that on Friday, the U.S. Ninth Circuit Court of Appeals unanimously ruled that Nevada has the authority to regulate Kalshi’s sports event contracts under gambling laws, rejecting its claim that the CFTC holds exclusive jurisdiction. Previously, the Third Circuit issued an opposing ruling, creating a “circuit split” that increases the likelihood of Supreme Court intervention. The CFTC criticized the judge for “misinterpreting the law,” stating that the nature of derivative contracts does not change based on the underlying asset. Nevada stated the ruling “fully validates” its position, while Kalshi said it will seek further review; the case could impact the regulatory landscape for prediction markets nationwide.
BitGo plans to acquire NYDIG’s trading division for $42.5 million.
Beats News reports that cryptocurrency custodian BitGo has announced the acquisition of NYDIG’s institutional trading business for $42.5 million (including cash, stock, and a $15 million earn-out). The deal includes $7 million in cash and approximately $35.5 million in stock. The acquisition aims to expand BitGo’s capital markets services, including derivatives and structured products, while integrating NYDIG’s Bitcoin trading and financing capabilities. BitGo has granted NYDIG registration rights for the shares issued and will award restricted stock units to transferred employees. Analysts note that this cycle of the crypto market is being driven by institutional capital, and traditional crypto players are accelerating their adaptation to institutional demands.
BitGo went public at $18 in 2026 and is currently trading at around $7.
Macro · Institutions
U.S. job growth was revised down, showing clearer signs of cooling in the labor market.
Beijing News reports that, over the year ending in March, U.S. job growth was more modest than previously reported, highlighting a downward trend in the labor market—a factor contributing to the Fed’s decision to cut rates in 2025 despite persistent inflation. According to preliminary benchmark revision data released by the U.S. Bureau of Labor Statistics on Friday, nonfarm payroll employment may have decreased by 79,000, a 0.1% decline. Final data will be released in early next year.
Increased bets on Fed rate hikes
Beepro news: U.S. short-term interest rate futures declined, with market pricing showing increased expectations of a Fed rate hike following remarks by Fed Chair Walsh. Walsh stated that inflation data have not shown a significant improvement in the trend, and that confidence must be established that underlying inflation is moving toward the target, otherwise we still have work to do.
[Wash: Inflation remains above target, the Fed still has work to do]
Biyu reports that Fed Chair Walsh warned that inflation has not shown meaningful easing, stating that policymakers must be confident that inflation is moving in the right direction, otherwise the central bank “has more work to do.” Walsh reiterated that the Fed will bring inflation back to its 2% target, calling it a clear and fixed goal. He said, “My standard is that we must be confident that underlying inflation is moving toward our target, and the pace must be sufficiently clear and swift. Otherwise, we have more work to do. That is our responsibility.” Walsh also noted that current financial conditions are not restrictive, and interest rates are the Fed’s “primary tool” for fulfilling its mandate.
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