OpenAI’s annual revenue is $20 billion lower than previously reported, with the latest figure standing at $50 billion.

Synthetic perpetual protocol Papertrade, built on HyperEVM, officially announced its pre-deposit feature is now live. Users can complete deposits and account creation within the next two days. The official noted that account creation and deposits will be significantly restricted once trading launches; depositing early helps avoid opening congestion, though there are no additional benefits for depositing during the pre-deposit period. Papertrade is a fully on-chain synthetic perpetual trading platform deployed on HyperEVM. It fetches prices from the Best Bid/Offer (BBO) mid-price of Hyperliquid’s order book, allowing users to trade directly against the protocol’s liquidity providers (LPs) instead of relying on traditional order book matching. The protocol’s key features include high leverage, zero slippage, and no funding fees. Its native token PAPER has an initial supply of zero, with no pre-mining, team, or venture capital (VC) allocations. The only source of token minting is user losses or liquidations. During the initial launch phase, the token cannot be freely transferred and is primarily used for staking. Per the official timeline, full trading will begin approximately one hour after the expected HyperEVM network upgrade on October 10. The exact time will be announced via Hyperliquid’s Discord. During the opening phase, trading must be conducted through the official website frontend and whitelist relays; direct contract interactions will be opened once congestion eases. For more related reading, see: "Hyperliquid Is Getting Its Own Layer 2: Key Details You Need to Know".

According to market data from BIT (bit.com), losses in the U.S. stock market storage sector have widened further, with individual stocks recording the following declines: Seagate Technology (STX) fell 3.94%; Western Digital (WDC) dropped 3.05%; SanDisk (SNDK) declined 5.4%; Micron Technology (MU) fell 4.21%; and SK Hynix ADR (SKHY) decreased 5.45%.

According to BIT (bit.com) market data, the Nasdaq’s decline widened to 1%, while the Philadelphia Semiconductor Index fell more than 2%. Intel and Marvell dropped over 4%, AMD and Micron declined more than 3%, and Nvidia fell nearly 2%. Earlier news: OpenAI’s annual revenue is $20 billion lower than previously reported, reaching $50 billion as of the end of September, compared to the widely cited $70 billion figure.

According to the official agenda for the International Monetary Fund (IMF) Annual Meeting in Bangkok, Federal Reserve Chair Walsh has confirmed his attendance at the event and is scheduled to deliver a public speech on October 16 local time. His trip has been formally included in the meeting’s agenda by the IMF Bangkok Annual Meeting Organizing Committee. As the head of a leading global monetary policy-making institution, Walsh’s appearance has drawn significant attention. During the conference, his speech will focus on elaborating on the current macroeconomic situation and monetary policy framework. The IMF has now released the relevant schedule in accordance with established procedures. All speaking arrangements for participating guests have been posted on the official platform, and specific details of the speeches will be subject to on-site disclosures.

Trump stated, "We are holding productive discussions with the Islamic Republic of Iran. I want to make this clear to everyone: Even though Iran is in a very difficult economic and military situation, and sanctions will remain fully effective, oil is flowing through the Strait of Hormuz at record volumes—22 million barrels alone last night, none of which originated from or was bound for Iran! We will not attack Iran at any time before the U.S. midterm elections on November 3. Iran will not possess nuclear weapons!"

Trump has stated that "Superintelligence (SI)" should replace the concept of "Artificial Intelligence (AI)". The White House believes the term "Superintelligence" is more accurate and widely accepted, and anyone who continues to use "Artificial Intelligence" will be regarded as an "enemy".