Huawei Cloud has discontinued sales of its in-house PanGu 2.0 model services, and is recommending users switch to DeepSeek and GLM*

Large funds are flowing into #Binance, with 24-hour net inflows reaching $1.822B.

According to Bitget market data, spot gold has fallen below the $3,900 per ounce mark, currently trading at $3,899.78, with a 1.18% intraday decline.

Serenity posted that AI-related stocks have plummeted. POET Technologies currently has a market capitalization of roughly $829.7 million, with net cash holdings of about $788 million. Its market value is nearly on par with its net cash and falls below its book value of $847.5 million. He pointed out that several months ago, institutional investors injected $400 million into POET at a share price of $21, alongside warrants with an exercise price of $26.25. The stock has since retreated to around $4.8 per share. To return to its earlier financing price, POET’s share price would need to surge approximately 337.5%. Market pessimism toward growth companies has hit extreme levels, with some firms’ valuations even approaching their liquidation values.

Dongcha Beating AI News Flash: A man in Shanghai used AI to write scripts to register nearly 300,000 free accounts in bulk, harvesting new-user points offered by an AI platform. He then located the platform’s unpublicized API interface, connected the AI drawing and video generation services accessible to these accounts to a self-built relay node, and resold the services to others at low prices. Clients paid him, but actually utilized the original platform’s paid computing power. After detecting anomalies, the platform implemented protective measures including IP registration limits and electronic signature verification. However, the man continued to use AI-generated scripts to bypass these restrictions, even forging interface signatures automatically. By the time of his arrest in March this year, he had illegally called the API over 290,000 times, earning more than 34,000 yuan from reselling AI generation services. The defendant argued that the interface was visible in the browser and unencrypted, so he believed it could be used freely. But the procuratorial organ noted that the platform never publicly opened its paid API, and the man had previously been banned in bulk for violations—meaning he was aware of the unauthorized nature of his actions yet persisted in bypassing protections. Ultimately, the Xuhui District People’s Court of Shanghai sentenced him to three years in prison, suspended for three years, and a fine of 40,000 yuan for the crime of illegally obtaining data from a computer information system.

Beating AI Express News, Exclusive from Intelligence Emergence: ByteDance’s video generation model Seedance now derives 50% of its revenue from overseas markets, with overseas revenue surging nearly fivefold in the past six months. In February this year, Seedance 2.0 received a cease-and-desist letter from the Motion Picture Association (MPA) for generating content featuring Hollywood copyrighted characters. On August 17, the two parties signed a global intellectual property protection memorandum, after which the MPA publicly acknowledged Seedance’s new model’s progress in copyright protection. Disney also struck a content partnership with TikTok, allowing eligible creators to use specified film and television assets to produce short videos. Domestically, Seedance has also secured many leading Chinese internet clients: based on token consumption and revenue contribution, Tencent ranks among Seedance’s top three clients in China, while Bilibili is in the top ten. Notably, Tencent, which operates its own Hunyuan video model, remains a major client of ByteDance’s video model business. Seedance is also expanding into the physical industry, with clients in manufacturing, automotive, education, healthcare and other sectors accounting for over a quarter of its total client base. With Seedance 2.5 strengthening multimodal reference and editing consistency, ByteDance aims to further apply its video generation capabilities to use cases including embodied intelligence, manufacturing simulation and industrial training.

According to a Financial Times report, China’s Securities Regulatory Commission (CSRC) recently held meetings with investment banks and issued verbal guidance to banks and investment banks, requiring a suspension of corporate initial public offerings (IPOs). Large-scale share reductions by existing shareholders have also been temporarily halted until market stability is restored. Previously, Chinese regulators had already rolled out measures including restricting share reductions and encouraging stock buybacks. On Monday, the CSRC, the People’s Bank of China (PBC), and the State Administration of Financial Supervision also held meetings with securities firms and fund management companies to discuss stock market stabilization measures, such as cutting the re-lending rate for stock buybacks and share additions from 1.25% to 1% and expanding swap facility operations. The report noted that China’s IPO fundraising volume this year has exceeded 292 billion yuan, the highest level since 2023. A suspension of IPOs and large-scale share reductions could impact financing activities in China’s equity market. It should be noted that the relevant measures are currently based mainly on informal window guidance disclosed by insiders, and regulators have not yet officially confirmed them publicly.