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0Hi everyone, good evening! Today is Tuesday, October 27, 2026, and welcome to Goodnight Coffee. I’m your host, An’an. Today I’d like to talk with you about the latest business and tech developments—let’s take a light break, recharge, and open up some new ideas together. Ready? Let’s get started!
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According to CNBC, Nvidia said it will invest $3 billion in Meta. Earlier, Meta announced on Monday a plan to raise $95 billion to support its AI infrastructure investments. Meta said it would first raise $35 billion through an underwritten public offering, then raise another $60 billion through an at-the-market offering. The financing announcement also said Nvidia, AMD and Broadcom intend to buy up to $5 billion of shares. When Nvidia announced the $3 billion investment on Tuesday, it said Meta will expand deployment of Vera Rubin and Vera CPUs, and the two sides will deepen cooperation on Muse, the AI agent Meta launched last month. Nvidia CEO Jensen Huang said AI agents represent a new computing paradigm: software can understand goals, reason, use tools and complete work on behalf of users, which will change how people use computers—from operating applications to collaborating with intelligent agents. Meta CEO Mark Zuckerberg said he looks forward to continuing to work with Nvidia to provide the best personal agents and frontier models to billions of people. In premarket trading on Tuesday, shares of both companies were flat. Nvidia has recently continued to increase its stakes in companies driving the AI boom, having invested in OpenAI, Anthropic, Intel and xAI. According to Dealroom data, Nvidia has participated in 121 funding rounds so far this year, compared with only 13 in 2022.
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Readhub, citing CNMO and Wallstreetcn, reports that Anthropic has filed an IPO application with the U.S. Securities and Exchange Commission. It plans to list on the Nasdaq Global Select Market under the ticker ANT, targeting the week of November 16 for its debut. Market rumors put the target valuation at $2 trillion, which could surpass SpaceX’s $1.77 trillion. The prospectus shows first-half revenue of $16.3 billion, compared with $1.1 billion a year earlier; net loss of $80.7 billion, about $72 billion of which came from non-cash accounting charges such as fair value changes on convertible bonds; and first-half compute and infrastructure spending of nearly $9 billion, up from $2.3 billion a year earlier. As of September 30, about 250 customers had contributed at least $10 million in revenue over the past 12 months, and more than 1,900 customers had contributed at least $1 million; 79% of revenue came from outside its top five customers. The company also disclosed compute and leasing commitments totaling about $326.3 billion with Broadcom, SpaceX AI, Nvidia and Nscale, and warned that it may not be profitable in the future and flagged existential risks from advanced AI.
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According to TechWeb, on October 26 local time, Intel announced it had reached a definitive agreement to acquire Israeli quantum computing software startup Classiq, planning to build a full-stack quantum computing platform. The deal is expected to close in the first half of 2027, subject to regulatory approval and other customary closing conditions. Intel did not disclose the deal value; Israeli media reported the amount at about $2.2 billion to $2.3 billion, calling it the largest acquisition in quantum computing to date. Intel said the acquisition will bring Classiq’s quantum algorithms and software platform capabilities into its quantum computing portfolio. Classiq’s technology allows code to be tested and run on different types of quantum hardware; its customers include BMW and AT&T. Founded in 2020 and headquartered in Tel Aviv, the company has raised more than $200 million and has about 130 employees. Intel CEO Lip-Bu Tan said that after the merger, Intel’s quantum computing unit will transform into a full-stack quantum computing business, integrating Classiq’s software platform with Intel’s silicon spin qubit manufacturing and cryogenic control electronics capabilities. After the deal closes, the Classiq platform will continue to be compatible with multiple quantum hardware platforms, including hardware from Intel’s competitors. Intel has worked on quantum computing for more than a decade, focusing on the spin qubit route.
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According to The Verge, in the 2026 U.S. midterm elections, community opposition to rapid data center construction is becoming a major issue in congressional and gubernatorial races. Construction and supporting costs have sparked opposition in many places, and candidates are divided on whether to pause development. Tech money is also pouring in: Leading the Future, backed by venture capitalist Marc Andreessen and OpenAI President Greg Brockman, has spent $45 million in a year; Public First Action, backed by Anthropic, says it has raised $80 million; newly formed Tomorrow Together is running $4 million in ads in battleground House districts, focusing on data centers and AI safety. In Texas, which has the second-most planned projects in the country after Virginia, data centers have become a key issue in multiple races. In the Senate race, Democratic state Representative Talarico emphasizes environmental impact and sharing profits with the public, while Republican Attorney General Paxton advocates keeping Chinese technology out of U.S. data centers; both demand that data centers bear the cost of energy infrastructure and call for canceling some tax exemptions. In July, Talarico unveiled a plan to end state sales tax incentives, expand community say, require new data centers to use closed-loop water systems, establish federal standards to protect the grid and environment, and levy an “AI attributable profits” tax to fund an “AI dividend.”
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According to Readhub, leading domestic memory maker ChangXin Memory Technologies, or CXMT, rejected Apple’s low-price procurement request, did not offer exclusive price discounts to other overseas customers, rejected some overseas orders, and is prioritizing limited capacity for domestic customers. At present, CXMT’s capacity is almost entirely absorbed by domestic orders, with production lines running at full capacity. Rapidly growing demand for high-spec memory chips from leading domestic tech companies provides order support and means the company does not need to rely on low prices to seize the international market. The report says CXMT’s core goal is to prioritize local memory chip demand, advance the autonomy and controllability of China’s memory industry, and fix the bottleneck in memory chips where China has been “choked” overseas. The move is also seen as a landmark signal that the domestic semiconductor supply chain is gradually maturing, meaning China’s memory industry is moving beyond the old path of trading cost-effectiveness for market access and developing at its own autonomous and controllable pace.
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According to cnBeta, citing Bloomberg, Alibaba Group won court support in its lawsuit challenging the U.S. Department of Defense blacklist. A federal judge in San Jose, California, on Monday ordered the Trump administration to stop enforcing a ban that prohibits the Pentagon from doing business with any company engaged in “lobbying activities” for Alibaba. Bloomberg said this effectively forced lobbyists to choose between blacklisted Chinese companies and U.S. defense contractors; after the restriction was introduced, some influential lobbying firms in Washington began cutting ties with Chinese tech giants such as Alibaba and Tencent. However, the judge did not rule on Alibaba’s challenge to being placed on the Pentagon blacklist. Earlier, according to Global Times, Alibaba had sued in the federal court in San Jose, California, seeking removal from the “Chinese military companies list,” saying the company is not a Chinese military enterprise and has not participated in the “military-civil fusion” strategy. The complaint said the Pentagon did not provide sufficient evidence or a reasonable explanation when listing the company, and that Alibaba received no reply after submitting written materials. On June 8, the Pentagon updated the list to include Alibaba, Baidu, BYD and others. Alibaba later said in a statement that the decision was wrong and that it would take feasible legal action.
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According to Sina Tech, XPeng Group recently received approval for Guangzhou’s intelligent connected vehicle application demonstration operation qualification, allowing it to conduct L4 Robotaxi demonstration operations across the entire city of Guangzhou, pushing XPeng Robotaxi from technology validation toward validation of operations and business models. In demonstration operations, whether vehicles can stably complete driving tasks is only one part; whether order response, vehicle dispatch, passenger pickup and drop-off, service processes and exception handling can work together also determines whether the service can run sustainably. XPeng Youyou will combine real travel demand in Guangzhou to continuously refine vehicle operations and service processes, and accumulate experience in vehicle utilization, dispatch efficiency, service costs and fleet management, providing a basis for optimizing products, improving operational efficiency and exploring sustainable business models. The head of XPeng Robotaxi said the team will advance operational capability validation and user experience optimization; in the initial stage of demonstration operations, it will continue to gradually open up experiences through invitation codes and steadily expand the service scope while ensuring safety. Guangzhou is an important base for XPeng Robotaxi R&D and mass production, and the first city where it is exploring commercialization for the global market. During the Paris Motor Show, He Xiaopeng said XPeng Robotaxi is in in-depth talks with several leading European mobility platforms, and relevant cooperation progress is expected to become clearer.
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According to cnBeta, Chinese AI tech stocks fell sharply, with the STAR 50 Index down 40% in less than four months and about $480 billion in market value wiped out. The report says excessive valuations burst under concerns about AI demand and pressure from export restrictions, putting the brakes on a two-year rally; the CSI 300 Index has fallen about 20% from its June high. Traders said there was no obvious trigger for the selloff, but high prices, tax bills and the threat that the U.S. and other countries could ban Chinese equipment from data centers all played a role. Goldman Sachs data shows AI stocks account for 42% of China’s market capitalization and 57% of turnover in mainland A-shares and Hong Kong H-shares. When Unitree Robotics listed, retail investors oversubscribed by 8,000 times; its shares have halved since trading began in August. ChangXin Memory Technologies’ market value has shrunk by more than a quarter over the past month. Zhongji Innolight and Eoptolink are down about 60% from their June and July highs, partly because Washington is pushing to ban their supplies to U.S. data centers. The STAR 50’s price-to-earnings ratio is still about 100 times, down from nearly 250 times. HSBC research shows Asian funds remain overweight China.
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According to Readhub, U.S. media reports say Chinese automakers’ quarterly sales in Europe have surpassed those of Japanese automakers.
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