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0Hi~~ Good evening, everyone! Today is Monday, November 2, 2026, and welcome to Goodnight Coffee. I’m your host, An’an. Today we’re going to chat about the latest and hottest business and tech stories—relaxed, fun, and you’ll pick up a thing or two. So come along with me!
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According to Readhub, with AI investment running high, tech giants are taking diverging paths to raise capital. Meta launched a new round of equity financing on October 26, increasing the size from $35 billion to $37.5 billion. It also plans a share sale program of up to $60 billion, bringing the total to as much as $97.5 billion, to invest in AI infrastructure and personal superintelligence. At the same time, Meta issued non-voting Class C shares, paused shareholder buybacks, and raised the lower end of its full-year capital expenditure forecast. Its third-quarter report showed quarterly revenue of $64.601 billion, up 26% year on year. On October 22, Meta’s stock fell about 7%, with investors worried about the timeline for AI returns and dilution from additional Class C shares. Oracle announced on October 28 that it is adding up to $20 billion in capital markets financing for this investment cycle through fiscal 2030, calling it the “last tranche of funding” to complete the remainder. It plans to turn free cash flow positive in the second half of fiscal 2028 and to rely on customer prepayments and supplier financing to share upfront investment. Oracle’s stock closed up 10.73% that day, then fell 3.45% and 6.37% over the following two trading days. Amazon is maintaining its full-year cash capital expenditure plan of about $220 billion, while Alphabet is maintaining $195 billion to $205 billion and expects a clear increase in investment in 2027.
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Sina Tech reports that, according to a statement from the Abu Dhabi Media Office, OpenAI CEO Sam Altman met with Crown Prince Khaled in Abu Dhabi on Monday and witnessed the signing of four agreements between relevant institutions and OpenAI, covering government, energy, and investment. In energy, Abu Dhabi National Oil Company signed with Inception42 and OpenAI, becoming the first energy company to deploy OpenAI’s frontier technology. ADNOC said OpenAI agents will predict crude oil supply and demand, prices, and margins, and anticipate impacts in advance. In investment, Mubadala and Inception42 will work with OpenAI to apply advanced AI to investment analysis, opportunity identification, and risk assessment. In government, the two sides launched the world’s first AI-native “machine-readable government” initiative, with the first pilot, focused on food imports, now in production with the Abu Dhabi Agriculture and Food Safety Authority. Inception42 also signed a five-year agreement with OpenAI to promote the application of frontier AI in government, enterprise, and education. OpenAI is seeking billions of dollars in financing from UAE state-backed investors. Earlier reports said it was in talks with several UAE funds, including MGX, and hopes MGX will lead a $30 billion funding round.
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According to Huxiu 24 Hours, Samsung plans to shut down all production lines of its 8-inch wafer foundry business by the end of 2030.
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cnBeta, citing Reuters, reports that Binance, the world’s largest cryptocurrency exchange, resumed withdrawals on Sunday after a hack. Binance customers then withdrew $3.64 billion, or 2.1% of its assets. Binance said that after the initial withdrawal peak, customer withdrawal volume stabilized, while deposits remained at “substantial levels.” It also said it has recovered 95% of the $6.3 billion in stolen assets. Binance said the net outflow figure reflects customer withdrawals and deposits as of 15:30 GMT. Crypto data analytics platform DefiLlama showed a higher outflow of $4.36 billion. A Binance spokesperson responded that this figure does not include funds already deposited into the company’s new hot wallets, so it is inaccurate; the latest update on X is closest to the actual situation, but deposit and withdrawal changes after that data was published have not yet been included. Binance also said withdrawals will resume in phases, prioritizing user needs. The first phase covers 15 tokens, including Bitcoin, Ether, some USDC- and USDT-related stablecoin tokens, and Dogecoin.
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According to Huxiu 24 Hours, Apple has responded to claims that “the Chinese version of iPhone Duo cuts corners.”
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Sina Tech reports that Meituan released its large model LongCat-2.5 on November 2. The model is designed for long-horizon agent tasks and is a native multimodal model with 1.6 trillion total parameters; its entire training was completed on domestic compute. LongCat-2.0, released in June this year, was the first to complete training and inference of a trillion-parameter model using domestic compute. LongCat-2.5 converts visual input into uniformly processed tokens and supports tasks such as interactive web pages and 3D display pages. Its agentic coding uses large-scale long-horizon reinforcement learning to improve end-to-end engineering capabilities. Its training sequences are up to 1M tokens, with cumulative training volume reaching trillions of tokens. Meituan worked with domestic compute vendors to jointly optimize memory, inter-card communication, and compute and transfer efficiency, and optimized task allocation around supernodes. Meituan said the model focuses on strengthening business analytics and software development capabilities, equipping local-services merchants with an AI helper. In one case, the model identified a growth-quality issue—payment GMV rose 23.2% while channel profit fell 1.7%—and proposed differentiated resource allocation recommendations. Evaluations show its scores fall between Claude-Opus-4.8 and Claude-Opus-5, and it surpasses the latter on some evaluations. Wang Xing previously said that models and AI products will support the core business and improve user and merchant experience and operating efficiency.
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Readhub reports that BYD sold 490,200 new energy vehicles in October, up 10.97% year on year; cumulative sales in the first 10 months reached 3.6217 million units, down 2.16% year on year. In October, battery electric vehicle sales were 305,700 units, up 37.38% year on year; plug-in hybrid electric vehicle sales were 177,400 units, down 17.22% year on year. In the first 10 months, cumulative BEV sales were 1.9357 million units, up 5.86% year on year; cumulative PHEV sales were 1.626 million units, down 11.02% year on year. In addition, BYD exported 170,200 new energy vehicles in October.
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Sina Tech reports that Xinlian Power, a controlled subsidiary of United Nova Technology, recently completed a nearly RMB 2 billion Series C round. The round was led by the China Mobile Chain Leader Fund, with joint investment from Inspur Information, Yuanjing Capital, Sinopec Hydrogen Energy Fund, NAURA Nohua Capital, Jiangfeng Electronics, Changzhou Xingyu, Cathay Capital, Puchao Capital, CCB Equity, CITIC Goldstone, CITIC Securities, Galaxy Yuanhui, and others. After the financing, its shareholders span communications, computing power, power grids, new energy, and automotive sectors, with several AI infrastructure industrial investors joining, marking AI server power supplies as a strategic priority for the next stage. Yuan Feng said the company will consolidate its global leadership in automotive silicon carbide while building AI server power supplies into a new growth curve. Xinlian Power focuses on silicon carbide, gallium nitride, and module packaging. Its products cover 650V to 3300V, with above 6.5kV under development. Its 3300V SiC MOSFET, launched in June this year, targets scenarios such as solid-state transformers and has been sampled and validated with core customers. The comprehensive solution can reduce system-level BOM costs by 20% to 35%, filling a key gap in domestic high-voltage SiC devices for core power-stage applications in solid-state transformers.
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Sina Tech reports that on October 28, Sunwoda announced that its subsidiary Sunwoda Power, in its C++ financing round, had 5.34% of its shares subscribed by a wholly owned Xiaomi subsidiary for RMB 1.7 billion in cash, making Xiaomi the third-largest shareholder of Sunwoda Power. Its second-largest shareholder, Li Auto, had already invested RMB 2.65 billion in September to subscribe for 8.79%. After Xiaomi’s investment, Li Auto’s stake was diluted to 8.32%, and together with affiliates it exceeds 10%. Sunwoda no longer has absolute control over Sunwoda Power, so it will no longer consolidate it, and both Li Auto and Xiaomi will receive several board seats. Reports say Xiaomi and Sunwoda cooperate in consumer electronics, and Sunwoda’s stacked-cell process capacity is one reason automakers are interested in it. In Li Auto’s supplier lineup, Sunwoda accounts for the largest share, CATL has fallen below 30%, and CALB is just getting started. The next day, Sunwoda terminated its H-share listing plan; the plan may be rearranged, or Sunwoda Power may be listed in Hong Kong.
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According to Huxiu 24 Hours, a Unitree robot withdrew from the Mount Tai climbing competition due to overheating and was later carried down the mountain on a stretcher.
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