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<h3>US stock market's three major indices all rise, tech stocks strong</h3>
<p>The major US indices collectively rose and closed at daily highs. The S&amp;P 500 index rose by 0.75%, the Dow rose by 0.58%, and the Nasdaq rose by 1.00%. Both the S&amp;P 500 and Nasdaq recorded their fourth consecutive day of gains.</p>
<p>Investors have been buying small-cap stocks and large-cap tech stocks, with the small-cap index and Nasdaq 100 rising by 1.22% and 0.97% respectively, outperforming the broader market indices. Tech stocks such as Broadcom, Meta, Google, NVIDIA, among others, saw significant increases.</p>
<p>Tech stocks across the board rose, with Apple up by 0.05%, Amazon up by 1.34%, Netflix up by 0.78%, Google up by 2.34%, Microsoft up by 0.94%. Meta rose by 2.69%, and Tesla rose by 0.74%.</p>
<p>NVIDIA rose by 1.92%, TSMC rose by 1.06%, and AMD rose by 0.61%.</p>
<p>Most popular Chinese concept stocks fell, with DouYu down by 13.7%, RDY Medicine down by 4.45%, Miniso down by 4.43%, Beike down by 3.61%, ZEEKR down by 3.43%, Pinduoduo up by 2.15%, TAL Education up by 1.98%. Chinese concept new energy vehicle stocks all fell, with Nio down by 5.54%, XPeng down by 5.69%, Li Auto down by 3.58%.</p>
<h3>Gold price continues to rise to record highs, global focus on Fed's rate cut next week</h3>
<p>Spot gold once again hit a historical high above $2550, as US inflation data higher than expected reinforced expectations of a Fed rate cut next week. Gold has risen by over one-fifth this year, with increasing expectations of the Fed starting a rate cut cycle soon, supporting the recent strength in gold prices.</p>
<h3>Market slightly increases bet on Fed's 50 basis point rate cut next week</h3>
<p>The possibility of a 50 basis point rate cut by the Fed next week, as reflected in the futures contracts, has slightly increased. Earlier, the Wall Street Journal reported that policymakers are considering whether to cut rates by 25 basis points or 50 basis points. As of Wednesday's close, the implied rate cut was 26 basis points. The bet on the rate cut for the year is still around 103 basis points, unchanged during the day.</p>
<h3>Buffett's &#34;right-hand man&#34; aggressively reduces US stock holdings</h3>
<p>Berkshire Hathaway's Vice Chairman of Insurance Operations, Ajit Jain, sold Berkshire Class A shares worth $1.39 billion, reducing his holdings by more than half. This is the largest sell-off since he joined Berkshire Hathaway in 1986. The market widely believes that Berkshire's recent actions seem to be a defensive move, preparing for a larger pullback in the US stock market.</p>
<h3>Adobe's guidance for the current quarter disappoints, stock drops over 10% in after-hours trading</h3>
<p>In the third quarter, Adobe's revenue exceeded expectations, growing by 11% year-on-year and reaching a new record for a single quarter. The key indicator of its main business, ARR, increased by 8.6%; however, the revenue guidance for the fourth quarter, with a potential increase of nearly 10%, slowed down more than expected, and the ARR guidance decreased by 3.3%, more than double what analysts had predicted.</p>
<h3>Amazon raises driver compensation</h3>
<p>According to the Wall Street Journal, Amazon, facing threats of union organization, has raised average driver compensation to nearly $22 per hour and plans to invest around $2 billion in drivers</p>
<h3>AI powerhouse Oracle raises revenue guidance for the next fiscal year, with a nearly 7% increase in after-hours trading</h3>
<p>While raising guidance for the 2026 fiscal year, Oracle expects revenue to reach at least $104 billion in the 2029 fiscal year, with a 20% increase in earnings per share, representing a nearly 58% growth over three years. Oracle announced this week that revenue for the first quarter of the 2025 fiscal year increased by 7%, with the OCI business, which attracted much attention, exceeding expectations with a 45% growth. Following the financial report, Oracle's stock price continued to hit new all-time highs.</p>
<h3>OpenAI unveils AI model &#34;Strawberry&#34; with reasoning capabilities</h3>
<p>The new model named o1 will &#34;take more time to think&#34; before responding to user inquiries, and is expected to solve multi-step problems, including complex mathematical and programming issues. &#34;But for complex reasoning tasks, this is a significant advancement, representing a new level of AI capability. Therefore, we are resetting the counter to 1 and naming this series OpenAI o1.&#34;</p>
<h3>ChatGPT's paid subscribers surpass 11 million</h3>
<p>Microsoft has added OpenAI's new model o1 preview and o1 mini to the Azure and GitHub platforms. In addition, the media reported that OpenAI is in negotiations with Abu Dhabi investment company MGX to raise $7 billion in funding.</p>
<h3>White House establishes AI Data Center Infrastructure Working Group, AI giants and officials discuss AI infrastructure needs</h3>
<p>OpenAI CEO Sam Altman, NVIDIA CEO Jensen Huang, and others met with senior officials of the Biden administration and other industry leaders at the White House on Thursday to discuss how to meet the massive infrastructure needs of AI projects. Participants also included CEO of Anthropic Dario Amodei, Google CFO Ruth Porat, and Microsoft President Brad Smith.</p>
<h3>JD Pay to increase subsidies, plans to invest 5 billion RMB in the next three years</h3>
<p>JD Pay announced further upgrades in services and subsidy efforts. Over the next three years, JD Pay plans to invest over 5 billion RMB in subsidizing users and donate over 150 million orders for public welfare services. So far, JD Pay has served over 580 million users.</p>
<h3>Simba's Kuaishou live streaming rights permanently banned? Sources suggest AI customer service response may be inaccurate</h3>
<p>There are reports that Kuaishou's official customer service replied to a netizen that Simba's account's live streaming rights have been permanently banned. As of the time of writing, neither Kuaishou nor Simba has responded to this news. A source familiar with the matter told reporters that the source of the information was Kuaishou's AI customer service, which may have some inaccuracies</p>

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<p>Global attention is focused on the Federal Reserve's rate cut next week. Tech stocks are up across the board, with Tesla rising by 0.74% and NVIDIA by 1.92%, while most Chinese concept stocks are down. Adobe's guidance for this quarter is disappointing, sparking concerns about AI revenue prospects, with shares falling more than 10% after hours. ChatGPT releases "草莓" with paid subscribers surpassing 11 million. Amazon raises driver compensation</p>

- Oracle executives are optimistic about future revenue, projecting a minimum of $66 billion for the fiscal year 2026 and at least $104 billion for 2029, with a 20% growth in earnings per share.
- Microsoft integrates OpenAI's new models, o1 Preview and o1 Mini, into Azure and GitHub, surpassing 11 million paid ChatGPT subscribers.
- OpenAI engages in discussions with Abu Dhabi's investment firm MGX to raise $7 billion, while the U.S. White House establishes an AI Data Center Infrastructure Working Group to address the industry's infrastructure needs.

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Breakfast | US stocks rise across the board again, S&P 500 and Nasdaq both up for the fourth consecutive time, Buffett's "right-hand man" aggressively cuts US stock holdings