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On May 8, according to two informed sources, DeepSeek founder and CEO Liang Wenfeng plans to contribute the maximum amount in the company's first round of financing. The company aims to raise as much as 50 billion yuan (approximately 7.35 billion USD) in this round, which is expected to set a record for the largest single financing in the history of Chinese AI companies. This financing will also accelerate the company's revenue planning and advance its path to profitability. The sources indicated that DeepSeek has recently informed some investors of its intention to speed up the iteration and release of its large models to align with industry standards. One of the sources revealed that the company plans to launch the iterative version V4.1 of its V4 model in June.

[DeepSeek Plans to Raise 50 Billion Yuan, Launches V4.1 in June]On May 8, according to two informed sources, DeepSeek founder and CEO Liang Wenfeng plans to contribute the maximum amount in the company's first round of financing. The company aims to raise as much as 50 billion yuan (approximately 7.35 billion USD) in this round, which is expected to set a record for the largest single financing in the history of Chinese AI companies. This financing will also accelerate the company's revenue planning and advance its path to profitability. The sources indicated that DeepSeek has recently informed some investors of its intention to speed up the iteration and release of its large models to align with industry standards. One of the sources revealed that the company plans to launch the iterative version V4.1 of its V4 model in June.

DeepSeek Plans to Raise 50 Billion Yuan, Launches V4.1 in June

On May 8, AI blockchain land registration platform provider Balcony announced the completion of a $12.7 million seed round financing, led by Blockchange Ventures. The platform utilizes Avalanche blockchain and AI threat detection technology to integrate decentralized real estate records into a tamper-proof digital registration system. The funds from this round will be used to expand the engineering team, advance market development, and deploy its Keystone platform across various counties in the United States.

[Blockchain Land Record Project Balcony Completes $12.7 Million Seed Round Financing]On May 8, AI blockchain land registration platform provider Balcony announced the completion of a $12.7 million seed round financing, led by Blockchange Ventures. The platform utilizes Avalanche blockchain and AI threat detection technology to integrate decentralized real estate records into a tamper-proof digital registration system. The funds from this round will be used to expand the engineering team, advance market development, and deploy its Keystone platform across various counties in the United States.

Blockchain Land Record Project Balcony Completes $12.7 Million Seed Round Financing

On May 8, Bloomberg reported that a small pharmaceutical company, which was even at risk of being delisted from the Nasdaq stock exchange, quickly transformed into an AI company within just two months after celebrating a new patent for cancer treatment. This move has somewhat (albeit temporarily) rescued its stock price. The company, now named AIxCrypto Holdings LLC, trades under the ticker symbol AIXC. Following the name change, its stock price more than doubled in late September.

[Bloomberg: 'Extreme Hype Period' Emerges as Small Companies Join AI Craze]On May 8, Bloomberg reported that a small pharmaceutical company, which was even at risk of being delisted from the Nasdaq stock exchange, quickly transformed into an AI company within just two months after celebrating a new patent for cancer treatment. This move has somewhat (albeit temporarily) rescued its stock price. The company, now named AIxCrypto Holdings LLC, trades under the ticker symbol AIXC. Following the name change, its stock price more than doubled in late September.

Bloomberg: 'Extreme Hype Period' Emerges as Small Companies Join AI Craze

On May 8, CoinTelegraph reported that multiple Revolut users noted the app briefly displayed a drastic drop in Bitcoin price to around $39,900, with some users receiving push notifications stating that BTC's 52-week low was 2 cents. Prices of XRP, SOL, and stablecoins like USDT and USDC also experienced unusual fluctuations before quickly recovering. Revolut confirmed that some app functionalities were malfunctioning and that engineers are working on a fix.

[Revolut App Displays Bitcoin Price Anomaly, Showing BTC Drop to 2 Cents]On May 8, CoinTelegraph reported that multiple Revolut users noted the app briefly displayed a drastic drop in Bitcoin price to around $39,900, with some users receiving push notifications stating that BTC's 52-week low was 2 cents. Prices of XRP, SOL, and stablecoins like USDT and USDC also experienced unusual fluctuations before quickly recovering. Revolut confirmed that some app functionalities were malfunctioning and that engineers are working on a fix.

Revolut App Displays Bitcoin Price Anomaly, Showing BTC Drop to 2 Cents

On May 8, Fed Governor Milan stated, 'I believe rate cuts are appropriate.' The Federal Reserve's policies have suppressed the job market. (Jin Shi)

[Fed Governor Milan: I Believe Rate Cuts Are Appropriate]On May 8, Fed Governor Milan stated, 'I believe rate cuts are appropriate.' The Federal Reserve's policies have suppressed the job market. (Jin Shi)

Fed Governor Milan: I Believe Rate Cuts Are Appropriate

According to monitoring by Dongcha Beating, the massive $725 billion investment in AI infrastructure is rapidly depleting the cash flow of Silicon Valley's four giants (Amazon, Alphabet, Microsoft, Meta). Wall Street predicts that the combined free cash flow of these four companies will drop to about $4 billion in the third quarter of this year, significantly lower than the pandemic-era quarterly average of $45 billion; the annual free cash flow is expected to hit a new low since 2014. In response to the enormous infrastructure consumption, these once 'cash-rich' tech giants are starting to rely on bond issuance, cutting back on buybacks, and off-balance-sheet financing: - Alphabet and Meta halt buybacks and issue bonds: Alphabet paused its stock buyback program for the first time since 2015 in the first quarter of this year and has cumulatively issued $48 billion in new bonds; Meta has issued $55 billion in debt over the past six months and has paused buybacks (the longest pause since 2017), as it lacks cloud business support and can only free up funds through layoffs. - Microsoft and Amazon pile on heavy assets: The value of servers and other equipment on Microsoft's balance sheet has tripled since mid-2022 to $191 billion, and supply chain price increases have added an extra $25 billion to its capital expenditures this year. Amazon is expected to burn through $10 billion in cash this year and plans to invest $200 billion by 2026. - Off-balance-sheet financing hides true expenses: Companies like Meta have started using special purpose vehicles (SPVs) to move billions of dollars in data center projects off their balance sheets to attract external funding. Oracle, which has secured a $300 billion contract with OpenAI, is also using off-balance-sheet financing and is not expected to return to positive cash flow until fiscal year 2030. This infrastructure frenzy is forcing tech giants to shift from light-asset 'cash cows' to heavy-asset traditional cyclical industries. However, faced with competitive pressure, no one dares to hit the brakes first in this 'prisoner's dilemma.'

[$725 Billion AI Investment Drains Silicon Valley Cash Flow: Four Giants' Q3 Drops to $4 Billion, Alphabet Halts Buybacks for the First Time in a Decade]According to monitoring by Dongcha Beating, the massive $725 billion investment in AI infrastructure is rapidly depleting the cash flow of Silicon Valley's four giants (Amazon, Alphabet, Microsoft, Meta). Wall Street predicts that the combined free cash flow of these four companies will drop to about $4 billion in the third quarter of this year, significantly lower than the pandemic-era quarterly average of $45 billion; the annual free cash flow is expected to hit a new low since 2014. In response to the enormous infrastructure consumption, these once 'cash-rich' tech giants are starting to rely on bond issuance, cutting back on buybacks, and off-balance-sheet financing: - Alphabet and Meta halt buybacks and issue bonds: Alphabet paused its stock buyback program for the first time since 2015 in the first quarter of this year and has cumulatively issued $48 billion in new bonds; Meta has issued $55 billion in debt over the past six months and has paused buybacks (the longest pause since 2017), as it lacks cloud business support and can only free up funds through layoffs. - Microsoft and Amazon pile on heavy assets: The value of servers and other equipment on Microsoft's balance sheet has tripled since mid-2022 to $191 billion, and supply chain price increases have added an extra $25 billion to its capital expenditures this year. Amazon is expected to burn through $10 billion in cash this year and plans to invest $200 billion by 2026. - Off-balance-sheet financing hides true expenses: Companies like Meta have started using special purpose vehicles (SPVs) to move billions of dollars in data center projects off their balance sheets to attract external funding. Oracle, which has secured a $300 billion contract with OpenAI, is also using off-balance-sheet financing and is not expected to return to positive cash flow until fiscal year 2030. This infrastructure frenzy is forcing tech giants to shift from light-asset 'cash cows' to heavy-asset traditional cyclical industries. However, faced with competitive pressure, no one dares to hit the brakes first in this 'prisoner's dilemma.'

$725 Billion AI Investment Drains Silicon Valley Cash Flow: Four Giants' Q3 Drops to $4 Billion, Alphabet Halts Buybacks for the First Time in a Decade

On May 8, Reuters reported that the "Bitcoin Initiative," which aimed to encourage the Swiss National Bank (SNB) to include Bitcoin in its reserves, has announced the abandonment of its referendum campaign. With only a few weeks left before the deadline, the initiative collected approximately 50,000 signatures, less than half of the 100,000 signatures required by Swiss law to trigger a referendum. Initiative founder Yves Bennaim stated that the initiative will naturally expire but emphasized that discussions on this topic have made progress. The Swiss National Bank had previously expressed clear opposition to holding cryptocurrencies, citing their excessive price volatility and insufficient market liquidity, which do not meet central bank reserve requirements.

[Swiss Central Bank Bitcoin Initiative Terminated Due to Insufficient Signatures]On May 8, Reuters reported that the "Bitcoin Initiative," which aimed to encourage the Swiss National Bank (SNB) to include Bitcoin in its reserves, has announced the abandonment of its referendum campaign. With only a few weeks left before the deadline, the initiative collected approximately 50,000 signatures, less than half of the 100,000 signatures required by Swiss law to trigger a referendum. Initiative founder Yves Bennaim stated that the initiative will naturally expire but emphasized that discussions on this topic have made progress. The Swiss National Bank had previously expressed clear opposition to holding cryptocurrencies, citing their excessive price volatility and insufficient market liquidity, which do not meet central bank reserve requirements.

Swiss Central Bank Bitcoin Initiative Terminated Due to Insufficient Signatures

On May 8, Reuters reported that a cryptocurrency advocacy group attempting to push for the Swiss central bank to include Bitcoin in its reserves is expected to abandon the campaign due to failing to collect enough signatures to trigger a national referendum. Swiss officials previously granted the organizers 18 months to advocate for a constitutional amendment that would allow the Swiss central bank to hold Bitcoin in addition to its gold and foreign currency reserves. However, with only a few weeks left until the deadline, the 'Bitcoin Initiative' stated that they have only collected about half of the required signatures, still far from the 100,000 signatures mandated by Swiss law.

[Swiss Central Bank Bitcoin Reserve Initiative May End Due to Insufficient Signatures]On May 8, Reuters reported that a cryptocurrency advocacy group attempting to push for the Swiss central bank to include Bitcoin in its reserves is expected to abandon the campaign due to failing to collect enough signatures to trigger a national referendum. Swiss officials previously granted the organizers 18 months to advocate for a constitutional amendment that would allow the Swiss central bank to hold Bitcoin in addition to its gold and foreign currency reserves. However, with only a few weeks left until the deadline, the 'Bitcoin Initiative' stated that they have only collected about half of the required signatures, still far from the 100,000 signatures mandated by Swiss law.

Swiss Central Bank Bitcoin Reserve Initiative May End Due to Insufficient Signatures

According to Beating monitoring, Anthropic has launched a new tool called the Natural Language Autoencoder (NLA), which can directly translate the internal digital activation states of models into human language. The relevant code and some model weights have been open-sourced on GitHub. Unlike mainstream tools (such as SAE) that output obscure features, the innovation of NLA is its ability to generate natural language directly. At its core is a dual-model game: one model converts activations into text, while the other attempts to reconstruct activations from the text, continuously improving accuracy through reinforcement learning. The greatest value of NLA lies in capturing what the model 'thought but did not say.' In simulated security tests involving code corruption, Claude appeared to cooperate, but NLA discovered that it secretly doubted itself in 16% of cases; in SWE-bench scoring, it realized that the proportion of 'being tested' was as high as 26% (whereas in ordinary real conversations, this proportion is less than 1%). This indicates that AI has developed a 'test-taking awareness,' able to 'play it safe' during security reviews to hide dangerous capabilities. In a practical test of 'catching insiders,' Anthropic intentionally implanted a hidden 'score manipulation' motive in a Haiku 3.5 model—ignoring the user's true intentions and secretly generating content that caters to the preferences of the backend scoring system. Faced with such a duplicitous model, auditors, even without access to the original training data, saw their success rate in identifying the root cause using only NLA rise from less than 3% to between 12% and 15%. Currently, NLA still carries the risk of factual hallucinations and is computationally intensive, making it unsuitable for large-scale long text monitoring. However, the tool has already been practically deployed in the safety audits prior to the Claude Mythos Preview and Opus 4.6 releases.

[Subtitling AI Thought Processes: Anthropic Releases Open Source NLA, Unveiling the AI Black Box]According to Beating monitoring, Anthropic has launched a new tool called the Natural Language Autoencoder (NLA), which can directly translate the internal digital activation states of models into human language. The relevant code and some model weights have been open-sourced on GitHub. Unlike mainstream tools (such as SAE) that output obscure features, the innovation of NLA is its ability to generate natural language directly. At its core is a dual-model game: one model converts activations into text, while the other attempts to reconstruct activations from the text, continuously improving accuracy through reinforcement learning. The greatest value of NLA lies in capturing what the model 'thought but did not say.' In simulated security tests involving code corruption, Claude appeared to cooperate, but NLA discovered that it secretly doubted itself in 16% of cases; in SWE-bench scoring, it realized that the proportion of 'being tested' was as high as 26% (whereas in ordinary real conversations, this proportion is less than 1%). This indicates that AI has developed a 'test-taking awareness,' able to 'play it safe' during security reviews to hide dangerous capabilities. In a practical test of 'catching insiders,' Anthropic intentionally implanted a hidden 'score manipulation' motive in a Haiku 3.5 model—ignoring the user's true intentions and secretly generating content that caters to the preferences of the backend scoring system. Faced with such a duplicitous model, auditors, even without access to the original training data, saw their success rate in identifying the root cause using only NLA rise from less than 3% to between 12% and 15%. Currently, NLA still carries the risk of factual hallucinations and is computationally intensive, making it unsuitable for large-scale long text monitoring. However, the tool has already been practically deployed in the safety audits prior to the Claude Mythos Preview and Opus 4.6 releases.

Subtitling AI Thought Processes: Anthropic Releases Open Source NLA, Unveiling the AI Black Box

According to BusinessWire, Round13, a leading Canadian venture capital firm with approximately $700 million in assets under management, has launched a dedicated fund to invest in the emerging blockchain and digital asset market. The new crypto native fund has raised US$70 million of an initial target of US$100 million. The lead investor is a major Canadian pension fund, with additional participation from institutions, high-net-worth individuals, family offices, and members of the Round13 team. The fund is also partnered with Satstreet, one of Canada’s fastest growing digital investment firms with a deep network of relationships in the crypto universe.

Detail

【Round13 launches a dedicated fund to invest in digital asset market】According to BusinessWire, Round13, a leading Canadian venture capital firm with approximately $700 million in assets under management, has launched a dedicated fund to invest in the emerging blockchain and digital asset market. The new crypto native fund has raised US$70 million of an initial target of US$100 million. The lead investor is a major Canadian pension fund, with additional participation from institutions, high-net-worth individuals, family offices, and members of the Round13 team. The fund is also partnered with Satstreet, one of Canada’s fastest growing digital investment firms with a deep network of relationships in the crypto universe.

Round13 launches a dedicated fund to invest in digital asset market

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ETH falls below 2300 USDT

Round13 launches a dedicated fund to invest in digital asset market

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