US Officials Call Megaspeed Executive Close to Nvidia’s Jensen Huang a Chinese Asset
Megaspeed’s Malaysian sister company bought at least US$4.8 billion of Nvidia-based AI equipment, and a Justice Department case now covers it.
DAILY BRIEF · 10 STORIES
The October 30, 2026 brief
China’s Innolight Nearly Triples Q3 Profit to RMB8.59 Billion on AI Optical Modules
Third-quarter revenue rose 171.83% to RMB27.77 billion, yet profit grew only 8% from the second quarter as currency and investment losses held profit back.
China’s Embodied-AI Investors Pull Back as Deal Flow Halves and Shares Sell at Discounts
IT Juzi counted 33 embodied-AI financings worth RMB10.1 billion in October, against 55 deals worth RMB30.9 billion at June’s peak.
Z.ai’s GLM-5.3 Completes Three of 13 Simulated Cyberattacks in Irregular’s Tests
The open-weight model refused none of the offensive tasks and kept reusing memorized code after being told not to, security firm Irregular found.
Tencent Says Overseas Demand for Its AI Grew Triple Digits as WorkBuddy Opens Up
Tencent Cloud now runs more than 2 million servers worldwide, and its WorkBuddy agent reaches half of China’s 500 largest companies, it said on October 29.
GigaDevice’s Q3 Profit Jumps 729% on Memory Prices but Falls 22% From Q2
The Beijing chip designer earned RMB4.21 billion in the third quarter on revenue of RMB8.73 billion, as tight memory supply lifted prices and volumes.
Foxconn Industrial Internet’s Nine-Month Profit Tops RMB40 Billion on AI Server Demand
Shipments of AI-ASIC servers rose 150% from a year earlier in the third quarter, and a new generation of AI racks has started shipping.
China Unicom’s Nine-Month Profit Falls 33.6% Even as Computing Revenue Grows 12.2%
The state carrier earned RMB13.28 billion in the first nine months on flat revenue of RMB294.65 billion, while international revenue rose 14.5%.
Momenta-Linked XHEART Launches 700-TOPS X7 Ultra Chip for Self-Driving AI Models
Momenta said its upcoming R7 Ultra driving model, built for the chip, has five times the parameters of the original R7, and it plans to reach 10 times.
Chinese Chip-Equipment Maker Naura Sees Q3 Sales Growth Slow to 1.3%
Naura’s third-quarter revenue reached RMB11.31 billion and net profit rose 5.18% to RMB2.02 billion, as tight supply of some materials held back deliveries.