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Odaily News: Metaplanet has announced the issuance of zero-coupon euro-yen convertible bonds maturing in 2031, with a total scale of 52 billion yen, issued at 102.5% of face value. The bonds will be listed on the Singapore Exchange on October 29, with Merrill Lynch International serving as sole bookrunner. Net proceeds of approximately 51.9 billion yen will be raised, of which approximately 23.6 billion yen will be used to repay the Bitcoin-backed credit facility, which currently has an outstanding balance of approximately $650 million; up to 28.3 billion yen will be used for share buybacks, covering approximately 97.94 million shares, representing approximately 7.1% of issued shares, to offset potential dilution and increase Bitcoin holdings per share. This financing is a key component of Metaplanet's "Project Nova" strategy. Metaplanet currently holds 44,000 Bitcoin, with operations spanning financing, asset management, settlement, and financial product development, and plans to transform from a Bitcoin holder into a Bitcoin-centric native financial platform. The company completed the acquisition of Metaplanet Securities and Superplanet (Nasdaq: SUPA) in 2026, establishing them as the operational foundation for Japan-U.S. capital markets.
Morgan Stanley notes that the memory super cycle is real, but the market continues to price based on the old cycle, failing to reflect full valuation multiples. Memory stocks have already rallied 9-fold since the cycle's inception, amid moderating earnings revision breadth. The firm recommends overweighting the AI compute and networking supply chains, taking a selective approach to memory with a preference for Samsung, SK Hynix, and Kioxia.
According to Chaoxiang Research, a Bernstein research report dated October 12, 2026, indicates that Lumentum (LITE) carries a 2027 forward P/E multiple of 49.3x, while Coherent (COHR) sits at 32.9x; Bernstein maintains an Outperform rating on both names, with price targets set at $1,220 and $350, respectively; mass production of co-packaged optics (CPO) by 2028 remains uncertain, whereas near-packaged optics (NPO) may be ready by 2027. Bernstein assesses that the risk of CPO delays is overpriced, and NPO could serve as an alternative for longitudinally scaling optical interconnects. Most long-term investors remain on the sidelines, while hedge funds are engaged in intense debates surrounding CPO and NPO. Competition from Asia is intensifying, but the technological moat in high-power lasers remains intact. Investors are advised to maintain long or overweight positions in Lumentum and Coherent.
According to Bloomberg, stock, options, and cryptocurrency API broker Alpaca announced plans to launch prime brokerage services in the first quarter of 2027. Prime brokerage provides financing, asset custody, and securities lending services to large institutional investors such as hedge funds, targeting institutional financing demand driven by the convergence of cryptocurrency and traditional securities markets.
据官方消息，跨链互操作性协议 Rome Protocol 宣布推出其原生代币 ROME。该协议旨在连接以太坊虚拟机（EVM）与 Solana，使 Solidity 智能合约能够与 Solana 原生程序及资产实现单笔交易内的原子化结算，其协议底层程序已在 Solana 主网运行并通过 Halborn 审计。
According to Bloomberg, Tencent plans to launch the open-source model Hy4 later in 2026. Additionally, sources familiar with the matter revealed that Tencent Holdings has launched a US dollar and offshore RMB bond issuance program, targeting approximately $5 billion in financing. Tencent plans to issue 10-year and 20-year USD bonds, with initial indicative spreads of approximately 115 and 140 basis points over comparable US Treasury yields, respectively.
White-Haired Stock Oracle Serenity posted on X stating that although AI-related stocks have recently been affected by the macroeconomic environment, rate hike expectations, and concerns over capex sustainability, the fundamentals of key supply chain segments such as memory chips and optical communications remain strong, and the market's pricing of different companies is clearly diverging.He noted that demand visibility for memory manufacturers such as Micron, Samsung, and SK Hynix has extended to 2030-2031, and long-term procurement agreements and price floor mechanisms are expected to support future profitability. On the optical communications side, Lumentum's capacity is essentially sold out through 2029, and with the large-scale adoption of CPO/NPO technology, a supercycle in optical communications may arrive in 2027-2028, with capacity-expanding companies such as AAOI and SIVE worth watching.As for capital-intensive capex companies such as IREN, he stated that the market does not seem to favor companies that require continuous heavy investment while also constantly raising funds. In any case, the market currently appears to have entered a more risk-averse environment, with capital shifting toward large-cap companies in search of safety, such as CrowdStrike (CRWD) and Palantir (PLTR).In addition, the White-Haired Stock Oracle believes that even if AI capex slows, it does not mean that all supply chain companies will come under pressure simultaneously. The current market tends to trade AI-related stocks as a whole, which may lead to some key supply chain companies being undervalued. Rather than simply chasing the AI concept, companies with higher demand visibility, imminent profitability inflection points, and expected declines in forward valuations may deliver better performance over the medium term.
According to multiple individuals involved in the transaction, large model company DeepSeek is set to complete its latest round of financing in the near future, increasing the funding amount from the previously planned 50 billion yuan to approximately 100 billion yuan. This is DeepSeek's second round of financing, with the proposed funding amount doubling in less than half a month. The proposed investment amounts from new and existing shareholders each account for roughly half. The doubling of the financing scale has not impacted the overall valuation, with DeepSeek's current pre-money valuation remaining at approximately 500 billion yuan. New investors in this round include Shixi Capital, SMIC Juyuan, CPE Source Link, Legend Capital, and Geely, primarily consisting of industrial investors.
Odaily News: Multiple sources involved in the deal stated that large model company DeepSeek will complete its latest funding round in the near future, with the financing amount increased from the previously planned 50 billion yuan to approximately 100 billion yuan. This is DeepSeek's second funding round, and the proposed financing amount doubled in less than half a month. Among them, the proposed investment amounts from new and existing shareholders each account for roughly half. The doubling of the financing scale did not affect the overall valuation, and DeepSeek's current pre-money valuation remains at approximately 500 billion yuan. New investors in this round include Shixi Capital, SMIC Capital, CPE Yuanfeng, Legend Capital, Geely, and others, predominantly industrial investors. (Caijing Magazine)
Odaily News: The BlackRock Investment Institute recently adjusted its US asset allocation, upgrading short-term US Treasuries to overweight, raising long-term US Treasuries from underweight to neutral, ending its nearly six-year underweight stance on US Treasuries. At the same time, the institute downgraded US equities from overweight to neutral and lowered its rating on US agency mortgage-backed securities (MBS).BlackRock stated that with US Treasury yields rising to their highest levels in more than two decades, current yields have become attractive, and market expectations for further Federal Reserve rate hikes may be excessively high. Currently, the interest rate swaps market reflects expectations of at least 75 basis points of rate hikes over the next 12 months.Regarding the downgrade of US equities, BlackRock pointed out that capital expenditure and financing needs driven by AI infrastructure buildout are increasing, which could exacerbate short-term volatility in US equities. However, the institute emphasized that this adjustment is aimed at managing near-term risks and does not mean a change in its core long-term bullish view on AI. (Jinshi)
Bitcoin mining companies face massive financing gaps during their transition to AI computing, with just three companies including IREN and Riot Platforms requiring over $30 billion in supplemental capital alone. High borrowing costs and stringent credit scrutiny are exacerbating the financial pressure on miners.
Odaily News: Publicly traded Bitcoin mining companies are expected to need approximately $50 billion to complete their planned AI infrastructure projects, with IREN, Riot Platforms, and HIVE Digital facing funding gaps of approximately $21.1 billion, $7.2 billion, and $4.6 billion, respectively.As Bitcoin mining companies expand into AI and high-performance computing, borrowing costs vary depending on clients, contracts, and project completion pathways. IREN secured $3.65 billion in GPU financing in June at a blended interest rate of 6%; in August, it obtained an additional $2.4 billion in fixed-rate financing at a 9% interest rate.Financing arrangements may also include costs beyond interest. In one Cipher Digital deal, Google agreed to backstop $1.4 billion in lease obligations and received warrants representing 5.4% equity in Cipher; if the warrants are exercised, existing shareholders' ownership stakes could be diluted.According to VanEck data, at the Bitcoin bull market peak last October, mining companies' debt had grown by approximately 500% compared to the second quarter of 2024. Despite a weakening Bitcoin market, capital demand continues to rise as mining companies pivot to AI businesses. (Cointelegraph)
Odaily reports: Bitcoin News posted on X that Strive's SATA preferred stock raised an estimated $55 million during the week of October 5, enough at last week's prices to purchase approximately 638 bitcoins. As of October 2, the company held 29,462 BTC. From September 28 to October 4, Strategy did not sell any STRC shares. An 8-K filing submitted on Monday will reveal whether this SATA cash was actually converted into Bitcoin.
Odaily News: Venture investor Alex Lazarow wrote that over the past two years, Stripe, Mastercard, and Circle respectively acquired U.S. stablecoin infrastructure company Bridge, UK stablecoin infrastructure company BVNK, and Singapore-based cross-border payment platform Tazapay, with the three deals totaling over $3 billion in value. Stripe announced in 2024 that it would acquire Bridge for slightly more than $1 billion; Mastercard's acquisition of BVNK was valued at up to $1.8 billion, including $1.5 billion in base consideration and $300 million in contingent consideration; Circle agreed to acquire Tazapay for $400 million in stock, with the deal expected to close in 2027. Bridge, BVNK, and Tazapay were founded between 2020 and 2022 and had raised approximately $200 million in cumulative funding. Growing stablecoin adoption, an increasingly clear regulatory framework, and rising demand for real-time cross-border payments are the main factors driving the related M&A activity. In 2025, stablecoin adjusted transaction volume grew 91% year-over-year to $10.9 trillion, approaching Visa's $14.2 trillion; real-world payment volume more than doubled to approximately $390 billion.
AI computing power operator KONST has completed a $30 million Series B funding round, led by ADATA Technology, with strategic participation from corporate investors including M Mobility and Pegatron Venture Capital. The new funds will be used to expand its AI data center construction and accelerate its Token Factory strategy. (Aithority)
According to Bloomberg, OPay Digital Services Limited, a subsidiary of SoftBank Group, plans to raise approximately $500 million in total through private placements and its New York IPO, including a $200 million parallel private placement from Standard Bank Group. Relevant information has not yet been publicly disclosed.
Odaily reports: AI research institution DeepSeek plans to lead the seed round funding of robotics AI startup Winverse AI, with an investment amount in the tens of millions of dollars range.Sources say Winverse AI was founded by a former top AI scientist from Tencent and is currently still operating in stealth mode. In addition to DeepSeek, investors including Meituan's investment arm Long-Z Investments also participated in this funding round, bringing the company's post-investment valuation to approximately $400 million.The report notes that DeepSeek will deploy funds from its over $12 billion in financing to support this investment, betting on the rapidly growing field of artificial intelligence and robotics technology.This investment indicates that DeepSeek is further expanding from large model research and development into embodied intelligence and robotics AI. (Bloomberg)
Odaily Report: Goldman Sachs has upgraded its rating on equities to "overweight" for the next three months, while raising its rating on bonds to "overweight" for the next 12 months. In terms of equity allocation, Goldman Sachs is more bullish on AI-related stocks and select high-dividend names.Goldman Sachs stated that improving valuations, resilient corporate earnings, and the trend of slowing inflation will support market performance through 2027. However, the institution also warned that rising yields and geopolitical risks could continue to drive up market volatility.
According to Investegate, UK Bitcoin treasury company The Smarter Web Company PLC (stock code: SWC) has announced its institutional and retail issuance results, successfully raising a total of £10 million (net proceeds of approximately £8.3 million). The company will issue 111,112 preference shares at an issue price of £90 per share, and is expected to list on the Main Market of the London Stock Exchange on October 14, 2026, under the trading code MORE (ISIN: GB00C0HJ0D12).
Bitcoin Treasuries posted on X platform that billionaire Grant Cardone revealed to Peter Schiff that his company uses real estate cash flow every month to buy more Bitcoin, and will buy 500 more Bitcoin through refinancing. The company is using asset classes beyond real estate assets to buy more Bitcoin.