TechFlow Intelligence Agency: Xiaomi announces HKD 20 billion share buyback plan, spot gold falls nearly 1%

AI / Large Models

DeepSeek’s consecutive rounds of price cuts spark heated debate

Zhihu generates 980k hot discussions on pricing strategies, and the price war has entered an intense phase.

Zhihu

Google releases Gemini Omni, and its video editing capabilities really steal the show

Reddit hot posts show that its video processing ability far exceeds that of competitors, and the community comments are “blowing up the competition.”

Hot take: After text models are done competing, they start competing in video. Next, is it time to compete at dreaming?

Google Blog | Reddit discussion

The author of “Attention is All You Need” calls for abandoning Transformer

At a Pathway debate, the original paper’s author argues that the architectural paradigm should be iterated, triggering 290+ discussions.

Hot debate: the community is split into “conservatives” and “innovators,” and some people think the Transformer can still fight for another ten years.

Reddit discussion

IBM’s quantum computer trains an AI model to answer questions successfully for the first time

While the basic model can’t answer certain questions, the quantum-trained version answers correctly—however, the paper does not disclose the exact magnitude of the accuracy improvement.

Live Science

Qwen3.5 local model “uncensored version” released

The 35B and 27B parameter versions keep all MTP (multi-task pretraining), support multiple formats including GGUF, NVFP4, and GPTQ—local-deployment enthusiasts are celebrating.

Hugging Face

Crypto / Web3

Son of a North Korean defector accused of a $1.1 million crypto scam

A high-profile family member of the defector is implicated, but case details have not been made public.

Sandmark

Stablecoin yield products still conceal key data

The DeFi community accuses most platforms of opaque risk disclosures and actual annualized yields, with 440+ interactions discussing the need for regulation.

Reddit discussion

DEX quietly adds protocol fees, and users only find out three months later

Ethereum users complain that the DEX launched the new fee rates without clearly notifying them, and the community calls for a mandatory public notice period for fee changes.

Reddit discussion

Tech companies

Uber COO publicly questions AI investment returns

For the first time, a major-company executive openly says it is “increasingly hard to prove the justification of AI spending,” and cannot demonstrate the link between expenditures and functional growth. Microsoft faces a similar predicament.

Hot take: After burning tens of billions of dollars, it turns out it would have been better to hire a few more customer service reps. The awkward moment of the AI bubble has arrived.

Business Insider | Live Mint

Motorola phones hijack Amazon app to insert rebate codes

Users find that Motorola phones’ system automatically inserts rebate IDs into Amazon links, causing an uproar in the Google Store review section.

9to5Google | Hacker News

Google is accused of “devouring the web to feed AI”

The Register reports that Google is encroaching on the open web to provide fuel for generative AI, sparking 260+ discussions about risks to the network ecosystem.

The Register

Xiaomi announces a HKD 20 billion stock repurchase plan

36Kr

US stocks

The S&P 500’s price-to-earnings ratio reaches 31.8x—what stories can a bull market tell?

Reddit is abuzz with debates about the risk of excessive valuation, with 350+ discussions split into “AI dividends haven’t been paid out yet” and “it’s time to run.”

Reddit discussion

Semiconductor stocks become black holes, and other sectors are abandoned

The AI data center construction boom drives chip stocks to surge, with capital extremely concentrated and traditional sectors ignored.

Hot debate: retail investors complain, “Not buying semiconductors means losing money,” and some warn the bubble is about to burst.

Reddit discussion

The AI data center construction boom will not last forever

A long-form analysis of long-term risks of chip stocks such as CXMT calls on retail investors to formulate exit strategies.

Reddit discussion

Finance / Macroeconomics

US airstrikes Iranian missile positions as peace talks proceed in parallel

The U.S. Central Command says its strikes targeted Iranian Holzmuz Strait mines and missile launch sites, and Iran’s negotiating representatives arrive in Doha at the same time. After oil prices jumped more than 6% in a single day, they fell again amid rumors that the strait may reopen.

CNN | AFP Twitter | CNBC

Spot gold falls nearly 1%, to $4,526.79 per ounce

Geopolitical risks cool down while the dollar strengthens.

New products / New trends

Ferrari’s first all-electric car, Luce, starts at 4.35 million yuan

Zhihu generates 2.2 million hot discussions on pricing strategies, and users complain, “If you can afford it, it’s not special; if it’s special, you can’t afford it.”

Zhihu

Boston Dynamics Atlas robot learns to kick by watching football videos

Modern / Boston Dynamics releases a “Football School” series documenting Atlas’s training process, with 320+ discussions on the feasibility of “making sports AI-driven.”

Reddit discussion

Unitree Technology’s IPO is imminent—who will get the first humanoid robot stock?

Caixin digs into the investors behind it, with a countdown to listing on the STAR Market.

Caixin

Today’s dark line

Uber and Microsoft simultaneously publicly question AI investment returns. The S&P 500’s P/E ratio climbs to 31.8x, and semiconductor stocks siphon capital across the entire market—these three things point to the same issue: the AI narrative is shifting from “endless possibilities” to the “results speak for themselves” stage. Meanwhile, Iran’s talks and airstrikes proceed in parallel, and oil prices surge and then crash—reminding everyone in the oldest way possible that geopolitics can rewrite valuation logic faster than AI.