[Nasdaq 100 faces third technical correction of the year on AI returns worries]

Data from China's Ministry of Commerce show that, as of Oct 28, the 2026 trade-in program had driven cumulative sales of related goods past RMB 2 trillion, benefiting over 257 million people. Digital products covered by trade-in subsidies, including mobile phones and tablets, saw sales rise 44.8% year on year, lifting retail sales of communications equipment up 18.1% in the first three quarters. The policy has also driven green and smart upgrades: new energy vehicles (NEVs) accounted for 60.5% of trade-in purchases, and the NEV passenger car retail penetration rate has exceeded 60% for six consecutive months.

On Oct 29, Hainan Provincial Computing Technology Co. and Tencent Cloud signed a strategic cooperation agreement covering computing infrastructure, large-model token services and AI office applications, for an integrated "AI + computing" solution for Hainan's government and enterprise sectors. The token cooperation covers commercial collaboration on large-model token services and paths to commercialize token going global and cross-border computing output. Tencent Cloud will also provide Hainan Computing and its customers with resources and services spanning high-performance and intelligent computing, storage and networking, supporting large-scale training and inference on the provincial AI platform with stable, flexible supply.

At SEMICON West 2026 in San Francisco, Nvidia unveiled a prototype of its next-generation co-packaged optics (CPO) solution, dubbed OOI (Optics-on-Interposer). Nvidia declined to give a commercialization timeline for OOI, saying only that it has received prototype samples. Industry sources said OOI will not affect China's optical communications industry in the short to medium term, noting that Nvidia's Feynman architecture, slated for 2028, will still adopt CPO and that OOI mass production is unlikely until after 2030.