🥵Nvidia AI Chips "Overheating"

☀️Good morning. It's Monday, Nov. 18, and we're covering, Alibaba Seeks To Raise $5 Billion In Dual-Currency Bond, Nvidia’s Blackwell AI Chips Overheating In Servers, Causing Delays, Israeli Air Strike In Northern Gaza Leaves 34 Dead, and much more. First time reading? Sign up to get this newsletter: Sign up here.

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MARKETS

Cryptocurrency Prices by Market Cap

• The global cryptocurrency market cap today is $3.05 Trillion, a 0.99% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $151.37B, which makes a 13.35% decrease.

• The total volume in Defi is currently $10.1B, 6.67% of the total crypto market 24-hours.

• The volume of all stablecoins is now $137.15B, which is 90.61% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 58.70%, a decrease of 0.43% over the day.

Bitcoin Dips Near $90,000 Amid Market Caution And Regulatory Uncertainty

Bitcoin traded at $90,100 on Monday morning in Singapore after experiencing its largest two-day decline since the U.S. presidential election, falling nearly 3% over the weekend. The decline, the largest since the U.S. presidential election, comes amid market uncertainty over President-elect Donald Trump's crypto policy agenda, which includes proposals for a favorable regulatory framework and the creation of a U.S. Bitcoin reserve.U.S.-based Bitcoin ETFs saw record inflows of $4.7 billion in early November but experienced $771 million in outflows over the past week, signaling a cooling of investor enthusiasm. (Read Deeper)

BUSINESS & FINANCE

Alibaba Seeks To Raise $5 Billion In Dual-Currency Bond

Alibaba Group is seeking to raise $5 billion through a dual-currency bond issuance, consisting of both dollar and offshore Chinese yuan bonds. The deal will include a multi-tranche offering, with dollar bonds in 5.5-year, 10.5-year, and 30-year maturities, and yuan bonds in 3.5-year, 5-year, 10-year, and 20-year maturities. The company plans to use the funds raised for general corporate purposes, such as debt repayment and share repurchases.

Why it Matters: The bond issuance is expected to provide Alibaba with significant liquidity, helping to strengthen its balance sheet and support ongoing business operations. The funds raised from the bond sale will also be used for share repurchases, allowing the company to return value to shareholders. The issuance of both dollar and yuan-denominated bonds highlights Alibaba’s dual-market presence and its ability to tap into both global and domestic sources of capital. (Read Deeper)

Investors Call For IPO Access As Hong Kong Stock Connect Marks 10th Anniversary

The Hong Kong Stock Connect program, launched a decade ago, has successfully facilitated billions in daily trading between Hong Kong, Shanghai, and Shenzhen. Despite its success, the program has yet to allow investors access to initial public offerings (IPOs) in either market. While the idea of opening the primary market has been discussed, it remains a long-term goal due to regulatory caution. HKEX CEO Bonnie Chan emphasized that the program is still in its early stages, with plans for expansion in products, infrastructure, and participation.

Takeaway: Stock Connect has become a key player in international finance, and future expansions, such as adding real estate investment trusts (REITs), are expected. Though IPO access remains elusive, the program is seen as a major financial innovation with promising potential for growth. Trading volumes have surged following China's recent stimulus measures, and the Stock Connect now accounts for significant portions of daily turnover in both China and Hong Kong. Investors are calling for broader product offerings, including futures, bonds, and commodities, to improve risk management. (Read Deeper)

TECHNOLOGY & SCIENCE

Nvidia’s Blackwell AI Chips Overheating In Servers, Causing Delays

Nvidia's new Blackwell AI chips are encountering overheating issues when placed in server racks designed to hold up to 72 chips, delaying deployment for some major customers like Meta, Google, and Microsoft. The company has asked suppliers to revise the design of the racks multiple times in an attempt to fix the problem. Despite these issues, Nvidia has assured that the engineering changes are a normal part of the process.

Takeaway: The Blackwell chips, which were originally expected to ship in Q2, combine two pieces of silicon from Nvidia’s previous model, offering a significant performance boost. However, the overheating problem is affecting the timely roll-out of these advanced chips. (Read Deeper)

The Exploration Company Secures $160M To Develop Reusable Space Capsule

The Exploration Company, a European aerospace startup, has raised $160 million in Series B funding to develop Nyx, Europe's first reusable space capsule. The Nyx capsule is designed to transport cargo to and from the International Space Station (ISS), with plans for its maiden flight in 2028. The company, founded in 2020, has already secured contracts with the European Space Agency (ESA) and private space station developers like Vast, Axiom Space, and Starlab. The Series B round, led by Balderton Capital and Plural, brings the company's total funding to over $208 million.

Takeaway: The startup aims to provide an alternative to U.S.-based companies like SpaceX, focusing on privately funded space ventures. The company launched its first demonstrator vehicle aboard Ariane 6 earlier this year, though deployment was hindered by an upper-stage issue. A second demonstrator mission, Mission Possible, is scheduled to launch on a SpaceX Falcon 9 in 2025. (Read Deeper)

AROUND DE WORLD & POLITICS

Biden Approves Ukraine To Use U.S. ATACMS Inside Russia

President Joe Biden has approved Ukraine's use of U.S.-made Army Tactical Missile Systems (ATACMS) to target sites inside Russia. These long-range missiles, capable of striking targets up to 100 kilometers away, will allow Ukraine to hit deeper into Russian territory. However, their limited supply and the ongoing effectiveness of Ukrainian drones may restrict their overall impact on the battlefield.

Takeaway: The decision, delayed due to concerns about provoking Russia, is seen as a response to Moscow's escalations, including the deployment of North Korean troops in Kursk. Analysts warn that Russia could retaliate through unconventional means, such as sabotage in Europe. This escalation complicates the conflict for President-elect Donald Trump, who will inherit a war with heightened stakes as he takes office. (Read Deeper)

Israeli Air Strike In Northern Gaza Leaves 34 Dead

An Israeli air strike on a residential building in Beit Lahia, northern Gaza, killed at least 34 people, including women and children, with dozens still trapped under the rubble. The strike is part of Israel's intensified military campaign against Hamas militants in Gaza, targeting what it calls "terrorist sites." Rescue efforts are hindered by continuous shelling, and humanitarian conditions are worsening. Separate attacks in central Gaza and Rafah killed an additional 20 people.

Takeaway: The conflict, ongoing since Hamas's attack on Israel on October 7, has displaced 1.9 million Gazans, with 75,000 under siege and critical shortages of water and food. The death toll in Gaza has surpassed 43,700. The United Nations and human rights groups accuse Israel of war crimes, citing mass civilian displacements and high casualties. (Read Deeper)

ENTERTAINMENT & SPORTS

Adele Confirms Engagement With Sports Agent Rich Paul

Adele has confirmed her engagement to sports agent Rich Paul, displaying a pear-shaped diamond ring during her Las Vegas residency performance. The couple, who began dating in 2021, has reached significant milestones, including purchasing a $58 million Beverly Hills mansion. Adele reflected on her two-year residency at Caesar’s Palace, sharing its transformative impact on her personal life and announcing plans for an extended break after the final show later this month. (Read Deeper)

Arsenal’s Injury Woes Deepen As Leandro Trossard Subbed Off

Arsenal’s injury troubles continue as Leandro Trossard was substituted during Belgium’s match against Israel in the 37th minute due to an unspecified issue. Trossard’s withdrawal adds to Arsenal’s existing injury list, which includes key players like Martin Ødegaard, Ben White, Ricardo Calafiori, and Bukayo Saka. The Gunners are looking to bounce back in their Premier League title chase as they prepare to face Nottingham Forest next weekend. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• Clayton Christensen explores why even the most successful companies, those with strong leadership, loyal customers, and cutting-edge technology fail when faced with disruptive innovation. (Listen)

EXTRA BREVITI

• Huawei Technologies announced on Monday that it has started taking pre-orders for its much-anticipated Mate 70 smartphone model

• Brazil's First Lady, Janja Lula da Silva, stirred controversy over the weekend with a pointed remark directed at billionaire Elon Musk during a G20 social event.. (Read More)

• A pair of winter storms is set to disrupt U.S. travel ahead of Thanksgiving, bringing heavy snow, cold air, rain, and strong winds. (Read More)

• ByteDance, the parent company of TikTok, has recently valued itself at approximately $300 billion, as it approached investors for a share buyback program. (Read More)

• Hezbollah’s media chief, Mohammed Afif, was killed in an Israeli airstrike targeting the Baath Party headquarters in Beirut’s Ras al-Naba neighborhood. (Read Deeper)