Feng Huang Wang Cai Jing·2025-11-25 14:41Market Overview - On November 25, U.S. stock indices opened mixed, with the Dow Jones up 0.28%, the S&P 500 down 0.09%, and the Nasdaq down 0.41% [1] Company News - Alibaba reported its Q2 FY2026 revenue at 247.8 billion yuan, a year-on-year increase of 4.8%, surpassing the estimated 245.2 billion yuan; adjusted earnings per ADS were 4.36 yuan, below the expected 6.34 yuan; the Chinese e-commerce segment generated 132.58 billion yuan, with adjusted net profit at 10.35 billion yuan, also below the forecast of 16.8 billion yuan [2] - X-energy, a nuclear reactor developer supported by Amazon, completed nearly $700 million in oversubscribed Series D financing, led by Jeneration Capital, with new investors including Ark Invest, Galvanize, Hood River Capital Management, Point72, Reaves Asset Management, and XTX Ventures [5] - Pony.ai reported Q3 2025 revenue of 181 million yuan, a 72% year-on-year increase; Robotaxi business generated 47.7 million yuan, up 89.5% year-on-year, with passenger fare revenue increasing over 200%; Robotruck revenue was 72.5 million yuan, and technology licensing and application revenue was 61 million yuan; the seventh-generation Robotaxi began fully autonomous commercial operations in Beijing, Guangzhou, and Shenzhen in November [7][8] Stock Performance - Alibaba's stock rose over 2% in pre-market trading [3] - Pony.ai's stock surged over 13% in pre-market trading [9] Legal Matters - TSMC filed a lawsuit against former senior vice president Luo Wei-ren, alleging potential leakage of trade secrets to Intel after his retirement and subsequent employment with the company [4] Regulatory Actions - Singapore's Ministry of Home Affairs issued directives to Google and Apple to implement measures by November 30, 2025, to prevent fraud through their messaging platforms [6]