Daily News Coverage · October 29, 2026
The Big Headline: SK hynix's Record Quarter, Google's Carbon Model, OpenAI-ServiceNow, TSMC's Packaging Power and Korea's Financial Hack Wave
Good morning, folks! SK hynix posts the largest quarterly profit in its history — 104.6 trillion won in revenue and 83.3 trillion won in operating profit, up 632% year-over-year — and pledges roughly 100 trillion won in shareholder returns while declaring memory shortages will last until 2030. Google CEO Sundar Pichai unveils Carbon, a new AI model he says outperforms Gemini 4 Argon, launching first to cybersecurity partners. OpenAI and ServiceNow expand their partnership, embedding OpenAI models and agents into ServiceNow workflows and connecting them to ChatGPT and Codex. TSMC reportedly plans to raise advanced packaging prices by up to 20% as CoWoS becomes the pricing-power layer of the AI supply chain.
OpenAI is also reportedly planning to buy Google TPUs, reducing its dependence on Nvidia. Microsoft beats estimates with Azure up 48% to $33.2 billion. GMO Internet's extortion site is knocked offline as the company offers a $1 million reward. Korea's financial hack wave widens to Bithumb, Daishin Securities and Mirae Asset, prompting an emergency Blue House meeting. Upwind raises $400 million at a $3.8 billion valuation. Casap secures $56 million for AI-driven financial services. Intel's CEO says he has discussed potential cooperation with AMD. And Moldova discloses a government cyberattack affecting 750,000 people. Here's today's briefing from The CODEW's The Newsroom.
SK hynix Posts Record Q3 With 83.3 Trillion Won Operating Profit, Declares Memory Shortage Will Last Until 2030
Revenue topped 100 trillion won for the first time at 104.6 trillion won, operating margin hit 80%, and the company announced roughly 100 trillion won in shareholder returns.
What happened: SK hynix reported third-quarter 2026 consolidated revenue of 104.6155 trillion won ($73.2 billion) and operating profit of 83.3338 trillion won ($58.3 billion), both all-time quarterly records, the company said on October 28. Revenue rose 328% year-over-year, operating profit jumped 632%, and operating margin reached 80% — the sixth consecutive quarterly record. Revenue crossed 100 trillion won in a single quarter for the first time in the company's history. SK hynix said HBM4 shipments are now in full swing and server DDR5 sales rose sharply, with 321-layer TLC eSSD also contributing. The company declared that memory supply shortages will continue until 2030 — longer than its previous 2027–2028 forecast — and said more than half of total production capacity through 2028 is already locked into long-term agreements, with HBM volumes effectively sold out through 2029. SK hynix announced a shareholder return package of roughly 100 trillion won, including more than 30 trillion won in cash dividends and at least 60 trillion won in buybacks and cancellations. The stock surged more than 12%.
Key numbers/companies: SK hynix · 104.6 trillion won revenue · 83.3 trillion won operating profit · +632% YoY · 80% operating margin · 100 trillion won shareholder return · HBM4 · 321-layer TLC eSSD · memory shortage through 2030 · stock +12%.
Why it matters: The results are a direct rebuttal to the "semiconductor peak" thesis that has weighed on memory stocks for months. SK hynix is telling the market that demand exceeds supply through the end of the decade, and that its order book is already sold out for the highest-value products. The 80% operating margin is unprecedented for a memory maker and shows how much pricing power has shifted to HBM suppliers. The 100 trillion won return is also a signal of confidence in free cash flow durability.
What's next: Samsung's earnings, due October 29, will show whether the memory upcycle is broad-based or concentrated in SK hynix's HBM franchise.
Sources: Money Today; GMW; Seoul Economic Daily; Yonhap Infomax; DigitalToday; Mitrade.
Google CEO Pichai Unveils Carbon AI Model, Says It Outperforms Gemini 4 Argon and Launches First to Cybersecurity Partners
The model is being positioned as a security-first release, with initial access limited to cybersecurity partners before broader availability.
What happened: Alphabet CEO Sundar Pichai said on October 29 that Google's new AI model Carbon performs better than Gemini 4 Argon, and that it is being launched first to cybersecurity partners. The disclosure was made in a brief statement that did not include benchmark details, pricing, or a general availability date. The cybersecurity-first rollout is unusual for a flagship model and suggests Google is positioning Carbon for security-sensitive workloads before opening it to broader enterprise and consumer use.
Key numbers/companies: Google · Sundar Pichai · Carbon · Gemini 4 Argon · cybersecurity partners.
Why it matters: A new model that outperforms Gemini 4 Argon would be Google's most significant capability release since the Gemini 4 family, and the cybersecurity-first strategy suggests Google is targeting high-trust enterprise workflows where accuracy and auditability matter more than consumer features. It also puts pressure on OpenAI and Anthropic, both of which have been expanding into security use cases.
What's next: Whether Google publishes benchmark results and when Carbon becomes generally available.
Sources: CLS; ChainCatcher; East Money.
OpenAI and ServiceNow Expand Partnership, Embedding Models and Agents Into IT Workflows
ServiceNow workflows will connect to ChatGPT and Codex, extending a January partnership into IT service requests and security resolution.
What happened: OpenAI and ServiceNow announced an expanded partnership on October 28 that will bring more OpenAI models and agents into ServiceNow products and connect ServiceNow workflows with ChatGPT and Codex. The companies said the goal is to make it easier for enterprises to use AI to build applications, handle IT service requests, and resolve security issues. The expansion builds on a partnership announced in January and embeds OpenAI capabilities into more of ServiceNow's customer service and internal operations. ServiceNow shares fell 2.92% on the news.
Key numbers/companies: OpenAI · ServiceNow · ChatGPT · Codex · IT service requests · security resolution.
Why it matters: The deal gives OpenAI a distribution channel into ServiceNow's large enterprise installed base for IT service management, where agents can act on tickets, approvals and security workflows. It also deepens OpenAI's competition with Microsoft, whose Copilot stack is embedded in competing enterprise workflows. The negative stock reaction suggests investors are unsure whether the partnership adds revenue or increases dependency.
What's next: When the integrated workflows become generally available and how Microsoft responds.
Sources: CLS; FinScope; Baidu Finance.
TSMC Reportedly Plans Up to 20% Advanced Packaging Price Hike as CoWoS Becomes the AI Bottleneck
A 20% increase could add $140 to $200 in direct packaging cost per high-end AI processor, shifting pricing power from wafer fabrication to packaging.
What happened: TSMC is reportedly preparing to raise prices for its CoWoS (Chip-on-Wafer-on-Substrate) advanced packaging by 10% to 20% for major AI chip designers, according to supply chain sources cited by Taiwan's Commercial Times and reported by TrendForce, Yonhap Infomax and others. A 20% increase would add an estimated $140 to $200 in direct packaging cost per high-end processor. The report said foundries and outsourced packaging firms are weighing another round of 10% to 20% increases, and that TSMC is skipping equipment price renegotiations amid the AI demand surge. The core significance, according to industry analysis, is that the AI compute bottleneck has shifted from "can we make the wafer" to "can we package the chip" — turning packaging from a low-margin step into a pricing-power layer.
Key numbers/companies: TSMC · CoWoS · 10–20% price increase · $140–$200 per processor · Commercial Times · AI chip designers.
Why it matters: Packaging is now the scarce input in AI chips, and TSMC controls it. The price hike will flow through to Nvidia, AMD, Broadcom and the hyperscalers that buy their accelerators, raising the cost of AI compute at the margin. It also reinforces TSMC's leverage: customers cannot easily switch packaging suppliers because CoWoS capacity and yield are concentrated.
What's next: Whether the price increase is confirmed on TSMC's next earnings call and how customers respond.
Sources: TrendForce; Yonhap Infomax; East Asia Brief; Yahoo Finance; TechPowerUp; Business Standard; Sohu.
OpenAI Plans to Buy Google TPUs, Reducing Reliance on Nvidia
The Information reported the plan on October 27; neither OpenAI nor Google has confirmed the deal, and terms were not disclosed.
What happened: OpenAI plans to buy Google's Tensor Processing Units (TPUs), according to a report from The Information citing sources and relayed by Reuters and Yonhap. The report did not disclose the purchase amount or other transaction details, and neither company has confirmed the deal. Google's TPUs have gained traction as an alternative to Nvidia's market-leading GPUs as companies seek cheaper options and chips suited to running AI models. The move follows Anthropic's use of TPUs and Oracle's decision to offer Google TPUs on OCI.
Key numbers/companies: OpenAI · Google · TPU · The Information · Nvidia · Anthropic · Oracle.
Why it matters: If confirmed, the deal would mark a significant diversification of OpenAI's compute stack away from Nvidia, which has been its primary supplier. It would also validate Google's strategy of selling TPUs externally, turning a internal cost advantage into a merchant silicon business. For Nvidia, it is another signal that its largest customers are hedging.
What's next: Whether the deal is confirmed and how Nvidia responds on pricing or allocation.
Sources: Yonhap; RTI; Financial News; Reuters; MarketScreener.
Microsoft Beats Estimates as Azure Grows 48% to $33.2 Billion, Revenue Rises 19%
Microsoft disclosed Azure revenue in dollars for the first time, and adjusted EPS of $4.89 beat consensus of $4.73.
What happened: Microsoft reported first-quarter fiscal 2027 results on October 28 that beat Wall Street estimates, with revenue rising 19% to $92.3 billion and adjusted EPS of $4.89 versus a consensus of $4.73. Azure revenue grew 48% to $33.17 billion, topping Visible Alpha estimates of $32.84 billion, and Microsoft disclosed Azure revenue in dollars for the first time in an earnings statement. Microsoft Cloud revenue was $63.9 billion, up 30%. The stock jumped 5% on the results.
Key numbers/companies: Microsoft · $92.3 billion revenue · +19% · Azure $33.17 billion · +48% · Microsoft Cloud $63.9 billion · +30% · EPS $4.89 · stock +5%.
Why it matters: Azure's 48% growth — accelerating from 42% the prior quarter — is the strongest evidence yet that enterprise AI spending is translating into cloud revenue. Disclosing Azure revenue in dollars also gives investors a cleaner read on the business. Microsoft's ability to fund Azure's growth from profits, rather than debt, contrasts with Oracle's cash burn and reinforces its position as the financially strongest hyperscaler.
What's next: Whether Azure can sustain 40%+ growth as AI capacity comes online.
Sources: CNBC; Constellation Research; Yahoo Finance; Bloomberg; Benzinga; MarketScreener.
GMO Internet Says Hackers' Extortion Site Knocked Offline as It Offers $1 Million Reward and Relief Payments
The domain was suspended after a user reported a terms-of-service violation; GMO will pay up to 25,000 yen per affected user and is seeking information on the attackers.
What happened: GMO Internet Group said on October 28 that an extortion site used by hackers who breached its Onamae.com Desktop Cloud service had been taken offline after its domain was suspended, according to The Asahi Shimbun. The site had posted what was described as personal information of GMO customers, including names and addresses, on October 27. Registration records checked through ICANN showed the domain registrar had suspended the extortion site, and a mirror site domain was also suspended. GMO is offering a reward of up to $1 million for information that helps identify or arrest those behind the attack and is seeking information about servers used and cryptocurrency transfer records. The company announced special relief payments of 10,000 yen for release of basic information, 15,000 yen for financial or authentication data, and 25,000 yen for highly private information, separate from a uniform 5,000-yen outlay. The attackers initially demanded $50 million and threatened ransomware attacks; GMO has refused to pay.
Key numbers/companies: GMO Internet · Onamae.com Desktop Cloud · $1 million reward · 10,000–25,000 yen relief payments · $50 million initial demand · ICANN · domain suspension.
Why it matters: Knocking the extortion site offline buys GMO time, but it does not undo the data already published. The relief payments are an admission that customer data was exposed and that the company expects financial harm. The $1 million reward is unusually high for a Japanese company and signals that GMO is treating attribution as a priority.
What's next: Whether the attackers stand up a replacement site and how many customers file for relief payments.
Sources: The Asahi Shimbun.
Korea's Financial Hack Wave Widens as Blue House Convenes Emergency Meeting
Bithumb, Daishin Securities and Mirae Asset confirmed breaches, with 38,490 Daishin customers exposed; investigators detected many North Korean IP ranges.
What happened: South Korea's presidential office convened an emergency review meeting on October 28 after a wave of cyberattacks hit financial institutions, according to Rti and Yonhap. The Financial Supervisory Service confirmed that crypto exchange Bithumb, asset manager Mirae Asset, and brokerage Daishin Securities were breached. Daishin Securities discovered unauthorized server access on October 17 and reported the leak of 38,490 customers' personal and credit information; Bithumb said its internal mobile office system was accessed without authorization on October 27, exposing employee data. At least 16 financial institutions, including Shinhan Bank and KB Kookmin Bank, have been attacked since early October. Investigators detected many connection attempts from North Korean IP ranges, though officials cautioned that IP addresses can be spoofed. The Blue House said agencies will share attack information and investigation results in real time.
Key numbers/companies: Bithumb · Daishin Securities · Mirae Asset · Shinhan Bank · KB Kookmin Bank · 38,490 customers · 16 financial institutions · North Korean IPs · Blue House.
Why it matters: The scope of the campaign — banks, brokerages, asset managers and crypto exchanges — suggests a coordinated effort against Korea's financial sector rather than isolated incidents. The suspected North Korean involvement, if confirmed, would make this a state-sponsored campaign. The Blue House's decision to share information in real time is a recognition that individual institutions cannot defend against a coordinated adversary alone.
What's next: Whether attribution to North Korea is confirmed and how Korean regulators tighten security requirements for smaller financial firms.
Sources: Rti; Yonhap; KBS; Radio Romania.
Moldova Discloses Major Government Cyberattack Affecting Data of 750,000 People
Authorities are investigating possible involvement of foreign state actors, with experts warning of fraud and identity theft risks.
What happened: Moldova disclosed a major cyberattack on its government systems that accessed the data of approximately 750,000 people, according to Radio Romania. Authorities are investigating possible involvement of foreign state actors, while experts warned of risks of fraud and identity theft. The disclosure did not specify which government systems were affected or how the attackers gained access.
Key numbers/companies: Moldova · 750,000 people · government systems · foreign state actors · identity theft.
Why it matters: The scale of the breach — roughly a quarter of Moldova's population — makes it one of the largest government data exposures in Europe this year. The suspected foreign state involvement, if confirmed, would place it in the same category as the cyber campaigns against Ukraine and the Baltic states.
What's next: Whether Moldova attributes the attack and how the EU responds.
Sources: Radio Romania.
Upwind Security Raises $400 Million Series C at $3.8 Billion Valuation to Build Cloud and AI Security Platform
Bessemer led the round less than nine months after a $250 million Series B; revenue quadrupled in 2026, and the company reportedly rejected a $4 billion acquisition offer.
What happened: Upwind Security raised $400 million in a Series C round led by Bessemer Venture Partners at a $3.8 billion post-money valuation, according to Axios, Bloomberg and the company. Participation included Greylock Partners, Cyberstarts, Craft and Salesforce Ventures. The round comes less than nine months after a $250 million Series B and values the company at $3.8 billion. Upwind's revenue quadrupled in 2026. The Israeli cybersecurity company reportedly rejected a $4 billion acquisition offer from Datadog, confident its value will rise further.
Key numbers/companies: Upwind Security · $400 million Series C · $3.8 billion valuation · Bessemer · Greylock · Cyberstarts · Salesforce Ventures · $4 billion Datadog offer · revenue 4x.
Why it matters: The raise reflects continued investor appetite for cloud and AI security platforms that can detect runtime threats in production. Upwind's decision to reject a $4 billion offer suggests it sees a path to a higher valuation, possibly through an IPO. The speed of the round — nine months after the Series B — shows how quickly capital is moving into security categories tied to AI risk.
What's next: Whether Upwind pursues an IPO and how Datadog responds.
Sources: Upwind; Tech Funding News; Axios; The Next Web; The CyberWire; Globes; Business Insider; Bloomberg.
Casap Technologies Raises $56 Million Led by Base10 for AI-Driven Financial Services
Synchrony Financial and Experian joined as new investors, bringing Casap's total funding to $90 million.
What happened: Casap Technologies raised $56 million in a round led by Base10 Partners on October 28, with participation from new investors Synchrony Financial and Experian and returning investors Emergence Equity Management and Lightspeed Management. The company has raised $90 million in total funding and issued convertible preferred stock in the transaction. Casap's specific product focus was not disclosed in the filing.
Key numbers/companies: Casap Technologies · $56 million · Base10 Partners · Synchrony Financial · Experian · Emergence · Lightspeed · $90 million total.
Why it matters: The participation of Synchrony and Experian — a major consumer lender and a credit bureau — suggests Casap is building infrastructure for financial data or credit workflows. Strategic investors from financial services often signal a distribution partnership alongside the capital.
What's next: Whether Casap discloses its product and how the strategic investors integrate it.
Sources: MarketScreener; S&P Capital IQ.
Intel CEO Says He Has Discussed Potential Cooperation With AMD
Lip-Bu Tan did not specify the direction, but reports suggest AMD is evaluating Intel's 14A process node, with packaging or software also possible.
What happened: Intel CEO Lip-Bu Tan said at an industry event that he has spoken with AMD CEO Lisa Su about potential areas of cooperation, but did not specify the direction, and neither company has made an announcement, according to IT Times. Reports have suggested AMD is evaluating Intel's 14A process node, leading to speculation that foundry could be one area, though packaging, software or other areas are also possible. Tan also said Intel must regain CPU leadership and customize products for customers, acknowledging the company had been "too proud" to do so in the past. He listed specialty chips, co-packaged optics, physical AI and advanced packaging as potential growth areas, hoping two or three of them each eventually contribute about 10% of revenue. Intel's 18A is in mass production, the 0.5 version of the 14A design kit has been released, and the 0.9 and 1.0 production versions will follow.
Key numbers/companies: Intel · AMD · Lip-Bu Tan · Lisa Su · 14A · 18A · co-packaged optics · physical AI.
Why it matters: Any cooperation between Intel and AMD would be remarkable given their decades-long x86 rivalry. If AMD were to use Intel's 14A process for some products, it would validate Intel's foundry ambitions and give Intel a marquee external customer. Alternatively, cooperation on packaging or software standards could be a defensive move against Nvidia's CUDA ecosystem.
What's next: Whether the talks produce a formal agreement and what area it covers.
Sources: IT Times.
Also in the News
Anthropic opens IDC Quanta in Claude: Anthropic announced that its IDC Quanta feature is now available in Claude to customers of International Data Corporation (IDC), according to CLS.
Alphabet expands AI Mode ads internationally: An Alphabet executive said the company is expanding advertising in AI Mode to international markets.
Plato raises $16 million Series A: AI training environment company Plato completed a $16 million Series A led by Nava Ventures, bringing total funding to $19 million, according to ChainCatcher.
Live2.ai raises $13.7 million pre-Series B: Bengaluru-based AI marketing SaaS startup Live2.ai secured a pre-Series B round led by IvyCap Ventures, according to StartupReader.
EU AI Act enforcement escalates: The European Commission's AI Office has issued its first formal Requests for Information to general-purpose AI model providers, and opened a consultation on draft penalty proceedings rules on October 12 that runs until November 9, according to Reed Smith and the Cloud Security Alliance.
Meta stock falls for fifth day: Meta shares fell 1.2% to $612.88 and have now dropped more than 20% from their all-time high, according to FinScope.
Why It Matters
SK hynix's results settle the "memory peak" debate — for now. An 80% operating margin and a declaration that shortages last until 2030 is as strong a statement as a supplier can make. The 100 trillion won shareholder return signals that management believes the cash flow is durable. Samsung's earnings will show whether this is an industry-wide upcycle or an HBM-specific windfall.
TSMC's packaging price hike is the clearest sign yet of where AI supply chain power sits. Packaging was once a low-margin afterthought. Now it is the bottleneck, and TSMC is pricing accordingly. The 10–20% increase will raise costs for Nvidia, AMD and Broadcom, and those costs will flow to hyperscalers and AI labs.
OpenAI buying Google TPUs would be a strategic shift, not just a procurement decision. It would reduce OpenAI's dependence on Nvidia, validate Google's merchant silicon strategy, and give Google a major AI lab as a reference customer. For Nvidia, it is another sign that its largest customers are hedging.
Korea's financial hack wave is a state-level crisis. Sixteen institutions, a crypto exchange, a brokerage and an asset manager — with suspected North Korean IPs — is not a series of isolated incidents. The Blue House's emergency meeting and real-time information sharing are appropriate, but the breach of 38,490 Daishin customers shows that smaller institutions remain the weakest link.
Microsoft's Azure acceleration is the strongest evidence yet that AI spending is monetizing. Azure grew 48%, faster than the prior quarter, and Microsoft disclosed the dollar figure for the first time. That transparency will make it harder for competitors to hide behind percentage growth.
Upwind's $3.8 billion valuation shows security is still a growth market. Rejecting a $4 billion offer from Datadog is a bold statement, but revenue quadrupling in a year gives the company leverage. The round also confirms that investors see AI-native security as a durable category.
The CODEW Take
SK hynix just told the market that the memory shortage is structural, not cyclical. An 80% operating margin is not a cyclical peak — it is evidence of a structural supply-demand imbalance that management says will last until 2030. The company has locked in more than half its capacity through 2028 and effectively sold out HBM through 2029. If SK hynix is right, the "peak memory" thesis is dead. If it is wrong, the 100 trillion won shareholder return will look like a mistake. Either way, the company is betting its balance sheet on the durability of AI demand.
TSMC's packaging price hike is the most important supply chain development of the week. The AI industry has spent two years worrying about wafer capacity. The real bottleneck is packaging, and TSMC controls it. A 20% price increase on CoWoS is a tax on every AI accelerator that ships. Customers will pay it because they have no alternative at scale. This is what pricing power looks like.
OpenAI buying Google TPUs would be the most consequential chip deal since the OpenAI-Microsoft partnership. It would give OpenAI a second source of compute, reduce Nvidia's leverage, and validate Google's decade-long investment in TPUs. The fact that neither company has confirmed the report is a reminder that in AI, procurement rumors move markets before contracts are signed.
Korea's financial sector is under coordinated attack, and the response needs to match the threat. Sixteen institutions breached, 38,490 customer records exposed at a single brokerage, and suspected North Korean IPs — this is not a compliance problem, it is a national security problem. The Blue House's real-time information sharing is a start, but smaller financial firms need mandatory security baselines, not voluntary guidance.
Google's Carbon model is a reminder that the model race is still accelerating. Pichai says Carbon outperforms Gemini 4 Argon, and launching it first to cybersecurity partners is a smart way to build trust in high-stakes workflows before general release. If Carbon delivers on its promise, it gives Google a credible answer to GPT-6.1 Terra and Anthropic's next model.
What to Watch
- Samsung Q3 earnings: Whether the memory upcycle is broad-based or concentrated in SK hynix's HBM franchise.
- TSMC packaging price confirmation: Whether TSMC formally confirms the 10–20% CoWoS increase on its next earnings call.
- OpenAI-Google TPU deal: Whether the reported plan is confirmed and how Nvidia responds.
- Google Carbon availability: When the model moves beyond cybersecurity partners and how it benchmarks against GPT-6.1 Terra.
- Korea financial hack attribution: Whether North Korean involvement is confirmed and how regulators tighten rules for smaller firms.
- GMO replacement site: Whether the attackers stand up a new extortion site and how many customers file relief claims.
- Upwind IPO path: Whether the company pursues a listing and how Datadog responds to the rejected offer.
- Intel-AMD cooperation: Whether the talks produce a formal agreement on foundry, packaging or software.
- Microsoft Azure sustainability: Whether 48% growth holds as AI capacity comes online.
- EU AI Act penalty rules: The consultation on draft procedural rules closes November 9.
Editorial Note
The CODEW Daily News Coverage tracks the most important technology developments of the day, with a focus on AI, enterprise software, cloud computing, semiconductors, cybersecurity, startups, and digital infrastructure. This edition is a pure news aggregation and coverage page — what happened — while the Daily Tech Briefing provides the deeper strategic interpretation.
Coverage is based on company announcements, public disclosures, industry reporting, and other publicly available information. Reported figures and sourced-but-unconfirmed details are noted as such.
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