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hot_img SemiAnalysis: Gemini has exited the frontier competition, and GCP is accelerating the sale of TPUs to third parties for profit

The research organization SemiAnalysis released an analysis indicating that Google DeepMind is no longer among the leading AI laboratories. A week prior, DeepMind co-founder Demis Hassabis stepped back from daily operations, and key members such as Google Chief Scientist Jeff Dean and Gemini co-lead Oriol Vinyals left to establish a new lab called Discovery Loop. The analysis suggests that the long-term struggle within Google over computing power allocation between Gemini and GCP has concluded with GCP emerging victorious.SemiAnalysis stated that Gemini 3.5 Pro has been canceled, and Gemini 3.6 Flash's performance is inferior to that of leading Chinese open-source models and Grok 4.5. Currently, Gemini has fallen to the 8th or 9th position in the large model rankings. Meanwhile, GCP is selling a large number of TPUs to competitors like Anthropic, having secured long-term leasing and sales contracts for hundreds of thousands of TPUs over the past nine months. The Tokenomics model estimates that Gemini's own ARR is about $12 billion, while GCP's third-party AI cloud service revenue is expected to exceed $73 billion by the end of 2027, with TPU system sales contributing an additional over $120 billion. GCP's latest quarterly growth rate is 82%, and it is expected to accelerate to over 100% by 2027 due to TPU system sales, contributing approximately $3 to Google's earnings per share.

a16z Crypto interprets leading investment in Morpho logic: On-chain lending is the next frontier for credit

a16z Crypto elaborated on why it co-led a $175 million financing round for the decentralized lending protocol Morpho in partnership with Paradigm and Ribbit. a16z views on-chain lending as "the next frontier of credit" and a key technological node for human prosperity, believing that a blockchain-based open credit network can reduce infrastructure costs, create a more competitive credit market, and provide broader channels for capital and yield acquisition.a16z stated that when they first engaged with the Morpho team in 2022, founder Paul Frambot was still in university but had already gathered nearly all of France's top blockchain talent; the team's pioneering on-chain lending optimizer achieved a Pareto improvement in interest rates by coordinating peer-to-peer loans on top of the underlying peer-to-pool protocol, and the project symbolizes a transformation for the global financial system.In 2024, Morpho launched the Morpho Blue protocol, focusing on over-collateralized loans of crypto assets with floating interest rates and variable terms. Now, Morpho is moving towards a larger vision—becoming the open credit network of the internet. The next product, Morpho Midnight, will support fixed-rate term on-chain loans collateralized by traditional assets, equipped with customizable KYC tools. More importantly, clients can initiate their own lending markets based on Morpho's underlying infrastructure while sharing the network's liquidity and network effects.a16z believes that we are currently at a critical window for disrupting the traditional credit system and building a more open and efficient credit network.

OnGreen Charts RWA Green Frontier: From Consensus HK to MENA Expansion with BlueRock Capital

At Consensus Hong Kong 2026, where institutional-grade RWA tokenization took center stage, Ongreen emerged with dual validation: strategic investment from Dubai-based BlueRock Capital Limited and high-level discussions between CEO Eric Ng and industry leaders. BlueRock Capital Limited, a DFSA-regulated venture capital firm, will provide potential staged funding with the first tranche of up to US$1 million, as well as strategic advisory support, regional market access, and partner networks for the launch of Ongreen's Oasis Journey ecosystem across MENA. OnGreen combines green tech and Web3 infrastructure to deliver: • Desertification control & green construction – Income-generating RWAs • AI-optimised carbon verification – Proprietary AI BIM turns recurring carbon credits into liquid, yield-bearing digital assets • Unified carbon credit registry – Immutable, institution-grade, setting a new global standard • Green asset exchange – Deep liquidity for tokenised environmental assets “Oasis Journey is production-ready infrastructure—land restoration, AI-verified carbon, on-chain registry. We are turning desert into a verified asset class,” said Eric Ng, CEO of Ongreen. Sher Ali, CEO of BlueRock Capital, added: “The Middle East’s US$186 billion green transformation meets global RWA tokenization. This is impact backed by code and capital.” With pilot projects accelerating in Saudi Arabia and the UAE, Ongreen is positioned as the bridge protocol between Asia's regulatory clarity and MENA's capital deployment.
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