Terafab will be built in Grimes County, Texas
In April, we broke ground on our research fab on the North Campus of Giga Texas – the precursor to Terafab.
Both Tesla & SpaceX will need far more chips than current & future global production can supply.
This is why we're building the largest chip manufacturing facility ever, with the goal of producing over 1 terawatt of compute per year
The future is built in Texas
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7 days of unlimited Seedance 2.5 for everyone joining today.
The most realistic and production-ready video model. 7 DAYS of ZERO credit cost to generate.
Deeper shadows, better acting performances, next-level physics, native voice generation.
7-day unlimited access starts August 7.
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7 days of unlimited Seedance 2.5 on Higgsfield.
The most realistic and production-ready video model. Now we offer generations at ZERO credit cost for 7 DAYS.
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7-day unlimited access starts on August 7.
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开发系统最极致高效的Agents.md,没有之一:
# AGENTS.md
## Core Principles
- Choose the simplest implementation that fully satisfies the current requirements. Avoid unnecessary abstraction, configuration, indirection, or speculative extensibility.
- Make the smallest necessary change that fixes the root cause. Do not refactor unrelated modules or change strategy semantics unless explicitly requested.
- Grow the system in layers. Start from the smallest working end-to-end version and add new capabilities incrementally. Never replace a working system with unfinished complexity.
- Reuse existing project components before creating new ones. Prefer extending proven modules over introducing parallel implementations.
- Prefer well-maintained libraries when they reduce overall complexity or improve reliability. Do not reimplement common functionality without a clear benefit.
- Keep components modular with clearly defined responsibilities. Avoid unnecessary coupling between strategy logic, execution, accounting, replay, and infrastructure.
- Design for long-term maintainability once a feature or strategy has been validated. Do not over-engineer speculative ideas before evidence exists.
---
## Strategy Development
- Validate hypotheses with historical replay before introducing forward-only logic whenever historical validation is possible.
- Every trading strategy must progress through Replay → Shadow → Canary → Live. Do not skip validation stages.
- Base design decisions on measurable evidence rather than intuition. Optimize only after demonstrating that an edge exists.
- Treat every strategy as an independent contract. Do not silently alter frozen behavior without explicit authorization.
---
## Existing Systems
- Do not break running Shadow or Live systems for unrelated work.
- Preserve compatibility only when required by active production or validation workflows. Otherwise, remove obsolete code instead of accumulating compatibility layers.
- Reuse existing infrastructure whenever possible, including replay engines, accounting, execution, wallet management, order book handling, logging, monitoring, and daemon frameworks.
---
## Engineering Standards
- Prefer deterministic behavior over hidden automation.
- Fail loudly when assumptions are violated. Do not silently ignore errors or fall back to unexpected behavior.
- Keep configuration minimal. Introduce new configuration only when behavior genuinely needs to vary.
- Remove dead code instead of leaving unused paths behind.
- Write code that is easy to inspect, replay, test, and reason about.
- Keep implementation consistent with existing project architecture unless an architectural change is explicitly requested.
---
## Scope Discipline
- Implement only the requested scope.
- Do not introduce unrelated optimizations, redesigns, migrations, or feature expansions.
- Non-blocking findings outside the requested scope may be noted separately but must not be merged into the current task.
- Consider a task complete once its agreed acceptance criteria are satisfied. Treat subsequent improvements as separate work items.
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"La Grève" d’Ayn Rand raconte l’effondrement d’un pays dans lequel ceux qui produisent sont progressivement punis pour leur réussite.
Les entreprises ferment, les infrastructures se dégradent, les pénuries apparaissent. Mais à chaque crise, l’État répond par davantage de contrôles, de contraintes et de redistribution.
Les entreprises inefficaces sont protégées. Les plus performantes sont accusées de nuire à l’intérêt général. Les concurrents incapables d’innover utilisent le pouvoir politique pour ralentir ceux qui réussissent.
Dagny Taggart dirige une compagnie ferroviaire. Elle passe son temps à réparer les erreurs de son frère, des bureaucrates et des dirigeants incapables.
C’est l’une des idées centrales du livre : un système défaillant peut survivre longtemps grâce à quelques personnes compétentes qui compensent tout en silence.
Hank Rearden, lui, invente un métal révolutionnaire. Au lieu d’être récompensé, il devient une cible. On veut limiter sa production, récupérer son invention et lui faire honte de sa réussite.
Peu à peu, les meilleurs industriels, ingénieurs et inventeurs disparaissent.
Derrière ces disparitions se trouve John Galt. Il a compris que le système ne tient que parce que ceux qu’il exploite continuent malgré tout à le faire fonctionner.
Il organise donc une grève particulière : non pas celle des ouvriers, mais celle de l’intelligence, de la compétence et de la responsabilité.
Les producteurs ne sabotent rien. Ils cessent simplement de réparer, d’inventer et de porter un monde qui les condamne tout en dépendant entièrement d’eux.
Le titre original, « Atlas Shrugged », résume le livre.
Atlas porte le monde sur ses épaules.
Ayn Rand pose une question : que se passe-t-il si Atlas décide de hausser les épaules et de laisser tomber le monde ?
Le pouvoir finit par vouloir tout figer : les entreprises ne peuvent plus fermer, les salariés ne peuvent plus partir, les prix sont bloqués, les brevets saisis.
Mais on peut saisir une usine sans savoir la faire fonctionner.
On peut confisquer une invention sans être capable d’en créer une nouvelle.
On peut imposer l’obéissance. On ne peut pas imposer l’intelligence.
C’est ce que raconte "La Grève".
Une société peut longtemps mépriser ceux qui la font fonctionner.
Mais elle ne peut pas survivre lorsqu’ils décident de ne plus la porter.
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AI模型评分都是被专项攻坚创造出来的,于是我对比了Fable5,Grok4.5, Kimi K3针对同一个交易系统审计结果进行了对比。
先说结论:
Fable5:最适合作为系统级主审核模型
Kimi:最适合作为代码缺陷与一致性专项审核模型
Grok:最适合作为代码梳理和方案发散模型,不适合单独决定策略修改
最佳组合:Fable5全面审核+Grok 4.5代码梳理+K3代码审核
具体细节:
1. Fable5:系统级判断能力最强
Fable5 最大的优势不是代码读得比另外两个模型更多,而是它能把:
代码规则;
sizing snapshot;
intent ledger;
实际 block 统计;
当前资产 headroom;
SELL/REDEEM 回流路径;
放进同一个因果框架。
它使用了几个非常关键的实盘指标:
ADD 近 7 天约占新增资金 43%;
84% 资金已经部署;
ETH、SOL、XRP headroom 为 0;
近 40 个周期中主要阻塞是:blocked_capital_efficiency=47
blocked_asset_cap=28
deployment cap=0
runway=0
这让它能够区分:
“某个机制理论上可能限制资金”
和
“当前实盘真正正在限制资金的机制”。
最终它得出:
ADD 对资金流向重要,但当前周转主因在回收端、资产 cap 和效率过滤,不在 ADD 准入本身。
这是三个模型中最接近生产系统审核要求的判断。
弱点
Fable5 仍有一些过度推断:
把 ADD 描述为让资金“锁得更久”,实际上 ADD 的剩余 TTE 通常比 ENTRY 短;
把超 cap 资产总持仓约 $382 说成可以“直接解锁 $382”,没有区分总持仓、超额部分和可成交部分;
把模型中的 redeem_lag_days=2 一度当作实际回款延迟;
“$5 仓位几乎不受每美元每日利润门约束”的推理不正确,因为该指标已经按资金归一化;
2-lot 最低 ENTRY 建议可能系统性损失覆盖率。
因此,Fable5 的系统方向判断最好,但具体数字和金融指标仍需二次校验。
最适合的角色
PRIMARY_SYSTEM_REVIEWER
LIVE_OPERATIONAL_DIAGNOSIS
CHANGE_PRIORITY_DECISION
CROSS_MODULE_ROOT_CAUSE_ANALYSIS
2. Kimi:代码缺陷侦测能力最强
Kimi 对代码结构的还原比较准确:
固定 ADD 次数和 interval 已退役;
ADD 采用 target-gap 模型;
ENTRY 60%,ADD 补到 100%;
allocator 是最终数量权威;
style 仅作诊断;
现金、集中度、shock、深度共同限制订单。
更重要的是,Kimi 找出了其他两个模型没有明确指出的具体问题:
shared_deployable_pool()
读取 account_snap["capital"]["deployable_cash"]
但该字段可能没有实际写入
→ 回退到 free_cash
→ 策略层与 allocator 层资金口径可能不一致
它还发现了:
合同写 debounce 60 秒,代码/配置为 30 秒;
注释周期 16 分钟,实际 loop 600 秒。
这些是典型的静态审核、字段追踪和合同一致性检查优势。
弱点
Kimi 在资本效率和交易语义上的推理弱于它的代码检查能力。
典型错误是:
ADD 价格更高,所以边际 edge/day 必然更差。
这忽略了剩余持有时间也缩短。更高 ask 并不必然意味着更低 edge/day。
它还认为:
60/40 会让剩余资金长期闲置;
提高 entry share 会改善周转;
CONFIRMATION_NO 应收紧;
增加单市场软 cap 会改善组合周转。
这些结论缺少真实候选竞争、实际 block attribution 和反事实分配数据支持。
最适合的角色
STATIC_CODE_AUDITOR
SCHEMA_AND_FIELD_FLOW_CHECKER
CONTRACT_IMPLEMENTATION_DIFF
LOCALIZED_BUG_DISCOVERY
Kimi 很适合回答:
“代码是否存在字段没有写入、默认值回退、文档与实现不一致、某个 gate 实际是否生效?”
但不适合单独回答:
“应该如何改变交易策略和资本分配?”
3. Grok:代码梳理最完整,但最容易过度设计
Grok 对整个 ADD 路径的整理最详尽:
各层准入条件;
risk latch;
REDUCE reentry cooldown;
价格带;
fingerprint;
emergency cap;
market target;
ENTRY/ADD gap;
allocator 的现金、集中度、shock 和深度约束;
ADD 与 ENTRY 的评分和 continuity;
SELL/REDEEM 对现金回收的影响。
它对当前代码执行模型的概括非常清楚:
能不能加由 headroom 决定;加多少由 target gap 离散为 lot;ADD style 只是解释标签。
因此,在“快速理解一个陌生复杂系统”方面,Grok 表现很好。
弱点
Grok 最大的问题是:
从“发现一个可能的机制副作用”快速跳到“建议修改策略”。
它提出了大量未经实盘证明的改动:
TIME_TOPUP 冷却;
ADD 1.5 倍 edge/day 门槛;
ask≥0.97 限制为 1 lot;
降低 peak target;
提高 entry share;
单次仅补部分 gap;
弱化 continuity;
降低 TTE confirmation 权重。
这些建议表面上都很合理,但存在三个问题:
没有先证明这些机制实际造成了损失;
没有量化被 ADD 挤出的 ENTRY 是否更优;
可能重新引入此前已经修复的低 ADD recall 和 leader fidelity 偏差。
Grok很擅长生成完整优化空间,但容易把:
POSSIBLE SIDE EFFECT
升级成:
CONFIRMED ROOT CAUSE
再进一步升级成:
SHOULD CHANGE PRODUCTION LOGIC
这是生产交易系统审核中最危险的倾向。
最适合的角色
SYSTEM_MAPPING
CODE_AND_CONFIG_EXPLANATION
HYPOTHESIS_GENERATION
DESIGN_OPTION_ENUMERATION
不适合作为唯一的:
PRODUCTION_CHANGE_APPROVER
ROOT_CAUSE_FINAL_AUTHORITY
STRATEGY_SEMANTICS_GATEKEEPER
三个模型的典型思维模式
Grok
发现机制
→ 推演可能副作用
→ 生成多种优化
→ 倾向建议修改
优点:覆盖广、思路多。
风险:过度设计、假设升级过快。
Kimi
追踪代码和字段
→ 找实现不一致
→ 找局部缺陷
→ 尝试从缺陷推导策略改进
优点:代码问题定位强。
风险:局部正确不等于系统结论正确。
Fable5
理解代码
→ 读取运行数据
→ 找实际 binding constraint
→ 区分主因和次因
→ 按实盘收益排序
优点:最接近生产运营思维。
风险:仍会在个别指标含义和金额口径上过度断言。
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📢Meet Qwen3.8-Max — our most capable model to date.
Next week, the open weights of Qwen3.8-Max will be released, and Qwen3.8-27B is also going open-weights to meet you all!🎉
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- Autonomous coding: 10+ days of self-evolving development, from empty folder to production without hand-holding, complete project trace in the GitHub:
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- Native multimodal intelligence: Vision isn't just input — it's a continuous feedback loop for planning, execution, and self-correction.
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Implicit Caching: $0.25 / M tokens
Start building with Qwen3.8-Max! 🚀
📖 Blog:
✅ Qwen Studio:
⚡ API:
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800 million people were lifted out of extreme poverty in China thanks to a little bit of capitalism.
Central planning doesn’t work. At least Deng Xiaoping saw Mao’s catastrophic blunders and understood that. Which is why when he took power, he ripped out the collectivized economy by the roots.
>let farmers work their own plots and sell what they grew instead of farming for the state (food production soared almost overnight)
>carved out Special Economic Zones like Shenzhen where foreign capital could operate under different rules than the rest of communist China
> poverty crashed from nearly 90% in 1981 to under 4% by 2016
On his Southern Tour in 1992, Deng told CCP officials “to get rich is glorious.”
He was right btw. And it is best done through private property and free markets.
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Software quality now depends on the constraints you set around your agents.
When humans manually wrote most of the code we could look at the code itself for signs of quality. Is it clean? Is it thoughtful? Is it fast? Can another engineer understand it? Does it have tests?
Agents can now generate more code than people can read. When code generation scales beyond review, quality - checks for one or more of correctness, maintainability, security, performance etc - increasingly has to live somewhere else.
It moves into the harness, environment and operating system around the agent.
This can be the tests and deterministic checks that decide what the system is allowed to do (amongst others). Your constraints are what may eventually enable loops of agents to deliver production software reliably. They can include unit tests, property tests, acceptance tests, mutation testing and quality metrics.
This back-pressure lets the system resist bad work before it becomes somebody elses problem.
Set your constraints. They decide whether the code your agents generate is good enough to ship.
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What 5 steps can help move AI from pilot to production?
Scaling #
AI# starts with clear workflows, governance, and measurable outcomes.
Learn more from Cisco EVP
@lizcentoni via
@WSJ CIO Journal:
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