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Donald Trump and Elon Musk holding the National Medal of Science; still from the official White House award video, 8 October 2026

SCIENCE: A NEW GOLDEN AGE

Turning science fiction into reality

In one field after another, his genius and determination have made science fiction into reality.

Donald Trump · 8 October 2026
Remarks at the “Science: A New Golden Age” summit, on Elon Musk

Transcript and video White House release Image source

1 dayBCI: a mouse learns to press a key
(animal study)
80%AI gaming platform gross margin
1.6TSingle-node RL post-training
(8×B200)
Thousand-qubit classneutral-atom full system
defect-free physical qubits
ReusableStainless-steel LOX-methane heavy rocket
(“chopstick” catch recovery)
Megawatt-classSST solid-state transformer
rebuilding the AIDC power stack
Glacier site theme image · black-hole singularity

G Club (Glacier Club) Professional · Low-key · Lively · Disciplined

KANGPENG CAPITAL · G CLUB

AI4S GroupGlacier Double12 Hard-Tech Innovation Festival

Select rigorously for certainty. Embrace the new paradigm.
Welcoming the great age of AI/SI and interstellar space

Glacier is a fact, not just a company. The joy of innovation comes from sharing it together.
庚辛,是事实,不只是公司。科创的快乐,来自大家一起分享交流。

The world has many trade shows, but only one CES. There will be many innovation festivals on 12.12, and Glacier’s aims to be a CES for hard tech: an expo built for real results.
世界上有很多展会,但只有一个 CES。12.12 会有很多科创节,庚辛的科创节想做成科创版的 CES:一场讲实效的展会。

Glacier mottos
  • Rise with the nation's momentum. Share the nation's dream.
  • Squeeze out the bubble. Select for certainty. Embrace the new paradigm.
  • Every task on a list. Every loop closed. A named lead for every team. Performance judged on the front line.
  • Right heart, right mind. Blessings follow.
  • Care, patience, love, unity, tolerance.
  • Eat what you hunt.
  • The long war cannot be rushed. The decisive war cannot be delayed.
  • Stay grounded. Stay human. Stay humble.
  • Take charge of your own fate. Push the limits of growth.
  • The world is the totality of facts, not of things. — Wittgenstein
  • We supply the ammunition. Investors pull the trigger themselves.
  • Lead by example. Create for others.
  • Train the sword with full focus. Nothing beats speed.

October 2026 · Industry research & observations

The market is not short of good projects, nor of new paradigms.
It is short of projects that make people believe in fairy tales again.
In the second half of the year, only two ends of the market remain:the earliest round, and the most certain round.
AI4S Group · 8 projects: non-invasive brain-computer interface, AI game generation and distribution, foundation-model fusion, embodied brain, neutral-atom quantum computing, reusable liquid rocket, satellite communication and computing network, AIDC power.
庚辛康鹏资本 KANGPENG CAPITAL
G Club
RESEARCH
2026.10

Glacier Double12 Hard-Tech Innovation Festival

Quality Engineering

1212 sets no transaction-value target. Glacier strictly limits the number of new projects it takes on, to protect service quality. Transaction value and project count are two different constraints. We assess our work by post-investment satisfaction, founder satisfaction, project returns and the extent of our own capital commitment. Quality is the standard by which we judge and position ourselves, and whether we exceed expectations matters. Everyone owns quality engineering.

KEYS is the capital-market parallel computing platform and programming model from the Pyramid Institute. Defined by the whole Glacier team and continually upgraded, it organises price bands, transaction structures, timing and the Golden Window into relationships that can be executed and tested. We hope it will become the CUDA of capital markets.

Nurturing all things, bringing goodwill across the seas.

AI FOR SCIENCE / SIMULATION · SCIENCE · INFRA

AI4S Group

8 projects · each also stays in its home group · Closing 12.12

AI for Science: from simulated brains and simulated worlds to quantum, launch capacity and power.

Our view of this groupFour layers: simulation on top, science in the middle, infra at the base, and physical AI where it all lands. Bringing the brain, the world and the body into the computer is the most valuable layer of AI4S.

SourceThe Pyramid Institute, Two Months Before Christmas: Our View on AI4S (public edition).

08 /

Non-invasive brain-computer interfaceNon-invasive brain-computer interface · academician-level scientific advisers

Brain-computer interface · BRAIN WORLD MODEL Select for certainty · Embrace the new paradigm
AI4SBrain-computer interfaceOptical neuromodulationWorld modelHealthcare

“The OpenAI of brain-computer interfaces.”

SINGLE-NEURON MODEL × REAL-WORLD DATA

An academician-level scientific team models how the brain works and builds a non-invasive brain-computer interface, aiming for neuromodulation effects close to invasive methods.

Mechanistic modelling at the single-neuron level × an ecosystem for collecting high-quality real-world data.

Whole-brain mechanistic modelling is among the most advanced in the world, moving from a digital fruit fly to a digital mouse: from the “GPT-2” of BCI towards its “GPT-3”.

Understand the brain, then modulate it
From single neurons to multi-region networks, predicting changes in brain state and providing the model base for personalised neuromodulation.
A read-write-feedback loop
Recognise the brain state → apply the modulation parameters → the result becomes a new sample. Research models, devices and real-world data form a closed loop.
Non-invasive BCI · academician-level scientific advisers · illustration 1 (blurred)
Non-invasive BCI · academician-level scientific advisers · illustration 2 (blurred)
Animal validation | optical neuromodulation markedly shortens skill learning

Skill-training time is markedly shorter; after the light stimulus is removed, the mice can still reproduce the skill on a given cue.

Non-invasive BCI · academician-level scientific advisers · illustration 3 (blurred)
Human decoding | lowering the bar for building vertical tasks

A foundation model assists the development of human decoding tasks; performance across devices and populations still needs unified testing.

Non-invasive BCI · academician-level scientific advisers · illustration 4 (blurred)
Clinical translation | non-invasive disease modulation

An exploratory clinical study in Parkinson's disease is planned, run through a provincial-level BCI clinical-trial base.

Brain science × models × engineering
An academician serves as scientific adviser; a team spanning brain science and engineering connects mechanism research, models and modulation devices.

09 /

The Roblox + AppLovin of the AI eraAI game generation and distribution platform

AI gaming · Generation × Distribution Select for certainty · Embrace the new paradigm
AI4SAI gamingAI applicationsContent distribution

“What matters is becoming the platform, becoming the entry point.”

AI GAMING · GENERATION × DISTRIBUTION

Redefining the games industry with AI: a model for end-to-end game generation (planner + simulator).

The founder has built a mass-market consumer product from zero to one, with full growth experience across large-scale consumer products and content platforms.

80%
gross margin
Commercialisation begins2026
AI game generation and distribution platform · illustration 1 (blurred)
AI game generation and distribution platform · illustration 2 (blurred)
AI game generation and distribution platform · illustration 3 (blurred)
AI game generation and distribution platform · illustration 4 (blurred)
  • Moat: in-house structured data on rules, physics and interaction, combined with understanding and generation capabilities.
  • Platform: from game generation to content distribution and monetisation, connecting creators with players.

10 /

Advanced packaging for foundation modelsFoundation-model fusion · routing and aggregation

Foundation models · INFINITE MODELS Select for certainty · Embrace the new paradigm
AI4SFoundation modelModel routingPost-training

“It stands above every single model. Whatever new model appears, it stays on top.” This is advanced packaging for the foundation-model world.

OVER THE TOP

Technology is the entry point. It was when DeepSeek took off, and it still is now that Kimi has.

Intelligence will keep getting bigger. Smaller is not better; it grows bigger by changing lanes.

Routing does globally optimal scheduling; aggregation makes capabilities complement one another. From Infinite Parameters to Infinite Models, making every DeepSeek in the world friendlier, cheaper and more efficient.

Foundation-model fusion · routing and aggregation · illustration 1 (blurred)
Foundation-model fusion · routing and aggregation · illustration 2 (blurred)
Foundation-model fusion · routing and aggregation · illustration 3 (blurred)
Foundation-model fusion · routing and aggregation · illustration 4 (blurred)
  • Founder: holds two doctorates from top overseas universities, currently a faculty member running a university lab.
  • Training system: stable post-training of a 1.6T model on a single 8×B200 node, with end-to-end RL validated on Kimi-K2.6 and DeepSeek V4; the low-level kernels are written in-house.

14 /

A generalising brain for embodied intelligenceA generalising brain for embodied intelligence

Embodied · PHYSICAL AGI Select for certainty · Embrace the new paradigm
AI4SEmbodied brainEmbodied intelligenceWorld model

“Representation gives the prior for interpolation + online reasoning gives the ability to extrapolate = generalisation.”

A “generalising brain” that pre-trains perception, decision and action as separate modules and fuses them with a world model for online reasoning.

“All generalisation comes from representation”; “RL is a first-class citizen of pre-training”. The ceiling depends on quality; generalisation depends on diversity.

The goal: “Like a new hire on the factory floor. Show it a handful of times, hand it a manual, and it can start work.”

Generalising embodied brain · illustration 1 (blurred)
Generalising embodied brain · illustration 2 (blurred)
Generalising embodied brain · illustration 3 (blurred)
Generalising embodied brain · illustration 4 (blurred)
Generalising embodied brain · illustration 5 (blurred)
  • Team: the founder previously led autonomous driving at a top company as chief scientist and CTO; the co-founder is a university researcher with a long record in human motion capture, who argues for modular design plus large-scale reinforcement learning.
  • Engineering validation: validated at the level of autonomous driving; completed driverless heavy-truck operations on public roads, with no safety driver on board and no remote control.
  • Efficiency: the driving model was trained by reinforcement learning on 15,000 hours of data and outputs wheel torque and steering angle directly; simulation runs at tens of thousands of times real time.

07 /

Neutral-atom quantum computingNeutral-atom quantum computer, full system

Quantum · Full system Select for certainty · Embrace the new paradigm
AI4SQuantum computingNeutral atomFull system

The biggest pain in quantum is that investors cannot understand it or verify it. This company pulls back the curtain and lets investors see the full machine with their own eyes.

NEUTRAL ATOM

Engineering, done pragmatically.

Has released a full-stack integrated machine with thousand-qubit-class defect-free physical qubits, using a “storage–entanglement” zoned architecture.

Has won commercial orders, with several industrial players on board.

Neutral-atom quantum computer, full system · illustration 1 (blurred)
Neutral-atom quantum computer, full system · illustration 2 (blurred)
  • Team: the founder has a top overseas physics background and built the full system with self-raised funding.
  • Position: a Chinese full-stack maker in the first tier of commercial neutral-atom computing worldwide, able to deliver full systems above a thousand qubits.

05 /

Stainless-steel LOX-methane heavy rocketReusable liquid rocket · an engineering-led founding team

Commercial space 2.0 Select for certainty · Embrace the new paradigm
AI4SCommercial spaceReusable rocketLOX-methane

SpaceX's valuation is back above US$2 trillion (October 2026).
“The first principle of rockets: with launch success assured, make each kilogram as cheap as it can possibly be.”

LINK THE UNIVERSE

The founding team comes from the core development system of the national heavy-lift launch vehicle.
From day one the whole rocket is built to the Starship end-state architecture: stainless steel + LOX-methane + “chopstick” catch recovery.

Demand estimate: the Guowang and Yuanxin constellations create demand for more than 300 launches a year, while private rocket makers together can build fewer than 30. Supply creates the market.

Reusable liquid rocket · engineering-led founding team · illustration 1 (blurred)
Reusable liquid rocket · engineering-led founding team · illustration 2 (blurred)
Reusable liquid rocket · engineering-led founding team · illustration 3 (blurred)
  • Team: the founder and co-founder both come from the core development system of the national heavy-lift launch vehicle, with experience in both propulsion and overall vehicle design.
  • Cost estimate: material at about ¥20k versus ¥70k per tonne, material utilisation 90% versus 10%; a whole rocket at about ¥120m versus ¥170m. Chopstick recovery splits one 100-point problem into three 90-point problems.
  • Industry support: leading institutions and industrial players keep adding capital, with upstream and downstream partners moving in step.

06 /

Communication and computing: building a space-based backboneSatellite communication and computing network

SPACE INFRA · Communication and computing Select for certainty · Embrace the new paradigm
AI4SCommercial spaceSatellite networkOn-orbit computingGoing global

SATELLITE COMMUNICATION & COMPUTING

Plans a satellite communication and computing network that gives overseas energy, mining, infrastructure and telecom customers high-bandwidth links and on-orbit computing, and provides relay services for low-Earth-orbit satellites.

Built on mature satellite-platform technology, with dual microwave and laser links.

  • Product: the first satellite is designed for communication, computing and storage, and relay. In-orbit service is validated first, then the network is built out in phases.
  • Stage: plans to launch the first batch of satellites in 2027, then build out the network in phases and begin commercial trials; large space-based compute nodes are the next direction.

03 /

The bottom layer of AI infraSST solid-state transformer · AIDC power

AI INFRA · Power Select for certainty · Embrace the new paradigm
AI4SAIDC powerSolid-state transformerPower electronicsAI Infra

SOLID-STATE TRANSFORMER

SST solid-state transformers, rebuilding the AIDC power stack for the megawatt era.

A team drawn intact from an international power-equipment giant, plus automotive-grade industrialisation capability, focused on power density and the cost curve.

A specialist investor with three years in AIDC rates the team “at least top three internationally”.

SST solid-state transformer · AIDC power · illustration 1 (blurred)
Image blurred

    Read the AI4S report →

    The Pyramid Institute · Two Months Before Christmas: Our View on AI4S (public edition)

    GLACIER · FISCAL YEAR III

    Glacier Fiscal Year III calendar, 2026 (7 Oct 2026 – 30 Jan 2027)

    Four months: October, November and December 2026, and January 2027. The season starts on 7 October, closes on 12 December (the Glacier Double12 Hard-Tech Innovation Festival, or Glacier 1212 Festival for short) and ends on 30 January.

    Fiscal Year I2026.2.20–4.30
    Fiscal Year II2026.5.6–9.22
    Fiscal Year III · current2026.10.7–2027.1.30
    Public holidayMake-up workdayTodayFiscal-year start / endClosing on 12.12ChristmasOutside the fiscal year
    October 2026FY III · MONTH 1
    MTWTFSS1Off2Off3Off4Off5Off6Off7Start8910Work111213141516171819202122232425262728293031
    November 2026FY III · MONTH 2
    MTWTFSS123456789101112131415161718192021222324252627282930
    December 2026FY III · MONTH 3
    MTWTFSS123456789101112Close13141516171819202122232425Christmas262728293031
    January 2027FY III · MONTH 4
    MTWTFSS1New Year's Day23456789101112131415161718192021222324252627282930Finale31

    Key dates

    Holiday source: General Office of the State Council, Notice on the 2026 Public Holiday Arrangements (4 November 2025, full text at Xinhua) ↗.