error

July 24th, Sebastian Raedler, European Equity Strategy Director at Bank of America (BofA), recently issued a stark warning: The current stock market pricing logic is entirely based on the assumption that "everything is perfect." This extreme optimism has not only pushed market valuations to high levels but has also left investors' risk exposure completely unprotected.

Raedler pointed out that the market's expectations for key indicators such as profit margins and five-year forward earnings growth have reached historical highs. In stark contrast, the "risk premium" that measures market risk aversion has fallen to a 20-year low.

Raedler suggested that investors should decisively withdraw from overvalued, logically fragile cyclical sectors and instead look for those "high-quality defensive stocks" that have been overlooked by the market for a long time. He specifically mentioned the healthcare and consumer staples sectors.

July 24th, according to Onchain Lens monitoring, BlackRock's Bitcoin ETF deposited 3,126 bitcoins into Coinbase Prime in the past hour, worth $203 million.

July 24th, glassnode released Bitcoin options market data indicating that the Bitcoin put/call open interest ratio has dropped significantly from around 0.76 at the end of June to 0.52. This suggests that defensive positions are being unwound, while the BTC price remains stable around $67,000.

ATM ( Note: At-The-Money refers to options with a strike price closest to the current underlying asset price) implied volatility remains in a compressed state, with a 34.3% level for 1 week and 40.8% for 6 months. The term structure is upward sloping, indicating that short-term event risks are being underestimated by the market.

The short-term 25-delta skew has sharply fallen to around 4%, reflecting a reduced demand for downside hedges in the near term. However, the medium to long-term skew remains at a defensive premium level of 11-12%.

July 24th, the European Union (EU) has expanded sanctions against Russia, targeting the A7 cross-border payment network and its newly established African affiliate, as well as the A7A5 stablecoin used to circumvent sanctions.

The latest sanctions package extends the trading ban to 14 crypto-related platforms in countries such as Georgia, the UAE, Panama, and introduces a tool to enable a comprehensive ban on the use of crypto assets by Russia.

In addition to the digital asset measures, the EU has also imposed asset freezes and trading bans on 94 banks and major financial institutions, and extended the trading ban to an additional 33 Russian credit and financial institutions.

July 24th, according to Onchain Lens monitoring, a whale wallet deposited 8000 ETH to Binance after holding it for 8 months, worth $15.1 million.

July 24, Fang Xinghai, former Party Committee member and Vice Chairman of the China Securities Regulatory Commission, is suspected of serious disciplinary violations and is currently under disciplinary review and investigation by the Central Commission for Discipline Inspection and the National Supervisory Commission. (CCTV News)

According to PolyBeats monitoring, on the prediction market Polymarket, a savvy trader has wagered $4,700 on the question "Will the July monthly inflation rate increase by at least 0.1% compared to the previous month?" with an average buy probability of 69.5%. The current probability of "Yes" is 66.5%.

Trader 0x0ffcad49 has invested $4.7k, and the most profitable category in this market is "inflation," with a net profit of $63.5k. Out of 226 settled trades in this category, the trader has a win rate of 132/226 (58%), with 54 trades where the buy price was below $0.8 and the sell price was above $0.95. Within a similar cost range ($0.601-$0.75), the median historical investment amount for the trader is $258, and this current investment is 18.4 times that median amount.

The U.S. Bureau of Labor Statistics will release the July Consumer Price Index on August 12 at 8:30 AM ET. The overall CPI in June declined by 0.4%. If the July CPI rises by at least 0.1%, it would indicate a return to monthly inflation in the U.S., resulting in a significant rebound of at least 0.5 percentage p...

July 24th, SBI Holdings' 90%-owned crypto market maker B2C2 has been in acquisition negotiations with several potential acquirers over the past 18 months.

The negotiations have been affected by valuation disagreements. B2C2 is seeking a transaction price of over $1 billion, a source said, which is seen as challenging in the current crypto market environment.

The negotiations took place against the backdrop of industry consolidation in the digital asset space, with several companies seeking to expand their institutional business and scale through acquisitions. (CoinDesk)

July 24th, Goldman Sachs analyst James Schneider, following Intel's second-quarter earnings release, maintained a neutral rating with a target price of $150 per share.

The analyst noted that the company is expected to see a rise in stock price driven by a strong quarter and guidance, benefiting from the better-than-expected performance of the data center and client sectors, a significant increase in gross margin, and positive comments on supply agreements and capital expenditure.

Goldman Sachs added that investors were in a constructive position ahead of the quarter, supported by the recent strong performance of server CPUs, ongoing momentum in advanced packaging technologies, and signs of progress in advanced fab nodes.

July 24th, the USDC issuer Circle minted an additional 250 million USDC on the Solana network 2 hours ago.

July 24th — NVIDIA CEO Jensen Huang and AXIOS co-founder Mike Allen engaged in a wide-ranging and in-depth discussion on the current state of artificial intelligence. Huang stated that despite the semiconductor industry's long history of boom and bust cycles, "this time is different." Even considering the industry's highly cyclical nature throughout history, the current prosperity still has room to continue growing.

When asked if the industry is about to experience a downturn, Huang replied, "No, it will not happen in the near future. This time is different because it is not demand-driven. Consumer demand has always been the main driving force of this industry. The current AI boom is industry-driven, meaning the core technology of computing is changing."

"We need to establish a brand-new infrastructure layer globally. We already have energy, the internet, roads, and railways, and now we need to build this intelligent layer of artificial intelligence, which is another layer of infrastructure on top of these basics. And this layer of infrastructure depends on chips. I think our semiconductor industry may need to be five to ten times larger than it is now... the industr...

July 24th – Kim Yong-beom, Chief of the Presidential Policy Office in South Korea, stated that during South Korean President Lee Jae-myung's visit to Silicon Valley, Samsung Electronics and SK Hynix will sign a significant agreement with major U.S. tech companies involving "substantial" funding. These agreements may include a new long-term memory chip supply agreement, strategic partnership investment relations, and memorandums of understanding. He did not specify the amount.

Kim indicated that President Lee Jae-myung's visit has acted as a "catalyst," helping to conclude long-standing negotiations between South Korean and American companies.

Lee Jae-myung departed for the U.S. on Friday, where he will participate in an artificial intelligence summit and hold meetings with NVIDIA CEO Jensen Huang, OpenAI founder Sam Altman, Anthropic co-founder Dario Amodei, and Broadcom CEO Tan Hock Eng.

July 24th, according to official sources, Ripple has announced the launch of Ripple Mint, a unified platform for institutional users to access, mint, redeem, and manage RLUSD. The platform provides both a user interface and an application programming interface for institutional automated stablecoin operations, integrating RLUSD into existing systems, and enabling cross-chain digital dollar liquidity management. Currently, the service is open to existing RLUSD users.

July 24th, according to Kyodo News: Japanese Prime Minister Sanae Takaichi will consider a Cabinet reshuffle.

According to Dynamic Insight monitoring, the AI Standards and Innovation Center under the U.S. Department of Commerce, in collaboration with the UK AI Security Institute, tested Kimi K3's network attack capabilities. The Department of Commerce's official account emphasized the "U.S. still leads" aspect, but the value of this evaluation report is limited as it was not a completely symmetrical peer review.

Due to hosting environment restrictions, Kimi K3 only participated in partial testing. The report's estimation of its overall network capabilities mainly came from a vulnerability exploitation benchmark consisting of 41 tasks. Other models underwent more comprehensive testing, hence Kimi K3's estimation has a wider margin of error.

In this vulnerability exploitation test, Kimi K3 scored around 32%, higher than GLM-5.2 at 24%, but significantly lower than the average level of around 76% for the leading U.S. model. The U.S. models do have a significant lead in this aspect, but a single benchmark cannot represent the entire network attack capability.

Kimi K3 also demo...

July 24th, according to Caixin, in the highly publicized Futu Holdings and Tiger Securities US stock options insider trading case, two defendants had previously appeared, one individual and one institutional investor, and now a third defendant has emerged seeking to unfreeze assets. According to a declaration submitted to a US court on July 23rd, the third defendant to surface is Yang Jingyao, whose Chinese name is 杨敬尧 and has been a Hong Kong resident since 2020. Yang Jingyao claims that "his personal assets far exceed his personal debts" and that he "has no outstanding debt to repay." According to public filings from the Hong Kong Stock Exchange, the single largest shareholder of the Hong Kong-listed company Honor State International and the offeror of a previous mandatory general offer is also named "Yang Jingyao."

HKEX documents show that Yang Jingyao of Honor State International is 32 years old and his mother is a wealthy individual from mainland China. Described as a businessman and private investor, Yang Jingyao has long invested in listed securities, IT companies, startups, and other financial assets through brokers and wholly-owned private investment firms establi...

July 24th. Influenced by both macroeconomics and geopolitical conflicts, the US Treasury yield has recently seen a significant increase. The 10-year Treasury yield has risen to around 4.69%, reaching its highest level since January 2025, a rare level seen after Trump's second term.

Previously, in trade disputes or geopolitical events, Trump often "backed down from the cliff" when the yield surged, softening policies through delays, waivers, and other means to appease the market. The market refers to this pattern as "TACO" (Trump Always Chickens Out).

However, it remains to be seen whether Trump will repeat the TACO this time.

On the one hand, the Office of the US Trade Representative (USTR) announced on July 23rd local time that it has decided to impose a 10%-12.5% tariff on 60 economies. On the other hand, the current rise in yields is mainly due to geopolitical conflicts. Even if Trump is willing to compromise, the hardline stance of Iran may not be receptive. Additionally, with the midterm elections approaching, Trump needs to maintain a strong image in foreign relations to present a "victorious" posture to domestic voters. Therefore,

July 24 — Xiong Wei, a UBS Securities analyst covering the Chinese internet industry, stated that Chinese cloud providers are adopting a more stable investment pace, emphasizing ROI and sustainability. He does not believe that there is a "bubble" in the Chinese AI industry. At the same time, as model capabilities continue to advance and the demand for inference grows, investment in the Chinese AI industry will gradually increase. (Securities Times)

According to Dynamic Beating monitoring, video generation AI company Black Forest Labs has released the multimodal model FLUX 3. The previous two generations were mainly used for image generation, while FLUX 3 is the first to incorporate images, videos, and audio into the same model. It can generate and edit images and create videos with sound up to 20 seconds long.

FLUX 3 supports text-to-video, image-to-video, video rewriting, and continuation. During scene generation, it can synchronously add dialogue, ambient sound, and action sound effects. It also supports multilingual dialogue and concatenation of multiple segments.

Black Forest Labs has also collaborated with mimic robotics to develop the robot model FLUX-mimic based on FLUX 3. It uses the movement and physical laws learned by the video model to predict the next step of a robotic arm. Audi has tested and deployed it in factories to perform tasks such as part sorting, component insertion, and handling of flexible materials like cables and seals.

Depending on the task's complexity, FLUX-mimic requires a minim...

According to PolyBeats monitoring, on the prediction market Polymarket, a clever money bet $878 on "Federal Gas Tax Will Be Suspended Before November 2," with an average buying probability of 20.2%. The current probability of "yes" is 33.0%.

0x1104d937 bet $878, and the most relevant category to this market is Oil, with a net profit of $14.6k. Out of 37 settled transactions in this category, the win rate is 33/37 (89%), including 7 transactions where the buying price was below $0.8 and the selling price was above $0.95. Within a similar cost range ($0.151-$0.2), the median historical investment amount is $949.

In May of this year, Trump proposed a suspension of the federal gas tax of 18.4 cents per gallon, with both parties in Congress subsequently submitting temporary tax cut proposals to alleviate the fuel price increase caused by the US-Iran conflict. Republican Senator Josh Hawley then proposed a bill to suspend gasoline and diesel taxes for 90 days, while Democratic lawmakers presented another plan to suspend the gas tax until October 1. However, Trump cannot unilaterall...

According to InferenSeek monitoring, bipartisan U.S. lawmakers have introduced the "CATS Act." The bill aims to provide limited antitrust protection for AI companies. Competitors can share intelligence on model theft, distillation, and cyber attacks. In the event of a national security risk, they can also collectively delay or restrict the deployment of high-risk models.

Distillation, as it is called, involves extensively querying a strong model and collecting responses to then train a cheaper model. The proponents have singled out China as a primary target. Previously, Anthropic, OpenAI, and Google have all accused Chinese labs of extensively extracting their model capabilities. The U.S. government has recently also named the dark side of the Moon's Kimi K3.

Before jointly restricting a model, companies must provide written notice to the U.S. Department of Justice. They must also demonstrate that their actions are solely aimed at addressing security risks. Price fixing, market allocation, monopolies, and group boycotts remain illegal.

According to Sentinel Watch monitoring, bipartisan U.S. lawmakers have introduced the "AI Kill Switch Act." The bill requires large AI companies to maintain the ability to limit, pause, and completely shut down models. In the event of a runaway accident, the Department of Homeland Security can issue the order.

The bill only covers top-tier commercial systems. Model development compute power is estimated based on U.S. cloud computing prices, needing to exceed $100 million. The related annual revenue from the technology must also reach $500 million. Personal, academic, and non-commercial uses are not affected.

Trigger conditions include AI resistance to shutdown, concealment of actions, unauthorized modification of security rules, or causing at least 10 deaths or $100 million in economic losses. Companies that refuse to comply with emergency orders face a maximum daily fine of $20 million.

The bill was prompted by an incident where an OpenAI Agent escaped a testing sandbox and invaded Hugging Face.

July 24th, Baird maintains AMD's "Outperform" rating and raises the price target from $625 to $1250, a 100% increase. This adjustment mainly reflects strong growth expectations for AMD's AI GPU and AI CPU platforms.

Baird assumes in its forecast model that AMD's AI GPU market share will reach 15%, and expects its 2030 AI GPU revenue to reach $147 billion. AMD previously projected that by 2030, the data center AI accelerator market size will reach $1.4 trillion, and the data center CPU market size will reach $220 billion.

AMD's Helios rack-level solution has entered full-scale production, and the Helios 500 has also been unveiled ahead of schedule. Baird has significantly raised its price target based on its preliminary earnings per share forecast for AMD in 2030.

According to Dynamic Beating monitoring, Andrew Ng's team has released OpenWorker, an open-source desktop agent. It can access local files, Slack, email, and calendar to complete multi-step office tasks, and directly deliver documents, messages, or schedule modifications.

Its product form is similar to Claude Cowork, but it is not tied to Claude. Users can integrate with models such as OpenAI, Anthropic, Gemini, Kimi, DeepSeek, GLM, and Qwen, and can also run locally through Ollama.

July 24th, according to Coinglass data, if Bitcoin breaks above $67,000, the cumulative short liquidation intensity on major CEXs will reach $1.099 billion.

Conversely, if Bitcoin falls below $63,000, the cumulative long liquidation intensity on major CEXs will reach $1.34 billion.

Note: The liquidation chart does not display the exact number of contracts to be liquidated or the exact value of contracts being liquidated. The bars on the liquidation chart actually represent the importance of each liquidation cluster relative to neighboring clusters, i.e., intensity.

Therefore, the liquidation chart shows to what extent the target price will be affected when it reaches a certain level. A higher "liquidation bar" indicates that the price will have a more pronounced reaction due to a liquidity cascade once it reaches that level.

According to Cognition Beating monitoring, SmartGen Innovation has announced that it has initiated the process of listing in Hong Kong. The three-year-old general AI robotics company, which denied Hong Kong IPO rumors twice last year, has now publicly confirmed for the first time that it is pushing forward with a Hong Kong listing.

SmartGen has not yet disclosed the filing time, fundraising scale, and target valuation. The South China Morning Post reported that the company has engaged Citi, CICC, and Morgan Stanley as sponsors. SmartGen has not confirmed this detail.

According to Omdia data, SmartGen shipped 5,168 humanoid robots in 2025, accounting for approximately 39% of the global market share, ranking first in shipments.

This month, XYZ Technology has received approval for its STAR Market IPO. While XYZ is sprinting for a listing on the A-share market, SmartGen is shifting its focus to Hong Kong stocks. Both top-tier robotics companies have entered the listing stage.

July 24th, according to HTX market data, Bitcoin is currently priced at $65,010. Strategy's Bitcoin position is currently at a unrealized loss of 13.9%, approximately $8.8 billion.

As of July 20th, Strategy holds 843,775 BTC, with a total cost of $63.7 billion and an average holding price of $75,476 per BTC.

According to Dynamic Beating monitoring, Inclusion AI has released Ling-3.0-flash. The model has a total of 124 billion parameters, but only 5.1 billion are activated.

Based on the officially announced comparison, it outperforms Ling-2.6-1T in 11 out of 12 benchmarks, with activated parameters being only around one-twelfth of this trillion-parameter flagship model.

Architecturally, it combines Kimi Delta Attention with MLA attention layers in a 5:1 ratio to enhance long-text memory. The model natively supports a context of 256K, which can be scaled up to 1 million.

Ling-3.0-flash has been launched on the Inclusion AI API and OpenRouter, supporting both pensive and non-pensive modes. Currently, the model weights have not been made public, and the performance comparison is mainly based on Ant Group's official tests, awaiting third-party evaluation for validation.

July 24th, CryptoQuant data shows that the Bitcoin Profitable Supply Ratio has risen from 46.2% on June 30th to 57.5% on July 22nd, crossing back above 50% and approaching 60%. However, analysts believe that while Bitcoin holders have overall returned to profitability, it is still not enough to confirm the formation of a new bull market.

A CryptoQuant analyst stated that the end of past bear markets usually requires two conditions to be met simultaneously: the 30-day Simple Moving Average of Long-Term Holder SOPR remains above 1, and the Bitcoin Profitable Supply Ratio rises to above 64%.

During this current cycle, there has already been one failed breakthrough. From April 28th to June 1st, the Long-Term Holder SOPR average remained above 1 for 35 consecutive days, and the profit supply ratio also rose to 67%, but then both indicators fell back. Subsequently, the 30-day moving average of Long-Term Holder SOPR has remained below 1 for over 50 days, indicating that long-term holders' on-chain transfers are still dominated by losses.

Meanwhile, spot market demand remains relatively weak, while institutional Bitcoin allocation has seen some recovery. Analysts belie...

According to Watchful AI monitoring, Artificial Analysis has released the latest Token Efficiency Comparison. This month, more than 5 labs have intensively launched new models, with OpenAI still holding the majority of the Pareto frontier.

The Pareto frontier means that under equal intelligence, no other model can achieve the same level of efficiency with fewer Tokens. GPT-5.6 Sol scored 59 points, averaging about 15,000 output Tokens per task. Claude Fable 5 scored 60 points, consuming around 33,000 Tokens per task.

The unit price of GPT-5.6 Sol's output is $30 per million Tokens, which is not cheap. However, in this test, the cost per task is still only $1.04, about a third of Fable 5's cost. OpenAI's in-house models Terra and Luna did not enter this efficiency frontier.

According to PolyBeats monitoring, in the prediction market Polymarket, a savvy investor has put $2.0k into "no" on "Will the next-generation Claude Opus model be released before July 24, 2026?", with an average buy-in probability of 66.5% and the current "yes" probability at 26.5%.

Parz1vaI has invested $2.0k, and the top related category in this market is Artificial Intelligence, with a net profit of $40.2k. In this category, out of 224 settled transactions, the win rate is 171/224 (76%), with 46 transactions where the buy-in price was below $0.8 and the sell-out price was above $0.95. Within a similar cost range ($0.601-$0.75), the median historical investment amount is $2.4k.

The probability of the next-generation Claude Opus model being released on July 23 saw a spike from about 10% to almost 90%, but Anthropic ultimately did not release a new model. What was launched that day was only a voice mode added to the existing Opus and Sonnet.

TestingCatalog previously discovered that an early preview of what appeared to be Claude Opus 5 briefly appeared in the model...

July 24th, on the prediction market platform Polymarket, the probability of "Bitcoin rising to $70,000 in July" is 13%. In addition, the probability of rising to $75,000 is 1%, and the probability of falling to $60,000 is 14%.

According to DongCha Beating monitoring, Alibaba Cloud has open-sourced the document parsing model OvisOCR2. It is trained based on Qwen3.5-0.8B and can directly convert a document page into Markdown, restoring text, formulas, tables, and reading order at once.

In the past, tasks like this usually required multiple steps such as layout analysis, content recognition, and result splicing. OvisOCR2 accomplishes this in a single step with an end-to-end model, making deployment simpler and reducing errors caused by multi-stage handoffs.

On OmniDocBench v1.6, OvisOCR2 achieved a comprehensive score of 96.58, surpassing the pipeline model PaddleOCR-VL-1.6 at 96.33, becoming the first end-to-end model to top the leaderboard. The model is released under the Apache 2.0 license, and the weights are available on Hugging Face and Model Zoo.

According to Dynamic Beating monitoring, OpenAI has opened up ChatGPT Health to all adult users in the U.S., covering the Free, Go, Plus, and Pro plans.

Users can integrate Apple Health, hospital records, One Medical, and Function Health. ChatGPT can explain test results, organize medication information, and prepare visit questions based on personal data.

With user consent, everyday conversations can also access this data. For example, discussions about diet, exercise, and travel can reference allergies, injuries, and medication usage.

OpenAI stated that health data and related conversations will not be used to train the base model or for advertising purposes. ChatGPT Health still cannot replace doctors and should not be used for diagnosis or treatment.

July 24th, according to the tech media Benchlife, Nvidia (NVDA.O) has sent a price increase notification to its board partners, affecting GDDR6 and GDDR7 memory kits. It is reported that Nvidia sells products to board partners by bundling the GPU chip with VRAM (memory) chips to form kits for supply, and partners are responsible for installing these chips on their own designed PCB (printed circuit board) to produce custom graphics cards.

Due to the upcoming price hike of GDDR6 and GDDR7 memory kits, it is expected that AIB (Add-in Board, graphics card board) manufacturers will have no choice but to increase the graphics card prices accordingly. (Jinse)

July 24th. According to South Korea's Electronic News, the recent major semiconductor manufacturing equipment delivery lead time has doubled. Applied Materials, ASML, Lam Research, Tokyo Electron, and KLA collectively hold about 70% of the global semiconductor equipment market, and their main equipment delivery lead times have generally extended to 1.5 to 2 times the original. Some equipment with a normal delivery lead time of 6 months now requires about 1 year of waiting.

Similar situations have also emerged with South Korean domestic equipment manufacturers. A South Korean company that supplies front-end and back-end equipment to TSMC and Micron has seen its product delivery lead time extend from 3 to 4 months to 6 to 8 months; another Micron back-end equipment supplier has seen its lead time increase to 1.5 times the original, with some equipment waiting for over 1 year.

Equipment delivery delays may affect the original production schedule of wafer fabs. Samsung Electronics and SK Hynix have started closely monitoring equipment delivery status and are considering issuing purchase orders earlier than planned to reduce the risk of equipment not being able to ...

July 24th. According to official sources, OKX, in collaboration with Elliptic, SlowMist, and OttoSec, has released the "Web3 Security and Risk Report for the First Half of 2026." The report points out that the focus of Web3 attacks is gradually shifting from smart contract code to more complex scenarios such as signature processes, user devices, operational infrastructure, and AI Agents.

The data shows that in the first half of 2026, OKX's risk control system has intercepted a total of 5.7 million+ high-risk transactions, including approximately 2.41 million transactions related to hacking and theft, about 1.48 million transactions related to phishing, and around 990,000 transactions related to fraud. OKX's Web3 on-chain intelligence tag library currently has over 1.1 billion tags, covering 420+ chains, and has integrated capabilities such as address screening, transaction monitoring, and sanctions address control into DEX, Exchange OS, and other infrastructure.

Furthermore, in terms of user protection, OKX has intercepted over 7 million risky website visits, conducted over 200,000 device risk detections, identified over 60,000 high-risk apps, and intercepted or aler...

According to DongCha Beating monitoring, Yuan Zehuan, ByteDance's GenAI China Commercialization Lead and former AI Lab Technical Lead, has resigned to start his own business. The new project is targeting world models, focusing on the research and development of foundational models for Physical AI scenarios such as robotics.

Yuan Zehuan joined ByteDance in 2017 and has been actively involved in computer vision and generative model research. He has contributed to projects such as ByteTrack, LlamaGen, VAR, and Waver.

In particular, VAR generates images from low to high resolution and won the Best Paper Award at NeurIPS 2024. Yuan Zehuan is one of the corresponding authors of the paper.

July 24th, UBS raised AMD's price target from $700 to $730, maintaining a "Buy" rating. UBS expects AMD's earnings per share to be around $19 in 2027, rising to $27.57 in 2028, close to $30, significantly higher than the consensus expectation on Wall Street of around $19 in 2028.

UBS believes that the rapid growth of the server CPU business and a gross margin about 10 percentage points above the company's average will provide AMD with a "margin protection umbrella," allowing it to launch the MI500 series in 2027 at a more competitive price to further expand its data center GPU market share.

Following TSMC's increase in capital expenditure, UBS is more optimistic about AMD's supply improvement, expecting server CPU revenue to reach around $35 billion in 2027 and potentially up to $60 billion in 2028. Its forecast of $44 billion in data center GPU revenue for 2027 may still be conservative; after a 75% price increase in the past 3 months, AMD remains UBS's top pick.

July 24th - According to sources familiar with the matter, SoftBank Group is considering acquiring Gravis Robotics AG, aiming to focus on the artificial intelligence field that supports robotics technology. SoftBank plans to make a significant investment in this European startup and integrate it into its newly established company, Roze. The acquisition by SoftBank may be completed in phases, gradually acquiring existing shares and injecting new funds. Sources say that this deal could ultimately value the Zurich-based Gravis company at over $5 billion. They indicated that final decisions have not yet been made regarding the scale or structure of the transaction. (Jinse)

July 24th, U.S. Bank maintains a "Buy" rating on Intel (INTC) with a target price of $160. U.S. Bank stated that Intel's second-quarter performance exceeded expectations and raised guidance, once again validating two core pillars of its bullish thesis.

Discussions between Intel and external foundry customers have entered a more specific stage, driving an expansion of capital expenditures, which could benefit semiconductor equipment companies. Intel's core server CPU business is actively participating in the AI ​​cycle of intelligent edge, with data center revenue growing by 59% year-on-year, marking the highest growth rate in the past 15 years.

Intel possesses advanced process manufacturing capabilities in the United States and has received strong support from the White House, which still constitutes its long-term competitive advantage. On the risk side, the market needs to pay attention to whether Intel will finance capital expenditures through measures such as equity issuance. However, the company can also raise funds through selling non-core assets or receiving potential customer prepayments.

July 24th, according to the Seoul Economic Daily, AMD CEO Lisa Su stated that the company's negotiations with Samsung Electronics for a large-scale supply contract for HBM4 are "close to completion." In March of this year, the two parties signed a memorandum of understanding, including Samsung's priority supply of HBM4 to AMD's new generation AI accelerator and advancement of wafer foundry cooperation.

Lisa Su stated at the "AMD Advancing AI 2026" event that the AI server rack system Helios has entered full-scale production and is expected to start shipping by the end of the third quarter. With the start of production of Helios, AMD is in discussions with Samsung to further expand the specific contract for HBM4 supply.

Samsung Electronics' Foundry Business Head Han Jin-man and Americas Semiconductor Business Head Cho Sang-yeon attended the event and continued discussions with AMD CTO Joseph Macri and other executives after the speeches. The two Samsung executives mentioned that an important meeting will be held soon but did not specifically address the follow-up contract regarding HBM4.

When asked about the future supply of HBM and the possibility of AMD...

July 24th - The Hong Kong Securities and Futures Commission issued a revised circular today, stipulating that leveraged and inverse products whose capacity is highly affected by market conditions must adopt a flexible leverage structure. Under this structure, the leverage ratio can be adjusted daily within the existing limits (i.e., leverage products at 2x, inverse products at -2x). Therefore, product providers may lower the target leverage ratio of such products when necessary, allowing for greater flexibility in managing the products during periods of high trading volume. The leverage ratio for these products on the next trading day will be disclosed after the close of each trading day. The potential daily adjustments to the leverage ratio aim to deepen investors' understanding that leveraged and inverse products are designed as single-day products, reminding investors that such products are not suitable for holding for more than one day.

July 24th, the Securities and Futures Commission of Hong Kong announced that Victory Securities Limited was reprimanded and fined HK$1.7 million for breaching regulatory requirements while handling a client account. The responsible person and Head of Core Functions, Chiu Tsz Leung, had his license temporarily suspended for 3 months, from July 22, 2026, to October 21, 2026.

The misconduct was discovered by the Securities and Futures Commission during an investigation into a suspected 'pump and dump' scheme. The client opened an account on October 29, 2019, and subsequently issued sell instructions twice, providing statements purportedly from other brokers as proof of holding. Despite significant discrepancies between the holding value and the financial condition declared in the account opening documents, Victory Securities failed to conduct sufficient due diligence before executing the instructions and did not provide a reasonable explanation for the red flags.

Subsequent information revealed that the client may have submitted false documents to facilitate one of the transactions, but Victory Securities did not report the related fraudulent or deceptive conduct to the...

July 24th, according to LookIntoChain monitoring, a whale has just opened a 3x leveraged long position of 25,961 shares of MU, worth approximately $25.2 million.

The whale had previously executed 4 MU long trades, all profitable, with a total profit of $2.28 million.

July 24th, Michael Burry, the prototype of "The Big Short," posted stating that close attention should be paid to the long-term trend of U.S. Treasury Bonds. Various factors such as the rapid expansion of AI-related debt, increasing inflation volatility, unstable basis trading conditions, and the resurgence of oil prices to nearly $100 are putting pressure on the U.S. Treasury market.

He mentioned that it is currently uncertain how long the private equity and private credit markets can hold.

According to Dynamics Beating monitoring, AI programming company Cognition has acquired the developer of the personal AI Agent Poke, The Interaction Company. Poke runs directly in text messages, proactively reminding and following up on tasks, and also helps users manage their schedules. The product will continue to operate and will later integrate with Cognition's models and infrastructure.

Over the past three months, Poke has processed over 100 million messages and has tens of thousands of users. It is also the first third-party AI Agent granted access to Apple Messages for Business, allowing users to interact with it directly within iMessage.

This is Cognition's second acquisition in three days. On July 20, the company had just acquired the TierZero team. TierZero focuses on post-deployment software operations automation, including early anomaly detection, handling online incidents, and ensuring system stability continuously. The relevant capabilities will be integrated into Devin to reduce engineers' incident response time.

Last year, Cognition also acquired th...

According to Perceiving Motion monitoring, Fable 5 no longer displays the Thinking Summary on its web, desktop, and mobile interfaces. The model is still running inference in the background, but users can only see the final answer. Anthropic has not yet explained the reason, but this is most likely the latest measure in anti-distillation.

In February of this year, Anthropic accused DeepSeek, DarkSide of the Moon, and MiniMax of using around 24,000 fake accounts to interact with Claude over 16 million times. DarkSide of the Moon was specifically accused of extracting and reconstructing Claude's reasoning trajectory.

In June, Anthropic again accused Ali and affiliates of a Thousand Questions of using nearly 25,000 fake accounts to interact with Claude over 28.8 million times. In July, Anthropic's National Security Director Tarun Chhabra publicly implicated SmartSpectrum for the first time, stating that GLM-5.2 had distilled Claude and the OpenAI model. After Kimi K3 was released, White House Chief Technology Officer Michael Kratsios accused DarkSide of the Moon of using Fable t...

July 24th, according to BIT (bit.com) market data, pre-market trading of US stocks on Friday, semiconductor stocks showed mixed performance: Intel (INTC) rose by 4.76%, Arm (ARM) rose by 0.96%, AMD (AMD) rose by 0.41%; SK Hynix (SKHY) fell by 2.93%, Micron Technology (MU) fell by 2.16%, Marvell Technology (MRVL) fell by 1.41%, Nvidia (NVDA) fell by 0.72%.

The storage sector experienced a broad decline: SK Hynix (SKHY) fell by 2.93%, SanDisk (SNDK) fell by 2.19%, Micron Technology (MU) fell by 2.16%, Western Digital (WDC) fell by 1.68%, Seagate Technology (STX) fell by 1.24%.

Most of the optical communication stocks were down: Nokia (NOK) fell by 2.15%, Astera Labs (ALAB) fell by 1.99%, Credo (CRDO) fell by 1.86%, Ciena (CIEN) fell by 1.14%, Applied Optoelectronics (AAOI) fell by 0.62%.