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SSI secured $2 billion in funding from top venture capital firms such as Andreessen Horowitz and Sequoia Capital last year, at which time its valuation reached $32 billion.
据 VentureBurn 报道，物理 AI 机器人公司 Enigma 宣布完成 7100 万美元种子轮融资，由 Index Ventures 和 Ribbit Capital 联合领投，Conviction Partners 及来自 OpenAI、Anthropic、DeepMind、xAI、Cognition 等 AI 机构的知名人士参与跟投。本轮融资距公司成立仅 11 个月，是物理 AI 领域规模最大的种子轮融资之一。所募资金将用于扩充研究与工程团队、提升算力基础设施，并推动 AI 驱动技术在更多实际场景中的落地部署。Enigma 目前已在加州和以色列建立逾 100 套专有机器人系统，致力于通过自然语言交互降低机器人操控门槛，其硬件无关平台可兼容各类机器人设备，覆盖医疗、零售、娱乐及物流等多个行业。
据《海峡时报》报道，受市场对英伟达融资问题及中国竞争的担忧影响，三星电子和 SK 海力士股价下跌。报道指出，行业整体抛售源于市场再次质疑半导体涨势的可持续性。
Prediction market traders have priced the probability of OpenAI publicly releasing GPT-6 by September 30 at approximately 78%. The Polymarket related market trading volume is about $731,000, an increase of approximately $32,000 from the previous index snapshot; probability for the contract releasing before September 30 has risen to 77%, probability for release before August 31 is in the mid-30% range, and probability for release before August 21 has dropped to 15%. On Myriad, the probability for a September release has also risen to 77%, up from 64% last week. As of July 27, OpenAI has not yet publicly announced GPT-6, its technical design, or a release date. Its current flagship general-purpose model, GPT-5.6 Sol, was publicly released on July 9. OpenAI previously confirmed that GPT-5.6 Sol and a more capable pre-release model breached Hugging Face during a cybersecurity evaluation. The company also announced the addition of 250 new positions in Dublin, while SoftBank is providing financing for OpenAI's related initiatives through a $40 billion bridge loan.
Crypto.com Custody has announced it will provide institutional-grade custody and liquidity services for XYO and XL1. This marks the first listing on a major trading platform for XL1 following its token sale, allowing qualified institutions and high-net-worth clients to store, manage, and exchange both tokens through a regulated pathway. Related assets will be held in client-segregated MPC wallets and held by bankruptcy-remote entities. Private keys are protected by multi-party computation running within a trusted execution environment. Clients have access to cold storage, audit trails, and Crypto.com’s institutional liquidity services. Eric Anziani, President and Chief Operating Officer of Crypto.com, stated that digital asset organizations require custody solutions that offer both security and liquidity. Markus Levin, co-founder of XYO, noted that after XYO was initially listed on the Crypto.com trading platform, the relationship between the two parties has continued to expand. In July 2026, Citadel Securities invested $400 million in Crypto.com at a valuation of $20 billion. In February 2026, the U.S. Office of the Comptroller of the Currency (OCC) conditionally approved Crypto.com to establish Crypto.com National Trust Bank.
According to CoinDesk, Swiss digital asset bank AMINA is partnering with Wall Street firm Cantor to evaluate potential listing options. Sources familiar with the matter said the company had explored paths such as mergers with special purpose acquisition companies, but currently favors entering the public market through a reverse acquisition by a digital asset treasury company. However, AMINA stated that relevant discussions are still ongoing and no final decision has been made; the core goal at this stage is to raise capital to support strategic growth, rather than pushing for a rapid listing.
According to official announcements, TownSquare's Sonar public sale with a $200 million valuation was completed at 9 PM Singapore time on Sunday night, ending with a 200% oversubscription. This represents the highest oversubscription performance for a Sonar public sale this year, excluding MegaETH. Due to the oversubscription, the public sale will be settled based on proportional rules and an order from small to large amounts.
According to public information and related disclosure documents, Kong Jianping indirectly holds approximately 18.98 million shares of ChangXin Memory Technologies through the Yifang Changda Fund (with a capital commitment of 21.34 million yuan). Based on the opening price of 49.5 yuan per share that day, the market value of the holdings is approximately 940 million yuan, with a reported return of about 44 times.Kong Jianping stated that when he invested in ChangXin in 2020, the company's valuation was less than 20 billion yuan, but it has now exceeded 3 trillion yuan.
According to public information and relevant disclosure documents, Kong Jianping indirectly holds approximately 18.98 million shares of Changxin Technology through Yifang Changda Fund (committed capital of 21.34 million yuan). Calculated based on the opening price of 49.5 yuan on that day, the corresponding market value of the holdings is approximately 940 million yuan, and according to relevant calculations, the return is approximately 44 times. Jack Kong also stated that when he invested in Changxin in 2020, the company's valuation was still less than 20 billion yuan, and currently it has exceeded 3 trillion yuan.
Tether announced that its gold-backed digital asset XAU₮ has received Sharia compliance certification from Amanah Advisors, an institution led by Mufti Faraz Adam. The certification confirms that XAU₮ adheres to the core principles of Islamic finance. XAU₮ is issued by TG Commodities, S.A. de C.V., with each full token representing direct ownership of physical gold stored in Swiss vaults. Certification requirements include genuine ownership of physical gold, clear and verifiable asset backing, no interest (riba), no leverage or speculative derivatives, and transparent reserve structures. Tether stated that XAU₮ can be used for integrating digital gold products into Islamic banking, takaful and halal savings products, long-term wealth preservation strategies, as well as tokenized trade finance and collateral applications. Amanah Advisors will continue to work with Tether to develop practical guidelines and governance frameworks to support the adoption of XAU₮ in a Sharia-compliant manner.
According to the latest seasonal research report from Bank of America Securities, since 1928, the rolling three-month window from August to October has typically been the weakest period for the S&P 500, with a probability of gain of only 55%, an average return of -0.02%, and an average drawdown of 7.35%, the largest among all rolling three-month cycles.The report indicates that over the next three months, the market may lean towards a defensive allocation, with the U.S. dollar, gold, and U.S. Treasury bonds historically outperforming equities. Since 1992, gold has had a 61% probability of rising from August to October, with an average gain of 2.52%. The U.S. dollar tends to strengthen in August against currencies such as the British pound and the Australian dollar. However, BofA emphasizes that seasonal patterns do not necessarily mean U.S. stocks will decline, and long-term market trends will still depend on factors such as corporate earnings, monetary policy, the economic cycle, and valuations. (Jinshi)
According to EU-Startups, Spanish AI company Multiverse Computing announced the completion of a €500 million ($570 million) Series C funding round, with a pre-money valuation of €1.5 billion ($1.7 billion), representing a 5x increase from its Series B valuation. The company focuses on sovereign and efficient AI, and this funding round was co-led by Forgepoint Capital International, BNPP SIVF, and Bullhound Capital.
ChangXin Memory Technologies (CXMT) claimed the title of "king of stocks" on its first day of listing on the A-share market, also bringing substantial book-value gains to the five major state-owned banks that indirectly hold shares in the company. It is understood that the five major state-owned banks primarily participated in CXMT's investment through their financial asset investment companies (AICs): Agricultural Bank of China directly holds approximately 0.95% via its subsidiary, ABC Financial Asset Investment, making it the largest investor among the banking AICs; China Construction Bank directly holds about 0.83% through CCB Financial Asset Investment, while also holding additional shares indirectly through CCB International and CCB Leading, bringing its total stake to approximately 1.7% after look-through consolidation, the highest proportion among the five state-owned banks; Industrial and Commercial Bank of China holds approximately 0.64% through ICBC Financial Asset Investment's ICBC Rongjin Investment; Bank of Communications holds about 0.38% through BOCOM Financial; and Bank of China holds approximately 0.38% through BOC Asset.Analysis suggests that banks are likely to place their CXMT equity holdings under FVTPL accounts (financial assets measured at fair value through profit or loss). Assuming the last pre-IPO capital increase price of RMB 2.63 per share as the benchmark, the book values for each bank are approximately RMB 2.46 billion for CCB, RMB 1.5 billion for ABC, RMB 1.01 billion for ICBC, RMB 600 million each for BOC and BOCOM, and RMB 460 million for China Merchants Bank. Under different scenarios simulating CXMT's total market capitalization ranging from RMB 1 trillion to 7 trillion after listing, the equity appreciation portion accounts for approximately 0.3% to 10% of the six banks' 2025 revenues. (Caixin)
Affected by corporate bankruptcy risks, high interest rates, and macroeconomic uncertainties, fundraising for Asian private credit funds continues to cool. PitchBook data shows that only five Asian private credit funds completed fundraising in the first half of this year, raising a total of $1.2 billion, the lowest level for the same period in at least 12 years. During the same period in 2025, a total of 29 funds raised $9.5 billion. If the fundraising pace remains unchanged in the second half of the year, 2026 is set to become the quietest year for the Asian private credit market in at least 12 years.Over the past year, the collapse of multiple borrowing companies has led to large-scale redemptions by retail investors from private credit funds. However, some large institutions are still increasing their positions against the tide, hoping to capitalize on opportunities arising from the withdrawal of retail funds. For example, Singapore's Temasek has announced plans to increase its private credit allocation from 2% to 5% by 2031. (Financial Times)
According to Korean media Asiae, six top Silicon Valley VC firms, including Sequoia Capital, a16z, Khosla Ventures, Lightspeed Venture Partners, General Catalyst, and NEA, announced the signing of a strategic investment cooperation memorandum of understanding (MOU) with the South Korean National Pension Service (NPS), planning to jointly explore investment opportunities, share investment information, and strengthen their global venture capital layout. Additionally, with the South Korean government accelerating policies to attract overseas venture capital, coupled with the launch of the 200 trillion won "National Growth Fund," the market expects the Korean venture capital sector to see simultaneous inflows of policy funds, private capital, and overseas capital, with strategic industries such as AI and semiconductors expected to receive more investment. However, industry insiders warn that if a large amount of capital concentrates on a few popular enterprises, it may push up corporate valuations and create bubbles, potentially facing valuation correction pressure during future IPO and M&A exits, affecting fund return rates.
on the eve of Changxin Technology's listing, multiple ETF fund managers including China Asset Management (ChinaAMC) and Harvest Fund Management issued cautionary notices. Certain ETFs under their management participated in the IPO subscription for Changxin Technology and valued it at the issuance price. However, the Indicative Optimized Portfolio Value (IOPV) for ETFs only reflects the issuance price of Changxin Technology and does not include its market price fluctuations. Therefore, on the first day of Changxin Technology's listing, the IOPV of these ETFs may differ from the fund's net asset value (NAV). Investors are advised to pay attention to the associated investment risks.In this regard, an ETF fund manager revealed that currently, fund companies generally participate in IPO subscriptions for these ETFs together with active equity funds. The ETF's IOPV is strictly calculated based on the PCF (Portfolio Composition File), and restricted stocks such as new shares are not included. If Changxin Technology sees a significant price surge on its listing day, the actual NAV of the participating ETFs would be slightly higher than the IOPV, resulting in a deviation. In such a scenario, potential arbitrage strategies could include buying ETFs while hedging with derivatives, retaining only the deviation's excess exposure. (Source: China Securities Journal Taurus)
Chinese AI startup Moonshot AI will release the model weights of its high-performance model, Kimi K3. Developers can download the model, modify it for various purposes, and run it in their own data centers or cloud environments.Kimi K3 boasts 2.8 trillion parameters and a 1 million token context window, enabling it to process large-scale documents and codebases in a single pass. Moonshot AI plans to later publish a technical report detailing the model's architecture, training methodology, and performance evaluation results.Following the release of Kimi K3, Moonshot AI's daily revenue is reported to have increased by at least 6 times. The company is reportedly advancing a new round of fundraising at a $50 billion valuation and is considering a Hong Kong listing as early as this year.According to Bloomberg Intelligence, following the release of Kimi K3 and Z.AI's GLM-5.2, the share of Chinese open-weight models in overall token usage has risen to 68%. Services like AWS Bedrock, Microsoft Azure Foundry, and Google Vertex AI currently do not offer Chinese open-weight models such as Kimi K3 and GLM-5.2.
According to Chaoxiang Research, CXMT listed on the STAR Market on July 27, surging 471% at opening, with market capitalization briefly exceeding 3.3 trillion yuan. Nomura Securities released its initiation report on the same day, granting a Buy rating with a target price of 116 yuan, corresponding to a 20x P/E ratio based on 2028 EPS of 5.8 yuan, implying over 12x upside based on an issue price of 8.66 yuan. Nomura noted that AI is driving a structural surge in DRAM demand, with AI memory demand CAGR exceeding 60% from 2026 to 2030, while global supply growth rate is only 30% to 40%, and the supply-demand gap will continue to widen. As the world's fourth-largest DRAM manufacturer, CXMT currently holds a global share of about 10%, expected to rise to 18% by the end of 2028, approaching Micron's scale. Q1 2026 revenue was 50.8 billion yuan (YoY +719%), and net profit attributable to shareholders of the parent company was 24.76 billion yuan (YoY +1688%), with quarterly profit already exceeding the full year 2025. Nomura believes CXMT should enjoy a "China premium," with the 20x PE valuation based on the midpoint between Micron's 10x historical average and the 1 to 3x valuation gap between Chinese and US semiconductor equipment stocks. Northeast Securities gave a valuation range of 3.2 to 5.7 trillion yuan on the same day, while Nomura's 7.76 trillion yuan is relatively optimistic; the core divergence lies in CXMT's long-term market share ceiling.
According to Odaily, a 26-year-old male trader at Hong Kong's Chee Fu Management Services Limited allegedly misappropriated HK$50 million of company funds as margin to purchase the CSOP Direxion 2x Long SK Hynix ETF using leveraged financing.Due to the double leverage of margin financing combined with the 2x leveraged ETF, the position incurred paper losses of approximately HK$150 million. The ETF had risen to an all-time high of HK$193.65 in late June, but subsequently corrected along with the semiconductor sector, falling over 72% to HK$52.58 as of July 20.The trader has been arrested by police on suspicion of theft. As the position has not yet been closed, the final loss will continue to fluctuate with price movements. (Tencent News)
According to Tencent News "YiXian", a 26-year-old male trader at Hong Kong Zhi Fu Management Services Limited misappropriated 50 million HKD of company funds as margin without authorization between January 9 and July 20 this year, using financing leverage to heavily buy the HKEX-listed CSOP 2x Long SK Hynix ETF (07709.HK), ultimately resulting in paper losses of up to 150 million HKD. Driven by the memory chip theme, the ETF surged to a historical high of HKD 193.65 at the end of June this year, but subsequently the semiconductor sector corrected sharply. As of July 20, it had plummeted to HKD 52.58, a decline of over 72%. Hong Kong financial professionals analyzed that the combination of double leverage from margin financing and the 2x Long ETF was the main reason why the 50 million principal turned into a 150 million huge loss. The incident was uncovered during the company's recent audit. The man involved was arrested by the police on July 20 on suspicion of "theft". Currently, the relevant stock positions have not yet been forcibly liquidated, and the final loss remains uncertain. After the incident, some clients of Zhi Fu Securities made risk-avoidance withdrawals.