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Serenity: Tech Giants' 2026 CapEx May Exceed Expectations; Bottleneck Assets Like Memory Chips Poised for Valuation Reshaping
"White-Haired Stock Guru" Serenity has summarized the capital expenditure guidance from the latest earnings reports of Amazon, Meta, Google, and Microsoft, stating that the four major tech giants are expected to allocate a combined capital expenditure of approximately $720 billion to $745 billion in 2026, exceeding the market's previous expectation of $695 billion to $725 billion. The market has recently experienced significant deleveraging, as well as position liquidations among retail and institutional investors due to margin pressures. While short-term adjustments may persist, it is difficult to maintain a bearish stance on upstream semiconductor companies and next-generation cloud computing infrastructure in the medium to long term.Serenity also proposed the "bottleneck investment" thesis, arguing that when trillions of dollars in capital flow into supply chain segments previously viewed as low-value commodities—such as memory chips and even enterprises in the energy infrastructure sector—these companies may undergo a valuation reshaping. Many currently popular AI supply chain companies were previously overlooked by the market during the telecommunications cycle. However, as AI infrastructure construction enters an acceleration phase and capital expenditure flows into their balance sheets, these enterprises may experience a repricing.
Citrini: Hyperscaler Bond Issuance Over Next Two Years May Far Exceed Market Expectations
Citrini Research, the institution behind the "AI Doomsday Report," stated that bond issuance by hyperscalers in 2027 to 2028 could be more than double current market expectations, primarily to support the construction of AI data centers.Citrini Research pointed out that AI-related debt issuance is expected to approach $570 billion in 2026, while hyperscalers' capital expenditures have already exceeded $600 billion. Amid the continued push for AI infrastructure development, these companies are gradually shifting from relying on cash reserves to raising more funds through the bond market.
Anthropic in Talks for at Least $30 Billion in New Funding, Valuation May Exceed $90 Billion
According to Bloomberg, AI company Anthropic is in preliminary negotiations with investors to raise at least $30 billion in new funding, with a potential valuation exceeding $900 billion—excluding the amount raised in this round. Sources familiar with the matter said the deal could be finalized as early as the end of this month, though it has not yet been finalized and no term sheet has been signed. Anthropic is the developer of Claude; if completed, this funding round would become its largest to date.
Bitwise CIO: Privacy Could Be the Next “Killer App,” Arc, Canton, and Tempo Exceed $1 Billion in Total Funding
Bitwise Chief Investment Officer Matt Hougan stated that privacy is becoming a core infrastructure direction for the next phase of the crypto industry. Recently, three institutional-grade blockchains focused on stablecoins and asset tokenization—Arc, Canton, and Tempo—have accumulated over $1 billion in total funding, indicating a rapidly growing demand from institutions for "privacy-friendly on-chain financial systems."Among them, stablecoin issuer Circle contributed $222 million in funding for Arc, giving it a valuation of approximately $3 billion; Digital Asset’s Canton blockchain is reportedly seeking $300 million in funding at a $2 billion valuation; and Tempo, backed by Stripe and Paradigm, has previously completed $500 million in funding at a valuation of $5 billion.Hougan noted that this funding wave reflects three major trends: the gradual clarification of the U.S. regulatory framework, increased institutional demand for on-chain privacy, and intensified competition among new blockchain networks supported by large enterprises. Current public blockchains still face structural trade-offs between speed, cost, security, and privacy. However, scenarios involving stablecoins and RWA tokenization require systems that simultaneously offer high performance, compliance, and privacy, making “verifiable privacy” a critical prerequisite for institutional adoption of on-chain finance.Hougan further stated that, for enterprises, “all transactions being publicly broadcast” is not an advantage but a potential flaw. In the future, users and institutions may find it increasingly difficult to accept a fully transparent on-chain financial environment. He believes that privacy capabilities could become the “killer app” driving the crypto industry into its next phase of mainstream adoption. Additionally, following the passage of the U.S. Genius Act in 2025, regulatory certainty has significantly increased, providing a clearer policy foundation for institutional funds to enter the crypto infrastructure space. (CoinDesk)
Anthropic Reportedly Considering New Funding Round, Valuation May Exceed $900 Billion
Anthropic is considering launching a new funding round, with a potential valuation possibly exceeding $900 billion. If the deal is completed, its valuation would surpass that of OpenAI, which previously completed a funding round.According to sources, some investors have already offered bids more than double its current valuation, but negotiations are still in early stages, and Anthropic has not accepted any offers yet. The company is currently valued at approximately $350 billion, primarily anchored by investments from Google and Amazon. It is also considering an IPO as early as October this year. (Bloomberg)
SEC Secures Final Judgment in NanoBit Crypto Fraud Case, Fines Exceed $5 Million
According to disclosures on the official website of the U.S. Securities and Exchange Commission (SEC), the U.S. District Court for the Eastern District of New York issued a default final judgment on June 16, 2026, regarding the NanoBit crypto fraud case, involving four entities and two individuals. Reportedly, since September 2023, the fraud participants, posing as financial professionals through WhatsApp groups, induced investors to deposit funds into the fake crypto trading platform NanoBit and promised high returns through fake ICO projects. The platform falsely claimed that its affiliate NanobitUS Securities was an SEC-registered broker-dealer, but in reality, no real transactions ever occurred on the platform; over $2 million in investor funds were transferred to Hong Kong bank accounts, and hundreds of thousands of dollars in crypto assets were misappropriated. The final judgment requires the defendants to pay a total of over $5 million in penalties, disgorgement, and interest, and permanently prohibits them from violating relevant securities laws.
Zcash Foundation Q1 Report: Total Liquid Assets Reach Approximately $36.7 Million, ZEC Holdings Exceed 85,000 Coins
The Zcash Foundation released its Q1 2026 report, disclosing total liquid assets of approximately $36.7 million, including roughly $12.11 million in cash, 506,556 USDC, 85,412 ZEC (valued at ~$21.2 million), 41.8 BTC (valued at ~$2.85 million), and 12.02 ETH (valued at ~$25,000). The Zcash Foundation added that, although the first quarter of this year saw personnel changes within the Electric Coin Company’s development team and governance-related disputes, network operations remained unaffected, with transactions and block production continuing normally. On the regulatory front, the U.S. Securities and Exchange Commission (SEC) has concluded its investigation without taking any enforcement action, thereby resolving long-standing regulatory uncertainty.
Bitwise CIO: Privacy Could Be the Next “Killer App,” Arc, Canton, and Tempo Exceed $1 Billion in Total Funding
Bitwise Chief Investment Officer Matt Hougan stated that privacy is becoming a core infrastructure direction for the next phase of the crypto industry. Recently, three institutional-grade blockchains focused on stablecoins and asset tokenization—Arc, Canton, and Tempo—have accumulated over $1 billion in total funding, indicating a rapidly growing demand from institutions for "privacy-friendly on-chain financial systems."Among them, stablecoin issuer Circle contributed $222 million in funding for Arc, giving it a valuation of approximately $3 billion; Digital Asset’s Canton blockchain is reportedly seeking $300 million in funding at a $2 billion valuation; and Tempo, backed by Stripe and Paradigm, has previously completed $500 million in funding at a valuation of $5 billion.Hougan noted that this funding wave reflects three major trends: the gradual clarification of the U.S. regulatory framework, increased institutional demand for on-chain privacy, and intensified competition among new blockchain networks supported by large enterprises. Current public blockchains still face structural trade-offs between speed, cost, security, and privacy. However, scenarios involving stablecoins and RWA tokenization require systems that simultaneously offer high performance, compliance, and privacy, making “verifiable privacy” a critical prerequisite for institutional adoption of on-chain finance.Hougan further stated that, for enterprises, “all transactions being publicly broadcast” is not an advantage but a potential flaw. In the future, users and institutions may find it increasingly difficult to accept a fully transparent on-chain financial environment. He believes that privacy capabilities could become the “killer app” driving the crypto industry into its next phase of mainstream adoption. Additionally, following the passage of the U.S. Genius Act in 2025, regulatory certainty has significantly increased, providing a clearer policy foundation for institutional funds to enter the crypto infrastructure space. (CoinDesk)
C1 Fund Report: Heavy Positions in Alchemy, Ripple and Other Crypto Projects, New Investments Exceed $10.47 Million
C1 Fund, a closed-end fund listed on the New York Stock Exchange, has released its Q4 and full-year financial reports for 2025. Its digital asset private investment strategy continues to expand, with portfolio optimization and liquidity events advancing simultaneously.As of the end of 2025, CFND's digital asset infrastructure investment portfolio includes industry-leading companies such as Alchemy, Blockchain.com, Chainalysis, Consensys, Figment, Kraken, and Ripple, covering core sectors including blockchain development, compliance analytics, trading platforms, and cross-border payments. In 2025, the fund made new investments exceeding $10.47 million in projects like BitGo, Fireblocks, and Polymarket (Blockratize Inc.), and completed additional allocations to holdings such as Ripple, further strengthening its deployment depth in the digital asset infrastructure space. (Businesswire)
Chainalysis: Predicts Stablecoin Transaction Volume Could Exceed $15 Trillion by 2035, Surpassing Global Cross-Border Payment Volume
According to Cointelegraph, blockchain analytics firm Chainalysis released a report stating that stablecoin-adjusted transaction volume is projected to reach $719 trillion by 2035—marking a substantial increase from $28 trillion in 2025. If two major macro catalysts align, this figure could double further to $15 trillion, surpassing the current annual global cross-border payment volume of approximately $10 trillion. The two catalysts are: (1) the transfer of over $100 trillion in wealth from the Baby Boomer generation to younger, crypto-native generations; and (2) stablecoins fully replacing traditional payment rails as the default payment infrastructure. Rachael Lucas, an analyst at Australian crypto exchange BTC Markets, noted that strategic moves—including Stripe’s acquisition of Bridge and Mastercard’s partnership with BVNK—are concrete steps forward. Coupled with regulatory clarity provided by the GENIUS Act, institutional participation is expected to expand significantly.
Serenity: Tech Giants' 2026 CapEx May Exceed Expectations; Bottleneck Assets Like Memory Chips Poised for Valuation Reshaping
"White-Haired Stock Guru" Serenity has summarized the capital expenditure guidance from the latest earnings reports of Amazon, Meta, Google, and Microsoft, stating that the four major tech giants are expected to allocate a combined capital expenditure of approximately $720 billion to $745 billion in 2026, exceeding the market's previous expectation of $695 billion to $725 billion. The market has recently experienced significant deleveraging, as well as position liquidations among retail and institutional investors due to margin pressures. While short-term adjustments may persist, it is difficult to maintain a bearish stance on upstream semiconductor companies and next-generation cloud computing infrastructure in the medium to long term.Serenity also proposed the "bottleneck investment" thesis, arguing that when trillions of dollars in capital flow into supply chain segments previously viewed as low-value commodities—such as memory chips and even enterprises in the energy infrastructure sector—these companies may undergo a valuation reshaping. Many currently popular AI supply chain companies were previously overlooked by the market during the telecommunications cycle. However, as AI infrastructure construction enters an acceleration phase and capital expenditure flows into their balance sheets, these enterprises may experience a repricing.
Bank of America: DRAM Price Hikes Far Exceed Expectations, Google Capex Boosts Storage Demand
According to TechFlow Research, Bank of America's Global Memory Weekly Report on July 24 pointed out that PC DRAM contract prices in July rose 15%-20% month-over-month, with Q3 month-over-month increases reaching 30%-40%, far exceeding TrendForce's forecast of 13%-18%, and spot prices strengthened simultaneously. South Korea's semiconductor exports in the first 20 days of July totaled $22.1 billion, up 181% year-over-year; China's memory imports in June reached $32 billion, hitting a record high, up approximately 250% year-over-year, while the impact of CXMT's capacity expansion remains limited. Bank of America analysts expect Google's capital expenditures in 2026/2027 to reach $200 billion/$300 billion respectively, a significant increase from $91 billion in 2025, implying that memory chip procurement in 2027 needs to be more than 50% higher than in 2026. Google's annual cash and equivalents from 2026-2028 will exceed $50 billion, which is a positive signal for memory chip capacity expansion. Samsung Electronics is expected to announce large-scale buybacks, early dividend payments, and more optimistic second-half/2027 guidance at its July 30 earnings conference call; Bank of America maintains a buy rating on Samsung.
Bloomberg ETF Analyst: Record 242 ETFs Launched in the US in June, Full-Year 2026 Could Exceed 1,450
Odaily Odaily News Bloomberg Senior ETF Analyst Eric Balchunas stated on platform X that the US ETF market is experiencing unprecedented expansion. A total of 242 ETFs were launched in June this year, setting a new single-month issuance record, equivalent to approximately 11 new products per day. In the first half of 2026, the number of newly added ETFs reached 730. At the current pace, the full-year total could surpass 1,450, significantly surpassing last year's record.Eric Balchunas particularly highlighted the aggressive expansion strategy of emerging issuer Corgi. Data shows that Corgi launched over 100 ETFs in June, already ranking as the sixth-largest ETF issuer. If the current issuance pace continues (the company still has about 350 ETFs in the registration stage), Corgi could overtake BlackRock by the end of this year to become the issuer with the highest number of ETFs in the market.Balchunas noted that it took BlackRock over 20 years to build its current ETF product lineup, whereas Corgi may achieve a similar scale in less than a year. However, growth in quantity does not necessarily mean a corresponding increase in capital inflow. Currently, some of Corgi's ETFs have attracted a certain amount of capital, but most products are still in a market cultivation phase. The average asset size of its ETF portfolio is approximately $4 million, compared to the overall ETF industry average of about $3 billion. Corgi still faces a significant challenge in attracting assets. Balchunas described Corgi's mass issuance strategy as "extremely bold," and its rapid expansion has undoubtedly become one of the most attention-grabbing phenomena in the current ETF market.
DTCC Custody Securities Exceed $114 Trillion, Subsidiary Processed $4,700 Trillion in Securities Transactions Last Year
Odaily, Bloomberg ETF analyst Eric Balchunas posted on X platform that DTCC holds over $114 trillion in custody securities, and its subsidiary processed securities transactions worth $4,700 trillion last year.
Robinhood Chain Sees Single-Day DEX Volume Exceed $560 Million, CASHCAT Market Cap Hits $100 Million in Five Hours
on-chain analyst Ai Yi posted on Platform X, stating that Memecoins are becoming the primary traffic gateway for Robinhood Chain. CASHCAT reached a market cap of $100 million within five hours, and Robinhood CEO @vladtenev participated in related discussions. Robinhood Chain saw over 10,000 new tokens launched in a single day, with DEX trading volume exceeding $560 million. Robinhood Chain is an L2 network. Users can add the network via wallets such as OKX, Binance, and MetaMask, with Chain ID 4663. The official Robinhood Wallet is available on iOS and Android mobile apps and features cross-chain functionality. Cross-chain methods on Robinhood Chain include the official cross-chain bridge, Robinhood Wallet, and third-party aggregators like Relay, Stargate, and Across. Withdrawals via the official cross-chain bridge have a 7-day waiting period. DEXs on the Robinhood Chain ecosystem include Uniswap and NOXA Fun. Meme tracking tools include DEXScreener and GMGN.
“Brother Maji” Significantly Reduced Long ETH Positions, Cumulative Losses Exceed $79.87 Million
According to on-chain analyst Onchain Lens (@OnchainLens), due to a sudden market downturn, “Brother Machi” (@machibigbrother) was forced to close most of his 25x-leveraged long ETH position, resulting in partial liquidation during the process.
Cryptocurrency Hacks Set Record in First Half of 2026, Losses Exceed $1 Billion
In the first half of 2026, losses from hacker attacks on cryptocurrency projects have exceeded $1 billion, with the number of verified attack incidents reaching a record high for the same period in history, described as "the half-year with the most hacker attacks on record." However, in terms of value, overall losses remain lower than the same period last year, mainly because a $1.5 billion attack incident occurred at Bybit in 2025, raising the baseline.
CertiK Hack3D Report: Web3 Losses Exceed $1.3 Billion in the First Half of 2026, Attacks Accelerate Towards High-Value Targets
Odaily, Web3 security firm CertiK has released the "Hack3D: First Half of 2026 Report." The report shows that the Web3 ecosystem experienced 344 security incidents in the first half of 2026, with cumulative losses of approximately $1.32 billion. Although this figure represents a 46.8% decrease compared to the same period last year, excluding the impact of the $1.45 billion security incident involving Bybit, the scale of losses in the first half of this year actually increased by approximately 28% year-on-year, indicating that the overall security environment in the industry has not materially improved.The report points out that wallet theft has become the attack type causing the greatest financial loss, accounting for approximately $450 million in losses in the first half of the year. Meanwhile, although the number of phishing attacks fell by more than 50% year-on-year, the loss amount only decreased by approximately 10.8%, reflecting that attackers are shifting towards high-net-worth individuals and institutional targets, carrying out more targeted high-value attacks.Furthermore, code vulnerabilities remain the most frequent type of attack, with 204 related incidents. CertiK believes that attackers are increasingly targeting long-running legacy smart contracts that lack re-audits. The report also shows that mega-attacks continue to dominate industry losses, with the Kelp DAO and Drift Protocol incidents alone causing approximately $577 million in losses, accounting for 44% of the total losses in the first half of the year. Looking at the number of incidents, the impact of single attacks, and the changing attack patterns, the Web3 industry is facing more complex and continuously escalating security challenges.
SecondFi: On-Chain Recovery Plan More Complex Than Expected, Recovery May Exceed Two Weeks
: Cardano wallet service provider SecondFi has released an update on the security incident recovery progress, stating that EMURGO has established an asset recovery fund to return assets to users affected by the attack.SecondFi stated that emergency measures have been taken to protect and restore access to some assets. The team is currently discussing appropriate custody mechanisms with Intersect to ensure the safe return of assets to users.Furthermore, SecondFi is collaborating with a Cardano community-led working group to advance the on-chain recovery plan. Due to the recovery plan being more complex than initially expected, the overall recovery time may exceed the previously estimated two weeks.
SlowMist's Cos: SecondFi User Losses May Exceed $20 Million
: In response to the recent security incident involving Cardano ecosystem project SecondFi, SlowMist founder Cos said on social media that after continuously monitoring the relevant on-chain data, he believes that if the two addresses starting with "addr1q" are both controlled by the attacker, the actual losses for SecondFi users may have exceeded $20 million.Cos stated that based on on-chain behavior analysis, the aforementioned addresses are highly likely related to the attacker, involving stolen assets potentially exceeding 129 million ADA and other tokens.Previously, SecondFi disclosed that this security incident affected approximately 16 million ADA, stating that the issue originated from the web wallet generation software.
Aztec Network Attacked, Losses Exceed $2.15 Million; Root Cause is a Mismatch Between ZK Proof and L1 Settlement Boundaries
According to analysis by BlockSec Phalcon (@Phalcon_xyz), Aztec Network's RollupProcessorV3 contract was attacked, resulting in losses exceeding $2.15 million. The root cause is that `numRealTxs` was not effectively bound to the transaction set enforced by the ZK proof, causing a deviation between the proof verification path and the L1 settlement logic's interpretation of the transaction list.The attacker exploited this vulnerability to move real deposits to slots not processed by the settlement logic, bypassing the `decreasePendingDepositBalance()` function. By creating unbacked private balances out of thin air, they were able to withdraw funds through the normal settlement process. A total of seven assets were involved.
Humanity Protocol Attacked, Losses Exceed $31 Million
According to Specter (@SpecterAnalyst), Humanity Protocol has been hacked, with losses exceeding $31 million. Funds are still being transferred, and the attacker is converting H into ETH.
Axe Compute Signs $1.5 Billion AI Infrastructure Contract, Cumulative Signed Contracts Exceed $3 Billion by 2026
Axe Compute announced the signing of a five-year dedicated AI infrastructure contract with a customer, totaling over $1.5 billion. Under the agreement, the company will deploy a cluster of approximately 9,200 NVIDIA Blackwell B300 GPUs in the United States to support production-grade AI workloads, including real-time inference and continuous fine-tuning.
Axe Compute Signs Over $1.3 Billion AI Infrastructure Contract, ARR Expected to Exceed $384 Million After Deployment
Axe Compute (NASDAQ: AGPU) announced that the company has signed new customer contracts totaling over $1.3 billion in the United States and Europe, exceeding the full-year 2026 signing target of $1 billion ahead of schedule. The relevant contracts were secured through the Axe Compute Build program, under which the company will design, deploy, hold, and operate dedicated AI infrastructure for customers, who can independently select GPU types, deployment regions, and infrastructure configurations.
Robinhood Chain Sees Single-Day DEX Volume Exceed $560 Million, CASHCAT Market Cap Hits $100 Million in Five Hours
on-chain analyst Ai Yi posted on Platform X, stating that Memecoins are becoming the primary traffic gateway for Robinhood Chain. CASHCAT reached a market cap of $100 million within five hours, and Robinhood CEO @vladtenev participated in related discussions. Robinhood Chain saw over 10,000 new tokens launched in a single day, with DEX trading volume exceeding $560 million. Robinhood Chain is an L2 network. Users can add the network via wallets such as OKX, Binance, and MetaMask, with Chain ID 4663. The official Robinhood Wallet is available on iOS and Android mobile apps and features cross-chain functionality. Cross-chain methods on Robinhood Chain include the official cross-chain bridge, Robinhood Wallet, and third-party aggregators like Relay, Stargate, and Across. Withdrawals via the official cross-chain bridge have a 7-day waiting period. DEXs on the Robinhood Chain ecosystem include Uniswap and NOXA Fun. Meme tracking tools include DEXScreener and GMGN.
USDD Releases June Transparency Report: Smart Allocator Cumulative Earnings Exceed $20 Million, Yield Strategy Continues to Diversify
Decentralized stablecoin USDD officially released its June transparency report. Data shows that as of the end of June, USDD's total collateralized assets reached $2.03 billion, the peak circulation volume for the month reached $1.42 billion, and the over-collateralization ratio at the end of the month was 149.35%, fully demonstrating strong stability and risk buffer capabilities. Additionally, Smart Allocator generated $2.16 million in new revenue this month, with cumulative revenue reaching $21.29 million. In terms of ecosystem progress, Morpho successfully launched the PT-sUSDD market and has integrated with Singularry AI; sUSDD TVL on the Pendle market exceeded $30 million.
CertiK Hack3D Report: Web3 Losses Exceed $1.3 Billion in the First Half of 2026, Attacks Accelerate Towards High-Value Targets
Odaily, Web3 security firm CertiK has released the "Hack3D: First Half of 2026 Report." The report shows that the Web3 ecosystem experienced 344 security incidents in the first half of 2026, with cumulative losses of approximately $1.32 billion. Although this figure represents a 46.8% decrease compared to the same period last year, excluding the impact of the $1.45 billion security incident involving Bybit, the scale of losses in the first half of this year actually increased by approximately 28% year-on-year, indicating that the overall security environment in the industry has not materially improved.The report points out that wallet theft has become the attack type causing the greatest financial loss, accounting for approximately $450 million in losses in the first half of the year. Meanwhile, although the number of phishing attacks fell by more than 50% year-on-year, the loss amount only decreased by approximately 10.8%, reflecting that attackers are shifting towards high-net-worth individuals and institutional targets, carrying out more targeted high-value attacks.Furthermore, code vulnerabilities remain the most frequent type of attack, with 204 related incidents. CertiK believes that attackers are increasingly targeting long-running legacy smart contracts that lack re-audits. The report also shows that mega-attacks continue to dominate industry losses, with the Kelp DAO and Drift Protocol incidents alone causing approximately $577 million in losses, accounting for 44% of the total losses in the first half of the year. Looking at the number of incidents, the impact of single attacks, and the changing attack patterns, the Web3 industry is facing more complex and continuously escalating security challenges.
SemiAnalysis: Nvidia System Memory Spending Share Expected to Exceed 40% by 2027
SemiAnalysis posted on X platform, stating that the proportion of memory in hyperscaler capital expenditure has sparked considerable discussion, especially after MU's earnings report last week. Some market participants were surprised by the potential level this ratio could reach next year. SemiAnalysis published its initial views in late February, and many clients disagreed with its 30% figure. In May, after pricing increases exceeded expectations, SemiAnalysis responded that, when combining DRAM, NAND, and HBM spending, memory expenditure in Nvidia systems would exceed 30% by the end of 2026 and surpass 40% by 2027. SemiAnalysis expects this dynamic to gain greater understanding in the coming months.
Related news
Serenity: Tech Giants' 2026 CapEx May Exceed Expectations; Bottleneck Assets Like Memory Chips Poised for Valuation Reshaping
"White-Haired Stock Guru" Serenity has summarized the capital expenditure guidance from the latest earnings reports of Amazon, Meta, Google, and Microsoft, stating that the four major tech giants are expected to allocate a combined capital expenditure of approximately $720 billion to $745 billion in 2026, exceeding the market's previous expectation of $695 billion to $725 billion. The market has recently experienced significant deleveraging, as well as position liquidations among retail and institutional investors due to margin pressures. While short-term adjustments may persist, it is difficult to maintain a bearish stance on upstream semiconductor companies and next-generation cloud computing infrastructure in the medium to long term.Serenity also proposed the "bottleneck investment" thesis, arguing that when trillions of dollars in capital flow into supply chain segments previously viewed as low-value commodities—such as memory chips and even enterprises in the energy infrastructure sector—these companies may undergo a valuation reshaping. Many currently popular AI supply chain companies were previously overlooked by the market during the telecommunications cycle. However, as AI infrastructure construction enters an acceleration phase and capital expenditure flows into their balance sheets, these enterprises may experience a repricing.
Cryptocurrency Hacks Set Record in First Half of 2026, Losses Exceed $1 Billion
In the first half of 2026, losses from hacker attacks on cryptocurrency projects have exceeded $1 billion, with the number of verified attack incidents reaching a record high for the same period in history, described as "the half-year with the most hacker attacks on record." However, in terms of value, overall losses remain lower than the same period last year, mainly because a $1.5 billion attack incident occurred at Bybit in 2025, raising the baseline.
Axe Compute Signs $1.5 Billion AI Infrastructure Contract, Cumulative Signed Contracts Exceed $3 Billion by 2026
Axe Compute announced the signing of a five-year dedicated AI infrastructure contract with a customer, totaling over $1.5 billion. Under the agreement, the company will deploy a cluster of approximately 9,200 NVIDIA Blackwell B300 GPUs in the United States to support production-grade AI workloads, including real-time inference and continuous fine-tuning.
Bank of America: DRAM Price Hikes Far Exceed Expectations, Google Capex Boosts Storage Demand
According to TechFlow Research, Bank of America's Global Memory Weekly Report on July 24 pointed out that PC DRAM contract prices in July rose 15%-20% month-over-month, with Q3 month-over-month increases reaching 30%-40%, far exceeding TrendForce's forecast of 13%-18%, and spot prices strengthened simultaneously. South Korea's semiconductor exports in the first 20 days of July totaled $22.1 billion, up 181% year-over-year; China's memory imports in June reached $32 billion, hitting a record high, up approximately 250% year-over-year, while the impact of CXMT's capacity expansion remains limited. Bank of America analysts expect Google's capital expenditures in 2026/2027 to reach $200 billion/$300 billion respectively, a significant increase from $91 billion in 2025, implying that memory chip procurement in 2027 needs to be more than 50% higher than in 2026. Google's annual cash and equivalents from 2026-2028 will exceed $50 billion, which is a positive signal for memory chip capacity expansion. Samsung Electronics is expected to announce large-scale buybacks, early dividend payments, and more optimistic second-half/2027 guidance at its July 30 earnings conference call; Bank of America maintains a buy rating on Samsung.
Active Stock Market Drives South Korea's Top Five Financial Groups' First-Half Net Profit to Exceed 13 Trillion Won, Securities Business Becomes Main Growth Engine
According to Korean media Asiae, buoyed by the active South Korean stock market, South Korea's five major financial groups (KB Financial Group, Shinhan Financial Group, Hana Financial Group, Woori Financial Group, NH Financial Group) achieved a combined net profit of 13.12 trillion won in the first half of 2026, a year-on-year increase of approximately 10%. Among them, KB Financial Group continued to rank first with a net profit of 3.88 trillion won, while Shinhan Financial Group ranked second with 3.44 trillion won.
Axe Compute Signs Over $1.3 Billion AI Infrastructure Contract, ARR Expected to Exceed $384 Million After Deployment
Axe Compute (NASDAQ: AGPU) announced that the company has signed new customer contracts totaling over $1.3 billion in the United States and Europe, exceeding the full-year 2026 signing target of $1 billion ahead of schedule. The relevant contracts were secured through the Axe Compute Build program, under which the company will design, deploy, hold, and operate dedicated AI infrastructure for customers, who can independently select GPU types, deployment regions, and infrastructure configurations.