Macro
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HashKey Exchange receives JPMorgan approval to open client money accounts
This approval comes weeks after the exchange launched customer fund accounts with DBS Bank.
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Japanese retail group Seven & i Holdings has secured 300 billion yen (approximately $1.91 billion) through a third-party allotment of shares to SoftBank, PayPay, and Sumitomo Mitsui Card. This funding aims to deepen their strategic alliance in digital payments and AI-driven store operations.
Under the agreement announced on July 31, each investor will subscribe for 100 billion yen, acquiring 48.3 million shares of Seven & i's common stock. This capital alliance aims to combine Seven & i's
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Microsoft CEO Nadella states CPUs are as important as GPUs for running AI agents, hinting at a shift in the structure of AI hashrate demand.
Microsoft CEO Satya Nadella stated on an earnings call that CPUs are just as important as GPUs for running AI agents. The company also noted that as AI demand evolves, the CPU to GPU ratio is shifting
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Microsoft expects to achieve positive free cash flow in fiscal year 2027, indicating that its AI investments are sustainable and do not require significant borrowing.
Microsoft stated that despite its AI build-out still requiring high capital expenditures, it expects to achieve positive free cash flow in fiscal year 2027. This allays investor concerns about AI inve
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13 U.S. States Advance Efforts to Eliminate Tax Incentives for Data Centers, Potentially Increasing AI Hashrate Costs by $3 Billion Per Gigawatt
A wave of US states are revoking tax breaks for data centers, putting pressure on the cost of large-scale AI infrastructure construction for tech giants. Four states have already canceled or suspended
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Samsung Foundry's capacity utilization rate is expected to reach 100% within the year, with a chance to turn a profit.
Samsung Electronics' foundry business in South Korea is at a critical turning point, with its capacity utilization rate expected to reach 100% in the second half of this year, driven by demand for HBM
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Google's off-balance sheet guarantees surged nearly sixfold to $43.8 billion in nine months, exchanging "financial backstops" for TPU chip orders
Google's parent company, Alphabet, disclosed that its potential financial guarantees for data center tenant defaults have surged from $6.5 billion at the end of September last year to $43.8 billion, a
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China's CXMT Considers Second Memory Chip Plant in Beijing, in Financing Talks with Government-Backed Hub
China's CXMT is reportedly considering building a second memory chip plant in Beijing and is currently engaged in financing talks with a local government-backed technology and manufacturing hub for th
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Bloomberg Opinion Columnist David Fickling: Tungsten Market Is a "Century-Old Prediction Market for War"
Fickling highlights tungsten's critical role in war manufacturing due to its high density and melting point, noting its increasing geopolitical necessity.
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Goldman Sachs warns Russian factor is causing tight diesel supply
Samantha Dart, co-head of global commodities research at Goldman Sachs, said that disruptions to Russian fuel exports are leading to tight diesel supplies, raising concerns about global refining capac
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Kim Yong-beom, Director of the Office of Policy at the South Korean Presidential Office, has been accused of abuse of power, suspected of hastily pushing for the listing of a single-stock leveraged ETF.
According to an August 3 report by South Korea's JoongAng Ilbo, former Seoul City Council member Lee Jong-bae has officially reported Kim Yong-beom, Chief of Staff for Policy to the President of South
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JD.com launches AI-enabled smart helmet for delivery riders, following similar roll-outs by Alibaba and Meituan
The Chinese e-commerce giant's food delivery unit announced the launch of a smart helmet that integrates an AI-driven voice assistant with a camera. This initiative follows similar deployments by riva
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China's National Social Security Fund boosts stakes in A-share firms in first 7 months of 2026, targeting tech sectors
Data shows China's National Social Security Fund increased its holdings in onshore A-share companies during the first seven months of this year, concentrating 58.96% of its total portfolio value in se
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The KOSPI index plunged over 5% on Monday. South Korean regulators plan to grant "emergency action authority" to directly lower the leverage multiple of single-stock leveraged ETFs to a minimum of 1x.
South Korea's KOSPI index plunged 5% on Monday (August 3), closing at 6241 points, while the KOSDAQ index's decline triggered a circuit breaker. In response to continuous severe market volatility, Sou
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Elon Musk retweeted that his AI model, Grok, is now capable of analyzing any video, including identifying AI-generated content and explaining it frame by frame.
Elon Musk retweeted that his AI model, Grok, is now capable of analyzing any video, including identifying AI-generated content and explaining it frame by frame. This development marks a significant st
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Ukrainian officials fear the coming winter will be the toughest test since Russia's full-scale invasion, as Russia intensifies missile attacks and Ukraine faces a shortage of air defense systems.
Ukrainian officials, drone industry executives, and national security experts are bracing for another extremely difficult winter, fearing that Russian attacks on energy infrastructure could pose the m
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Bank of Japan (BOJ) forecasts Japan's economy to grow moderately but decelerate in FY2026, then pick up from FY2027
The Bank of Japan (BOJ) released its July 2026 Outlook for Economic Activity and Prices, expecting Japan's economy to continue growing moderately in fiscal 2026, albeit at a decelerated rate. This dec
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Bank of Japan (BOJ) expects CPI to accelerate above 2% in H2 FY2026, then decline towards 2%; risks to CPI outlook skewed to upside
The Bank of Japan (BOJ) released its July 2026 Outlook for Economic Activity and Prices, projecting that the year-on-year rate of increase in the consumer price index (CPI, all items less fresh food)
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Alibaba's Hong Kong stocks rose over 6% during intraday trading, following the release of its flagship model Qwen3.8 and the start of public beta testing for "Qianwen Office."
Alibaba released its flagship model Qwen3.8 on August 3rd and simultaneously launched the public beta of "Qwen Office." This move is seen by the market as a crucial part of its AI narrative, with the
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Strategists Say US Treasury May Use Euros to Buy Yen to Avoid Weakening Dollar and Casting Doubt on Strong Greenback Policy
Strategists suggest the US Treasury may be using euros rather than dollars to fund its yen purchases. This approach aims to avoid weakening its own currency and prevent casting doubt on its strong gre
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Taiwan Security Chief Says China's 'Hybrid Warfare' Tests Whole Region
Joseph Wu, Secretary-General of Taiwan’s National Security Council, stated that China's "hybrid warfare" presents a fresh challenge to the entire region. He specifically highlighted China's mass deplo
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Goldman Sachs: AI Giants’ Capital Expenditures Are “Astounding,” but the Returns Are Equally Impressive; Amazon’s Annualized AI Revenue Has Exceeded $25 Billion, with Triple-Digit Year-Over-Year Growth
Goldman Sachs In his latest weekly report, analyst Mark Wilson noted that hyperscale cloud computing companies are demonstrating staggering levels of capital expenditures and returns. Goldman Sachs fo
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Goldman Sachs: The world is entering “the largest cycle of capital demand in human history”; factors such as AI and reindustrialization are driving capital costs higher, and the Federal Reserve is merely a “passenger”
Goldman Sachs Mark Wilson, Head of European Hedge Fund Operations, noted in his latest weekly report that the global economy is moving beyond the era of “excess savings” and entering “the most capital
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India's IPO Boom Fades, Proceeds Down a Fifth as Weak Markets Force Issuers to Cut Deal Sizes and Delay Listings
India's initial public offering (IPO) boom is fading, with proceeds down by a fifth from a year earlier. This slowdown is attributed to weak market conditions, which are compelling companies to reduce
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Chinese Insurer Ping An Eyes Hong Kong ETFs After Beijing Greenlights Cross-Border Investment
Ping An's board secretary, Richard Sheng, stated that allowing mainland insurance funds to invest in Hong Kong-listed ETFs is expected to strengthen the ties between Hong Kong and mainland capital mar
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NATO member Romania scrambles F-16 jets to destroy drone near critical European gas project, accusing Russia of deployment
Romania's President Nicușor Dan accused Russia of deploying the marine drone, which was destroyed on Thursday near the Neptun Deep gas project in the Black Sea. Once developed, Neptun Deep is expected
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Venezuela's Oil Exports Capped by Aging Ports, Tankers Face Up to 30-Day Delays, Threatening US-Backed Expansion
Venezuela's aging oil terminals are limiting its export recovery, with tankers waiting up to 30 days to load due to equipment failures, power outages, and crude-quality problems. Despite rising produc
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Wolfe Research: S&P 500 Earnings Momentum Hits Historic Levels, with 69% of Q2 Revenue Beats and 64% of Q3 Guidance Exceeding Forecasts
Wolfe Research reports that S&P 500 earnings remain exceptionally strong. Of 465 companies reporting Q2 results, 69% beat revenue expectations. Additionally, 64% of firms issuing Q3 guidance exceeded
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WSJ: European Companies See Best Earnings Season in Years, Drawing Investor Interest
The Wall Street Journal reports that European companies have recorded their best earnings season in years, leading investors to increasingly notice the region's overlooked market value. For example, E
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Bloomberg MLIV: Dollar Depreciation Is Sustainable
Bloomberg MLIV analysts and investors on "Bloomberg: The Opening Trade" discussed key themes, with the view that dollar depreciation is sustainable.
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Independent writer Jasmine Sun highlights AI industry's misjudgment of public backlash against data centers
Sun notes that the AI industry, despite anxieties over job losses and rogue AI, was blindsided by the public's strong opposition to data center construction, a trend that was previously uncontroversia
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Podcast: AI Industry Misjudges Public Backlash, Underestimates Discontent Over Data Center Construction
Bloomberg's "Odd Lots" podcast points out that AI industry insiders have been concerned for years about issues such as AI potentially leading to job losses and human extinction, yet they have overlook
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ECB Survey: Eurozone Consumer Inflation Expectations for Next 12 Months Fall to 2.9% in July, Economic Growth Outlook Improves Slightly
The European Central Bank's (ECB) Consumer Expectations Survey for July 2026 revealed that median expectations for inflation over the next 12 months decreased to 2.9% from 3.0% in June. Similarly, inf
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T. Rowe Price fund manager says Nigerian stocks still attractive despite 64% rally
Johannes Loefstrand, a fund manager at T. Rowe Price Group who oversees about $300 million in frontier market assets, is “excited” about the prospects for Africa’s most populous nation. Nigeria’s NGX
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Goldman Sachs: Slower Inflation Is the Best Path to Lower US Government Bond Yields
Goldman Sachs: Slower Inflation Is the Best Path to Lower US Government Bond Yields
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Goldman Sachs Enters India's Government Equity Sale Market, Breaking Long-Standing Dominance of Local Financial Giants
Goldman Sachs Group is entering the Indian government's equity sale arena, a domain long exclusive to local financial giants. This marks Goldman Sachs' first underwriting of a government deal since 20
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South Korean stocks saw a net outflow of $22.9 billion in foreign capital in July, with British investors leading the sell-off, while U.S. funds continued to buy.
Foreign investors net sold 31.7 trillion won (approximately $22.9 billion) worth of listed stocks in July, marking the seventh consecutive month of net selling, according to data released by South Kor
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Hui Ka Yan, founder of China Evergrande, has been sentenced to life imprisonment by a Shenzhen court and fined 8.82 billion yuan (approximately 1.31 billion US dollars).
The ruling marks a symbolic end to the era of runaway growth in China's real estate sector.
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Goldman, JPMorgan Are Among Most Bullish on Europe
Goldman, JPMorgan Are Among Most Bullish on Europe
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Sfakianakis: Iran Misjudges US Willingness for Long War
Sfakianakis: Iran Misjudges US Willingness for Long War
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South Korean Lawmakers Propose Expanding FIU Powers to Investigate Unregistered Crypto Firms and Refer Them Directly to Law Enforcement
South Korean Lawmakers Propose Expanding FIU Powers to Investigate Unregistered Crypto Firms and Refer Them Directly to Law Enforcement
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Iran's oil supply to Chinese refineries is rapidly depleting due to U.S. sanctions.
Bloomberg reported that Iranian oil available to Chinese buyers is rapidly depleting, indicating that the U.S. blockade of Iranian ports has effectively cut off Tehran's revenue.
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Goldman Sachs: Hedge Funds Underperformed S&P 500 in July, Worst in Over 20 Years
Goldman Sachs strategists stated that hedge funds underperformed the S&P 500 in July, marking their worst single-month performance in over two decades, primarily due to the fading momentum of AI. The
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Indonesia seeks expanded joint military exercises with China
Indonesian Defense Minister Sjafrie Sjamsoeddin called for broader and more intensive joint military exercises with China during a bilateral meeting with his Chinese counterpart, Adm. Dong Jun, in Jak
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Bloomberg: Asia's emerging market small-cap AI companies led gains this month, as investors shifted from chip giants to data center-related small-caps, with some surging as much as 90%.
Bloomberg reported that the rally in emerging market technology stocks is spreading to new companies, as investors shift their focus from chip manufacturing giants to smaller firms powering data cente
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Ukraine seeks Elon Musk's help to use Starlink-equipped drones to strike Russian missile launchers up to 200km inside Russia
Ukraine seeks Elon Musk's help to use Starlink-equipped drones to strike Russian missile launchers up to 200km inside Russia
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Samsung Electronics' labor union plans to hold a rally in Seoul on Friday afternoon to protest the widening pay gap with its semiconductor division.
The union primarily represents employees in Samsung's consumer device business, with its members concentrated in the Device eXperience (DX) division. The rally takes place against a backdrop where an
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Economists warn Taiwan's AI-fueled 11.05% GDP growth forecast for 2026 is likely unsustainable, citing risks from capex slowdowns and semiconductor concentration
Taiwan's statistics agency recently projected an 11.05% GDP growth for 2026, an increase from its 9.64% forecast in May. However, economists from Maybank, Tiger Fund Management, BMI, EIU, and UOB sugg
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Macro
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TAO (Bittensor) recorded a trading volume of $2.3 million in the past hour (14.7 times its 7-day average for the same period), currently trading at $212.000.
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Samsung Electronics expected to approve $72bn shareholder return program at Aug. 21 board meeting
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<p>The Financial Times analysis points out that Donald Trump is losing the rare earths independence war.</p>
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