SK Hynix: Plans to use net proceeds from its US ADR offering for 45.5 trillion won in construction capital expenditures.
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MiniMax plans to launch a large model with 2.7 trillion parameters.
PANews reported on July 8th that, according to sources, AI company MiniMax is developing a new large-scale language model with 2.7 trillion parameters, exceeding the scale of all currently available domestic AI models. The sources stated that this new model is expected to be released as early as the third quarter of this year. Internal employees involved in the development have designated it as M3 Pro, but it is unclear whether the company will use this name in the official release. MiniMax plans to open-source the model. This new model is significantly larger than MiniMax's current flagship model, M3 (428 billion parameters). Larger-scale AI models are better suited for handling complex reasoning and multi-step instruction tasks.
Sources indicate that SK Hynix will close its $28 billion ADR book-building process on Wednesday due to oversubscription.
According to Mars Finance, an insider revealed that SK Hynix will close the book-building process for its $28 billion American Depositary Receipts (ADRs) on Wednesday (US time), as subscription orders have been oversubscribed several times. The source stated that this offering by the South Korean chipmaker is one of the largest IPOs in history globally. Its underwriters have informed investors that the book-building will close at 4 p.m. Eastern Time, pricing guidance will be released after the close of the South Korean stock market on Thursday, and the allocation results will be finalized later on Thursday (US time). SK Hynix previously stated in a filing that it would determine the final price of its ADRs on Thursday and begin trading on Nasdaq on July 10. The source said that US investors submitted large orders, with minimum orders around $200 million and some exceeding $1 billion. (Cailian Press)
Base plans to officially activate the B20 token standard on mainnet on July 9th.
According to Foresight News , Base plans to officially activate the B20 token standard on mainnet at 2:00 AM Beijing time on July 9th. Base had previously scheduled the activation of the B20 token format for 2:00 AM on June 27th, but this was subsequently postponed due to stability concerns. B20 is Base's native token format, designed to improve user experience through a faster, lower-cost, and more standardized settlement mechanism, enabling global financial assets to exist on Base in the form of programmable capital and achieve on-chain composability.
MiniMax plans to launch a large-scale model with 2.7 trillion parameters.
Mars Finance reported on July 8th that Rare Earth Technology plans to launch a new generation of large-scale models with 2.7 trillion parameters. (Science and Technology Innovation Board Daily)
Dollar sell-off occurred in the USD/KRW forward market in connection with the SK Hynix ADR listing.
According to Odaily Odaily, sources say there has been a sell-off of US dollars in the USD/KRW forward market related to the SK Hynix ADR listing. (Jinshi)
VanEck executive: Strategy's $135 million Bitcoin sale last week did not use up its BTC Monetization Program quota.
According to ChainCatcher, Matthew Sigel, Head of Digital Asset Research at VanEck, stated on the X platform that, based on Strategy's latest 8-K filing, Strategy's $135 million Bitcoin sale last week did not utilize the $1.25 billion BTC Monetization Program quota. This is because the program only restricts sales used to replenish cash reserves; sales directly used to pay dividends are not included in this limit. Sigel points out that this means Strategy's actual Bitcoin sales capacity exceeds the commonly understood $1.25 billion.