UBS raised its target price for SK Hynix to 3.2 million won and maintained its buy rating.
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Morgan Stanley reiterated its "overweight" rating on RKLB and raised its bullish price target to $293.
Odaily Odaily that Morgan Stanley reiterated its "Overweight" rating on Rocket Lab (RKLB) and maintained its target price of $105, but raised its most bullish target price from $185 to $293. Morgan Stanley analysts believe that the acquisition of Iridium will expand Rocket Lab's potential market space and reposition the company as a vertically integrated space platform. While SpaceX has significant scale and cost advantages over Rocket Lab, the latter is moving closer to the former's model.
JPMorgan: Open source weight commercialization exhibits a "winner-takes-all" phenomenon; Zhipu target price raised to HK$2,000, MiniMax target price cut to HK$300.
According to BlockBeats, on July 8th, JPMorgan Chase released a research report stating that currently competitive models in the market can expand adoption through open-source weighting and continue to monetize through official APIs, partner channels, enterprise deployments, and workflow products; while weaker models face faster price comparisons and traffic fragmentation. JPMorgan Chase raised its revenue forecasts for Zhipu from 2026 to 2030 by 3% to 9%, and narrowed its adjusted loss forecasts for 2026 and 2027 to RMB 3.711 billion and RMB 3.141 billion respectively. The 2028 forecast was revised from a loss of RMB 1.287 billion to a profit of RMB 2.367 billion. The target price was raised from HKD 1800 to HKD 2000, maintaining an "Overweight" rating. The report believes that the performance of GLM-5.5/6, KimiK3, and DeepSeekV4.1 will be key indicators of whether Zhipu can maintain its leading position. JPMorgan lowered its revenue forecasts for MINIMAX-W (2027-2030) by 2% to 8%, and reduced its target price from HK$400 to HK$300, while maintaining a "neutral" rating. The company noted that the M3 model offers a permanent 50% discount, reflecting that the model has not yet created a significant capability premium for leading domestic competitors. JPMorgan believes that if MiniMax can narrow the capability gap, normalize the discount, maintain API usage, and demonstrate stronger workflow stickiness through MiniMaxCode, its outlook could turn positive.
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)
Huakang Medical: A consortium won the EPC project for the Jiufengshan semiconductor manufacturing base; the company expects its share to be approximately RMB 180 million.
According to Mars Finance, Huakang Medical (301235.SZ) announced that a consortium formed by the company and China Construction Third Engineering Bureau, among others, won the bid for Section 2 of the "Jiufengshan Semiconductor Manufacturing Base Project EPC Project," with a winning bid amount of 1.956 billion yuan. Huakang Medical, as a member of the consortium, is expected to have a share of approximately 180 million yuan. The project covers approximately 214 mu (about 14.6 hectares) of land, with a total construction area of 390,000 square meters, and will be used for the research and development and production of semiconductor epitaxial wafers/substrates. As of the date of the announcement, the consortium has not yet received the "Letter of Award," and the subsequent signing of the contract remains uncertain. (Cailian Press)
SpaceX was officially included in the Nasdaq 100 index this week; historical warnings point to post-inclusion volatility. TeraWulf's Q1 HPC leasing revenue surpassed mining's high-margin annualized revenue of $630 million for the first time.
According to ChainCatcher and BBX data, the world's largest IPO completed its index inclusion milestone yesterday, marking a historic turning point in the valuation logic of mining companies' AI transformation. Key developments are as follows: SpaceX, Inc. (NASDAQ: $SPCX) was officially included in the Nasdaq 100 index this week, becoming the first company in history to have its largest single IPO ($75 billion) included in the Nasdaq 100. CoinDesk also issued a historic warning: "The previous two largest additions to the index—Palantir ($PLTR) in December 2024 and Strategy ($MSTR) in early 2025—both experienced a period of decline after inclusion, rather than initiating a new round of growth." Analysts pointed out that passive funds tracking the Nasdaq 100 completed a "forced buy" at the time of inclusion, and without new fundamental catalysts, the stock price often corrects after the technical buying subsides. SpaceX currently faces specific risks including: a net loss of approximately $4.27 billion in Q1 2026 (primarily due to xAI integration expenses), a $2 billion bond issuance plan, and a 3.4% equity dilution from the $60 billion acquisition of Cursor/Anysphere; Morningstar maintains its fair value estimate of $62 per share, implying a downside of approximately 70% from the current market price. For the market holding SpaceX Bitcoin (18,712 coins, approximately $1.2 billion, custodied in Coinbase Prime), Nasdaq 100 inclusion will trigger larger-scale SPCX holdings by passive funds, further narrowing the indirect exposure of traditional index investors to Bitcoin assets. According to the latest analysis, TeraWulf Inc. (NASDAQ: $WULF) reported $21 million in high-performance computing (HPC) leasing revenue in Q1 2026, accounting for approximately 62% of its total revenue of $34 million. This marks the first time TeraWulf has surpassed Bitcoin mining revenue—a historic reversal in revenue structure since its transformation into an AI/HPC infrastructure company. This represents a 117% increase compared to the $9.7 million in HPC revenue in Q4 2025. The company currently has AI/HPC leases totaling over 522 megawatts signed with Core42 and Fluidstack, with an expected annualized high-margin revenue of approximately $630 million. Its energy mix consists of nuclear power and hydropower, with an average electricity cost of approximately $0.035/kWh, among the lowest of its peers in the mining industry. The company is also developing a new campus in Kentucky, adding approximately 480 megawatts of grid connection capacity; analysts have significantly raised their target price range, with Keefe Bruyette & Woods from $23 to $37, and Clear...
Data shows that a whale previously bought $5.455 million worth of SK Hynix shares at a premium on Binance; if it still holds them, it would have a paper loss of $1.12 million.
According to Mars Finance, on-chain analyst @ai_9684xtpa reported that a whale bought $5.455 million worth of SK Hynix shares at a premium on Binance. If still holding, the whale would have suffered a paper loss of $1.12 million. The entry price was approximately $1,800.