Nvidia considers $10B investment in potential record Anthropic IPO: Reuters
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AI investment boom faces a crucial test: SK Hynix's US IPO may be a key indicator.
According to Odaily Odaily, South Korean memory chip giant SK Hynix plans to list on Nasdaq this Friday, becoming another major technology company to go public in the US after SpaceX. SK Hynix reportedly plans to raise approximately $28 billion through the issuance of American Depositary Receipts (ADRs). As a key supplier to Nvidia, SK Hynix primarily produces high-bandwidth memory (HBM), DRAM, and NAND flash memory products, and its business is benefiting from the increased storage demand driven by the expansion of AI infrastructure. Market analysts believe that SK Hynix's US listing will be a crucial test of investor interest in the next wave of AI technology IPOs. Over the past 12 months, its South Korean-listed shares have surged by approximately 770%, exceeding the roughly 700% increase of its competitor Micron Technology during the same period. SK Hynix's listing reflects the expanding investment boom in the AI industry chain, moving from large-scale models and computing chips to memory and the semiconductor supply chain. The market anticipates a potential surge in large AI and technology company IPOs in the second half of 2026. (Fortune)
SpaceX's IPO drives record-breaking tokenized stock trading, with on-chain transaction volume reaching $3.86 billion in June.
According to Odaily, driven by the buzz surrounding SpaceX's initial public offering (IPO), the tokenized stock market saw record trading activity in June, with on-chain transaction volume reaching $3.86 billion, a 145% increase from May. Of this, tokenized SpaceX stock accounted for $1.19 billion, representing approximately 31% of the total tokenized stock trading volume in June. Backpack Securities' SPCX token became the most actively traded SpaceX tokenized stock product, with a single-month on-chain transaction volume of $1.08 billion. Data shows that this round of growth was primarily driven by demand for SpaceX-related assets. SpaceX previously completed a record-breaking $75 billion IPO, valuing the company at approximately $1.8 trillion on a fully diluted basis. While traditionally popular assets such as Nvidia, Tesla, the S&P 500 ETF (SPY), and the Nasdaq 100 ETF (QQQ) remained actively traded, none reached the market enthusiasm of SpaceX's tokenized shares. Furthermore, the total market capitalization of tokenized shares rose to $1.53 billion in June, a 6.64% increase from the previous month, marking the 15th consecutive month of growth. (CoinDesk)
The protagonist of ByteDance's stock trading success story: CPI, non-farm payroll data, etc., are not just market noise; he previously suffered a significant drawdown in his Nvidia investment due to ignoring the interest rate hike environment.
According to BlockBeats, on July 5th, Leto Bao, the protagonist of the "ByteDance stock trading 30 million yuan" story, reviewed his journey to a 30 million yuan fortune in the US stock market on Binance Square. He stated that CPI, non-farm payrolls, and Federal Reserve policies are all macroeconomic factors, while earnings season reflects the performance of specific companies or industries, and also reflects changes in the macroeconomy. Leto Bao stated that the CPI (Consumer Price Index) is one of the key indicators monitored by the Federal Reserve. A high CPI usually indicates greater inflationary pressure; a low CPI may reflect deflationary pressure. The Federal Reserve's long-term goal is to maintain inflation at around 2%, which represents a moderate inflationary environment, meaning a slow depreciation of the currency, while investment, consumption, and credit activities are relatively healthy. Non-farm payroll data also influences market judgment. There is a certain correlation between overheated employment and inflation, but the relationship between macroeconomic indicators is complex and not a simple linear deduction. The Federal Reserve is responsible for formulating economic policies related to interest rates and serving the US economy through policy adjustments. Leto Bao believes that CPI, non-farm payrolls, Federal Reserve policies, and earnings season should not be simply dismissed as "noise," but all have some reference value. He mentioned that when he previously invested in Nvidia, he ignored the broader interest rate environment, leading to a significant drawdown in his account. Therefore, macroeconomic factors still need to be incorporated into investment decisions. Leto Bao is a former employee of ByteDance, known as the "ByteDance Stock Investor." He reportedly made substantial profits (around 30 million RMB) by investing in the AI storage sector in the US stock market and subsequently resigned. The story began when he noticed an abnormal price increase when buying hard drives on Pinduoduo, which prompted him to research data storage needs and heavily invest in related stocks.
Kuaishou's subsidiary, Keling AI, is about to complete a $3 billion funding round, with a Middle Eastern fund potentially leading the investment.
According to Mars Finance, citing Bianews, Kuaishou's "Keling AI" is about to complete an independent financing round exceeding $3 billion, valuing the company at $18 billion post-money. It is understood that the lead investor in this round may be a fund with Middle Eastern background, with Tencent, Alibaba, General Atlantic, Sequoia Capital, and other well-known institutions also on the list of potential investors. Keling AI plans to complete its restructuring and shareholding reform in 2026 and is expected to formally submit its IPO application in early 2027. It is worth noting that the $18 billion valuation is a price after market "revaluation." Kuaishou's initial expectation was $20 billion, which was later lowered due to capital market feedback. Even so, this is still the largest financing round in the global AI video generation sector in 2026. Public financial reports show that Keling's revenue last year was approximately 1.04 billion yuan, accounting for only 0.73% of Kuaishou's total revenue. However, since the beginning of this year, its commercialization pace has accelerated significantly: first-quarter revenue exceeded 650 million yuan, a year-on-year surge of over 300%; as of March this year, its annualized recurring revenue (ARR) had reached $500 million. During the same period, Keling's global user base exceeded 60 million, with over 600 million videos generated cumulatively, and API services provided to over 30,000 enterprises and developers. Based on a valuation of $18 billion and an ARR of $500 million, Keling AI's current price-to-sales ratio (Price/ARR) is approximately 36 times.
Analysis: The AI investment boom is cooling down, and the market is reassessing the sustainability of chip and data center spending.
According to Odaily Odaily, the AI infrastructure investment boom is cooling down, and the market is beginning to reassess the sustainability of chip and data center spending. As investors re-examine whether AI infrastructure investment can be sustained, "AI deals" covering the semiconductor, memory chip, and data center industry chain are showing signs of cooling. Recently, AI-related chip stocks such as Micron Technology (MU) and SanDisk (SNDK) have been under pressure. Samsung Electronics previously reported record second-quarter results, but revenue fell short of market expectations, causing its stock price to drop nearly 7%, dragging down the entire AI chip sector. Market concerns are growing that the current AI boom, driven by GPUs, high-bandwidth memory (HBM), and data center construction, may face repricing as cloud computing giants (Hyperscalers) may slow their investments in AI infrastructure. Meanwhile, South Korean memory chip giant SK Hynix's stock price has fallen about 25% from its all-time high ahead of its US IPO, which is also attracting some funds away from existing chip stocks. Analysts point out that after SpaceX's massive IPO boosted valuations of AI-related assets, investors are reassessing the growth logic for the next phase of the AI market. If the AI investment fervor cools further, some funds may flow back from the AI industry chain to other risky assets, including crypto assets. (CoinDesk)
A summary of key pre-market news for US stocks: SpaceX donates shares to the "Trump account," and SK Hynix initiates its roadshow for a US IPO.
According to Odaily Odaily, the following are key financial news items in the US stock market that investors should pay attention to: 1. US stock index futures are mixed. Dow Jones futures are down 0.13%, S&P 500 futures are up 0.41%, and Nasdaq 100 futures are up 1.17%. 2. International oil prices fluctuated narrowly. WTI crude oil futures fell 0.76% to $68.167 per barrel; Brent crude oil futures fell 0.71% to $71.605 per barrel. 3. International spot gold and silver prices both declined. Spot gold fell 0.69% to $4,145.79 per ounce; spot silver fell 0.66% to $61.95 per ounce. 4. Semi-analytical research firm SemiAnalysis has published a report indicating that NVIDIA's Kyber NVL144 rack architecture may face delays. The firm attributes this to "significant challenges remaining in the manufacturing process of the PCB midplane" and predicts that delivery will be postponed until 2028. 5. Broadcom will develop custom (ASIC) chips for Apple, and the two companies have agreed to expand their technological collaboration until 2031. Broadcom shares rose more than 4% in pre-market trading. 6. SpaceX President and Chief Operating Officer will donate a portion of SpaceX shares to the "Trump Account" as part of the "Invest in America" program. 7. SK Hynix has officially launched its roadshow for a US IPO. The offering size is approximately $28 billion, potentially making it one of the top three largest IPOs in global history.