CZ: The era of Perp DEX is coming, and high-quality projects will win in the long run
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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...
During his research visit to Guangzhou on the development of the artificial intelligence industry, Meng Fanli emphasized: Accelerate high-level applications across all regions, all times, and all industries to fully promote the high-quality development of the artificial intelligence industry.
According to Mars Finance, Meng Fanli, Deputy Secretary of the Guangdong Provincial Party Committee and Governor of Guangdong Province, visited several artificial intelligence (AI) companies in Guangzhou. He emphasized the need to thoroughly study and implement the spirit of General Secretary Xi Jinping's important speeches and instructions on Guangdong and Guangzhou, and to earnestly implement the deployments of the Guangdong Symposium on Accelerating the Development of the New Mechatronics Industry and the Guangdong AI Application Matching Conference. He stressed the importance of using more powerful and effective "policies + work" to fully promote the high-quality development of the AI industry and its high-level application across all regions, industries, and sectors, thereby accelerating the cultivation and development of new productive forces. Meng Fanli pointed out that global AI is currently experiencing explosive growth, and Guangdong possesses a strong industrial foundation, rich application scenarios, and a vibrant innovation ecosystem, making its AI industry development promising and highly valuable. He stressed the need to firmly grasp AI as a crucial driving force for the new round of technological revolution and industrial transformation, vigorously promote its rapid development and application, better empower various industries, bring it into every household, and drive high-quality development. We must fully leverage the advantages of mechatronics and hardware-software synergy, strengthen research and development of key core technologies and the transformation of research results in artificial intelligence, continuously attract investment and talent from across the country and globally, accelerate the strengthening of the entire artificial intelligence industry chain including chips, computing power, algorithms, data, and applications, cultivate a number of large-scale models in vertical fields and small-scale models for specific scenarios, develop and launch more industrial intelligent agents and life intelligent agents, and create a group of leading enterprises with outstanding technical strength, industry influence, and independent ecosystem construction capabilities. We must deepen and expand "AI+", adhering to full coverage, all-time response, and full industry penetration, comprehensively reviewing and fully developing all possible application scenarios in various fields such as intelligent manufacturing, smart parks, smart cities, smart healthcare, and smart transportation, especially accelerating the digital transformation of industrial enterprises, promoting the coordinated development of manufacturing and service industries, and better empowering the construction of a modern industrial system. We must create a first-class industrial ecosystem, comprehensively optimize policy supply, strengthen the guarantee of various factors such as finance, innovation, and talent, improve the artificial intelligence governance system, and promote the integration of large, medium, and small enterprises, upstream and downstream matching, and front-end and back-end closed loops in artificial intelligence development, creating a first-class environment and providing optimal services for high-quality industrial development. (Southern Plus)
US pre-market news highlights: EDA giants focus on AI chip design; SpaceX officially included in the Nasdaq 100 index; Analysts say AI computing power demand is far from peaking.
Mars Finance reports the following key financial news from the US stock market that investors should pay attention to: 1. US stock index futures showed mixed results. Dow Jones futures rose 0.29%, S&P 500 futures fell 0.15%, and Nasdaq 100 futures fell 0.94%. 2. International oil prices rose slightly. WTI crude oil futures rose 0.61% to $68.967 per barrel; Brent crude oil futures rose 0.74% to $72.526 per barrel. 3. International gold and silver spot prices fluctuated narrowly. Spot gold rose 0.03% to $4166.01 per ounce; spot silver fell 0.64% to $61.62 per ounce. 4. European stock indices all fell. The UK FTSE 100 rose 0.47%, the French CAC 40 rose 0.20%, and the German DAX 30 fell 0.63%. 5. EDA giant Synopsys informed more than 10 chip manufacturers, including Samsung Electronics and SK Hynix, in April and May that it would "suspend" some of its wafer fab manufacturing analysis software, shifting resources to the more profitable AI chip design business. 6. SpaceX, owned by Elon Musk, was officially included in the Nasdaq 100 index today, becoming the first company in the index with a space business at its core. JPMorgan Chase estimates its weight in the index at approximately 1.3%. Wall Street generally gave it an "initial bullish" rating, with a target price as high as $800. 7. Google invested over €400 million in Proxima Fusion, a European nuclear fusion "unicorn" company, with the aim of building a commercial fusion power plant by the 2030s. 8. Anthropic announced a 20-year AI data center lease agreement with AI data center operator TeraWulf. The project has a capacity of approximately 401 megawatts and is expected to be operational in the second half of 2027, reaching full capacity in early 2028. 9. A recent report from semiconductor research firm SemiAnalysis indicates that AI computing power demand is far from peaking. The firm predicts that Meta computing power procurement will accelerate, and capital expenditure may increase significantly next year. 10. Walmart and its Sam's Club announced price reductions on thousands of popular summer items and everyday essentials across the United States. 11. Microsoft raised its Microsoft 365 Enterprise subscription fee earlier this month, with increases ranging from 8% to 33%. Personal and Education versions are currently unaffected. (Cailian Press)
"Whale Discovery" reports that Hynix opened 10% higher, recovering yesterday's losses, with a high-probability whale using 10x leverage chasing the rebound.
According to BlockBeats, on July 8th, Hyperinsight monitoring showed that in the past hour, an address starting with 0x1cb opened a long position in SK Hynix (SKHX) with 10x leverage: holding 2,362,465 tokens, with a nominal size of approximately $3.576 million, an average opening price of $1,496.485, a liquidation price of $1,436.50, and a current unrealized profit of approximately $40,700 (a return of approximately 11.5%). It is reported that SK Hynix opened 10.5% higher today, recovering most of yesterday's losses. This particular address concentrated buying during the main upward trend, with 653 transactions completed, ranging in price from $1,486.90 to $1,520.00, continuously pushing up its holdings. This address has opened SKHX positions 25 times in the past two weeks, mostly completing a round of swing trading within the day, with a win rate of about 70.8%. This is its 25th long recently. - HyperInsight Bot is now live. Add @HyperInsightBot to the Telegram community and set it as an administrator (message sending permission required) to automatically sync on-chain information.
SPCX fell more than 5% intraday, despite several Wall Street firms giving it a "buy" rating and high target price today.
According to BlockBeats, on July 7th, based on BIT (bit.com) market data, SPCX fell over 5% after the US stock market opened, currently trading at $152.3. Earlier today, major Wall Street investment banks released their assessments of SpaceX (SPCX). Raymond James gave a target price as high as $800, almost viewing the company as a combination of next-generation space infrastructure, communication networks, and orbital computing platforms; while most mainstream banks were more cautious, with target prices mainly concentrated in the $200 to $300 range, including Morgan Stanley's $300, Deutsche Bank's $255, JPMorgan and RBC's $225, Goldman Sachs' $205, and Citi's $200.
US stock indices diverged, with the Nasdaq 100 falling 1.5% while the Dow Jones Industrial Average rose nearly 0.5% at one point, hitting a record high.
According to Mars Finance, on July 7, based on BIT (bit.com) market data, US stock indices showed divergent trends, with the Nasdaq 100 index falling 1.5% and the Dow Jones Industrial Average rising nearly 0.5% to a record high.