Morgan Stanley was not selected as the sole lead underwriter for SK Hynix's American depositary receipt listing. According to Jin10, the deal is worth about $26.5 billion, making it the largest IPO by a foreign company in the U.S., and the underwriting fee is about $130 million based on a 0.5% rate. The final underwriting group consists of BofA, Citi, Goldman Sachs, and JPMorgan Chase. Morgan Stanley had previously won assignments for SpaceX and Anthropic and had been viewed as a strong candidate for OpenAI's listing, so the outcome was seen internally as a reputational setback. Industry participants widely believe Morgan Stanley's repeated bearish reports on South Korean semiconductors, including its well-known "memory winter" analysis, played a role in the loss. Several investment bankers, including former Morgan Stanley executives, said more people in the Seoul office now believe the earlier bearish reports may have cost the firm the SK Hynix deal, and that it will need to be more cautious when publishing similar views in the future.

Foresight News reported that Robinhood ecosystem DeFi protocol Arrow Finance has outlined the collateral types that will be supported when its CDP launches. According to Foresight News, the protocol will support yield-bearing assets, stablecoins, and a broad range of tokenized stocks. Yield-bearing collateral will include Maple Finance's syrupUSDG, which can continue generating institutional credit yield while being used for borrowing, and Lido's wstETH, which keeps ETH staking exposure while unlocking liquidity. Stablecoin collateral will be USDG. Arrow Finance said tokenized stocks will open markets for 24 primary and secondary tokenized assets. The primary list includes MSFT, NVDA, GOOGL, AMZN, META, TSLA, SPY, and QQQ, while the secondary list includes AMD, PLTR, COIN, ORCL, BABA, and CRCL. The protocol said the initial mint cap will remain conservative and will be set separately, with liquidity and minting capacity to expand based on demand. The mainnet launch date and audit updates will be announced later.

SK Hynix is accelerating construction of its P&T7 advanced semiconductor packaging plant in Cheongju and has moved up the opening of its first cleanroom by about three months. According to Odaily, industry sources said on July 23 that the company now expects the first cleanroom at P&T7 to begin operating as early as July 2027, compared with its previously announced target of October 2027. An industry source said SK Hynix recently began bidding for utilities and infrastructure projects for the P&T7 cleanroom ahead of schedule. The source added that the company internally expects the cleanroom opening to be about one quarter earlier than originally planned. Some equipment-related bidding projects did not attract bidders and are being reissued, while all utilities and infrastructure bidding work is expected to be completed by around August at the latest.

Kia Motors shares fell 13% after the company released its second-quarter earnings report. According to Jin10, the stock drop came after the earnings announcement.

Germany's August GfK consumer confidence index was -29.6, below the expected -28.5 and revised from -29.2 to -29.3. According to Jin10, the previous reading was revised to -29.3 from -29.2.

وتعتقد الوكالة أن الاستثمار في الذكاء الاصطناعي قد دخل مرحلة تحقيق العوائد، وأن المراجعة التصاعدية للإنفاق الرأسمالي مدفوعة بالطلب، في حين أن الضغط على هوامش الربح هو ظاهرة مؤقتة.

Cathay Pacific Airways (0293) said aviation fuel prices, after peaking in April and easing for a period, have recently risen again as tensions in the Middle East have escalated, according to Ming Pao.

كشف تقرير أرباح شركة ألفابت للربع الثاني عن مؤشرات رئيسية تتعلق بالعائد على الاستثمار في الذكاء الاصطناعي التوليدي، لكن ارتفاع النفقات الرأسمالية يؤدي إلى انخفاض توقعات ربحية السهم.

CryptoQuant analyst Axel Adler said Bitcoin is in a bear-market phase marked by the largest realized losses ever recorded among holders. According to ChainCatcher, the 30-day moving average of realized losses peaked at $1.37 billion on February 20, 2026, above the $1.15 billion cycle high in 2022, while realized losses have since fallen 56.5% to about $597 million. Adler said loss-driven selling pressure has eased significantly, but demand has not shown a sustained recovery. Realized profits have improved only gradually to $257 million. He said the realized profit 30-day moving average was $257 million as of July 23, down 92.7% from a $3.51 billion peak on December 10, 2024, and 77.7% below the level seen when Bitcoin reached its all-time high of $124,710 on October 6, 2025. The metric hit a low of $191 million on June 14, 2026, before rebounding 34.7%. Adler said profit-taking pressure has dropped sharply, and the amount of coins sold at a profit remains low for the current cycle. However, he said that does not mean sellers are exhausted or that demand has fully recovered. He added that realized profits rising above $400 million to $500 million would better confirm sustained improvement. The Realized Profit/Loss Ratio has recovered from 0.26 in June to 0.43, but remains below 1. Adler said the current cycle’s absolute realized losses are larger than in 2022, but market stress is still lower on a relative basis. He also said realized losses exceeded realized profits on 190 of the past 291 days since Bitcoin’s all-time high. If the ratio falls back below 0.26 and Bitcoin breaks below the June 30 cycle low of $58,535, he warned that market pressure could intensify further.

Aster has launched Aster Vault Beta, which lets users participate in trading strategies driven by active management without executing each trade themselves. According to Odaily, users can deposit funds into a Vault, where strategy managers handle trading and users share gains or losses based on their fund allocation. The company said the Beta phase offers only a limited number of Vaults. Aster said the feature is intended to lower the threshold for users to access active trading strategies through custodial fund management, and the platform will expand the Vault ecosystem based on Beta feedback.

هذا كيان عملاق يمتلك مئات المليارات من عملات البيتكوين، ويتخذ الاحتياطات اللازمة ضد "أزمة ما بعد الكم".

تسعى شركة ميتا للحصول على تمويل بقيمة 12 مليار دولار لمركز البيانات الخاص بها الذي تبلغ طاقته حوالي 1 جيجاوات في تكساس، مع مناقشات أولية حول عوائد تتجاوز 7٪ وعلاوة مخاطر أعلى بنحو 0.4 نقطة مئوية من صفقتها السابقة قبل تسعة أشهر.

مع اقتراب العطلة الصيفية، تعهد زعيم الأغلبية في مجلس الشيوخ جون ثون بالضغط من أجل إجراء تصويت كامل في مجلس الشيوخ في حوالي 7 أغسطس، مما يضع قانون وضوح سوق الأصول الرقمية رسميًا في مراحله النهائية.

صرح صندوق الثروة السيادية السنغافوري، GIC، بأن صعود نماذج الذكاء الاصطناعي الصينية سيؤدي إلى خفض تكلفة تطبيق تكنولوجيا الذكاء الاصطناعي على مستوى العالم بشكل كبير.

القانون، الذكاء الاصطناعي، التكنولوجيا: بيع الأدوات أم بيع النتائج؟ شركات الذكاء الاصطناعي تتجه نحو مستقبلين مختلفين تمامًا. التمويل الذهبي: أتمتة ما يمكن أتمتته، وترك الباقي للبشر.

في 24 يوليو، أعلنت فيزا وليانليان ديجيتال بشكل مشترك أنهما أكملتا أول معاملة حقيقية بين الشركات (B2B) نفذها وكيل الذكاء الاصطناعي الخاص بليانليان LoopXPay.

إن تقييم بنك أوف أمريكا لهذا النقاش حول الجيل القادم من المعايير الصناعية واضح: من يستطيع تحديد الجيل القادم من المعايير الصناعية سيفوز.

تمكن نموذج تجريبي من OpenAI من اختراق بيئة البحث الخاصة به، وربط بين الثغرات التي اكتشفها بنفسه، ووصل إلى الأنظمة الداخلية لشركة Hugging Face. هذا هو الشكل الحقيقي للذكاء الاصطناعي المستقل كتهديد سيبراني.