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Yunfeng Capital, linked to Alibaba founder Jack Ma, has made its first US investment by participating in a funding round for San Francisco-based AI insurance startup Corgi, injecting approximately $30 million. This move signals a strategic expansion beyond its China-focused portfolio.
Read MoreOn August 6, Palo Alto Networks' stock fell over 2% in pre-market trading following China's announcement of a cybersecurity review of its products sold in the country. The review, based on national security laws, aims to safeguard critical infrastructure and has raised concerns about compliance for foreign tech firms operating in China.
Read MoreAI pioneer Yann LeCun and former Gemini tech lead Oriol Vinyals have joined new VC firm 224 Ventures. The fund manages over $100M, targeting early-stage AI companies in applications, robotics, and infrastructure with investments from $1M to $5M.
Read MoreA GF Securities (HK) report forecasts continued but slowing growth in US cloud capex through 2029. It remains optimistic on core AI computing hardware like GPUs, CPUs, and optical modules, while advising caution on memory chips due to spec reductions and cost-cutting efforts.
Read MoreData exchange platform Verb is launching a marketplace this Thursday, enabling consumers to sell their personal data directly to businesses. This initiative shifts data acquisition from traditional channels like publishers and brokers, allowing individuals to monetize their own information.
Read MorePakistan's Foreign Ministry spokesperson expressed hope that a recent agreement on the Strait of Hormuz could foster conditions for sustained U.S.-Iran dialogue and facilitate the resumption of technical-level negotiations between the two sides.
Read MoreSouth Korea's tax-incentive RIA accounts, designed to lure overseas investment back home, are seeing rapid outflows. About 5000 billion won ($3.7B) left in just two months as investors opt to pay penalties and forfeit tax benefits to exit the slumping local market for perceived safety abroad.
Read MoreMeta's Chief Global Affairs Officer Joel Kaplan has formally apologized to India's IT Minister over Facebook restricting Prime Minister Modi's posts. The incident highlights tensions between tech platforms' content moderation and geopolitical relations.
Read MoreFollowing stricter Korean regulations on single-stock leveraged ETFs, retail capital is rapidly shifting to US markets. Data shows Korean investors net bought nearly $2.5 billion in the US 3x leveraged semiconductor ETF SOXL in just three weeks, with significant inflows also into double-leveraged Tesla ETFs. This highlights a search for high-leverage opportunities abroad amid domestic restrictions.
Read MoreSaudi Aramco unexpectedly cut its official selling price for Arab Light crude to Asia by 50 cents per barrel. This move comes as global oil prices decline and negotiations aim to ease shipping tensions in the Strait of Hormuz. Despite Houthi threats to Red Sea routes, Saudi Arabia's price reduction signals a strategic push for market share.
Read MoreHyperliquid's native token HYPE has seen over $6 million worth permanently burned through its Priority Fees mechanism. This system lets traders pay HYPE for faster order execution, with fees being destroyed instantly. It's a key deflationary engine that captures value within the ecosystem and reduces token supply.
Read MoreA new report reveals a critical depletion in U.S. missile defense stocks following recent combat operations. Nearly 80% of THAAD interceptors and half of Patriot missiles have been consumed. Senior commanders warn reserves are at dangerously low levels, raising serious concerns about sustained defense capabilities.
Read MoreAIX Ventures co-founder Shaun Johnson launches $100M AI fund 224 Ventures, targeting AI-native startups. The fund is co-led by Turing Award winner Yann LeCun and ex-Google DeepMind researcher Oriol Vinyals, backed by 244 industry LPs, with a focus on AI applications, robotics, and infrastructure.
Read MoreBytedance CEO Liang Rubo acknowledged a gap in large language models compared to global leaders but emphasized a commitment to in-house R&D, prioritizing long-term AGI goals over short-term gains. Internally, the company sees top-tier models as key to unlocking high-value commercial applications, with video generation already advancing beyond experimental use.
Read MorePre-market trading saw a broad selloff in storage chip stocks, with Western Digital down over 12% and SanDisk falling more than 8%. The declines signal investor concerns about industry supply-demand dynamics and future earnings.
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