Analyst Highlights
- Rapidus 2nm chip prototype positions Japan as a non‑Chinese supplier, advancing domestic AI chip capacity.
- TSMC’s $165 billion buildout shows long timelines and exposure to tariff policy risks.
- Galaxy Z Fold 7 shows foldables maturing, reaching mainstream usability despite premium pricing.
- Meta’s multi‑gigawatt clusters reflect aggressive capex to drive AI superintelligence targets.
- CoreWeave’s Texas expansion underscores how AI data centers strain US grid capacity.
- OpenAI’s ChatGPT agent integrates shopping and presentation tools, signaling broader AI task automation.
IPO’s in the week
- Almonty Industries (ALM, Nasdaq) – Tungsten-focused miner Almonty Industries listed on the Nasdaq on July 14, 2025, offering 16,666,667 shares at US$4.50 each, raising approximately US$90 million. The Canada‑based company, now redomiciling to Delaware, supplies tungsten under a 15‑year contract with a U.S. defense contractor and will use proceeds to develop its Sangdong tungsten oxide facility in South Korea, positioning itself as a key non‑Chinese supplier for U.S. and allied defense needs.
- Silver Pegasus Acquisition Corp. (SPEGU, Nasdaq) – A Cayman Islands‑incorporated blank check company focused on semiconductors and systems solutions listed on the Nasdaq on July 15, 2025. The company offered 11,500,000 units at US$10.00 each, including the full exercise of underwriters’ over‑allotment option, raising approximately US$115 million. Each unit consists of one Class A ordinary share and one‑tenth of a share right, with proceeds earmarked for a future business combination in targeted sectors.
- Aura Minerals Inc. (AUGO, Nasdaq Global Select) – An Americas‑focused gold and copper producer with operating mines in Mexico, Brazil, and Honduras, Aura Minerals listed on the Nasdaq on July 16, 2025, offering 8,100,510 shares at US$24.25 each, raising approximately US$196.4 million. Backed by a seasoned management team and a portfolio of four operating mines plus development projects in Brazil and Guatemala, Aura plans to use proceeds to advance its high‑IRR growth pipeline, including ramp‑up at the Borborema gold mine and exploration across 563,000+ hectares of mineral rights.
- K‑Tech Solutions Co. Ltd. (KMRK, Nasdaq Capital) – A Hong Kong–based toy product developer specializing in design, prototyping, and commercialization of educational and electromechanical toys, K‑Tech Solutions debuted on the Nasdaq on July 16, 2025. The company offered 1,600,000 shares at US$4.00 each, raising approximately US$6.4 million. Proceeds are expected to support expansion of its product development services and exploration of new manufacturing operations in Southeast Asia.
- Mega Fortune Co. Ltd. (MGRT, Nasdaq Capital) – A Hong Kong–based Internet of Things (IoT) solutions provider, Mega Fortune operates through its subsidiary QBS System to deliver IoT integration, maintenance, and BPO services across multiple industries. The company listed on the Nasdaq on July 16, 2025, offering 3,750,000 shares at US$4.00 each, raising approximately US$15 million. Proceeds are aimed at expanding its IoT initiatives and scaling its digital transformation services throughout the Asia‑Pacific region.
- Solarius Capital Acquisition Corp. (SOCAU, Nasdaq Global) – A Cayman Islands‑incorporated blank check company formed to pursue mergers or acquisitions in asset management, wealth management, and financial services, Solarius Capital listed on the Nasdaq on July 16, 2025, offering 15,000,000 units at US$10.00 each, raising approximately US$150 million. Proceeds will be held in trust pending the identification of a suitable business combination target with an enterprise value between US$500 million and US$2 billion.
- Pyrophyte Acquisition Corp. II (PAIIU, NYSE) – A Cayman Islands–incorporated special purpose acquisition company (SPAC), Pyrophyte Acquisition Corp. II listed on the NYSE on July 17, 2025, offering 17,500,000 units at US$10.00 each, raising approximately US$175 million. The SPAC intends to target companies within the energy sector supply chain—spanning critical minerals, equipment, and technologies supporting both traditional and renewable energy solutions—while maintaining a focus on financially disciplined targets.
- Robot Consulting Co., Ltd. (LAWR, Nasdaq Capital) – A Tokyo‑based human resource solutions and digital transformation services provider, Robot Consulting listed on the Nasdaq on July 17, 2025, offering 3,750,000 shares at US$4.00 each, raising approximately US$15 million. The company’s flagship product, Labor Robot, is a cloud‑based HR management system that helps small and medium‑sized businesses streamline operations and access grant and subsidy programs.
- Majestic Ideal Holdings Ltd. (MJID, Nasdaq Capital) – A Cayman Islands–incorporated supply chain management services provider for the apparel industry, Majestic Ideal Holdings listed on the Nasdaq on July 18, 2025, offering 2,500,000 shares at US$6.00 each, raising approximately US$15 million. Through its Hong Kong–based operations, the company delivers end‑to‑end solutions spanning market trend analysis, product design, raw material sourcing, production management, and logistics for global textile and garment clients.
Markets Weekly
- S&P 500 closed at 6,296.79, down 0.57 points and 0.01% for the week.
- Russell 1000 (IWB) closed at 345.18, down 0.04 points and 0.01% for the week.
- Russell 2000 closed at 2,240.01, down 13.67 points and 0.61% for the week.
- Russell 3000 closed at 3,583.12, down 0.63 points and 0.02% for the week.
- CBOE (VIX) closed at 16.41, down 0.11 points and 0.67% for the week.
- Dow Jones closed at 44,342.19, down 142.31 points and 0.32% for the week.
- NASDAQ closed at 20,895.66, up 10.06 points and 0.05% for the week.
- Bitcoin (BTC‑USD) closed at 118,067.11, up 343.76 points and 0.29% for the week.
- Ethereum (ETH‑USD) closed at 3,768.42, up 198.95 points and 5.57% for the week.
- Solana (SOL‑USD) closed at 182.19, up 6.29 points and 3.57% for the week.
- XRP (XRP‑USD) closed at 3.4906, up 0.0902 points and 2.65% for the week.
- Gold closed at 3,354.20, down 3.10 points and 0.09% for the week.
- Silver closed at 38.400, down 0.064 points and 0.17% for the week.
- WTI closed at 67.43, up 0.09 points and 0.13% for the week.
- Brent Crude Oil closed at 69.40, up 0.12 points and 0.17% for the week.
- Global crypto market capitalization broke $4 trillion, driven by altcoin gains and U.S. approval of a stablecoin bill expected to boost growth in the $265 billion sector.
- Bitcoin peaked at $123,205 before closing near $117,665, with analysts citing ETF inflows and option bets that could push prices toward $150,000 in coming months.
- Federal Reserve Governor Christopher Waller signaled he may dissent at the July meeting, urging a rate cut as private‑sector hiring slows and inflation stays muted.
- Oil held near $67 a barrel as traders weighed new EU measures to curb Russian energy exports and tighter limits on refined products, fueling diesel‑market concerns.
- Bond yields fell as Fed Governor Christopher Waller renewed his call for a July rate cut, while data showed consumer inflation expectations eased to 4.4%.
- Rosneft called new EU sanctions on India’s Nayara Energy “unjustified and illegal,” saying all profits stay in India and urging support from both governments.
- The US Justice Department is probing possible collusion among CLO investors during the Libor transition, examining whether firms coordinated to influence debt repricing.
- Investor demand for yield is fueling a surge in S&P 500 dividend derivatives, with futures trading up 40% this year and options open interest tripling since launch.
- Some strategists warn lofty stock valuations face tariff risks, with existing levies already cutting earnings and raising costs that could trigger a market pullback.
- Trump’s threats to fire Fed Chair Powell jolted markets, prompting investors to hedge with short‑term Treasuries and sell longer maturities.
- Brandon Lutnick is steering Cantor Fitzgerald deeper into crypto, backing a SPAC merger with BSTR to create a Bitcoin treasury.
- US Ether ETFs saw record $727 million inflows and $2.6 billion trading volume as pro‑crypto bills advanced, signaling rising institutional demand.
- Peter Thiel’s Founders Fund took a 9.1% stake in BitMine, a Bitcoin miner pivoting to an Ether treasury holding over $500 million in the cryptocurrency.
- Norfolk Southern shares rose after reports Union Pacific is exploring a takeover that could create the first U.S. coast‑to‑coast rail network.
- Big U.S. banks are profiting from market volatility, with JPMorgan and Bank of America increasing capital for trading desks as revenue climbs.
- The “Magnificent Seven” are diverging, with Nvidia, Meta and Microsoft rising while Apple, Alphabet and Tesla lag on differing AI progress.
Politics Weekly
- President Trump is preparing industry‑specific tariffs, including a planned 50% copper duty by Aug. 1, with possible levies on drugs and semiconductors to follow.
- Japan’s Prime Minister Ishiba and US Treasury Secretary Bessent signaled a “good” trade deal is possible, though talks may take time as an Aug. 1 tariff deadline nears.
- Tariffs have been cited in at least 10 U.S. bankruptcies since April, but analysts say many firms were already struggling and are using levies as an easy excuse.
- Brazil’s Supreme Court and President Lula vowed to press the Bolsonaro probe despite Trump’s tariff threats, underscoring a firm stance on sovereignty.
- EU envoys will meet this week to draft a retaliation plan as Trump threatens 30% tariffs on most EU exports by Aug. 1, with talks showing little progress.
- UK joined the EU in cutting Russia’s oil price cap to $47.60 a barrel from Sept. 2, stepping up sanctions to squeeze Moscow’s energy revenues.
- Iran agreed in principle to hold nuclear talks with the UK, France and Germany, with discussions on location underway and a meeting possible next week.
- EU envoys will meet to plan retaliation as Trump threatens 30% tariffs on most EU exports by Aug. 1, preparing countermeasures if talks fail.
- Ukraine proposed new talks with Russia next week to speed a ceasefire, while the Kremlin said a Putin‑Trump meeting is possible but not yet set.
- China and Vietnam will hold their first joint army drill in Guangxi this month, strengthening ties as both face new US tariffs.
- Bedouin clans withdrew from Syria’s Sweida after deadly clashes with Druze militias, as a U.S.-brokered ceasefire allowed aid convoys into the city.
- Japanese PM Shigeru Ishiba vowed to stay despite LDP and Komeito losing their upper house majority, a setback driven by cost‑of‑living discontent.
- The U.S. is fast‑tracking Patriots to Germany so it can send systems to Ukraine, as Trump pushes allies to fund and speed arms amid rising Russian attacks.
Technology Advancements in the week
- Elon Musk said xAI will launch a kid‑friendly app called Baby Grok, following its rapid Grok 4 rollout.
- Japan’s Rapidus built a 2nm chip prototype and aims for mass production by 2027, backed by ¥1.72 trillion and support from Toyota and Sony.
- TSMC stays cautious on spending while pursuing a $165 billion US expansion, with Huang citing long timelines and tariff risks.
- Samsung’s $2,000 Galaxy Z Fold 7 fixes past design flaws, offering a thinner, lighter foldable that feels like a normal phone.
- OpenAI’s ChatGPT agent handles online shopping and draft presentations, combining existing tools to streamline tasks for paid users.
- Aker plans an AI facility in Narvik, Norway, using 230 MW of power to drive data infrastructure, job creation, and exports.
- Mark Zuckerberg said Meta is building multi‑gigawatt data centers, with the first “Prometheus” in Ohio coming online in 2026 to fuel its superintelligence push.
- CoreWeave is expanding a Denton, Texas data center set to double the city’s power use, adding pressure to the grid amid rising AI demand.
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