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On July 14, according to foreign media reports, after DeepSeek completed its latest funding round, founder Liang Wenfeng's personal wealth more than doubled, making him the highest-net-worth founder among global AI large model companies. According to the Bloomberg Billionaires Index, Liang Wenfeng's current net worth is $36 billion (previously about $16.7 billion), surpassing Anthropic co-founder Dario Amodei and OpenAI co-founder Greg Brockman. This comparison only covers companies whose main business and majority of revenue come directly from AI large models, excluding large diversified technology groups such as Alibaba and Tencent, as well as AI industry chain-related companies like data centers and semiconductors. The vast majority of Liang Wenfeng's wealth comes from his controlling stake in DeepSeek. In June of this year, DeepSeek reportedly completed a 50 billion yuan financing round, with the company valued at over 330 billion yuan, and Liang Wenfeng personally contributed 20 billion yuan. According to the Bloomberg Billionaires Index, his shareholding was diluted to approximately 78%. (Jin Shi)

[After DeepSeek's Latest Funding Round, Liang Wenfeng's Net Worth Surpasses Anthropic's Dario and OpenAI's Brockman]On July 14, according to foreign media reports, after DeepSeek completed its latest funding round, founder Liang Wenfeng's personal wealth more than doubled, making him the highest-net-worth founder among global AI large model companies. According to the Bloomberg Billionaires Index, Liang Wenfeng's current net worth is $36 billion (previously about $16.7 billion), surpassing Anthropic co-founder Dario Amodei and OpenAI co-founder Greg Brockman. This comparison only covers companies whose main business and majority of revenue come directly from AI large models, excluding large diversified technology groups such as Alibaba and Tencent, as well as AI industry chain-related companies like data centers and semiconductors. The vast majority of Liang Wenfeng's wealth comes from his controlling stake in DeepSeek. In June of this year, DeepSeek reportedly completed a 50 billion yuan financing round, with the company valued at over 330 billion yuan, and Liang Wenfeng personally contributed 20 billion yuan. According to the Bloomberg Billionaires Index, his shareholding was diluted to approximately 78%. (Jin Shi)

After DeepSeek's Latest Funding Round, Liang Wenfeng's Net Worth Surpasses Anthropic's Dario and OpenAI's Brockman

On July 14, according to Farside Investors monitoring, yesterday the US Bitcoin spot ETF had a net outflow of $424.7 million, of which IBIT recorded a net outflow of $185.5 million and FBTC recorded a net outflow of $245.6 million. The Ethereum spot ETF saw a net outflow of $15.4 million, all attributed to FETH.

[Bitcoin ETF Net Outflow Reaches $424.7M, Ethereum ETF Net Outflow $15.4M]On July 14, according to Farside Investors monitoring, yesterday the US Bitcoin spot ETF had a net outflow of $424.7 million, of which IBIT recorded a net outflow of $185.5 million and FBTC recorded a net outflow of $245.6 million. The Ethereum spot ETF saw a net outflow of $15.4 million, all attributed to FETH.

Bitcoin ETF Net Outflow Reaches $424.7M, Ethereum ETF Net Outflow $15.4M

According to monitoring by Beating, Goldman Sachs estimates that Google, Amazon, Meta, Microsoft, and Oracle will invest $5.8 trillion by 2030 to build AI data centers and computing facilities. Even these tech giants cannot rely solely on cash. The five companies have issued nearly $200 billion in corporate bonds this year and borrowed about $90 billion through joint ventures for data centers. The problem is that although these bonds appear to be backed by big-name companies, the actual guarantees vary greatly. Some projects have leases fully taken over by Google. Others can only collect rent at discounted rates. There are also provisions that if construction is delayed by more than six months, Google and the tenant can exit directly. If the data center is not completed on time, rent payments will not begin, and investors may not get their money back. However, the market currently does not distinguish these risks carefully, and the borrowing rates for different projects are not very different. As more data centers start construction, delays and cost overruns may cause some bonds to default first.

[AI Infrastructure to Cost $5.8 Trillion, Bond Market May Underestimate Abandoned Project Risks]According to monitoring by Beating, Goldman Sachs estimates that Google, Amazon, Meta, Microsoft, and Oracle will invest $5.8 trillion by 2030 to build AI data centers and computing facilities. Even these tech giants cannot rely solely on cash. The five companies have issued nearly $200 billion in corporate bonds this year and borrowed about $90 billion through joint ventures for data centers. The problem is that although these bonds appear to be backed by big-name companies, the actual guarantees vary greatly. Some projects have leases fully taken over by Google. Others can only collect rent at discounted rates. There are also provisions that if construction is delayed by more than six months, Google and the tenant can exit directly. If the data center is not completed on time, rent payments will not begin, and investors may not get their money back. However, the market currently does not distinguish these risks carefully, and the borrowing rates for different projects are not very different. As more data centers start construction, delays and cost overruns may cause some bonds to default first.

AI Infrastructure to Cost $5.8 Trillion, Bond Market May Underestimate Abandoned Project Risks

On-chain data shows that the 7-day average trading volume of Hyperliquid perpetual contracts from the HIP-3 market has reached 54.1%. At the beginning of 2026, HIP-3's share of Hyperliquid perpetual contract trading volume was less than 3%, but it has now climbed to over 50%, reflecting the urgent demand from traders for on-chain stock trading since 2026. The Hyperliquid HIP-3 market is led by TradeXYZ, which deploys stock contracts tracking the Nasdaq 100 Index, S&P 500, SK Hynix, Micron, NVIDIA, SpaceX, and other companies.

[Hyperliquid Perpetual Contract Trading Volume from HIP-3 Market Exceeds 50%]On-chain data shows that the 7-day average trading volume of Hyperliquid perpetual contracts from the HIP-3 market has reached 54.1%. At the beginning of 2026, HIP-3's share of Hyperliquid perpetual contract trading volume was less than 3%, but it has now climbed to over 50%, reflecting the urgent demand from traders for on-chain stock trading since 2026. The Hyperliquid HIP-3 market is led by TradeXYZ, which deploys stock contracts tracking the Nasdaq 100 Index, S&P 500, SK Hynix, Micron, NVIDIA, SpaceX, and other companies.

Hyperliquid Perpetual Contract Trading Volume from HIP-3 Market Exceeds 50%

As of July 14, foreign investors have pulled nearly $110 billion from South Korean stocks this year, setting a new record high. This is mainly to avoid the imbalance in their portfolio allocation caused by the rapid rise of the Korean stock market. Consequently, domestic retail investors have taken on most of the buying pressure. After purchasing 42.4 trillion won in June, Korean retail investors have net bought 13.2 trillion won in KOSPI stocks this month as of July 14. The margin balance for retail investors investing in KOSPI stocks stood at 28 trillion won on July 14, after hitting a record high of 29.8 trillion won on June 24. Alexander Redman, Chief Equity Strategist at CLSA France, commented: 'South Korea remains the most overweight market in our portfolio, but I have started to reduce positions. What concerns me is that the market is currently dominated by retail investors, as they heavily use margin trading.' (Jin Shi)

[Foreign Investors Net Sell Nearly $110 Billion in Korean Stocks This Year, Increasing Pressure on Retail Investors]As of July 14, foreign investors have pulled nearly $110 billion from South Korean stocks this year, setting a new record high. This is mainly to avoid the imbalance in their portfolio allocation caused by the rapid rise of the Korean stock market. Consequently, domestic retail investors have taken on most of the buying pressure. After purchasing 42.4 trillion won in June, Korean retail investors have net bought 13.2 trillion won in KOSPI stocks this month as of July 14. The margin balance for retail investors investing in KOSPI stocks stood at 28 trillion won on July 14, after hitting a record high of 29.8 trillion won on June 24. Alexander Redman, Chief Equity Strategist at CLSA France, commented: 'South Korea remains the most overweight market in our portfolio, but I have started to reduce positions. What concerns me is that the market is currently dominated by retail investors, as they heavily use margin trading.' (Jin Shi)

Foreign Investors Net Sell Nearly $110 Billion in Korean Stocks This Year, Increasing Pressure on Retail Investors

On July 14, the US Department of Labor will release the US June CPI data at 20:30 Beijing time today, including the June unadjusted CPI year-over-year rate, seasonally adjusted CPI month-over-month rate, as well as the June seasonally adjusted core CPI month-over-month rate and unadjusted core CPI year-over-year rate. This may trigger market volatility.

[Preview: US June CPI Data to Be Released Today at 20:30]On July 14, the US Department of Labor will release the US June CPI data at 20:30 Beijing time today, including the June unadjusted CPI year-over-year rate, seasonally adjusted CPI month-over-month rate, as well as the June seasonally adjusted core CPI month-over-month rate and unadjusted core CPI year-over-year rate. This may trigger market volatility.

Preview: US June CPI Data to Be Released Today at 20:30

On July 14, Bitcoin fell over 2% in the past 24 hours, now trading at about $62,380. Market expectations for the Fed to raise rates as early as July have clearly heated up, with money markets pricing in about a 50% probability of a rate hike this month, up from just about 10% a few days ago. The change in expectations stems from Fed Governor Waller stating that officials may need to raise rates to control price pressures. The two-year U.S. Treasury yield subsequently rose to 4.29%, the highest level since early last year. Escalating U.S.-Iran tensions and a sharp rise in oil prices have also intensified inflation concerns, with WTI crude oil futures rising from $67 per barrel at the beginning of the month to nearly $80. The U.S. Department of Labor will release the June consumer price index on Tuesday. Economists surveyed by Bloomberg expect overall CPI to rise less than 4% year-over-year, with both headline and core inflation possibly seeing their first month-over-month decline since January; in May they were 4.2% and 2.9%, respectively. However, recent oil price increases may cause the market to view the data as a lagging indicator. If inflation proves stickier, it could further strengthen rate hike concerns. The market will then focus on Fed Chair Powell's testimony before Congress. ING analysts believe Powell can emphasize that inflation expectations remain relatively moderate and that there is sufficient basis to keep rates unchanged; even if a rate hike eventually occurs, it may be reversed later, and the magnitude of future rate cuts could still be greater than that of rate hikes.

[Analysis: Fed Rate Hike Expectations for July Rise, Bitcoin Falls]On July 14, Bitcoin fell over 2% in the past 24 hours, now trading at about $62,380. Market expectations for the Fed to raise rates as early as July have clearly heated up, with money markets pricing in about a 50% probability of a rate hike this month, up from just about 10% a few days ago. The change in expectations stems from Fed Governor Waller stating that officials may need to raise rates to control price pressures. The two-year U.S. Treasury yield subsequently rose to 4.29%, the highest level since early last year. Escalating U.S.-Iran tensions and a sharp rise in oil prices have also intensified inflation concerns, with WTI crude oil futures rising from $67 per barrel at the beginning of the month to nearly $80. The U.S. Department of Labor will release the June consumer price index on Tuesday. Economists surveyed by Bloomberg expect overall CPI to rise less than 4% year-over-year, with both headline and core inflation possibly seeing their first month-over-month decline since January; in May they were 4.2% and 2.9%, respectively. However, recent oil price increases may cause the market to view the data as a lagging indicator. If inflation proves stickier, it could further strengthen rate hike concerns. The market will then focus on Fed Chair Powell's testimony before Congress. ING analysts believe Powell can emphasize that inflation expectations remain relatively moderate and that there is sufficient basis to keep rates unchanged; even if a rate hike eventually occurs, it may be reversed later, and the magnitude of future rate cuts could still be greater than that of rate hikes.

Analysis: Fed Rate Hike Expectations for July Rise, Bitcoin Falls

On July 14, according to Cboe data, the U.S. stock VIX fear index currently stands at 17.16, compared to the previous close of 15.03, up 2.13 points or 14.17% in a single day. However, it remains within the normal volatility range and has not entered the panic zone. Separately, according to alternative data, the crypto fear index today is temporarily at 22 (compared to 26 yesterday), returning to the 'extreme fear' zone.

[U.S. Stock VIX Fear Index Rises 14.17% in a Single Day, Crypto Returns to 'Extreme Fear' Zone]On July 14, according to Cboe data, the U.S. stock VIX fear index currently stands at 17.16, compared to the previous close of 15.03, up 2.13 points or 14.17% in a single day. However, it remains within the normal volatility range and has not entered the panic zone. Separately, according to alternative data, the crypto fear index today is temporarily at 22 (compared to 26 yesterday), returning to the 'extreme fear' zone.

U.S. Stock VIX Fear Index Rises 14.17% in a Single Day, Crypto Returns to 'Extreme Fear' Zone

According to Beating monitoring, SoftBank founder Masayoshi Son predicts that by 2040, global data centers will require 3 terawatts of electricity. In the short term, the increase in power demand will mainly rely on natural gas. About 15 years later, nuclear fusion may become a cheaper, cleaner, and safer alternative. This is not just a verbal judgment. SoftBank Vision Fund 2 has consecutively invested in the U.S. nuclear fusion company Helion, participating in its Series F round in 2025 and Series G round in 2026. Helion's latest round raised $465 million, valuing the company at $15.5 billion. Nuclear fusion has not yet achieved commercial power generation, and there is still significant uncertainty about whether it can provide large-scale power on schedule. Faced with doubts about the AI bubble, Son called it an "extremely stupid question." He believes that the huge investment in data centers will eventually yield returns.

[Masayoshi Son Bets on Nuclear Fusion to Power AI; SoftBank Invests in Two Rounds]According to Beating monitoring, SoftBank founder Masayoshi Son predicts that by 2040, global data centers will require 3 terawatts of electricity. In the short term, the increase in power demand will mainly rely on natural gas. About 15 years later, nuclear fusion may become a cheaper, cleaner, and safer alternative. This is not just a verbal judgment. SoftBank Vision Fund 2 has consecutively invested in the U.S. nuclear fusion company Helion, participating in its Series F round in 2025 and Series G round in 2026. Helion's latest round raised $465 million, valuing the company at $15.5 billion. Nuclear fusion has not yet achieved commercial power generation, and there is still significant uncertainty about whether it can provide large-scale power on schedule. Faced with doubts about the AI bubble, Son called it an "extremely stupid question." He believes that the huge investment in data centers will eventually yield returns.

Masayoshi Son Bets on Nuclear Fusion to Power AI; SoftBank Invests in Two Rounds

According to Web3 investment fund ABCDE blog, Web3 interoperability infrastructure PolyHedra has now received seed and strategic rounds of funding from a range of institutions including Binance Labs, Polychain Capital, Animoca Brands, Sparkle Ventures, ABCDE and Danhua Capital, with ABCDE investing in PolyHedra in the seed round.

Detail

【ZK full-stack project PolyHedra receives new round of investment】According to Web3 investment fund ABCDE blog, Web3 interoperability infrastructure PolyHedra has now received seed and strategic rounds of funding from a range of institutions including Binance Labs, Polychain Capital, Animoca Brands, Sparkle Ventures, ABCDE and Danhua Capital, with ABCDE investing in PolyHedra in the seed round.

ZK full-stack project PolyHedra receives new round of investment

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ZK full-stack project PolyHedra receives new round of investment

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