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On July 15, Indian AI programming startup Emergent completed a $130 million Series C funding round, achieving a post-money valuation of $1.5 billion, a significant increase from its $300 million valuation during the Series B funding in January this year. The round was led by Creaegis, with participation from Khosla Ventures, SoftBank Vision Fund II, Lightspeed, Y Combinator, and others, bringing the company's total funding to $230 million. Emergent primarily targets entrepreneurs and small to medium-sized enterprises, offering an integrated AI development platform that covers programming, deployment, hosting, testing, and debugging. The company reported an annualized revenue run rate of $120 million and over 200,000 paying customers. The funding will mainly be used to advance product development, enhance AI agent workflow capabilities, and expand market presence, including considerations for establishing an office in Europe.

[Indian AI Programming Startup Emergent Raises $130 Million in Series C Funding, Valuation Reaches $1.5 Billion]On July 15, Indian AI programming startup Emergent completed a $130 million Series C funding round, achieving a post-money valuation of $1.5 billion, a significant increase from its $300 million valuation during the Series B funding in January this year. The round was led by Creaegis, with participation from Khosla Ventures, SoftBank Vision Fund II, Lightspeed, Y Combinator, and others, bringing the company's total funding to $230 million. Emergent primarily targets entrepreneurs and small to medium-sized enterprises, offering an integrated AI development platform that covers programming, deployment, hosting, testing, and debugging. The company reported an annualized revenue run rate of $120 million and over 200,000 paying customers. The funding will mainly be used to advance product development, enhance AI agent workflow capabilities, and expand market presence, including considerations for establishing an office in Europe.

Indian AI Programming Startup Emergent Raises $130 Million in Series C Funding, Valuation Reaches $1.5 Billion

According to monitoring by Dongcha Beating, the first AI smart body phone ("Doubao AI Smart Body Phone"), co-developed by ByteDance and ZTE Nubia, will see multiple models released this year, with one model set to debut during the 2026 World Artificial Intelligence Conference. The overall stock is approximately 200,000 units, with the initial stock being less than 100,000 units. Previously, the first generation Doubao phone (the Nubia M153 technical preview version) was released on December 1, 2025, and its core positioning was as an "engineering prototype," leading to a very restrained stock volume, and it will not be produced again after selling out. The initial stock of about 30,000 units did not see additional material investment, causing the second-hand market price of the Doubao phone to spike, with the highest selling price reaching 7,999 yuan, far exceeding the official price of 3,499 yuan. Supply chain insiders indicate that the initial stock of this generation of products far exceeds that of the previous generation, with some component scales exceeding one million. However, due to rising costs of upstream components, the stock has undergone several adjustments, decreasing from the original 300,000 to around 200,000 units.

[Doubao AI Phone to Launch Multiple Models This Year, Debuting at 2026 World AI Conference]According to monitoring by Dongcha Beating, the first AI smart body phone ("Doubao AI Smart Body Phone"), co-developed by ByteDance and ZTE Nubia, will see multiple models released this year, with one model set to debut during the 2026 World Artificial Intelligence Conference. The overall stock is approximately 200,000 units, with the initial stock being less than 100,000 units. Previously, the first generation Doubao phone (the Nubia M153 technical preview version) was released on December 1, 2025, and its core positioning was as an "engineering prototype," leading to a very restrained stock volume, and it will not be produced again after selling out. The initial stock of about 30,000 units did not see additional material investment, causing the second-hand market price of the Doubao phone to spike, with the highest selling price reaching 7,999 yuan, far exceeding the official price of 3,499 yuan. Supply chain insiders indicate that the initial stock of this generation of products far exceeds that of the previous generation, with some component scales exceeding one million. However, due to rising costs of upstream components, the stock has undergone several adjustments, decreasing from the original 300,000 to around 200,000 units.

Doubao AI Phone to Launch Multiple Models This Year, Debuting at 2026 World AI Conference

According to monitoring by Dongcha Beating, The Information has reported that the gross margin of DeepSeek V4 API has reached between 70% and 80%. The previous version stated it was over 50%. DeepSeek's API pricing is significantly lower than that of OpenAI and Anthropic. Insiders indicate that the company maintains a high gross margin by optimizing its infrastructure, allowing it to handle more requests with fewer chips. This data has not yet been confirmed by DeepSeek.

[DeepSeek V4 API Achieves Gross Margin of Up to 80%, Previously Over 50%]According to monitoring by Dongcha Beating, The Information has reported that the gross margin of DeepSeek V4 API has reached between 70% and 80%. The previous version stated it was over 50%. DeepSeek's API pricing is significantly lower than that of OpenAI and Anthropic. Insiders indicate that the company maintains a high gross margin by optimizing its infrastructure, allowing it to handle more requests with fewer chips. This data has not yet been confirmed by DeepSeek.

DeepSeek V4 API Achieves Gross Margin of Up to 80%, Previously Over 50%

On July 15, according to BIT(bit.com) market data, U.S. stocks opened with a broad decline in the optical communication sector. Corning (GLW) fell 3.43%, NOK dropped 1.11%, AAOI decreased by 6.4%, LITE was down 3.2%, and MRVL declined by 2.8%.

[U.S. Stocks Open with Broad Decline in Optical Communication Sector, MRVL Down 2.8%, AAOI Down 6.4%]On July 15, according to BIT(bit.com) market data, U.S. stocks opened with a broad decline in the optical communication sector. Corning (GLW) fell 3.43%, NOK dropped 1.11%, AAOI decreased by 6.4%, LITE was down 3.2%, and MRVL declined by 2.8%.

U.S. Stocks Open with Broad Decline in Optical Communication Sector, MRVL Down 2.8%, AAOI Down 6.4%

On July 15, BlackRock (BLK.US) surged over 8%, reaching a high of $1,109.99. In terms of news, BlackRock's second-quarter revenue increased by 31% year-on-year to $7.084 billion, with an adjusted operating profit margin rising to 45.9%, the highest level in nearly five years. By the end of the quarter, assets under management grew to $15.3 trillion. BlackRock has raised its planned stock buyback program for 2026 to approximately $2 billion.

[BlackRock Surges Over 8%, Assets Under Management Exceed $15 Trillion]On July 15, BlackRock (BLK.US) surged over 8%, reaching a high of $1,109.99. In terms of news, BlackRock's second-quarter revenue increased by 31% year-on-year to $7.084 billion, with an adjusted operating profit margin rising to 45.9%, the highest level in nearly five years. By the end of the quarter, assets under management grew to $15.3 trillion. BlackRock has raised its planned stock buyback program for 2026 to approximately $2 billion.

BlackRock Surges Over 8%, Assets Under Management Exceed $15 Trillion

According to the Iranian Fars News Agency, the Tehran Province Electricity Distribution Company reported that 187 illegal cryptocurrency mining devices were seized at two industrial units in Khorasan and Shahriar.

[187 Illegal Mining Machines Seized in Tehran Province]According to the Iranian Fars News Agency, the Tehran Province Electricity Distribution Company reported that 187 illegal cryptocurrency mining devices were seized at two industrial units in Khorasan and Shahriar.

187 Illegal Mining Machines Seized in Tehran Province

On July 15, Alibaba's stock price increased by 7.13%, closing at $120.33 per share, reaching its highest level since June 9. The company's total market capitalization stood at $288.4 billion. Earlier reports indicated that Alibaba's Qianwen AI capabilities will be integrated into Apple's smart devices.

[Alibaba's US Stock Price Rises by 7%]On July 15, Alibaba's stock price increased by 7.13%, closing at $120.33 per share, reaching its highest level since June 9. The company's total market capitalization stood at $288.4 billion. Earlier reports indicated that Alibaba's Qianwen AI capabilities will be integrated into Apple's smart devices.

Alibaba's US Stock Price Rises by 7%

On July 15, the potential indicator of U.S. producer price inflation for June was weaker than expected, suggesting that the impact of the war in Iran is still somewhat under control. Data shows that the core PPI index, excluding food and energy, rose 4.7% year-on-year and increased 0.2% month-on-month. The overall PPI growth rate slowed, with a year-on-year increase of 5.5%. The decline in energy costs last month helped alleviate inflationary pressures. This may provide the Federal Reserve with more room to delay interest rate hikes—especially after macro data on Tuesday indicated that June's CPI was also more moderate than expected. However, with the escalation of conflicts in the Middle East, this respite may not last long. Energy prices fell by 6.4% in June, and transportation and warehousing prices also decreased. Freight rates remain high due to rising fuel costs and a shortage of drivers caused by stricter immigration policies implemented by the Trump administration. Meanwhile, food prices experienced a decline for the first time in three months. Overall, food prices in the U.S. have continued to rise this year due to various factors, including severe weather, war, and tariffs.

[U.S. June PPI Inflation Indicator Falls Short of Expectations, May Provide More Room for Fed to Delay Rate Hikes]On July 15, the potential indicator of U.S. producer price inflation for June was weaker than expected, suggesting that the impact of the war in Iran is still somewhat under control. Data shows that the core PPI index, excluding food and energy, rose 4.7% year-on-year and increased 0.2% month-on-month. The overall PPI growth rate slowed, with a year-on-year increase of 5.5%. The decline in energy costs last month helped alleviate inflationary pressures. This may provide the Federal Reserve with more room to delay interest rate hikes—especially after macro data on Tuesday indicated that June's CPI was also more moderate than expected. However, with the escalation of conflicts in the Middle East, this respite may not last long. Energy prices fell by 6.4% in June, and transportation and warehousing prices also decreased. Freight rates remain high due to rising fuel costs and a shortage of drivers caused by stricter immigration policies implemented by the Trump administration. Meanwhile, food prices experienced a decline for the first time in three months. Overall, food prices in the U.S. have continued to rise this year due to various factors, including severe weather, war, and tariffs.

U.S. June PPI Inflation Indicator Falls Short of Expectations, May Provide More Room for Fed to Delay Rate Hikes

The Iran conflict has evolved into a game centered around the Strait of Hormuz—a vital waterway for global oil, gas, fertilizers, and other commodities. If the conflict ultimately results in the permanent control of the Strait of Hormuz by Iran or the United States, it could signify the end of the principle of free passage on the high seas that has supported global trade for centuries. Eric Glandt, a senior analyst at consulting firm Rystad Energy, stated, "This could set a dangerous precedent, significantly increasing the costs of international maritime trade, which will ultimately be passed on to end consumers." Since the U.S.-led attacks began on February 28, Iran almost immediately announced the closure of the Strait of Hormuz, creating the largest oil supply shock in history. With new leverage over the global economy, Tehran is striving to maintain this bargaining chip. Vessels wishing to cross the strait must either coordinate with Iran's newly established Persian Gulf Strait Management Authority (which may involve high fees) or face the risk of being attacked by Iranian armed forces. Rob Tumel, a senior portfolio manager at Tortoise Capital, pointed out that if tolls in the Strait of Hormuz become the norm for maritime transport, shipping costs could rise. While the fees are concerning, they are not the main issue. Reports indicate that Iran previously charged oil tankers $1 to $2 per barrel, amounting to about $2 million for each Very Large Crude Carrier (VLCC). However, even if shipping companies are willing to pay, insurers are likely to refuse coverage for vessels making payments to sanctioned entities, including several key Iranian institutions. Nigel Green, CEO of financial consultancy deVere Group, stated, "Setting aside legal debates, insurers will prioritize this issue. Underwriters may directly cease coverage for fees involving sanction risks." Even if fees are collected by third parties like Oman, such charges could still violate international maritime law, including the United Nations Convention on the Law of the Sea, giving insurers the right to refuse voyages or terminate coverage. Broader concerns arise that the fee model in the Strait of Hormuz could set a precedent for other global chokepoints, encouraging countries and regions like Indonesia, Singapore, and the UK to weaponize their geographic advantages. According to Rystad Energy analysts, the potential annual toll revenue from the world's top ten chokepoints, including the Strait of Hormuz, Gibraltar, Dover, and Malacca, could exceed $136 billion, representing a significant "undeveloped" sovereign revenue opportunity. "A world where a chokepoint is monetized is likely to be more inflationary, more divided, and more militarized," analysts warned. (Jin Shi)

[If Hormuz Fees Set a Precedent, It Could Open a $136 Billion 'Pandora's Box']The Iran conflict has evolved into a game centered around the Strait of Hormuz—a vital waterway for global oil, gas, fertilizers, and other commodities. If the conflict ultimately results in the permanent control of the Strait of Hormuz by Iran or the United States, it could signify the end of the principle of free passage on the high seas that has supported global trade for centuries. Eric Glandt, a senior analyst at consulting firm Rystad Energy, stated, "This could set a dangerous precedent, significantly increasing the costs of international maritime trade, which will ultimately be passed on to end consumers." Since the U.S.-led attacks began on February 28, Iran almost immediately announced the closure of the Strait of Hormuz, creating the largest oil supply shock in history. With new leverage over the global economy, Tehran is striving to maintain this bargaining chip. Vessels wishing to cross the strait must either coordinate with Iran's newly established Persian Gulf Strait Management Authority (which may involve high fees) or face the risk of being attacked by Iranian armed forces. Rob Tumel, a senior portfolio manager at Tortoise Capital, pointed out that if tolls in the Strait of Hormuz become the norm for maritime transport, shipping costs could rise. While the fees are concerning, they are not the main issue. Reports indicate that Iran previously charged oil tankers $1 to $2 per barrel, amounting to about $2 million for each Very Large Crude Carrier (VLCC). However, even if shipping companies are willing to pay, insurers are likely to refuse coverage for vessels making payments to sanctioned entities, including several key Iranian institutions. Nigel Green, CEO of financial consultancy deVere Group, stated, "Setting aside legal debates, insurers will prioritize this issue. Underwriters may directly cease coverage for fees involving sanction risks." Even if fees are collected by third parties like Oman, such charges could still violate international maritime law, including the United Nations Convention on the Law of the Sea, giving insurers the right to refuse voyages or terminate coverage. Broader concerns arise that the fee model in the Strait of Hormuz could set a precedent for other global chokepoints, encouraging countries and regions like Indonesia, Singapore, and the UK to weaponize their geographic advantages. According to Rystad Energy analysts, the potential annual toll revenue from the world's top ten chokepoints, including the Strait of Hormuz, Gibraltar, Dover, and Malacca, could exceed $136 billion, representing a significant "undeveloped" sovereign revenue opportunity. "A world where a chokepoint is monetized is likely to be more inflationary, more divided, and more militarized," analysts warned. (Jin Shi)

If Hormuz Fees Set a Precedent, It Could Open a $136 Billion 'Pandora's Box'

Fabio Panetta, Member of the Executive Board of the ECB, said that the digital euro will be a stable and reliable currency, and if the European Central Bank and European authorities decide to issue a digital euro, it can be issued within four to five years.

Detail

【ECB's Panetta: ECB can issue digital euro in four to five years】Fabio Panetta, Member of the Executive Board of the ECB, said that the digital euro will be a stable and reliable currency, and if the European Central Bank and European authorities decide to issue a digital euro, it can be issued within four to five years.

ECB's Panetta: ECB can issue digital euro in four to five years

Goldman Sachs Report Deconstructs the Competitive Landscape of China's AI Large Models: Who Will Be the Long-Term Winner?

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ECB's Panetta: ECB can issue digital euro in four to five years

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