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The KOSPI index in South Korea has dropped 9% during the day, currently standing at 6143.85 points. SK Hynix fell over 12%, while Samsung Electronics declined by more than 10%.

[South Korea's KOSPI Index Plummets 9% to 6143.85 Points]The KOSPI index in South Korea has dropped 9% during the day, currently standing at 6143.85 points. SK Hynix fell over 12%, while Samsung Electronics declined by more than 10%.

South Korea's KOSPI Index Plummets 9% to 6143.85 Points

On July 28, the Hong Kong stock market saw a collective plunge in memory chip stocks, with the Southern Double Long Hynix falling over 21% and the Southern Double Long Samsung Electronics dropping over 17%. Additionally, Zhaoyi Innovation fell over 11% and Lanqi Technology dropped over 9%. Overnight, U.S. chip stocks experienced severe declines, triggering a chain reaction that led to a complete collapse of the Japanese and Korean stock markets today. The Korean Composite Index at one point fell over 8%, with Hynix down over 11% and Samsung Electronics down over 9%. On the news front, Nvidia not only reached a $500 billion AI collaboration with SK Group but is also exploring providing up to $250 billion in financing guarantees for OpenAI. This has reignited market concerns regarding the cash flow logic of AI capital expenditure cycles. Nvidia's 5-year CDS surged 14 basis points to 82 basis points in a single day, marking the largest single-day increase in history. The market has realized that Nvidia is no longer a risk-free, easy profit 'pure shovel seller' but has instead been downgraded to a hidden unlimited liability guarantor on the entire aggressive debt chain of AI. Should downstream AI applications fail to monetize as expected, Nvidia will be forced to bear fatal joint debt risks.

[Korean Stocks Plunge; Double Long Positions in Hynix and Samsung Drop Over 21% and 17% Respectively]On July 28, the Hong Kong stock market saw a collective plunge in memory chip stocks, with the Southern Double Long Hynix falling over 21% and the Southern Double Long Samsung Electronics dropping over 17%. Additionally, Zhaoyi Innovation fell over 11% and Lanqi Technology dropped over 9%. Overnight, U.S. chip stocks experienced severe declines, triggering a chain reaction that led to a complete collapse of the Japanese and Korean stock markets today. The Korean Composite Index at one point fell over 8%, with Hynix down over 11% and Samsung Electronics down over 9%. On the news front, Nvidia not only reached a $500 billion AI collaboration with SK Group but is also exploring providing up to $250 billion in financing guarantees for OpenAI. This has reignited market concerns regarding the cash flow logic of AI capital expenditure cycles. Nvidia's 5-year CDS surged 14 basis points to 82 basis points in a single day, marking the largest single-day increase in history. The market has realized that Nvidia is no longer a risk-free, easy profit 'pure shovel seller' but has instead been downgraded to a hidden unlimited liability guarantor on the entire aggressive debt chain of AI. Should downstream AI applications fail to monetize as expected, Nvidia will be forced to bear fatal joint debt risks.

Korean Stocks Plunge; Double Long Positions in Hynix and Samsung Drop Over 21% and 17% Respectively

According to Beating Monitoring, Microsoft has launched its first self-developed cybersecurity model, MAI-Cyber-1-Flash, which is integrated into the vulnerability scanning system MDASH. It is a fine-tuned version of MAI-Code-1-Flash, with a total of 137 billion parameters and 5 billion activated at a time, supporting 256K context. MDASH will enable it to handle up to 90% of tasks related to vulnerability discovery, verification, classification, and remediation, while the most challenging 10% will be managed by GPT-5.4. Microsoft claims that this combination is nearly 50% cheaper than the existing GPT-5.4, 5.4 mini, and 5.3 Codex solutions. In Microsoft's CyberGym test, 'MAI-Cyber-1-Flash + GPT-5.4' scored 95.95%, compared to 85.6% for GPT-5.5 Cyber and 83.8% for Anthropic Mythos 5. It is important to note that this comparison is between complete models and agent combinations, and should not be interpreted as MAI-Cyber-1-Flash individually outperforming these models. It will also connect with the security agent product Project Perception, where red, blue, and green agents are responsible for finding vulnerabilities, assessing risks, and patching defenses, respectively. Project Perception will enter public beta on August 3, but MAI-Cyber-1-Flash is currently only available for private testing to approved MDASH clients.

[Microsoft's First Cybersecurity Model: 90% of Tasks Handled by In-House Mini Models, Cost Reduced by Half]According to Beating Monitoring, Microsoft has launched its first self-developed cybersecurity model, MAI-Cyber-1-Flash, which is integrated into the vulnerability scanning system MDASH. It is a fine-tuned version of MAI-Code-1-Flash, with a total of 137 billion parameters and 5 billion activated at a time, supporting 256K context. MDASH will enable it to handle up to 90% of tasks related to vulnerability discovery, verification, classification, and remediation, while the most challenging 10% will be managed by GPT-5.4. Microsoft claims that this combination is nearly 50% cheaper than the existing GPT-5.4, 5.4 mini, and 5.3 Codex solutions. In Microsoft's CyberGym test, 'MAI-Cyber-1-Flash + GPT-5.4' scored 95.95%, compared to 85.6% for GPT-5.5 Cyber and 83.8% for Anthropic Mythos 5. It is important to note that this comparison is between complete models and agent combinations, and should not be interpreted as MAI-Cyber-1-Flash individually outperforming these models. It will also connect with the security agent product Project Perception, where red, blue, and green agents are responsible for finding vulnerabilities, assessing risks, and patching defenses, respectively. Project Perception will enter public beta on August 3, but MAI-Cyber-1-Flash is currently only available for private testing to approved MDASH clients.

Microsoft's First Cybersecurity Model: 90% of Tasks Handled by In-House Mini Models, Cost Reduced by Half

According to monitoring by Beating, Thinking Machines Lab, founded by former OpenAI CTO Mira Murati, has lost another co-founder. Weng Li announced her departure, citing frequent illnesses over the past seven months and that the ongoing pressure and workload have exceeded her physical capacity. She took a month off due to illness while the company was racing to launch its first open-weight model, Inkling. Although she considered reducing her responsibilities, she could not accept only committing part of her energy. Moving forward, she hopes to find a research position with clearer responsibilities and a more stable pace, while continuing her work in AI research. This marks the fourth co-founder to leave since the establishment of Thinking Machines. Andrew Tulloch previously joined Meta, while Barret Zoph and Luke Metz returned to OpenAI. The company just released its first model, Inkling, about two weeks ago.

[Fourth Co-Founder Leaves Thinking Machines After First Model Release]According to monitoring by Beating, Thinking Machines Lab, founded by former OpenAI CTO Mira Murati, has lost another co-founder. Weng Li announced her departure, citing frequent illnesses over the past seven months and that the ongoing pressure and workload have exceeded her physical capacity. She took a month off due to illness while the company was racing to launch its first open-weight model, Inkling. Although she considered reducing her responsibilities, she could not accept only committing part of her energy. Moving forward, she hopes to find a research position with clearer responsibilities and a more stable pace, while continuing her work in AI research. This marks the fourth co-founder to leave since the establishment of Thinking Machines. Andrew Tulloch previously joined Meta, while Barret Zoph and Luke Metz returned to OpenAI. The company just released its first model, Inkling, about two weeks ago.

Fourth Co-Founder Leaves Thinking Machines After First Model Release

On July 28, CoinDesk reported that, according to a schedule set by Majority Leader John Thune, the U.S. Senate will shift its focus to several other matters while lawmakers debate the details of the CLARITY Act. The Senate will first advance nomination procedures and a sanctions bill against Russia. This means that it is unlikely the Senate will move forward with the CLARITY Act until other matters are resolved or deadlines are reached, which could take several days.

[U.S. Senate Delays Consideration of the CLARITY Act, Focuses on Other Matters]On July 28, CoinDesk reported that, according to a schedule set by Majority Leader John Thune, the U.S. Senate will shift its focus to several other matters while lawmakers debate the details of the CLARITY Act. The Senate will first advance nomination procedures and a sanctions bill against Russia. This means that it is unlikely the Senate will move forward with the CLARITY Act until other matters are resolved or deadlines are reached, which could take several days.

U.S. Senate Delays Consideration of the CLARITY Act, Focuses on Other Matters

On July 28, investor sentiment was dampened due to concerns over Nvidia's significant AI supply agreements and increasing market competition, leading to a sharp decline in the Japanese and South Korean stock markets. The Nikkei 225 index fell by as much as 4%, reaching its lowest level since May 22; the Tokyo Stock Exchange index saw a maximum drop of 2.7%. The South Korean KOSPI index plummeted by 7.6%, marking a new low since April 20. Semiconductor and equipment stocks, including Tokyo Electron, Kioxia, Samsung Electronics, and SK Hynix, led the decline, with losses exceeding 9%. Notably, Kioxia's stock price dropped by 18%, the largest decline since November of last year. Amid a wave of AI-related transactions worth over $750 billion, the cost of Nvidia's debt default insurance surged, causing tech stocks to fall. Hideyuki Ishiguro, Chief Strategist at Nomura Asset Management, stated that following reports of significant investment transactions involving Nvidia, its credit risk has risen, which investors view as a bearish signal. Additionally, Ishiguro pointed out that advancements in semiconductor manufacturing equipment in China pose a threat to Japanese suppliers, who have long held a competitive advantage in this field.

[Chip Stock Sell-off Intensifies, Japanese and South Korean Markets Plunge]On July 28, investor sentiment was dampened due to concerns over Nvidia's significant AI supply agreements and increasing market competition, leading to a sharp decline in the Japanese and South Korean stock markets. The Nikkei 225 index fell by as much as 4%, reaching its lowest level since May 22; the Tokyo Stock Exchange index saw a maximum drop of 2.7%. The South Korean KOSPI index plummeted by 7.6%, marking a new low since April 20. Semiconductor and equipment stocks, including Tokyo Electron, Kioxia, Samsung Electronics, and SK Hynix, led the decline, with losses exceeding 9%. Notably, Kioxia's stock price dropped by 18%, the largest decline since November of last year. Amid a wave of AI-related transactions worth over $750 billion, the cost of Nvidia's debt default insurance surged, causing tech stocks to fall. Hideyuki Ishiguro, Chief Strategist at Nomura Asset Management, stated that following reports of significant investment transactions involving Nvidia, its credit risk has risen, which investors view as a bearish signal. Additionally, Ishiguro pointed out that advancements in semiconductor manufacturing equipment in China pose a threat to Japanese suppliers, who have long held a competitive advantage in this field.

Chip Stock Sell-off Intensifies, Japanese and South Korean Markets Plunge

On July 28, it was reported that Hong Kong storage concept stocks opened lower for adjustment. Southern Double Long SK Hynix (07709.HK) and Southern Double Long Samsung Electronics (07747.HK) both fell nearly 15%. Zhaoyi Innovation (03986.HK) dropped over 8%, while Lanqi Technology (06809.HK) fell nearly 7%. (Jin Shi)

[Hong Kong Storage Concept Stocks Open Lower; Southern Double Long SK Hynix (07709.HK) Declines]On July 28, it was reported that Hong Kong storage concept stocks opened lower for adjustment. Southern Double Long SK Hynix (07709.HK) and Southern Double Long Samsung Electronics (07747.HK) both fell nearly 15%. Zhaoyi Innovation (03986.HK) dropped over 8%, while Lanqi Technology (06809.HK) fell nearly 7%. (Jin Shi)

Hong Kong Storage Concept Stocks Open Lower; Southern Double Long SK Hynix (07709.HK) Declines

On July 28, Anthropic CEO Dario Amodei addressed the controversy surrounding open-weight models, stating that the company has never advocated for a complete ban. After OpenAI, Google, and SpaceX joined the open-source petition, Anthropic remains the only major frontier model company that has not signed. Amodei acknowledged that open-weight models can reduce costs, enhance competition, and allow customers to deploy models independently. He described open models without dangerous capabilities as 'public goods.' However, he disagreed with the notion that open models are necessarily safer and that defenders always benefit more than attackers. Once weights are released, safety restrictions can be removed, and models cannot be retracted. Anthropic proposed three alternative measures: restricting the flow of advanced chips and manufacturing equipment to China; combating industrial-scale model distillation; and requiring all sufficiently powerful models to undergo network attack, biological risk, and alignment testing, regardless of whether they are open or closed source.

[Anthropic Responds to Open Source Controversy: Opposes Ban, But Advocates for Chip and Distillation Restrictions]On July 28, Anthropic CEO Dario Amodei addressed the controversy surrounding open-weight models, stating that the company has never advocated for a complete ban. After OpenAI, Google, and SpaceX joined the open-source petition, Anthropic remains the only major frontier model company that has not signed. Amodei acknowledged that open-weight models can reduce costs, enhance competition, and allow customers to deploy models independently. He described open models without dangerous capabilities as 'public goods.' However, he disagreed with the notion that open models are necessarily safer and that defenders always benefit more than attackers. Once weights are released, safety restrictions can be removed, and models cannot be retracted. Anthropic proposed three alternative measures: restricting the flow of advanced chips and manufacturing equipment to China; combating industrial-scale model distillation; and requiring all sufficiently powerful models to undergo network attack, biological risk, and alignment testing, regardless of whether they are open or closed source.

Anthropic Responds to Open Source Controversy: Opposes Ban, But Advocates for Chip and Distillation Restrictions

On July 28, the South Korean exchange triggered a circuit breaker due to an 8% drop in the KOSPI index, resulting in a 20-minute trading halt.

[KOSPI Index Triggers Circuit Breaker in South Korea]On July 28, the South Korean exchange triggered a circuit breaker due to an 8% drop in the KOSPI index, resulting in a 20-minute trading halt.

KOSPI Index Triggers Circuit Breaker in South Korea

Криптовалютная биржа BitMart заявила о сворачивании деятельности своей торговой платформы после девяти лет работы. В воскресенье, 26 июля, биржа перестала регистрировать новых пользователей.

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