Overview
- Longxin Technology's stock surged on its Monday, July 27科创板 debut, rising about 465.8% and lifting its market value above ¥3.28 trillion while trading volumes set A‑share records.
- Longxin's prospectus shows Alibaba and a consortium of banks were strategic shareholders that saw paper gains worth hundreds of billions of yuan and a Xiaomi unit was reported to have roughly ¥700 million in paper profit.
- Xiaomi's executive Xu Jieyun publicly warned that a subsidiary's holding should not be treated as personal wealth, stressing the difference between company investment and individual assets.
- Safe Superintelligence (SSI) and Nvidia announced a long-term partnership under which Nvidia will supply far more compute and aims to scale SSI's capacity about tenfold in 12 months, while media reports of a roughly $50 billion Nvidia investment in SSI and a potential up-to-$50 billion to $500 billion Hut 8 lease remain unconfirmed by Nvidia.
- Those reports triggered market moves on Tuesday and Wednesday, with Nvidia shares and five‑year CDS widening, and Asia semiconductor names including SK Hynix and Samsung sliding sharply; at the same time Chinese automakers confirmed near-term steps toward commercial robots and high-end EV launches, with BYD saying a humanoid robot will appear in August and smart and Great Wall announcing early August product rollouts.