九菲特
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九菲特
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Occasional Trader
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From July 23 to 24, spot Bitcoin ETF net outflows exceeded $465 million, breaking the seven-day streak of inflows.
Bitcoin price is 65,600, still half short of the 126,300 target for October 2025.
This downturn was not triggered by a single black swan event, so there is no such thing as a day when the bad news is “all out.”
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Bitcoin price is 65,600, still half short of the 126,300 target for October 2025.
This downturn was not triggered by a single black swan event, so there is no such thing as a day when the bad news is “all out.”
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As of July 27, 2026 at 12:00 noon, media reports from various sources say that Nvidia is in talks with OpenAI and intends to provide a financial guarantee of around $250 billion for Ohio data center project. The project is managed by SoftBank, with planned computing capacity reaching 10 gigawatts.
Let’s first break down the nature of this money. The guarantee is not equity, and therefore does not get recorded in OpenAI’s owner’s equity. The guarantee is also not revenue, so it will not appear in Nvidia’s income statement for the current period. Instead, the guarantee is a contingent liability—only if the tenant defaults would it be converted into actual spending.
The logic runs in four steps. Nvidia provides credit enhancement. The project company uses that to obtain low-cost debt. The debt is then converted into construction investment. The bulk of the construction investment goes to purchasing GPUs, and those purchases ultimately flow back into Nvidia’s revenue.
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Let’s first break down the nature of this money. The guarantee is not equity, and therefore does not get recorded in OpenAI’s owner’s equity. The guarantee is also not revenue, so it will not appear in Nvidia’s income statement for the current period. Instead, the guarantee is a contingent liability—only if the tenant defaults would it be converted into actual spending.
The logic runs in four steps. Nvidia provides credit enhancement. The project company uses that to obtain low-cost debt. The debt is then converted into construction investment. The bulk of the construction investment goes to purchasing GPUs, and those purchases ultimately flow back into Nvidia’s revenue.
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Partly True
Michael Burry announced on July 26, 2026, news of increasing his short position: Micron at $933.86, Nvidia at $210.28, Caterpillar at $893.49, and the iShares Semiconductor ETF at $535.83.
The market took this as a bearish signal, interpreting it as a warning from the “big short” to AI.
What’s being overlooked is the cost of opening the position.
In early July, Burry had shorted Micron at $1,051.87, saying the semiconductor sector might see a pullback of around 30%. The added position is now at $933.86.
From $1,051.87 to $933.86, the underlying has already dropped by 11.2%. This add-on was made on top of an existing profit, not while holding an underwater position.
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The market took this as a bearish signal, interpreting it as a warning from the “big short” to AI.
What’s being overlooked is the cost of opening the position.
In early July, Burry had shorted Micron at $1,051.87, saying the semiconductor sector might see a pullback of around 30%. The added position is now at $933.86.
From $1,051.87 to $933.86, the underlying has already dropped by 11.2%. This add-on was made on top of an existing profit, not while holding an underwater position.
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This early Bitcoin investor who died after accidentally falling from his own apartment in Paraguay led an extremely high-profile life. In the past, he often showed off his private jet and luxury yachts on social media.
Meanwhile, he had also endorsed and called for various cryptocurrency projects, claiming he was a key supporter. However, the end result for most of these projects was that the coin price went to zero or the project was shut down.
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Meanwhile, he had also endorsed and called for various cryptocurrency projects, claiming he was a key supporter. However, the end result for most of these projects was that the coin price went to zero or the project was shut down.
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Last weekend, what made investors particularly excited was that Buffett’s Berkshire finally started spending money—its biggest check, $10 billion, went into a private placement for Google’s parent company, Alphabet.
At the same time, the old man has continued to increase his holdings in Japanese trading companies, and he also repurchased $4.5 billion worth of his own shares.
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At the same time, the old man has continued to increase his holdings in Japanese trading companies, and he also repurchased $4.5 billion worth of his own shares.
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The Chinese investor in the crypto circle, Chun Tak Yeh, who bought Bitcoin with a $60 entry back then, has reportedly died after falling from a high building.
Paraguayan police said he is believed to have fallen from the 30th floor of his own apartment. When his body was found, he was reportedly found naked. The apartment door was left open and the interior was in disarray. After initial verification, it was determined that he is the founder of Quantum Fintech. He entered the Bitcoin market in 2013 and participated in investments.
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Paraguayan police said he is believed to have fallen from the 30th floor of his own apartment. When his body was found, he was reportedly found naked. The apartment door was left open and the interior was in disarray. After initial verification, it was determined that he is the founder of Quantum Fintech. He entered the Bitcoin market in 2013 and participated in investments.
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Also counts as riding on the AI hype—this thing has only been out for less than a month, yet it has sold more than 600 orders. After deducting the platform’s commission, the seller can basically make over 20,000 yuan a month.
3D-printed fake flowers inspired by ChatGPT, Claude, and Grok.
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3D-printed fake flowers inspired by ChatGPT, Claude, and Grok.
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In front there is a Xiaomi laptop, and its thickness isn’t even as thick as a one-yuan coin.
Behind it is a Huawei laptop, and its weight isn’t even as heavy as a cup of milk tea.
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Behind it is a Huawei laptop, and its weight isn’t even as heavy as a cup of milk tea.
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It seems that today’s young people are not as keen on studying abroad as they used to. According to The Economist, the number of people in China who express an interest in studying overseas is declining rapidly, while at the same time, the share of people who graduate abroad and then return to China is steadily rising.
The cost of studying in Europe and the United States is getting higher and higher. The pay gap between returnees and graduates from domestic universities is narrowing. On top of that, the number of available spots for getting a work visa locally after graduation is becoming increasingly tight. These have become the main reasons.
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The cost of studying in Europe and the United States is getting higher and higher. The pay gap between returnees and graduates from domestic universities is narrowing. On top of that, the number of available spots for getting a work visa locally after graduation is becoming increasingly tight. These have become the main reasons.
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Surprisingly, it took four years to be noticed. A former NetEase game executive has been sentenced for stealing and selling accounts. While serving as an approval supervisor, he abused his back-end permissions and changed the passwords of 171 Dream Journey accounts that had not been logged into for a long time, then illegally sold the equipment for profit of 1.736 million yuan.
Currently, the court has officially issued a first-instance verdict. In addition to refunding the illegal proceeds, he was sentenced to three years of suspended imprisonment and fined 20,000 yuan.
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Currently, the court has officially issued a first-instance verdict. In addition to refunding the illegal proceeds, he was sentenced to three years of suspended imprisonment and fined 20,000 yuan.
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The sky’s falling—suppressed-sex theory pioneer Fengge, connecting live with the tax authorities, and real-name举报 the coal boss theory pioneer Wang Hailin for allegedly long-term tax evasion.
In China, these are extremely serious allegations.
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In China, these are extremely serious allegations.
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Trump’s eldest daughter Ivanka, who is no longer involved in politics, and her husband have recently been traveling everywhere and taking the kids on vacation. They’ve been living a life of semi-retirement.
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Right under Anthropic’s leadership, there are concerns about what motivates newly hired talent, believing they are driven by money rather than genuine alignment with the company’s vision.
Anthropic has just posted an internal investigator recruitment notice, whose responsibilities include monitoring whether employees engage in any improper conduct to prevent Claude’s sensitive data and assets from leaking.
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Anthropic has just posted an internal investigator recruitment notice, whose responsibilities include monitoring whether employees engage in any improper conduct to prevent Claude’s sensitive data and assets from leaking.
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Trump just issued two executive orders, hitting hard at surrogacy and going to the U.S. to give birth. The orders require the U.S. government to prohibit the issuance or recognition of citizenship for children who were specifically born in the United States, or who were born through surrogacy in the U.S.
At the same time, it raised “birth tourism” to the level of national homeland security. Intermediaries and institutions that help people with surrogacy and trips to the U.S. to give birth will face severe crackdowns.
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At the same time, it raised “birth tourism” to the level of national homeland security. Intermediaries and institutions that help people with surrogacy and trips to the U.S. to give birth will face severe crackdowns.
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During this week of “Huawei bamboo cicada” fermentation, not only do netizens quarrel with each other online—news outlets in Guangdong and Jiangsu are now also trading jabs across the distance.
Jiangsu says: “We’re advising Huawei to be magnanimous—are you even a good fit?”
Guangdong replies: “It’s only allowed to hype it up—no joking or banter from the public?”
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Jiangsu says: “We’re advising Huawei to be magnanimous—are you even a good fit?”
Guangdong replies: “It’s only allowed to hype it up—no joking or banter from the public?”
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The U.S. Treasury Secretary took part in a 6-minute interview and for the first time clearly explained why the United States intervened unexpectedly in the yen after 15 years. He mentioned the Asian financial crisis in the mid-1990s, when one of the triggers was the sharp depreciation of the yen.
At the same time, if the yen falls too hard, it could hit the global economy, so besides this round of currency intervention, he will also watch the policies that could help the yen rebound afterward.
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At the same time, if the yen falls too hard, it could hit the global economy, so besides this round of currency intervention, he will also watch the policies that could help the yen rebound afterward.
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The current state of open-source AI: the public can use it for free, but commercial organizations have to pay.
Alibaba plans to enable revenue sharing for Qwen3.8 Max. If commercial companies use it to develop paid AI services and make a lot of money, they have to share part of their earnings with Alibaba.
Similar terms apply to Kimi K3: if annual revenue exceeds $20 million, the parties would need to negotiate a split of up to 30% with Moonshot (the company behind “Moon’s Dark Side”).
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Alibaba plans to enable revenue sharing for Qwen3.8 Max. If commercial companies use it to develop paid AI services and make a lot of money, they have to share part of their earnings with Alibaba.
Similar terms apply to Kimi K3: if annual revenue exceeds $20 million, the parties would need to negotiate a split of up to 30% with Moonshot (the company behind “Moon’s Dark Side”).
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Stop纠结 about which office chair to buy
China’s competitive giants like ByteDance have already chosen a new solution for you
But switching from humanscale to Qingxian S1—doesn’t it just look like cost reduction and efficiency improvement?
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China’s competitive giants like ByteDance have already chosen a new solution for you
But switching from humanscale to Qingxian S1—doesn’t it just look like cost reduction and efficiency improvement?
20% discount fee invitation code: 9FATE
Link: https://www.binance.com/zh-CN/activity/referral/bind-ref
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