Bitcoin Breaks $77,000 as Crypto Stocks Surge Across the Board
Market Pulse·- During early US trading on August 21, major indices edged higher as Bitcoin surpassed 77,000 dollars and triggered a broad rally in crypto stocks. - The crypto surge was driven by US Treasury Secretary Bessent expanding liquidity support and Trump meeting crypto leaders to urge bill passage. - Meanwhile, Alibaba shares fell over 4%, while markets awaited Nvidia's upcoming earnings report and monitored policy impacts on gold and imports.Pre-market hot trades in US stocks: Alibaba's quarterly profit plummets 38%, leading to a pre-market drop of 3.56%, strategic integration fails to save the market
Price Alert·- Alibaba shares fell 3.56 % in pre-market trading after reporting a 38 % drop in first-quarter net profit to 10.54 billion yuan and a wider negative free cash flow. - Singularity Future Tech surged 138.93 % in pre-market trading following a 30 million dollar private placement plan, a proposed name change to Compower Ltd, and a strategic framework agreement to develop a 900-acre AI data center campus. - Reitar Logtech and other select stocks experienced high volatility and notable pre-market gains driven by financial disclosures, funding activities, and broader market sentiment during earnings season.BABA Earnings: Alibaba Stock Is Falling after Q1 Earnings Despite 45% Cloud Growth
Tip Ranks·- Alibaba Group reported Q1 FY 27 revenue of 268.95 billion yuan, up 9 % year-over-year but below expectations, while non-GAAP diluted earnings per ADS fell 42 % to $1.26. - The company's AI Cloud and Compute Services revenue grew 45 % year-over-year to 48.44 billion yuan driven by strong demand, though profitability declined due to aggressive AI infrastructure spending. - Adjusted EBITA dropped 30 % year-over-year to 27.33 billion yuan and net income fell 75 % to 10.54 billion yuan, resulting in a negative free cash flow outflow of 44.67 billion yuan.ShopeePay Singapore unlocks China QR payments with TenPay Global
Singapore Business Review·- ShopeePay Singapore and Thailand users can now scan and pay at tens of millions of Weixin Pay QR code merchants in China through a partnership with TenPay Global. - The cross-border payment service will expand to Malaysia, Vietnam, and the Philippines in subsequent phases following the 20 August 2026 announcement. - This integration enhances the digital financial services of Monee, the arm of Sea Limited that operates ShopeePay.Alibaba Gives Nvidia's Older AI Chips an Unexpected Vote of Confidence
benzinga_article·- Alibaba Group Holding Ltd. reported during its fiscal first quarter earnings call that older Nvidia Corp. GPUs, including 2018 V100s and 2020 A100s, remain fully utilized across its AI infrastructure. - Chief Financial Officer Toby Xu stated that these AI assets continue to generate robust cash flows well past their three-year payback period. - This sustained utilization eases industry concerns that rapid technological advances will quickly render cutting-edge AI accelerators obsolete.Nvidia's Next AI Infrastructure Bet Is Scaling Fast
GuruFocus·- Nvidia has commenced mass production of its Spectrum-X co-packaged optics switches to address AI infrastructure networking bottlenecks. - GF Securities projects Nvidia's switch shipments to scale from 15,000 units in 2026 to 100,000 units in 2027, supported by TSMC capacity expansions. - This technological shift aims to reduce power consumption, enhance bandwidth, and extend Nvidia's market footprint into custom AI infrastructure.Lipen Yuan Purchases 1,000 Shares of Taiwan Semiconductor Manufacturing (NYSE:TSM) Stock
Market Beat·- Taiwan Semiconductor Manufacturing Vice President Lipen Yuan purchased 1,000 shares of the firm's stock for $74,500.00, increasing their position by 20.00% to a total of 6,000 shares. - The company maintains strong market performance with a market capitalization of $2.14 trillion, a price-to-earnings ratio of 29.77, and recent quarterly revenue reaching $39.89 billion. - Several financial institutions and analysts adjusted their target prices and ratings for the stock, with a consensus rating of Buy and a consensus target price of $524.25.Emerging markets stare at inflation risks as powerful El Niño looms
MSN·- Emerging economies are facing increased pressure from the ongoing Middle East conflict and a potential strong El Niño. - The U.S. National Oceanic and Atmospheric Administration projects an 81% likelihood of a severe El Niño from October to December. - This weather event could lead to rising food prices and hinder economic growth in these vulnerable regions.