Moonbeam will officially shut down on July 31, and Wormhole is reminding users to transfer their assets as soon as possible.

According to BIT (bit.com) market data, SK Hynix (SKHY.O) has released its financial results. Driven by tech giants’ increased investment in AI data centers, which has fueled strong demand for advanced storage chips, the company’s second-quarter operating profit surged 557% year-on-year to 60.5 trillion won (approximately $416.2 billion), hitting a new all-time high. The figure was 9.2 trillion won in the same period last year. However, the result fell short of market expectations of 64 trillion won, mainly because its high-end storage chips (HBM) account for a larger proportion than its peers, so it failed to fully capitalize on the current strong price rally for conventional storage chips, amplifying concerns that the AI boom driving the semiconductor industry may be slowing. SK Hynix’s revenue also missed forecasts: its Q2 revenue came in at 79 trillion won, versus market expectations of 84 trillion won. Following the earnings release, SK Hynix dropped 9% during regular trading on US stocks on Tuesday, and was down as much as 9% in after-hours trading; it is currently trading 2.74% lower at $126.55 in after-hours sessions.

Storage technology company Seagate Technology announced its fourth-quarter fiscal results, reporting revenue of $3.63 billion, which exceeded market expectations of $3.49 billion. Its adjusted earnings per share (EPS) reached $5.71, also beating the market forecast of $5.08. Seagate’s stock fell 8.53% during regular U.S. trading on Tuesday, and rose 5.44% in after-hours trading.

According to market data from BIT (bit.com), SpaceX rose more than 3% against the market trend, briefly approaching $118, and has now pulled back to near the $117 level, with its market capitalization rebounding to $1.54 trillion.

According to a WSJ report, the Trump administration is advancing a proposal that would exempt space companies from certain environmental review processes to speed up approval for commercial rocket launches. The report notes that as U.S. commercial space launch activity continues to grow, annual commercial launch numbers are projected to exceed 500 in the coming years, with the administration aiming to boost industry growth by streamlining regulatory procedures. The proposal is expected to benefit multiple commercial space firms including SpaceX, Rocket Lab, Blue Origin, and Stoke Space. If the policy is enacted, the approval timeline for future launch missions at these companies could be further shortened.

NVIDIA CEO Jensen Huang stated that open-weight AI models are critical to advancing the still-nascent AI industry. Following a meeting with U.S. lawmakers in Washington on Tuesday, Huang emphasized that open-weight models are essential to ensuring AI is deployed safely and reliably across the economy. In a brief comment to reporters, Huang said: “For U.S. industries, we need open weights to safeguard safety, and also to guarantee its safety and reliability. Additionally, this is vital for maintaining the vibrancy of the entire sector.” (Jinshi)

U.S. stocks closed on Tuesday: the Dow Jones Industrial Average initially rose 1%, the S&P 500 gained 0.2%, and the Nasdaq fell 0.2%. Storage-related concept stocks plunged again, with SK Hynix (SKHY.O) down 8.98%, Micron Technology (MU.O) falling 8.85%, and SanDisk (SNDK.O) dropping 14%. SanDisk’s share price is now more than 50% lower than the all-time high it hit a month ago.