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ZuriQ completes $25.5 million seed round to advance development of its novel quantum chip architecture.

1 hours ago

ETH Zurich spin-off startup ZuriQ has announced the completion of a $25.5 million seed round. The company is dedicated to developing a novel quantum chip architecture, which is claimed to offer stronger scalability than existing solutions, and is expected to accelerate the large-scale development of the quantum computing sector.

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Spot gold has recorded an intraday decline of 1%.

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The intraday decline of Nasdaq 100 Index futures widened to 1.1%.

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Lei Jun’s unrealized profit of 700 million yuan from Changxin Technology’s IPO subscription sparks widespread discussion; Xiaomi responds: The company’s investments cannot be conflated with personal wealth.

Changxin Technology surged 465.82% on its first day of trading, drawing widespread market attention. Among related topics, "Lei Jun’s new share subscription in Changxin Technology generated 700 million yuan in floating profit" topped Weibo’s trending searches. According to Changxin Technology’s previously disclosed strategic placement list, Wuhan Yiba Yiling Enterprise Management Co., Ltd. was allocated 18.2448 million shares of Changxin Technology. At the issue price of 8.66 yuan per share, the company’s allocated capital amounted to approximately 158 million yuan; based on Changxin Technology’s closing price on its first trading day, the floating profit stood at around 736 million yuan. Public information shows that Wuhan Yiba Yiling Enterprise Management Co., Ltd. is a wholly-owned subsidiary of Xiaomi Technology, whose chairman is Lei Jun, leading the market to link the investment to Lei Jun. In response, Xu Jieyun, special assistant to Xiaomi Group’s chairman and deputy general manager of the Strategic Marketing Department, stated on July 28: "Friends, just take this as a fun anecdote, don’t take it seriously. Actually, it can’t be calculated that way. This is a corporate investment activity, and the specific subsidiary entity and personal wealth cannot be conflated. Also, I’d like to extend my best wishes to Changxin again."

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Institutions: Pressure on the Federal Reserve to raise interest rates is growing, while inflation levels remain significantly above the target.

Senior economist Anthony Willis of Tianli Investment said in a report that as U.S. inflation remains significantly above its target, and the economy and labor market stay resilient, pressure on Federal Reserve policymakers to tighten policy has risen. Willis stated, "However, until the impact of inflation becomes clearer, policymakers may be willing to temporarily overlook the recent surge in oil prices." Still, the broader trend is evident: Under the leadership of Fed Chair Powell, the Federal Reserve is taking a more hawkish stance. Markets are currently pricing in a 38% probability of a Fed rate hike this Wednesday, and have fully priced in the likelihood of a September rate hike. (Jinshi Data)

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Spot silver's intraday decline has widened to 2.41%.

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Hong Kong storage concept stocks extended their decline in the afternoon.

According to Bitget market data, Southern 2x Long SK Hynix (07709.HK) has fallen by over 28%, while Southern 2x Long Samsung Electronics (07747.HK) has dropped by more than 25%.

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