US Stock Futures Dive Further

Crypto journalist Eleanor Terrett reported that while the White House has begun engaging on the counter-proposal to the bipartisan ethics agreement introduced by Tillis and Gallego, crypto policy stakeholders are currently in what an industry source describes as a "strange state of limbo." Terrett cited sources saying some of the president’s closest allies have been pushing behind the scenes this week to broker a deal on the ethics agreement. Meanwhile, negotiations on other unresolved issues remain ongoing. The White House is leading discussions related to the Blockchain Regulatory Certainty Act (BRCA), aiming to sway law enforcement agencies that still hold reservations to shift their stance.

According to a report from The Information, fintech company Stripe is in exclusive acquisition negotiations with AI model aggregation platform OpenRouter, with the transaction valued at approximately $10 billion. People familiar with the matter disclosed that OpenRouter had previously received acquisition interest from multiple large tech firms, though Stripe has now advanced to the exclusive negotiation stage. The deal has not been finalized, and specific terms remain subject to change. Founded in 2023, OpenRouter operates as an AI infrastructure platform connecting users to various large language models, enabling developers to access AI models from providers including OpenAI, Anthropic, and Google via a unified interface, with the ability to select different models based on performance, price, and availability. If completed, the transaction will represent one of Stripe’s key strategic moves in the AI sector in recent years. Stripe has historically focused primarily on payment infrastructure, financial services, and enterprise software, and acquiring OpenRouter could further accelerate its expansion into the AI developer infrastructure space.

Leading investment management firm Roundhill announced in a statement that the Roundhill Photonics & Optical ETF (ticker: LYTE) has begun trading. As AI data centers replace copper connections with faster, more efficient optical links, optical interconnection has become a key bottleneck in AI infrastructure development. The AI optical module market alone is projected to grow 57% this year, expanding from $16.5 billion to $26 billion. LYTE primarily invests in leading global companies in the photonics and optics sectors, offering investors concentrated exposure to the industry. According to market data from BIT (bit.com), LYTE is up over 3% and currently trades at $25.73. Its key holdings include Lumentum Holdings Inc (LITE) at 15.42%, Coherent Corp (COHR) at 15.23%, and Chinese A-share firms Xin Yusheng, Zhongji Innolight, and SkyLight Communication, with weights of 14.59%, 14.22%, and 7.9% respectively. Roundhill focuses on launching innovative, thematic ETFs; its well-known products include MAGS, which tracks the "Magnificent Seven" tech stocks, and DRAM, which tracks global memory chip-related companies.

Elon Musk posted that he roughly estimates around 25% of TeraFab’s AI computing power output will be allocated to Tesla Optimus, while approximately 75% will go toward AI spacecraft. Earlier reports noted Tesla announced its Terafab plan would launch in Texas, with the goal of achieving over 1 terawatt of annual computing power.

Google parent company Alphabet’s massive bond offering has attracted around $115 billion in subscription demand. Earlier reports noted that Alphabet is preparing to issue a new round of US corporate bonds, targeting a maximum raise of $25 billion. The bonds are structured into up to 10 tranches with maturities ranging from 2 to 40 years, and the final offering size remains undecided. The proceeds will be used to fund Google’s continued expansion of AI infrastructure.

Iranian media Fars News reported that Iran’s parliament is reviewing a draft bill aimed at strengthening control over transit rules in the Strait of Hormuz and Persian Gulf. Key proposals include: banning vessels linked to the U.S., Israel and other hostile countries from transiting; restricting the transport of civilian and military goods related to Israel; limiting ship traffic related to operations against the "Axis of Resistance"; and denying navigation access to entities that owe compensation payments to Iran. Violations will be subject to fines of up to 20% of the value of the goods. The bill is still under review and has not yet been approved. (Jinshi)