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Crypto

Digital Asset raises additional $10 million from Shinhan Financial, SC Ventures

Digital Asset, developer of the Canton blockchain, has raised an additional $10 million from South Korea’s Shinhan Financial Group and Standard Chartered’s SC Ventures. TheBlock reported the investment increased the company’s ongoing funding round to $365 million from $355 million, at the same $2 billion valuation as the previous round. Digital Asset last month announced a $355 million fundraising led by a16z crypto with participation from major institutions.

AI & Enterprise

IBM shares plunge as AI investment boom triggers record drop

IBM shares tumbled on July 14, posting their biggest one-day fall as the company warned that weak second-quarter results reflected a shift in corporate IT budgets toward AI infrastructure and cybersecurity. IBM said sales of its mainframes and related software were under pressure as customers increased spending on memory chips, servers and storage ahead of price rises. IBM reported second-quarter revenue of $17.2 billion, up 1 percent year on year, below expectations, while infrastructure revenue fell 7 percent.

AI & Enterprise

Asia tech stocks rally on U.S.-Iran war-end deal, SoftBank jumps 12 percent

Asian technology shares rose on June 15 after reports that Iran and the United States reached an agreement to end conflict in the Middle East. Investors saw easing regional tensions as a signal to increase appetite for risk assets, focusing buying on semiconductor and artificial intelligence-related stocks. SoftBank Group climbed more than 12 percent intraday. Semiconductor names in Japan, South Korea and Taiwan also advanced.