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Industry

CXMT overtakes Intel in market cap on first day of listing; HBM is key bet to challenge Samsung, SK

China’s DRAM maker ChangXin Memory Technologies (CXMT) could raise its global DRAM market share to 18% by 2028, a forecast said. After listing, its shares surged 466% to close at 49 yuan, lifting its market value to 3.28 trillion yuan, larger than Intel’s. Nomura expects capacity expansion to drive share gains, but highlighted the absence of high-bandwidth memory (HBM) sales, technology gaps and potential constraints from export controls on advanced equipment and materials.

Industry

Memory outlook for second half comes into focus as Samsung, SK hynix set to report final Q2 results

The global memory market is focused on SK hynix on July 29 and Samsung Electronics on July 30 as they release final second-quarter results, expected to be record highs. Investors are watching the conference calls for second-half pricing and contract structure, including long-term supply agreements. Attention is also on whether profitability can hold as HBM shifts to HBM4, and on capital spending plans that could shape supply conditions.

Crypto

U.S. Senate CLARITY bill progress lifts Coinbase, Circle more than bitcoin

As discussion of the U.S. Senate’s CLARITY bill advances, markets have reacted more strongly in assets expected to benefit from clearer regulation, including Coinbase, Circle, Ethereum and Solana, than in bitcoin. A revised draft includes provisions on stablecoin rewards, SEC fundraising exemptions, DeFi classification, AML duties, allocation of regulatory authority and tokenisation. Analysts say bitcoin already has much of the institutional framework, while exchanges and stablecoins could be direct beneficiaries.