BlockBeats news: On August 6, here is a summary of key market news ahead of U.S. stock market opening:
1. Alphabet, Google's parent company, is preparing to issue a new round of U.S. corporate bonds, aiming to raise up to $25 billion. The bonds may be divided into up to 10 tranches with maturities ranging from 2 to 40 years; the final size has not yet been determined.
2. Today, up to 911.5 million shares of SpaceX will become eligible for trading, representing over 140% of the current outstanding shares, potentially increasing short-term price volatility. By the end of this year, more than 4 billion shares are expected to become tradable, potentially exerting sustained downward pressure on the stock price, although the market continues to focus on the company’s long-term fundamentals.
3. Yushu Technology has set its IPO offering price at RMB 150.8 per share, with an estimated profit of nearly RMB 176,000 per lot. Subscription opens on August 10. DeepSeek, Tencent, and others have secured strategic allocations in Yushu Technology’s IPO.
4. ByteDance is discussing training a model with over 5 trillion parameters, surpassing Alibaba’s Qwen3.8-Max (2.4 trillion parameters) and Moonshot’s K3 (2.8 trillion parameters), making it the largest model by parameter count currently known in China. Generally, the larger the model size, the higher the level of intelligence it tends to achieve.
5. SoftBank Group successfully secured a $10 billion margin loan backed by its shares in OpenAI.
6. Pre-market trading in U.S. stocks saw broad declines across semiconductor, optical communication, and storage sectors, with the storage segment leading the losses: Western Digital (WDC) fell 15.51%, SanDisk (SNDK) dropped 11.06%, SK Hynix (SKHY) declined 7.22%, Seagate Technology (STX) slid 5.96%, and Micron Technology fell 5.26%.
7. This morning, South Korea’s Deputy Prime Minister and Minister of Economy and Finance, Choi Sang-mok, stated that under external risk shocks, only the stock market suffered a severe decline, creating a rare situation unlike previous ones; however, the government and central bank possess sufficient policy tools to respond to market volatility caused by external shocks. Yet, the market did not respond positively to Choi’s remarks on stabilizing the market. At today’s close, South Korea’s KOSPI index fell 302.82 points, or 4.59%. Major stocks SK Hynix dropped 10.3%, and Samsung Electronics fell 6.3%.
8. Last month, Zhang Yiming, founder of ByteDance, clearly stated at a full-team meeting of the Seed team that the company will not treat distillation as a shortcut to catch up with large models, even if it means temporarily falling behind domestic competitors. He asked the team to be willing to sacrifice short-term gains for the sake of long-term goals.
9. According to the Financial Times, informed sources said that if upcoming inflation data over the next few weeks comes in strong and market expectations for higher borrowing costs rise accordingly, Wash is prepared to raise interest rates at the September meeting.
10. Initial jobless claims for the week ending August 1 totaled 199,000, compared to expectations of 202,000 and a revised prior value of 198,000.