On August 12, according to CCTV, the US government announced on the 11th that it has rescinded an order banning the use of the short video social platform TikTok on federal government devices, citing that TikTok's US business restructuring no longer poses a national security threat. The White House Office of Management and Budget revoked the 2023 order in a memorandum issued on the 10th, which had prohibited TikTok's use on US federal government devices. Previously, the US Department of Justice issued a written opinion concluding that TikTok no longer falls under the regulated applications defined by relevant laws. Since the end of 2022, the US federal government and several states have banned the use of TikTok on government electronic devices citing so-called "data security" concerns.
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US Rescinds Federal Ban on TikTok Usage on Government Devices
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CoreWeave Soars Nearly 16% Pre-Market, Q2 Results Exceed Expectations
On August 12, AI cloud computing company CoreWeave saw its stock rise nearly 16% pre-market, reaching $104.5. The company reported Q2 operational revenue of $2.58 billion, surpassing analysts' expectations of $2.56 billion, and marking a 112% year-on-year increase. The net loss was reported at $626 million, better than the market estimate of a $757 million loss. Adjusted EBITDA was $1.51 billion, exceeding analysts' forecast of $1.43 billion. During the period, operational losses were $49 million, less than the market estimate of $87 million; the loss per share was $1.14, consistent with analysts' expectations, indicating significant pressure on the income statement. As of June 30, the company had a backlog of approximately $104 billion in order sales, up from $99.4 billion at the end of the previous quarter, with over $25 billion in procurement commitments for Q3. CEO Michael Intrator stated that the group has significantly exceeded its expected targets, with customer contracts signed in Q2 expected to contribute profit margins 5 to 10 percentage points higher than new contracts in recent quarters. This reflects the rapid growth in infrastructure demand as enterprises and AI companies continue to expand their computing power investments. CoreWeave anticipates Q3 sales between $3.45 billion and $3.6 billion, with full-year sales expected to range from $12.4 billion to $13.2 billion. Q3 capital expenditures are estimated to be between $11.5 billion and $13.5 billion, with full-year capital expenditures raised to between $35 billion and $39 billion, up from the previous forecast of $31 billion to $35 billion. -
Lumentum Soars Over 7% in Pre-Market Trading After Strong Earnings and Guidance
On August 12, optical communications stock Lumentum (LITE.US) surged over 7% in pre-market trading, reaching $882.99. Lumentum reported its fourth fiscal quarter results for the period ending June 27, 2026, with net revenue more than doubling year-over-year to $1.01 billion, exceeding market expectations of approximately $990 million and significantly higher than the $480.7 million reported in the same period last year. Adjusted earnings per share (EPS) on a non-GAAP basis skyrocketed 267% year-over-year to $3.23, surpassing the expected $2.97. The adjusted gross margin was 50.4%, compared to the anticipated 48.8%. The company forecasts first-quarter revenue between $1.23 billion and $1.28 billion, while the market estimate stands at $1.16 billion. Adjusted EPS is expected to be between $4.05 and $4.35, exceeding the market expectation of $3.61. The non-GAAP operating margin is projected to be between 39.5% and 40.5%. This indicates that the company is not only accelerating its revenue growth but also moving towards a profit margin near 40%. -
Binanceb Stocks Announces Important News Expected Tomorrow
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Prediction Market Platform Kalshi Seeks $40 Billion Valuation Financing
On August 12, technology media The Information reported, citing informed sources, that prediction market platform Kalshi is seeking to raise funds at a valuation of $40 billion, an 82% increase from its $22 billion valuation during the Series F financing in May. According to sources, benefiting from the World Cup events, Kalshi's annualized revenue surpassed $4 billion in July, doubling from approximately $2 billion two months earlier. The company's operating expenses in June reached $300 million, primarily related to marketing and promotion. -
Goldman Sachs: Software Stocks Start to Realize AI Benefits
Peter Callahan, a TMT trading expert at Goldman Sachs, pointed out that the narrative around AI within the software sector is changing following this earnings season. Previously, the market was more concerned that generative AI would weaken the competitive advantages of traditional software companies. However, the fields of data infrastructure and development tools have begun to shift from 'AI headwinds' to 'AI tailwinds,' with companies like Cloudflare, Palantir, Datadog, Twilio, and Atlassian gaining more attention. In contrast, it remains to be seen whether traditional SaaS application companies can establish a similarly clear logic for benefiting from AI. The underlying change is that the commercialization of AI is starting to extend from model training to inference, agents, and automation applications. Cloudflare disclosed that non-human traffic has surpassed human traffic and expects that if current trends continue, machine-generated web requests will grow rapidly. This means that AI may not only be a substitute for software companies: for platforms that handle data, APIs, web traffic, security, and development tools, an increase in the number of agents and call frequency may itself become a new source of demand. As a result, there is a clear divergence in the software industry: whether AI is beneficial increasingly depends on whether a company is at the application layer or the infrastructure layer, and whether it can directly monetize the growth in AI traffic. (Jin Shi) -
Tencent, ZhenFund, Sequoia China, and Others Buy Back Manus Shares from Meta for $2 Billion
Sources close to Manus revealed that Tencent, ZhenFund, Sequoia China, and other former major shareholders of Manus have bought back shares from Meta for $2 billion. This transaction price is close to the acquisition price announced by the American social media technology giant Meta in December 2025. Benchmark was the largest shareholder before the acquisition but will not participate in this buyback of Manus. Benchmark's previous shares will be acquired by Tencent, which will become the largest shareholder of Manus. Currently, Manus is operating normally. According to previous reports, Manus is set to resume independent operations, and some users need to complete data backups by August 23. -
Strategy CEO: Company to Continue Adding More Bitcoin This Year
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BTC Falls Below $64,000
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Nvidia reportedly developing trillion-parameter open-source AI model Nemotron 4
On August 11, Nvidia is developing a new generation of open-source artificial intelligence model, Nemotron 4, with an expected parameter scale of at least 1 trillion, aiming to compete with the world's leading open-source large models. Nvidia hopes to expand the application scope of AI through an open model ecosystem and further drive market demand for its GPU computing power. Nvidia has previously launched the Nemotron series of open-source models, including the Nemotron-4 340B series with 340 billion parameters, primarily used for large language model training data generation, model development, and enterprise AI applications. -
Crypto-Friendly Bank Erebor Seeks $1.5B Funding with a16z Participation
On August 11, Erebor Bank, a crypto-friendly bank co-founded by Oculus and Anduril founder Palmer Luckey and Palantir co-founder Joe Lonsdale, is seeking $1.5 billion in funding, with a pre-money valuation target of $8 billion. This valuation is nearly double the $435 million valuation the company had when it completed a $350 million funding round in December 2025. Erebor has already received support from investment institutions such as 8VC and Haun Ventures, and the new funding round is expected to attract participation from Lux Capital, Andreessen Horowitz (a16z), Human Capital, Valor Equity Partners, and SV Angel, among others. As AI infrastructure investment enters a phase of rapid expansion, Erebor is targeting the financing needs of AI companies. AI companies require substantial capital to purchase GPUs, build data centers, and secure energy supplies, while traditional financial institutions are gradually exploring financing models for AI infrastructure assets. However, whether Erebor can maintain rapid growth after the AI and crypto industry cycles cool down remains a key focus for the market. The funding round has not yet been finalized and is expected to be completed within the coming weeks.
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