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BlockBeats News, July 7th, according to Bloomberg, AI chip manufacturer Syntiant, backed by Intel and Microsoft, has filed for an IPO. The company produces ultra-low-power AI chips and software for on-device AI in headphones, wearables, and industrial systems. According to its submitted documents, the company's Q1 performance is as follows: Revenue: $64.5 million (compared to $66.6 million in the same period last year), Net Loss of $26.2 million (compared to $16.8 million in the same period last year) It is reported that Syntiant has raised a total of $311 million to date and is valued at $6.464 billion after its funding round in December 2024.

Glonghui July 7｜Two years ago during the “924 Market Event”, star hedge fund manager David Tepper, who rose to fame by boldly advocating “buy everything Chinese,” has once again achieved impressive returns this year in the storage sector. According to the latest news on Monday, Tepper’s Appaloosa Management achieved a 32% investment return in the first half of this year. According to people familiar with the matter, the roughly $23 billion hedge fund earned all its profits in the second quarter this year. As a backdrop to this investment performance, Tepper adopted a relatively conservative strategy this year, with his cash holdings averaging as high as 40%. It is reported that the best-performing individual stocks in Appaloosa’s portfolio include Micron Technology, Samsung Electronics, SK Hynix, Kioxia Holdings, and SanDisk.

Golden Ten Data reported on July 7 that South Korean battery manufacturer LG Energy Solution (LGES) stated on Tuesday that its operating profit for April to June is expected to drop by 77% to 113 billion won (approximately $73.91 million), as continued weak demand for electric vehicles continues to weigh on battery sales. Market forecast for profit was 249 billion won. According to documents LGES submitted to regulators, revenue is expected to increase by 24.8% year-on-year to 7.6 trillion won. LGES said that the quarterly profit guidance includes tax credits for battery production in the United States under the U.S. Inflation Reduction Act. Excluding these tax credits, the company would have posted an operating loss of 128 billion won.