Markets

Elon Musk has launched the “America Party” to challenge the US two-party system. This move follows his public break with Donald Trump, driven by disagreements over the “Big Beautiful Bill,” particularly its impact on EV subsidies and the national debt. Musk’s new party aims for Congressional seats in upcoming mid-term elections, facing significant hurdles in gaining ballot access and electoral viability. The venture risks retaliation against Tesla, with declining sales already a concern.

Tencent Music Entertainment (TME) briefly surpassed Baidu in market capitalization, highlighting a market re-evaluation. Investors favor TME’s proven “copyright-to-subscribers-to-revenue” model over Baidu’s AI investments, which await clearer commercial returns. This shift signals changing internet traffic dynamics and investment logic, with TME evolving into a dedicated content provider.

Faraday Future (FF) announced its Global Initial Launch of FX Super One, Super EAI F.A.C.E., and FF EAI Embodied AI Agent on July 17th. The company also expanded its B2B sales to Nevada with a 100-unit agreement and is launching B2C pre-orders soon. FF was added to the Russell 3000 Index. A private reception will be held in Washington D.C. to discuss industry topics. FF is preparing for a flawless launch.

Infineon Technologies has successfully developed scalable Gallium Nitride (GaN) production on 12-inch wafers, a significant advancement over the current 200mm standard. This technology offers higher power density and efficiency, promising broader applications. The company will begin delivering samples in Q4 2025. Notably, TSMC is exiting the GaN wafer foundry market, leaving Infineon as a key player.

An 18-year-old Australian man, Sonny Brendel, tragically died after a celebratory backflip went wrong. The incident occurred at a party marking his move into a new home. Despite initially feeling only dizzy, he later developed severe brain hemorrhages and stroke symptoms. Brendel passed away several days later, leaving his family devastated. They are now fundraising to repatriate his body for burial.

Patterson-UTI Energy, Inc. (NASDAQ: PTEN) will release its second-quarter 2025 financial results on Thursday, July 24, 2025, at 9:00 a.m. CT. The company will host a conference call and webcast to discuss its performance and outlook in the energy sector. Dial-in details and a webcast link are available on the company’s investor website.

A CCTV investigation reveals a thriving black market where “internet mercenaries” exploit account suspension threats for profit. Platforms like “Ju Xin” offer services for manipulating online engagement and orchestrating false accusations to get accounts banned, even targeting popular Chinese social media. This illicit trade has fueled organized “account banning guilds,” exploiting vulnerabilities for financial gain.

Apogee Therapeutics will announce pivotal 16-week data from its Phase 2 APEX trial for APG777, a novel inflation drug. The data, expected on July 7, 2025, could reveal differentiated efficacy and new dosing regimens for conditions like atopic dermatitis, asthma, and COPD. The company will host a conference call to discuss the findings.

EveryLife is partnering with CityServe and Convoy of Hope to provide diapers and wipes to Texas families impacted by devastating floods. Through its “Buy For a Cause” initiative, EveryLife is channeling all purchased bundles to affected families. A $50 donation provides a month’s supply of essential baby care items. This effort builds on EveryLife’s history of disaster relief.

At Peking University’s 2025 commencement, YMTC Chief Scientist Huo Zongliang urged graduates to pursue foundational research and independent innovation. Reflecting on YMTC’s success in advancing China’s 3D NAND flash memory technology from its beginnings to a leading position, Huo highlighted the importance of perseverance and overcoming challenges. YMTC has achieved significant milestones, including developing China’s first 3D NAND flash memory and introducing proprietary architectures like Xtacking®, demonstrating a commitment to pushing storage technology boundaries.