Elroy Fernandes

Elroy Fernandes · Jul 27, 2026 · 9:59 AM

CXMT surges 500% on Shanghai debut but its $490 billion valuation outpaces what the company can actually build

China's CXMT surged roughly 500% on its Shanghai STAR Market debut on July 27, raising $8.6 billion in Asia's biggest IPO of 2026 and briefly hitting a $490 billion market cap. But the Hefei chipmaker still holds over 98% of its revenue in commodity DRAM, lacks EUV access, and has no competitive high-bandwidth memory at scale , the chip that actually powers AI.

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Elroy Fernandes · Jul 27, 2026 · 6:55 AM

CXMT raises $8.6 billion in Asia's biggest IPO of 2026 on the back of the AI memory boom

ChangXin Memory Technologies debuted on Shanghai's STAR Market on July 27, raising $8.6 billion in Asia's largest IPO of 2026. The Chinese DRAM maker, now the world's fourth-largest memory producer, is riding the same AI-driven chip shortage squeezing Micron and SK Hynix, even as US export controls and a Pentagon military-company designation try to cap its ambitions.

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Elroy Fernandes · Jul 27, 2026 · 1:37 AM

Washington threatens to sanction Chinese AI models but American startups are already switching sides

Treasury Secretary Scott Bessent threatened sanctions against Chinese AI labs including DeepSeek and Moonshot AI over alleged IP theft via distillation attacks. But with US companies now running nearly half their AI workloads on Chinese models thanks to price gaps as wide as 36x, Washington's leverage is more complicated than the announcement suggests.

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Elroy Fernandes · Jul 26, 2026 · 11:15 PM

A Florida pastor nearly died following ChatGPT health advice and now his lawsuit could rewrite AI liability law

Scott Winters, a former Florida pastor, is suing OpenAI and CEO Sam Altman after ChatGPT-4o allegedly told him to stay sedentary for months, dismissed his symptoms, and assigned him a diagnosis. He suffered a massive pulmonary embolism in July 2025. The lawsuit, filed July 22 in San Francisco, is the first to argue a general-use chatbot can be held to a medical standard of care, and it lands one day before ChatGPT Health went nationwide.

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Elroy Fernandes · Jul 26, 2026 · 8:42 PM

AI companies have signed enough nuclear deals to power 7 million homes and uranium stocks are surging

Every major AI company has now signed nuclear power deals in 2026, collectively committing to nearly 10 gigawatts of capacity. From Microsoft's $16 billion Three Mile Island restart to Meta's 6.6 gigawatt agreement with Vistra, TerraPower, and Oklo, the AI buildout has done what climate policy couldn't: made nuclear economically viable again. Uranium stocks are up roughly 40% year-to-date.

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Elroy Fernandes · Jul 26, 2026 · 2:37 PM

Binance fires employees who repeatedly fail its monthly fake phishing attacks

Binance runs monthly simulated phishing attacks on its own staff via an internal red team, with repeat failures affecting performance ratings and potentially leading to dismissal. The program, confirmed by CSO Jimmy Su, has run for three to four years and directly addresses the social engineering vector used in the $1.5 billion Bybit hack.

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Elroy Fernandes · Jul 26, 2026 · 11:57 AM

BitMart announces it is shutting down as BMX token crashes over 60% and withdrawal fears grip users

BitMart announced an orderly wind-down on July 26, 2026, sending its BMX token down more than 60% and leaving millions of users racing to withdraw funds. The closure follows BitMEX's shutdown announcement days earlier, and comes amid a sharp consolidation of mid-tier crypto exchanges as Binance and Bybit absorb the market.

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Elroy Fernandes · Jul 26, 2026 · 9:16 AM

MoonPay acquires Glide to fix crypto's most maddening deposit problem

MoonPay acquired Glide, a Y Combinator-backed crypto deposit routing startup founded by former Robinhood Wallet engineers, in an all-equity deal, its sixth acquisition of 2026. Glide's technology, which dynamically routes funds across 100-plus tokens and 30 blockchain networks to eliminate wrong-chain deposit errors, will be integrated into MoonPay Deposits. The deal marks another step in MoonPay's shift from a fiat onramp into a full-stack digital asset infrastructure provider competing with Co

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Elroy Fernandes · Jul 26, 2026 · 6:35 AM

Japan's industrial AI machine is running while Western investors are still looking at the scoreboard

Japan has quietly allocated ¥1.23 trillion for AI and physical robotics in fiscal 2026, while companies like Fanuc and Keyence are already posting record earnings from factory automation demand that Western investors haven't fully priced in yet.

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Elroy Fernandes · Jul 26, 2026 · 4:09 AM

Two-thirds of all venture capital is now flowing to AI startups and non-AI founders are feeling it

Global venture capital hit a record $297 billion in Q1 2026, with AI companies capturing roughly 81% of it. Four companies, OpenAI, Anthropic, xAI, and Waymo, absorbed nearly two-thirds of all funding. For non-AI founders, the fundraising market has quietly become a different game.

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Elroy Fernandes · Jul 26, 2026 · 1:43 AM

Trump's tariff threat against foreign chipmakers is making the AI memory shortage worse

The Trump administration's threat of 100% tariffs on foreign chipmakers is intensifying an already acute AI-driven memory shortage. SEMI has warned against government interference as AI data centers consume 70% of global memory output, starving automotive, medical, and telecom sectors, while founders face hardware costs that have more than doubled since late 2025.

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Elroy Fernandes · Jul 25, 2026 · 11:03 PM

More than 70 crypto projects have quietly shut down in 2026 and the funding wall is not done

RootData has tracked more than 70 crypto project shutdowns in the first half of 2026, with counts reaching 95 when inactive sites are included. The closures span DeFi protocols, NFT platforms, Layer-2 networks, and wallets, driven by 2021-22 venture funding that has hit zero runway without producing sustainable revenue.

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Elroy Fernandes · Jul 25, 2026 · 8:25 PM

Samsung raised foldable prices and launched AR glasses while Apple's folding iPhone is still months away

Samsung's Galaxy Unpacked on July 22 in London unveiled the Z Fold 8 Ultra at $2,099, a new wide-format Z Fold 8, the Z Flip 8, AR smart glasses with Gentle Monster and Warby Parker, and updated Galaxy Watches , all shipping August 7. The $100 price hikes across the foldable lineup test consumer appetite ahead of Apple's rumored foldable iPhone this fall.

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Elroy Fernandes · Jul 25, 2026 · 7:54 PM

How to Build an MVP Startup in 2026 Without Burning Your Seed Round

How to build an MVP startup in 2026 has changed dramatically with AI tools like Cursor and Lovable cutting build costs to under $10,000, but the mistake that kills most seed-stage companies hasn't changed at all. Founders still scope too wide, build too much, and run out of runway before learning anything useful. This guide covers scoping discipline, build-vs-buy decisions, realistic cost benchmarks, and the three mistakes that waste the most time and money.

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Elroy Fernandes · Jul 25, 2026 · 3:08 PM

Nvidia and SK Group seal a $500 billion AI factory and memory deal that rewrites South Korea's place in the global chip race

Nvidia and SK Group announced a $500 billion-plus partnership on July 24-25, 2026, covering a 2-gigawatt AI factory in South Korea built on Nvidia's DSX platform and a long-term SK Hynix memory co-development deal that secures Nvidia's HBM4 supply through its most competitive period yet. The deal dwarfs any prior sovereign AI infrastructure commitment outside the United States and formalises Nvidia's grip on advanced memory supply at a scale AMD and custom silicon rivals cannot easily match.

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Elroy Fernandes · Jul 25, 2026 · 12:04 PM

X removes 42,000 AI reply bot accounts and the warning to growth marketers is impossible to ignore

X's head of product Nikita Bier confirmed the removal of 42,000 accounts caught using chatbots to automate replies, part of a broader crackdown that has purged over 1.7 million bots since early 2026. The action directly targets AI-powered engagement tools used by startups and growth marketers, with X stating that AI engaging users without a human in the loop violates platform policy. LinkedIn is already moving in the same direction, signaling a broader industry shift against AI-generated engagem

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