Hi there, this is your daily ☕️ Finpresso.
In today's newsletter:
🛍️ Shein targets $27B in Hong Kong IPO
🚸 TikTok pays $400M in child privacy case
📉 Alibaba stock drops 10% on $10.2B raise
💰 Nvidia hikes AI server prices over 15%
Plus: 🌍 11 macro news, 🏢 10 corporate news, and 📑 6 research & reports.
| 🛍️ Shein targets $27B in Hong Kong IPO LINK |
- Shein is seeking to raise up to HK$13.86 billion (about $1.77 billion) in its Hong Kong IPO, pricing shares to value the fast-fashion retailer at close to $27 billion at the top of the range.
- The company is selling roughly 280 million class B shares priced between HK$47.60 and HK$49.50, with a final price set for Aug. 31 and trading due to begin Sep. 1.
- The $27 billion target marks a steep markdown from the $64 billion valuation Shein carried in 2023 and April 2024, and well below the $98.2 billion reached in a 2022 fundraising round.
| 🚸 TikTok pays $400M in child privacy case LINK |
- TikTok and parent ByteDance will pay $400 million to settle US Justice Department claims they violated children's online privacy law, ending the case without further litigation or any admission of wrongdoing.
- The DOJ, which first sued in 2024 over accusations TikTok let children open standard accounts and unlawfully collected their data, called the payout one of the largest ever recoveries under the children's privacy statute.
- As part of the deal, TikTok added stronger youth safeguards, better age controls, and more parental oversight, and the article frames the costly settlement as cheaper than prolonged litigation and a second Trump-era reprieve for the app.
| 📉 Alibaba stock drops 10% on $10.2B raise LINK |
- Alibaba's Hong Kong-listed shares fell as much as 10% on Monday after the company priced a $10.20 billion sale of new stock to non-US investors, diluting existing shareholders.
- Alibaba is issuing 710 million shares at HK$112.70 each, below Friday's close of HK$123, with all proceeds earmarked for AI infrastructure; the placement is expected to close Wednesday.
- The raise follows Alibaba's 75% profit drop in the June quarter, when capital spending jumped 75% to 67.7 billion yuan as heavy AI investment ate into results.
| 💰 Nvidia hikes AI server prices over 15% LINK |
- Nvidia has told major customers that servers built around its AI chips will cost more than 15% extra on systems shipping early next year, driven largely by soaring prices for memory chips.
- The increases hit systems using Nvidia's flagship Vera Rubin and Grace Blackwell chips and vary by chip generation and memory setup, showing even a company with 75% gross margins can't absorb rising memory costs.
- The pricing power now sits with memory makers Samsung, SK Hynix and Micron, who dominate DRAM output and can't meet AI demand, complicating data-center build-outs by Microsoft, Google, Amazon and Meta ahead of Nvidia's earnings next week.
🌍 Macro News
- Oil fell as traders awaited details on new US Iran sanctions. LINK
- Gold hit a three-month high as weak dollar boosted demand. LINK
- Singapore's July inflation rose to 2.2%, near two-year high. LINK
- Bank of Japan signals policy intentions ahead of September rate hike. LINK
- China's material curbs are stalling Taiwan's tech and aerospace production. LINK
- Crypto card spending tripled to $1.04 billion in July. LINK
- Global banks join pilot testing quantum-resistant crypto wallet technology. LINK
- US clean energy spending on pace for record $180 billion in 2026. LINK
- Global diesel shortage set to persist for months despite war's end. LINK
- Pakistan opens crypto licensing portal with September 5 application deadline. LINK
- Canada to impose retaliatory tariffs after trade talks with US collapse. LINK
🏢 Corporate News
- Apple cuts over 200 jobs across Vision Pro and Siri teams. LINK
- Dutch regulators fine Uber 825 million euros over automated driver bans. LINK
- OpenAI cuts GPT-5.6 Sol prices over 20% amid rising competition. LINK
- Anthropic hires Google chip veteran to build its own semiconductors. LINK
- Tesla recalls nearly 3 million China-made EVs over door handle risks. LINK
- Walmart rolls out contactless tap-to-pay across US stores by 2026. LINK
- Apollo confirms hackers stole personal data from its cloud systems. LINK
- Nvidia to pay $6 billion to license Poolside's AI software. LINK
- Hugging Face explores sale that could value it at $13 billion. LINK
- Nvidia takes minority stake in data center infrastructure firm Cloverleaf. LINK
📈 Stocks
| ▲ Biggest winners |
| Futu Holdings rose 10% after reporting second-quarter 2026 revenue of $918.2 million, beating consensus by nearly 17%. LINK |
| MP Materials rose 9% after Pentagon pricing guarantees yielded $17.6 million in Q2. LINK |
| Tempus AI rose 9% after BTIG raised its price target to $80 from $70. LINK |
| ▼ Biggest losers |
| Marvell Technology fell 6% after Google warrant dilution overtook the deal rally. LINK |
| IES Holdings fell 50% after the 2-for-1 stock split became effective. LINK |
| DBA Sempra fell 5% after Morgan Stanley lowered its price target to $104. LINK |
📑 Research & Reports
- Return expectations, not demographics, best predict crypto ownership, study finds. LINK
- AI could become net growth driver for India's IT sector by FY30. LINK
- New York overtakes Bay Area as top US tech worker hub. LINK
- AI's role in crypto crime jumped 40% over the past year. LINK
- China's real gold buying far exceeds official central bank figures. LINK
- NAND flash price growth set to slow sharply this quarter. LINK