Core Insights - Companies backed by venture capital (VC) are opting for mergers and acquisitions (M&A) instead of initial public offerings (IPOs) due to uncertainties in the U.S. public markets, trade policies, and economic conditions [1][3] - The report indicates that the total number of exits in Q2 remained stable compared to Q1, with most exits coming from M&A and acquisitions [1] - The first half of the year saw only 27 VC-backed companies go public, marking the lowest number in at least a decade [3] Industry Trends - Analysts suggest that the recent uptick in IPO activity appears to be a reset rather than a full recovery, with significant trends expected in sectors like artificial intelligence, national security, defense, and cryptocurrency through 2025 [3] - Companies in these sectors, such as Circle Internet Group, CoreWeave, and Voyager Technologies, have performed well since their IPOs [3] - The number of private equity (PE) backed IPOs in Europe and the U.S. dropped dramatically from 116 in 2021 to just 9, prompting PE firms to reconsider their exit strategies [3] Market Conditions - The decline in IPOs is attributed to higher interest rates and market volatility, making it more challenging for companies to go public or sell at acceptable prices [4] - Due to the ongoing IPO drought, venture capitalists are increasingly turning to the secondary market for trading private company stocks, which has seen significant growth in recent years [4]

Group 1: Copper Market Dynamics - Protests by small-scale mining operators in Peru have disrupted copper transportation, leading to a significant impact on the supply chain [1] - Copper prices have increased by 2.7% this week and nearly 14% since the beginning of the year, approaching historical highs due to rising demand from sectors like AI and renewable energy [1] - UBS has raised its copper price forecasts for 2025 and 2026 by 7% and 4% respectively, citing a recovery in demand driven by traditional markets in Europe and the US [2] Group 2: Supply and Demand Factors - Citic Securities notes that the copper market remains in a tight balance, with limited CAPEX and declining TC/RC fees, while economic stability in China and a soft landing in the US support copper prices [3] - UBS's optimistic outlook on copper prices is supported by favorable supply dynamics and long-term demand drivers, despite potential slowdowns in end-user demand due to tariff uncertainties [2] - Citic Securities predicts copper prices could rise to $10,000-$11,000 per ton in the second half of the year, contingent on macroeconomic policies and global economic recovery [3] Group 3: Key Companies in the Copper Sector - Notable copper resource companies listed in Hong Kong include Luoyang Molybdenum (03993), Zijin Mining (02899), Minmetals Resources (01208), and Jiangxi Copper (00358) [4]

瑞银表示，仍然看好全球股市、国防和黄金，预计到2025年底金价将达到每盎司3,500美元。 ...

瑞银：建议逢低买入，预计市场仅会出现温和回调。瑞银仍然看好全球股市、国防和黄金，预计到2025 年底金价将达到每盎司3,500美元。 ...

Group 1 - The core point of the article is the agreement between South Korean President Lee Jae-myung and Australian Prime Minister Albanese to enhance cooperation in defense, critical minerals, and supply chain sectors [1] Group 2 - The collaboration aims to strengthen national security and economic resilience through joint efforts in defense [1] - The focus on critical minerals indicates a strategic move to secure essential resources for technology and energy sectors [1] - Supply chain cooperation is expected to address vulnerabilities and enhance stability in trade relations between the two countries [1]

白宫新闻秘书莱维特：预计国防话题将在G7峰会上出现。 ...

如果您希望可以时常见面，欢迎标星收藏哦~ 来源：本文来自 allaboutcircuits ，谢谢。 124层印刷电路板在不增加7.6毫米标准板厚的情况下，突破了长期存在的108层的行业上限。 OKI Circuit Technology 推出了一款124 层印刷电路板 (PCB)，这是高密度电子封装领域的一项 里程碑式进展，这是迄今为止已知的半导体测试应用的最高商用堆叠高度。这一进步突破了长期 以来 108 层的上限，并可能标志着人工智能、国防、航空航天和先进通信技术领域基板设计的新 纪元。 124层PCB的横截面 PCB分层的新高峰？ 从纸面上看，从108层到124层的跃升可能微不足道，但在追求精密的PCB制造领域，这标志着 PCB制造能力的根本性转变。信号层数增加15%的同时，并没有增加标准的7.6毫米板厚，而这是 晶圆级测试设备现有尺寸限制的限制。 这绝非易事。由于树脂流动、导通孔塌陷以及层间对准等挑战，传统 PCB 设计在达到 100 层之 前就已达到机械和热性能的极限。迄今为止，可靠地超过 108 层通常意味着必须接受更厚的电路 板或降低可靠性——而 OKI 有效地避免了这些妥协。 高复杂性自然带 ...