Core Insights - SuRo Capital Corp. reported a significant increase in net asset value (NAV) per share, reaching $9.18 as of June 30, 2025, up from $6.66 per share at the end of March 2025 and $6.94 per share a year earlier, marking a growth of over 35% [2][3][24] - The growth in NAV was primarily driven by investments in AI-focused companies, with notable contributions from CoreWeave's IPO and OpenAI's record $40 billion capital raise, which underscored the demand for AI platforms [3][4] - The company declared an initial cash dividend of $0.25 per share, reflecting successful monetizations of its public securities and indicating a positive outlook for further distributions throughout the year [4][11] Financial Performance - As of June 30, 2025, SuRo Capital's total net assets were approximately $219.4 million, with liquid assets around $52.4 million [2][9] - The company reported a net investment loss of $3.7 million for the second quarter, but realized gains on investments amounted to $21.2 million, contributing to a net increase in net assets from operations of $62.3 million [9][21] - The total investment portfolio had a fair value of approximately $243.8 million, with the top five investments accounting for about 53% of the total portfolio [5][6] Investment Activity - During the second quarter, SuRo Capital invested $5 million in Plaid, a fintech platform, and exited investments in CoreWeave and ServiceTitan, realizing gains of $15.3 million and $5.9 million respectively [7][8] - The company held positions in 36 portfolio companies, with 33 being privately held and 3 publicly held, indicating a diversified investment strategy [5][18] Market Context - The strong performance of SuRo Capital is reflective of broader market trends favoring AI infrastructure companies, which have gained significant attention and investment in recent years [3][4] - The company's strategy focuses on identifying and investing in high-growth, category-defining companies, particularly in the technology and fintech sectors [4][18]

Core Insights - VCI Global Limited will present its Sovereign Data Infrastructure at the ASEAN AI Summit 2025, highlighting its role in enabling sovereign-ready digital ecosystems [1][5] - Jane Teh, Chief AI Security Officer, will discuss the importance of quantum-resistant infrastructure for national data resilience during her keynote address [2][3] Company Overview - VCI Global is a cross-sector platform builder that integrates deep technology with financial architecture, focusing on sovereign digital ecosystems [12][13] - The company has evolved from capital markets consultancy to operate in fintech, AI, robotics, and cybersecurity [12][13] Sovereign Data Infrastructure - The Sovereign Data Infrastructure comprises a comprehensive ecosystem of hardware and software solutions developed through subsidiaries V Gallant and QuantGold [4] - It aims to empower governments with encrypted computer-secure mobile layers and national-scale AI ecosystems [3][4] Key Technologies - QuantGold is a sovereign-grade encrypted data platform that enables secure and compliant data monetization, leveraging over 120 encryption patents [7][8] - Technologies include SecureGPU for encrypted AI compute servers, CyberSecure for hardware-based encryption storage, and Qsecore for secure mobile communication [9] Market Focus - The initial market focus for QuantGold includes Malaysia, Singapore, and Hong Kong, with applications in healthcare, financial services, public sector analytics, and AI research [8] Event Participation - VCI Global's participation in the ASEAN AI Summit underscores its leadership in sovereign AI infrastructure and provides a platform for engagement with ASEAN governments [6]

25 July 2025 Equity Research Report China Equity Strategy Equity Strategy FAQs on 2Q25 fund positions Q1: How are institutional investors positioned in the AI value chain? In 2Q25, domestic and northbound funds increased allocations to AI infrastructure names by 2.4ppts and 0.7ppts, respectively, but both reduced their exposure to AI enablers and AI adopters. At a stock level, domestic mutual funds bought optical module suppliers, while northbound funds were more constructive on semiconductor names. Q2: Wha ...

Core Insights - VCI Global Limited has launched SecureGPU™, a next-generation encrypted AI compute server aimed at sovereign, defense, and regulated enterprise use, marking a significant advancement in zero-trust AI infrastructure [1][2][3] Industry Overview - The sovereign AI infrastructure market is projected to reach approximately US$1.5 trillion globally, with strong demand anticipated in Europe and Asia-Pacific [4] - Global AI infrastructure spending is expected to grow to approximately US$197.6 billion by 2030, driven by on-premises and secure deployment models [4] Company Strategy - SecureGPU™ is integrated with V-Gallant's Vault orchestration platform and QuantGold encrypted data exchange, positioning the company to generate recurring revenue from a comprehensive stack of sovereign compute, encrypted storage, and AI lifecycle services [5][6] - The product is currently in pilot deployment with government and institutional partners in Malaysia, Singapore, and select international markets, serving as a cornerstone of VCI Global's sovereign AI stack [6][7] Technical Features - SecureGPU™ features real-time PCIe-level encryption, zero-trust compute architecture, and support for large language models and regulated data use cases, ensuring secure training and deployment of AI models [8] - The server is built on NVIDIA®-class GPU architecture, providing enterprise-grade AI performance with full data locality, auditability, and compliance control [5][8]

Group 1 - Recent developments surrounding Core Scientific, Inc. (NASDAQ: CORZ) indicate a potentially interesting long-term investment opportunity [1] - The analysis includes a thorough examination of fundamentals, options flow, and dark pool data [1] - The author emphasizes a data-driven approach combined with practical market understanding to identify trends and actionable ideas [1] Group 2 - The author has a background in economics, which aids in understanding global markets and macroeconomic trends [1] - There is a focus on interpreting unusual options activity and leveraging dark pool data to uncover hidden market movements [1] - The goal of sharing research is to connect with like-minded investors and enhance their investment journey [1]

Group 1 - The core viewpoint of the news is that Jiliu Technology has completed nearly 100 million yuan in A+ round financing, which will be used for core technology and product development, market expansion, and team building [1] - Jiliu Technology positions itself as a "full-stack autonomous AI computing power builder," focusing on building a high-performance intelligent computing system that covers both hardware and software, distinguishing itself from other players in the AI infrastructure space [1][2] - The company has achieved significant growth since its establishment in 2023, transitioning from hundreds to thousands and then to tens of thousands of GPU clusters, and has successfully implemented multiple long-distance training clusters [2] Group 2 - Jiliu Technology has delivered a total of 23 clusters, utilizing over 66,000 GPUs, more than 4,000 switches, and over 320,000 optical modules, serving major clients including leading AI companies and local state-owned enterprises [3] - The rapid development of AI large models has increased the demand for high-performance computing power, and Jiliu Technology is one of the few teams in China capable of building large-scale clusters with over a thousand units [3] - The CEO of Jiliu Technology emphasized that the demand for computing power in AI differs significantly from traditional internet services, indicating a need for redesigned network architecture and highlighting the long-term growth potential in the AI infrastructure market [3]

Group 1: Core Insights - The event held by DataCanvas in Shanghai showcased the company's latest achievements in AI computing power accessibility, providing practical solutions for the high-quality development of the AI industry [1][2] - Shanghai is actively implementing the national "East Data West Computing" strategy, introducing new industrial policies to support the development of the intelligent computing industry, aiming for a transformation towards self-controllable and green efficiency by 2025 [3][4] - DataCanvas has launched its new product "New Start" at the event, which focuses on commercializing intelligent agent technology and aims to create a comprehensive solution for enterprise-level intelligent agents [4][5] Group 2: Technological Innovations - DataCanvas's Alaya NeW Cloud has successfully overcome performance bottlenecks, achieving "second-level generation of millions of tokens," aimed at providing intelligent computing infrastructure services for global AI innovation enterprises [4][6] - The company has introduced a unique "1-degree computing power" measurement standard to standardize the supply and elastic scheduling of computing resources [4][6] Group 3: Market Strategy and Applications - DataCanvas has tailored computing power and channel policies for the Shanghai market, establishing a service system that supports flexible scheduling from single cards to clusters, addressing the differentiated computing power needs of key sectors like finance and healthcare [6][7] - The collaboration with various industries has demonstrated significant results, such as the partnership with Wuxi Yinlv Shandong AI Technology Co., which has transformed music creation through AI technology, producing millions of works with minimal sample learning [7][8] Group 4: Industry Impact - The establishment and development of DataCanvas in Shanghai not only accelerates the local intelligent computing industry but also provides valuable experience for the national intelligent computing industry construction [7] - The distributed computing network built by Alaya NeW Cloud aims to optimize computing resources across regions, making AI computing power a widely accessible social resource, thus supporting the high-quality development of China's digital economy [7][8]

Analyst's Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or a ...

Nebius Group NV NBIS might be the most underappreciated player in AI infrastructure today. At a $12 billion market cap, it's trading like a mid-cap growth story.Billions In Plain Sight — Still IgnoredBut a closer look by Ng Investing on X revealed the company is sitting on $3.7 to $5.7 billion worth of subsidiaries — hidden in plain sight, yet not fully priced in by the market.Take ClickHouse: Nebius owns 28% of the open-source database firm, last valued at $6 billion. That alone is worth $1.68 billion. Add ...

Core Viewpoint - Jiliu Technology has completed nearly 100 million yuan in A+ round financing, focusing on self-developed RoCE networking to reduce costs by 40% and serving major clients like Zhipu AI [2][3] Group 1: Company Overview - Jiliu Technology, established in February 2023, originates from Tsinghua University's cybersecurity laboratory, led by founder Hu Xiaohé, who has over ten years of research experience in high-performance networks and distributed systems [2] - The core team consists of members from top universities and leading companies such as Alibaba, Baidu, and ZTE [2] Group 2: Product and Technology - Jiliu Technology positions itself as a full-stack autonomous AI computing builder, focusing on solving distributed computing communication challenges for large-scale computing clusters [2][3] - The company has developed its high-performance open-source intelligent computing system, Galaxy HPAC, which includes three core products: Mercury-X (AI network), Venus-AICloud (AI platform), and Venus-AIDOC (computing maintenance platform) [3] - The self-developed MS6426 national chip 25.6T high-speed open-source AI switch has passed a 72-hour stability test for large-scale deployment [3] Group 3: Market Position and Demand - Jiliu Technology has delivered 23 clusters, utilizing over 66,000 GPUs, 4,000 switches, and more than 320,000 optical modules, successfully implementing long-distance training and inference clusters [4] - The demand for computing power is rapidly increasing, with the ratio of training to inference computing power demand expected to shift from 7:3 in 2023 to 3:7 by 2025 [4] - The company is actively participating in computing power projects in regions like Xinjiang and Ningxia, aligning with national strategies [4]