$SOXL Positioning is moderate; it keeps oscillating back and forth, giving you room to make mistakes. China’s AI “killing power” in the global landscape is also very strong. Watch Hong Kong stocks for ZHIPU and Minimax (China’s AI large model No. 1 stock) rebound, then do buy-sell swings again and again!

This round’s semiconductor “great slaughter” four nuclear bombs
1. Kimi K3 = the second DeepSeek moment
2.8 hundred million? parameters? — 2.8 trillion parameters, single-task cost $0.94, 48 hours to autonomously design a chip. After open-sourcing on 7/27, the ceiling for AI compute demand is directly shattered. Market doubts: is it worth spending a few thousand billion to buy GPUs?

2. Storage cycle peaks out
SK hynix chairman said directly, “Storage prices are too high; they need to be lowered”—when industry capital itself is preparing for a downturn cycle, it means the “peak” signal is already clear. Memory prices have jumped 4x, smartphone shipments hit a 13-year low, and demand is about to collapse.

3. Korea is the global epicenter
Samsung + Hynix account for 70% of global DRAM, 50%+ of HBM
KOSPI has fallen 26% from its high; a technical bear market
1.2 million retail accounts are forced into margin calls, 360k accounts are forcibly liquidated, and some are upside down to brokers
On the day of the plunge, the Bank of Korea raised rates—adding fuel to the fire
The US is also pressing for “sharing excess profits”—making it worse

4. Iran–Israel conflict → oil prices surge → inflation → rate-hike expectations → all-in on risk assets
Why Korea is the core

Transmission chain: Korea’s semiconductor plunge → US stock storage follows down → Philadelphia Semiconductor enters a bear market → global tech stocks sell off → BTC under pressure

Korea isn’t a supporting actor; it’s the canary in the coal mine for global tech stocks. Samsung and Hynix aren’t just falling—if they can’t stabilize, global tech stocks can’t stabilize either.

Impact on your BTC short
Tailwind for shorts: semiconductor deleveraging usually lasts 6-8 weeks; we’re only in week 3 so far, and risk appetite is still on the bearish side.
But don’t get too optimistic: BTC has strong support at $61,800, and last week ETFs were still in net inflows (BlackRock 204 million). If Korea rescues the market or the Fed turns dovish, BTC may rebound first.

The core bet: when Samsung and Hynix stop the downtrend. If they stop falling → global rebound → BTC rebound. If they keep plunging → everything isn’t over yet. #中软国际携手月之暗面布局AgenticAI