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2026-10-13 · 8 high-impact headlines

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57

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  1. Musk Responds to Memory Chip Stock Selloff: Once China Masters Manufacturing Technology, Its Capacity Expansion Often Exceeds the Rest of the World CombinedBlockBeats news, October 13: In response to discussions about the sell-off in memory chip stocks, Musk stated that once China masters the manufacturing technology for a certain product, its ability to scale up production often exceeds the combined total of the rest of the world, as has already occurred in the lithium battery and solar energy sectors. He said the memory industry may be different, but about three years ago, memory was still a low-margin commodity. LP5 and LP6 follow common standards, and China appears to be rapidly mastering the relevant technologies. However, the next-generation HBM architecture, as well as technologies such as placing an SRAM layer beneath the logic circuit, three-dimensionally stacking memory on top, and simultaneously solving logic circuit heat dissipation, will be more difficult to overcome. Musk also said that SpaceX is a rare counterexample, with the total mass of payloads it sends into orbit about an order of magnitude higher than the combined total of the rest of the world. But excluding SpaceX, China already accounts for the majority of the total mass of payloads sent into orbit. According to previous reports, ChangXin Technology announced key progress in the development of the 4F² architecture for next-generation DRAM, and is expected to launch DDR5 RDIMM server memory products by the end of the year that integrate this architecture, hybrid bonding, and other technologies. Compared with the mainstream 6F² architecture, 4F² can theoretically reduce cell area by about one-third and increase storage density by about 50% under the same wafer area and process node, heightening market concerns about future competition and supply expansion.
  2. A certain whale/institution has cumulatively sold 837.8 BTC and rotated into buying 27,500 ETH.BlockBeats news, October 13th, according to on-chain analyst Ember's monitoring, as of now, a certain whale/institution has cumulatively sold 837.8 BTC and bought 27,500 ETH, worth approximately $69.68 million, with an average ETH purchase price of $2,534. The operation path is: transferring Bitcoin on-chain BTC withdrawn from HTX a year and a half ago into Hyperliquid , selling it for USDC; then withdrawing the USDC to Arbitrum, bridging it to Ethereum, and finally buying ETH on-chain.
  3. Memory chip stocks face continued sell-off, with factors such as Chinese competitors' technological breakthroughs and the end of buybacks intensifying concerns that the cycle has peaked.BlockBeats news, October 13 — The memory chip sector continued to face selling pressure. According to BIT (bit.com) market data, Micron closed down 3.88% on Monday, while SanDisk fell 5.97%, with both stocks declining in six of the past seven trading sessions. Micron has now fallen nearly 20% from its June high, nearing a technical bear market. In the South Korean market, SK Hynix plunged 9% today, while Samsung Electronics extended its decline to 7%. This round of correction was mainly driven by the withdrawal of buyback support and technological breakthroughs by Chinese competitors. Foreign investors net sold Korean stocks for a fifth consecutive trading session, with the tech sector seeing approximately $1.3 billion in net selling on a single day, of which SK Hynix and Samsung faced sell-offs of $782 million and $415 million, respectively. Meanwhile, the combined buyback program of Samsung and SK Hynix worth approximately 55 trillion Korean won, equivalent to about $40 billion, ended several weeks ahead of schedule, with Samsung's buyback actually terminating on October 6. After buyback support withdrew, the KOSPI has fallen over 10% cumulatively. Although retail investors stepped in against the trend, Goldman Sachs noted that their net buying scale is declining. On the competition front, ChangXin Technology announced key progress in developing the 4F² architecture for next-generation DRAM, and is expected to launch DDR5 RDIMM server memory products integrating this architecture and hybrid bonding technology by year-end. Compared to the mainstream 6F² architecture, 4F² can theoretically reduce cell area by about one-third and increase memory density by approximately 50% at the same wafer area and process node, heightening market concerns about future competition and supply expansion. Additionally, Broadcom's CEO's remarks that AI stock investing has gambling-like characteristics further exacerbated market concerns. Ha SeokKeun, Chief Investment Officer at Eugene Asset Management, said: "The market is uncertain whether this upcycle can persist through 2028 and beyond, which appears to be weighing on the valuations and share prices of Korean chipmakers." The memory industry's fundamentals remain strong recently, but investors have begun pricing in peak earnings risk in advance, worried that simultaneous production ramp-ups of Chinese memory capacity and new Korean fabs in 2027 to 2028 could reverse the supply-demand dynamics. Goldman Sachs' trading desk believes that peak earnings concerns are weighing on valuations, and there is currently a lack of sufficient catalysts to drive further re-rating.
  4. DeepSeek's second funding round aims to reach 100 billion yuan, CATL invests another 10 billion yuan, yet valuation remains unchanged.BlockBeats news, October 13 — Caijing, citing multiple trading sources, reported that DeepSeek is about to complete its second round of financing, with the fundraising scale increased from the previously planned RMB 50 billion to approximately RMB 100 billion, doubling in less than half a month. However, the pre-money valuation remains at approximately RMB 500 billion and has not been raised along with the expanded fundraising scale. Combined with the first round of over RMB 50 billion completed in June, if this round is successfully closed, DeepSeek's cumulative fundraising over half a year will reach approximately RMB 150 billion. New and existing shareholders in this round are each expected to account for about half of the proposed investment amount. Among them, CATL, after investing approximately RMB 5 billion in the first round, plans to invest another approximately RMB 10 billion in this round, while existing shareholders such as Tencent and IDG Capital also plan to continue increasing their stakes. New investors include Shixi Capital, SMIC Juyuan, CPE Yuanfeng, Legend Capital, and Geely, mainly from the semiconductor, automotive, and other industrial chains. DeepSeek has also been deepening industrial cooperation. In August, it spent RMB 141 million to participate in Unitree Robotics' IPO strategic placement, committing to a 36-month lock-up. Yesterday, Bloomberg reported that DeepSeek plans to lead a tens-of-millions-of-dollars seed round in robotics AI startup Winverse AI, with a post-money valuation of approximately $400 million. The company was founded by Hu Han, former head of embodied intelligence research at Tencent, and the deal has not yet been finalized. As the financing wraps up, DeepSeek is also accelerating preparations for a listing. Former Hillhouse Venture Capital partner Yan Wentao joined in late September as CFO. The sponsor securities firm is reviewing the background of investors and assisting in adjusting the fund shareholding structure to meet STAR Market listing requirements. According to reports, DeepSeek plans to file as soon as the end of this year and aims to list in 2027. It is worth noting that the doubling of the fundraising scale did not further push up the valuation. A person involved in the transaction believes this may be related to the stock price pullback of listed large-model companies such as Zhipu and MiniMax, as well as cooling investment enthusiasm in the primary market.
  5. South Korea's KOSPI index extended its decline to 6%, with SK Hynix plunging 9%.BlockBeats news, October 13, according to BIT (bit.com) market data, South Korea's KOSPI index expanded its decline to 6%, SK Hynix plunged 9%, and Samsung Electronics widened its decline to 7%.
  6. BlackRock turns overweight on short-term US Treasuries for the first time in six years, downgrades US equities.BlockBeats news, October 13 — BlackRock's investment research arm adjusted its U.S. asset allocation, upgrading short-term U.S. Treasuries to overweight, raising long-term U.S. Treasuries from underweight to neutral, ending nearly six years of underweight positioning on U.S. debt. At the same time, the institution downgraded U.S. equities from overweight to neutral, lowered the rating on U.S. agency mortgage-backed securities (MBS) to neutral, and reduced its underweight position on Japanese government bonds. BlackRock had been underweight U.S. Treasuries since October 2020, when the 10-year Treasury yield was near 0.9%, and it has now risen above 5.2%. The institution believes yields have risen to attractive levels, wants to lock in some of the higher yields, and that market expectations for further Federal Reserve monetary tightening may also be excessive. Currently, the interest rate swap market reflects that traders expect at least three 25-basis-point rate hikes over the next 12 months. BlackRock noted that U.S. Treasury yields would need to rise another 75 basis points over the next 12 months to fully offset the income earned from bonds. On U.S. equities, BlackRock attributed the downgrade to "potential volatility from the AI buildout." As the AI buildout drives increased capital expenditure and financing needs, higher rates make return disparities between companies more pronounced, and investors need to judge whether companies can generate returns above their cost of capital. The institution emphasized: "We are managing near-term risk, not changing our core beliefs." BlackRock remains bullish on AI-related companies and listed infrastructure, and is prepared to increase risk exposure again when visibility improves and attractive entry points emerge.
  7. Tom Lee: Sharp Decline in South Korean Stock Market May Spill Over into Crypto Market, Bringing Short-Term PainBlockBeats news, October 13: Tom Lee, Chairman of Ethereum treasury company BitMine, said that the sharp decline in the South Korean stock market may be transmitting to the crypto market. He mentioned forced margin liquidations on the brokerage side and noted that South Korean investors are a significant holder group of crypto assets. He described this impact as "short-term pain."
  8. Jiang Zhuoer: Bitcoin May Fall Below $80,000, Expected Support at $77,000 Unlikely to BreakBlockBeats news, October 13: Jiang Zhuoer, founder of LTC.top, stated in a post that he currently believes Bitcoin will most likely fail to hold $80,000, but will most likely not break below $77,000. $77,000 is both the Point of Control (POC) of the volume profile from the previous consolidation range and the POC since the rally that began on August 19, i.e., the price level with the highest volume in the corresponding range. He also believes the market will most likely not drop below $75,000, giving everyone a comfortable entry point.