Bitget has launched the U-based OL perpetual contract, with a leverage range of 1-20 times

CoreWeave plunged 15% in a single day, triggering market volatility. Citi analyst Tyler Radke pointed out that high borrowing costs are severely impacting Neocloud companies that rely on debt financing. In contrast, Microsoft demonstrates notable resilience during the AI funding tightening cycle thanks to its strong free cash flow and debt-free advantage.

Due to increased market concerns over AI-related financing and potential large-scale acquisitions, SoftBank Group's credit risk indicator—the credit default swap (CDS)—has risen to its highest level in nearly four years.

Morgan Stanley stated that Microsoft's stock price has recently rebounded, so the tech giant will face a "higher hurdle" if it wants to maintain its upward momentum.

OpenAI is racing against time—in order to secure funding ahead of rival Anthropic’s IPO, the company has significantly compressed its fundraising timeline, aiming to complete approximately $30 billion in private financing, which could push its valuation past $1.4 trillion upon completion. Major investors such as SoftBank and MGX are already engaged in discussions. Both AI giants are targeting trillion-dollar valuations, and their largely overlapping investor bases are being forced to make simultaneous bets on both ventures within just a few days.