Odaily News – "White-Haired Stock God" Serenity has publicly questioned Sivers Photonics' (SIVE) growth strategy, arguing that the company remains overly focused on the Swedish market, while U.S. investors may be more interested in its future growth potential and the tangible economic value of its order book.

Serenity noted that U.S. analysts are more likely to focus on what Sivers' two recent wafer fab capacity allocations actually mean, and how much revenue and operating leverage these capacities will translate into amid supply bottlenecks and rising ASPs (average selling prices). Additionally, topics such as NPO/CPO, pluggable optical modules, the 2028 volume ramp of CPO players like Ayar, the ELS product partnership with O-Net, the scale of six newly added pluggable customers, and the potential TAM (total addressable market) are all worth deeper discussion.

In contrast, questions from the local market tend to center on "how to stop the bleeding," why private clients cannot be disclosed, why the company focuses on transceivers, and what the "business opportunity pipeline" really means—forcing management to spend significant time responding to doubts rather than discussing future growth.

Serenity believes that the more time Sivers devotes to the Swedish market, the more its valuation will be constrained by the investment logic of that market. Therefore, the company needs to more actively present its future growth opportunities and the economic value behind them to U.S. investors.

Odaily News: Jiang Zhuoer posted on X platform, stating that Bitcoin ETFs turned to net outflows on Friday, ending a streak of nine consecutive days of inflows. On the news front, Federal Reserve Chairman Waller signaled a hawkish stance, and Bitcoin will face its first test since the rally began. Jiang Zhuoer also confirmed that he sold 50% of his ETH spot position during Friday's decline.

Odaily News, according to Hyperbot data, Machi Brother Huang Licheng's 10x leveraged long positions in HYPE and PUMP are all showing floating losses, currently at $93,000 and $447,000 respectively. His positions are temporarily supported by BTC and ETH long positions, which are showing floating profits of $824,000 and $27,000 respectively. The overall floating profit has now decreased to $337,000, with a return on investment of 5.8%.

Odaily News: SoftBank Group is seeking an additional $10 billion loan to refinance debt related to its investment in OpenAI and raise further capital. According to sources familiar with the matter, the two-year loan carries an interest rate approximately 275 basis points above the Secured Overnight Financing Rate (SOFR), with Mizuho Bank serving as the lead arranger and bookrunner. The sources requested anonymity as the matter has not yet been made public. (Bloomberg)

Odaily News Federal Reserve Chairman Warsh is set to deliver one of the most closely watched public speeches since taking office at the Jackson Hole Global Central Bank Symposium. With the U.S. PCE inflation rate still at 3.7%, notably above the Fed's 2% longer-term target, and Treasury yields remaining elevated, the market still lacks a clear picture of when and under what conditions the Fed will further adjust monetary policy. Warsh has long sought to reduce forward guidance and let the market interpret the data on its own, but what Wall Street most wants to know now is precisely his "reaction function." If this speech continues to focus only on long-term issues such as productivity and demographics, the bond market may interpret the silence itself as a policy signal.

Currently, the market estimates about a one-third probability of a Fed rate hike in September. As Warsh has deliberately downplayed traditional forward guidance since taking office, the focus of this speech will center on how he assesses inflation, and what changes in inflation, employment, and economic growth would prompt rate hikes, rate cuts, or maintaining rates unchanged. Market participants believe that if Warsh signals a clearer hawkish stance, it could further push up short-term rates and Treasury yields; if he avoids the current policy path and focuses more on long-term topics like productivity and AI, it may be interpreted by the market as a dovish signal.

In addition, AI's impact on inflation could also be a focal point of this speech. Warsh has long been bullish on AI boosting productivity and helping lower long-term inflation, but the market believes the current AI investment boom is also driving up costs for construction labor and computer chips. This Jackson Hole speech could become a key moment for reshaping September policy expectations and global bond market pricing. (The Street)