Japanese Finance Minister reportedly held an emergency online meeting with U.S. Treasury Department officials
June 22 — Multiple Japanese media outlets including JNN and Kyodo News reported that, as the yen neared its lowest level in nearly 39 years, Japanese Finance Minister Kaori Kuroda held an online meeting with U.S. Treasury officials on the evening of June 22 local time.
Sources familiar with the talks say Kuroda likely exchanged views with U.S. Treasury Secretary Bennett, and their discussion covered foreign exchange market trends and the potential for foreign exchange intervention. Earlier, the USD/JPY currency pair saw a sharp decline during the trading session, which sparked market speculation that Japanese authorities had intervened to prop up the yen.
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AI company Upscale AI has completed a $190 million financing round, led by Premji Invest with participation from NVIDIA and others
June 22, AI infrastructure startup Upscale AI announced it has closed a $190 million new funding round, with investors including Nvidia and Salesforce Ventures, bringing the company’s valuation to $2 billion.
This round is part of Upscale AI’s Series A-1 financing, lifting the startup’s total funding raised to $500 million. Premji Invest led the deal, with participation from new investors such as Temasek and Seligman Ventures, plus follow-on investments from existing shareholders including Maverick Silicon, Mayfield, Prosperity7 Ventures, StepStone Group, and Tiger Global.
Upscale AI specializes in building network infrastructure for large-scale AI clusters, focusing on solving the “compute-communication bottleneck” in AI model training and inference. The firm is developing a full-stack AI network architecture spanning chips, systems, and software, with the goal of creating an open-standard network interconnect solution tailored for large-scale AI workloads.
The company noted that a
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Crude oil continues to decline, with WTI crude oil falling by 4.22% intraday and Brent crude falling by 3.91% intraday.
As of June 22, Bitget market data shows West Texas Intermediate (WTI) crude oil fell below $74 per barrel, posting an intraday decline of 4.22%, while Brent crude oil dropped below $77 per barrel, down 3.91% on the day.
Turning to key news developments: During ongoing constructive talks in Switzerland, Iran has committed to ensuring free and unobstructed passage through the Strait of Hormuz and granting International Atomic Energy Agency (IAEA) inspectors access to its territory. Under the terms of the framework agreement, the U.S. Department of the Treasury has issued a 60-day temporary general license authorizing the production, delivery, and sale of Iranian oil.
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Serenity Bullish on LPKF's Volume Surge Prospects, Long-Term Market Cap Expected to Reach $3 billion to $5 billion
June 22 — In a discussion focused on the semiconductor equipment and advanced packaging industry chain, Serenity stated that LPKF Laser & Electronics’ long-term valuation is projected to land between $3 billion and $5 billion. The firm is currently at a critical stage just before potential mass production, per Serenity.
Serenity highlighted that LPKF has robust customer penetration in glass substrate-related process equipment, holding roughly 70% of the target market share for specific technological pathways including glass core substrate and advanced packaging processes, making it a key equipment supplier in the industry ecosystem.
When evaluating the industry structure, the analysis framed LPKF alongside equipment manufacturers such as Aehr Test Systems and AIXTRON SE, categorizing these "smaller-scale, niche equipment players" as typically constrained by their total addressable market (TAM) size. It added that such firms are unlikely to grow their market capitalization beyond $20
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A whale long on SpaceX incurred a loss of nearly $1.2 million, with a liquidation price of $105.89.
Per LookOnChain monitoring, SpaceX’s stock price plummeted more than 10% on June 22. The decline resulted in a loss of nearly $1.2 million for a prominent whale trader. The whale took a 20x-leveraged short position on SpaceX stock at an entry price of $204.65, with the total position value reaching $5.51 million. This position was liquidated when SpaceX’s stock price fell to $105.89.
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