Nikkei 225 index gains widened to 3%

Independent semiconductor and AI research firm SemiAnalysis reports that the rapid growth in AI computing power demand is transforming power supply models for data centers. Reciprocating engines, historically used primarily as backup power during grid outages, are being repositioned as baseload power sources operating around the clock. This year, reciprocating engine manufacturers have signed contracts for roughly 1GW of behind-the-meter (BTM) power projects, with annual new supply volumes projected to exceed 4GW in 2027 and 2028. After modeling U.S. grid capacity, SemiAnalysis notes that existing power reserves are expected to be exhausted between 2027 and 2028, and planned additions to utility-scale power generation capacity through 2030 remain insufficient to meet the new load demand from data centers. Combining its data center model, SemiAnalysis estimates that roughly 140GW of potential data center projects have not yet finalized power supply contracts, and many of these will likely adopt behind-the-meter power models to bypass grid expansion bottlenecks. Among behind-the-meter power technologies including reciprocating engines, aeroderivative gas turbines, and fuel cells, SemiAnalysis projects reciprocating engines will capture the largest market share. The firm cites their combination of low cost, rapid deployment, modular scalability, and stronger financing capabilities as key advantages, while equipment manufacturers including Caterpillar, INNIO, and Cummins are expanding production capacity to support large-scale deployments in the coming years. As AI data centers continue to expand, on-site self-generated power is evolving from a traditional backup resource to critical energy infrastructure, and reciprocating engines are poised to become a key solution for bridging power gaps in the computing power era.

According to Bloomberg, Venezuela’s largest fintech company Cashea has raised a total of $100 million across two financing rounds. Global investors are betting on the firm’s ability to achieve growth in a market long plagued by credit constraints. Cashea announced it closed a $60 million Series B round in June, led by FinSight Ventures, with participation from Endeavor Catalyst, Plug and Play, U.S. university funds including Washington University in St. Louis, and Latin American investors. Earlier, Cashea completed a $40 million Series A round in March, led by Spice Expeditions. The round included $20 million in equity financing and $20 million in debt financing provided by Architect Capital.

Per Bitget's market data, WTI crude oil's intraday gain has widened to 3%, now trading at $85.40 per barrel. Brent crude oil climbed 2.16% to $89.4 per barrel.

Ionic Digital expects its shares to begin trading on the Nasdaq Global Select Market on July 28, after the U.S. Securities and Exchange Commission (SEC) declared its registration statement effective, clearing the final major regulatory hurdle for the company’s long-planned listing. According to a company statement, Ionic’s stock ticker will be “IOND”. The firm opted for a direct listing rather than a traditional initial public offering (IPO), meaning it will not issue new shares nor receive any proceeds from the transaction; instead, existing registered shareholders will be able to sell their holdings on the public market. Ionic was originally formed to take over Bitcoin mining assets from the Celsius estate, before pivoting to position itself as a broader digital infrastructure company serving artificial intelligence (AI) and high-performance computing (HPC) workloads. The company first submitted its Form S-1 registration statement earlier this month. Ahead of the listing, Ionic has raised roughly $400 million to support data center construction and fuel its business shift from Bitcoin mining to a wider digital infrastructure focus.

According to market data from BIT (bit.com), at the opening of US stock markets, the Dow Jones Industrial Average rose 0.29%, the S&P 500 increased 0.6%, and the Nasdaq gained 1.04%. US storage sector stocks rose broadly: SanDisk (SNDK.O) and Western Digital (WDC.O) climbed around 9%, while SK Hynix (SKHY.O), Micron Technology (MU.O), and Seagate Technology (STX.O) gained approximately 7%.

According to market data from BIT (bit.com), the Philadelphia Semiconductor Index opened up 4.8%.