US stocks close: Sandisk plummeted over 14%, halving from its peak; Micron and SK Hynix dropped around 9%.

Storage technology company Seagate Technology announced its fourth-quarter fiscal results, reporting revenue of $3.63 billion, which exceeded market expectations of $3.49 billion. Its adjusted earnings per share (EPS) reached $5.71, also beating the market forecast of $5.08. Seagate’s stock fell 8.53% during regular U.S. trading on Tuesday, and rose 5.44% in after-hours trading.

According to market data from BIT (bit.com), SpaceX rose more than 3% against the market trend, briefly approaching $118, and has now pulled back to near the $117 level, with its market capitalization rebounding to $1.54 trillion.

According to a WSJ report, the Trump administration is advancing a proposal that would exempt space companies from certain environmental review processes to speed up approval for commercial rocket launches. The report notes that as U.S. commercial space launch activity continues to grow, annual commercial launch numbers are projected to exceed 500 in the coming years, with the administration aiming to boost industry growth by streamlining regulatory procedures. The proposal is expected to benefit multiple commercial space firms including SpaceX, Rocket Lab, Blue Origin, and Stoke Space. If the policy is enacted, the approval timeline for future launch missions at these companies could be further shortened.

NVIDIA CEO Jensen Huang stated that open-weight AI models are critical to advancing the still-nascent AI industry. Following a meeting with U.S. lawmakers in Washington on Tuesday, Huang emphasized that open-weight models are essential to ensuring AI is deployed safely and reliably across the economy. In a brief comment to reporters, Huang said: “For U.S. industries, we need open weights to safeguard safety, and also to guarantee its safety and reliability. Additionally, this is vital for maintaining the vibrancy of the entire sector.” (Jinshi)

According to official announcements, AI voice company Fish Audio has closed a $52 million seed round, with investors undisclosed at this time. The firm also officially launched its next-generation voice generation model, S2.1 Pro. Fish Audio stated that S2.1 Pro can clone voices using just a 5-second audio sample, generates audio roughly twice as fast as Cartesia, and costs approximately one-sixth of ElevenLabs’ pricing. The model supports fine-grained control over word-level emotion, intonation, and speech rate, and is hailed as one of the most expressive voice models currently available. Multiple AI companies including HeyGen, LiveKit, Retell, Sanas, and OpenArt are already deploying Fish Audio’s models in production environments. The company offers a cost guarantee: if enterprises adopt its voice AI services and fail to reduce their costs by at least 50%, they will receive one full year of free Fish Audio services. To celebrate its first anniversary, Fish Audio also announced that it is granting users one month of free access to experience S2.1 Pro.

Ethereum's Layer 2 ecosystem total value locked (TVL) has dropped to around $5 billion, hitting its lowest level since 2023 and nearly erasing the capital accumulated during the L2 ecosystem's rapid growth in 2024. Data shows that the combined TVL of the three major networks—Optimism, Base, and Arbitrum—stands at around $4.8 billion, accounting for 96% of the entire L2 ecosystem. Reports note that the L2 ecosystem's cooling is occurring in tandem with broader challenges facing Ethereum as a whole. Since the start of this year, several senior executives at the Ethereum Foundation have stepped down, with personnel adjustments made. Meanwhile, traditional financial institutions, when exploring blockchain infrastructure, are increasingly turning to alternatives beyond Ethereum. For instance, the Depository Trust & Clearing Corporation (DTCC) is advancing Treasury tokenization based on a multi-chain environment, while JPMorgan Chase has expanded its JPM Coin to multiple public blockchains. However, stablecoins remain a key pillar of the Ethereum ecosystem; currently, USDC and USDT are still primarily settled via Ethereum and its L2 networks, allowing Ethereum to continue serving as a critical bridge for traditional finance to enter the crypto market.