U.S. AI application software stocks rallied, with Snowflake surging more than 21% following its earnings report.

According to HTX market data, Bitcoin has surged past $80,000, with a 3.5% gain in the last 24 hours.

Beating AI News Flash: The Institute for Foundation Models (IFM) under the UAE’s Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) has launched K2 Horizon, open-sourcing six models at once: 0.9B, 3.7B, 7B, 32B, 36B-A4B, and 375B-A23B. The 0.9B model is targeted at edge devices like smartwatches and glasses, while the 7B model can run on mobile phones. The largest 375B-A23B uses a Mixture of Experts (MoE) architecture, activating around 23 billion parameters per generated token. The institute stated that the 0.9B, 3.7B, and 7B models have set new benchmark records for their respective sizes. Beyond final model weights, training code, data or data construction recipes, intermediate checkpoints, training logs, and evaluation records are also made public. Some data is subject to license restrictions and cannot be redistributed directly, though its sources, construction methods, and ratios will be disclosed. The models and code are released under the Apache 2.0 license. Artificial Analysis scored the 375B-A23B an Intelligence Index of 47, close to MiniMax-M3’s 45. The model performs stronger on agent tasks but is relatively weaker in knowledge and complex reasoning.

According to the official website of the Shanghai Stock Exchange (SSE), the IPO review status of Yangtze Memory Technologies Co., Ltd. on the SSE STAR Market has been updated to "Under Inquiry". This status means Yangtze Memory has officially entered the SSE's listing review process, during which one or more rounds of written inquiries will be conducted on issues including the company's information disclosure and sci-tech innovation attributes. As China's largest 3D NAND flash memory manufacturer and the only domestic original 3D NAND manufacturer, Yangtze Memory independently developed the Xtacking (crystal stack) architecture, and is a memory IDM (Integrated Device Manufacturing) enterprise integrating chip design, manufacturing, packaging and testing.

According to BIT (bit.com) market data, crypto-related stocks on US equities extended their intraday gains: Strategy (MSTR) rose 10.4%, its perpetual preferred stock STRC is now trading at $97.33; Coinbase (COIN) gained 8.25%; Circle (CRCL) climbed 12.65%; BitMine Immersion (BMNR) increased 10.75%; SharpLink Gaming (SBET) rose 8.2%. Robinhood (HOOD) jumped 14.6%.

Per GMGN data, Solana ecosystem meme coin USELESS has rallied sharply, surging past a $190 million market cap. The token saw a 24-hour price increase of over 58% with a 24-hour trading volume of $20.6 million. On September 1, "Bonk Guy" stated his bullish outlook on USELESS is even stronger than when he traded BONK in 2023. He noted that USELESS previously rallied from a roughly $4 million market cap to $450 million outside a bull market, adding that if the coin experiences a genuine bull market for the first time in the future, it could post even larger gains. Following Bonk Guy's bullish call on September 1, USELESS jumped over 50% that day, pushing its market cap past $100 million. BlockBeats reminds users that most meme coins lack practical use cases, are highly volatile, and require caution when investing.

According to Defillama data, GMGN’s protocol revenue reached $2.46 million over the past 24 hours, surpassing Pump.fun’s $1.12 million and Hyperliquid’s $1.76 million.