Pre-market News Summary: U.S. Treasury to Increase Long-Term Treasury Bond Repurchase Operation Size, SK Hynix Commits to Returning at Least 50% of Free Cash Flow to Shareholders, Megawatt Technology Reaches Custom Chip Agreement with Google

BlockBeats News, August 19th, a summary of key pre-market news in the U.S. stock market on Wednesday:

1. SK Hynix announced that it will use at least 50% of the free cash flow generated between 2025 and 2027 for shareholder returns. The company will repurchase 40 trillion Korean won (approximately $28.6 billion) of its own stock. This buyback is aimed at retiring shares to enhance shareholder returns. SK Hynix rose over 4% in pre-market trading.

2. Marvell Technology reached a custom chip agreement with Google and issued a warrant to Google, allowing Google to purchase up to 58.97 million shares of Marvell stock at a price of $206.58 per share, equivalent to about 6.7% of its outstanding shares. Most of this warrant will gradually vest as Google brings custom chip-related revenue to Marvell by the end of the 2033 fiscal year, involving products such as AI accelerators, networking, and storage. Marvell Technology (MRVL) surged 12% in pre-market trading.

3. The U.S. Treasury Department announced that it will at least double the size of its repurchase operations for long-term nominal coupon securities, covering the 10- to 20-year and 20- to 30-year maturity brackets. The current maximum size per operation is $20 billion, and this will be increased to at least $40 billion per operation in the future.

4. OpenAI reported $6.7 billion in revenue for the second quarter, representing only an 18% increase from the first quarter's $5.7 billion. However, operating losses during the same period expanded from $9.3 billion to $12.3 billion, with losses growing faster than revenue. Some investors were disappointed with this performance. In contrast, Anthropic's revenue reached $11.6 billion during the same period, more than doubling from the first quarter. This is also the first time Anthropic's quarterly revenue has surpassed OpenAI's. Anthropic also achieved a slightly adjusted operating profit, creating a more distinct contrast with OpenAI, which is still incurring significant losses.

5. According to Reuters, sources revealed that Samsung has raised chip manufacturing prices by 15% due to surging demand.

6. Billionaire investor and Omega Advisors CEO Leon Cooperman warned this week that the U.S. economy could slip into a recession in the coming year, dragging down the stock market. He pointed out similarities between the current market and the "Nifty Fifty" crash of the 1970s and expressed concerns about cooling enthusiasm for AI.

7. As of July 28, Changxin Technology has appeared in the list of top net-buying stocks by Korean investors in the previous week. However, as of July 27, Changxin Technology was not among the top 50 A-share stocks in terms of net buying by Korean investors (it is also possible that Korean investors had purchased, but Changxin Technology did not enter the top 50 A-share stocks by net buying amount). This indicates that by July 28 at the latest, which was the second day of Changxin Technology's listing, Korean investors had started buying.

8. The "First Stock of Humanoid Robot in A-share Market," Wondertree Technology, made its debut on the A-share market today, surging by 629.44%, with the stock price hitting RMB 1100 at one point. At this price, investors participating in the IPO would receive a return of approximately 7.3 times. With an allocation of 500 shares per lot valued at about RMB 550,000, deducting the subscription payment of RMB 75,000, the profit would be around RMB 475,000.

9. Cantor Fitzgerald plans to open its Kalshi prediction market to approximately 3,000 institutional clients, including family offices and hedge funds, allowing them to trade event contracts related to weather, commodities, and corporate performance. Susquehanna International Group will provide quotes and liquidity for these trades.

10. Chinese memory chip manufacturer Yangtze Memory Technologies Co., Ltd. (YMTC) has completed its listing counseling, further advancing its progress towards an A-share market debut. The China Securities Regulatory Commission website indicates that YMTC has completed pre-listing counseling and has been recognized to have the corporate governance structure, financial foundation, and internal control system required for a listed company.