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The AI and intelligent driving track continues to be active, with Gate NVIDIA (NVDAX) and Tesla (TSLAX) contracts performing first in the world

With the growing demand for AI computing power and the continuous development of the intelligent driving industry, technology leaders such as Nvidia and Tesla continue to attract market attention. According to Gate market data, Nvidia (NVDAX) is currently priced at $205.86; Tesla (TSLAX) is currently priced at $392.22. CoinGlass data shows that the NVDAX contract position on the Gate platform has reached $3.35 million, with a 24-hour trading volume of $4.13 million, both ranking first in the world; the TSLAX contract position on the Gate platform has reached $3.87 million, with a 24-hour trading volume of $2.91 million, also ranking first in the world. Relevant data indicates that AI computing power and intelligent driving-related assets remain an important focus for market funds.In addition, the new public course section of Gate Live will launch its first stock series on June 10 at 16:00 (UTC+8) titled "How to Participate in the US Stock Market with USDT." This public course will share insights on Gate's stock products, coverage of stocks and ETF assets, and core highlights of the products. Leveraging Gate's unified account system, users can achieve one-stop management and allocation of digital assets and global securities assets on the same platform, further enhancing cross-market investment efficiency.

Goldman Sachs and Morgan Stanley compete for the lead underwriting position in OpenAI and Anthropic's IPO, with potential earnings exceeding $7 billion

According to Fortune, Goldman Sachs and Morgan Stanley are competing for the lead underwriter position for the future IPOs of OpenAI and Anthropic. Previously, Goldman Sachs secured the lead underwriter role for the SpaceX IPO, which is expected to take place on June 12. Both OpenAI and Anthropic's IPOs are expected to raise at least $60 billion, totaling over $120 billion.Jay Ritter, an IPO expert from the University of Florida, stated that the investment bank that secures the lead underwriter position will determine how much IPO stock allocation each fund receives, thus potentially earning far more than other underwriters. Ritter noted that institutional investors often pay a significant amount of "soft dollars" to lead underwriters to secure more IPO allocations, which refers to the portion of trading commissions that exceeds the actual execution costs.If it is still uncertain whether Goldman Sachs or Morgan Stanley will secure the lead underwriter position for OpenAI and Anthropic, funds may simultaneously direct more trading commissions to both investment banks to increase their chances of receiving allocations. For example, in the case of the SpaceX IPO, if the fundraising scale reaches $86 billion, the underwriting fee would be approximately $600 million. However, if the stock price rises by 20% on the first day, the paper gains for IPO investors would exceed $17 billion, and Ritter estimates that at least 30% of that could flow back to the investment bank in the form of soft dollars, about $5 billion, far exceeding the underwriting fee itself.If both OpenAI and Anthropic see a 20% increase on their first day of trading, the paper gains for investors would reach $24 billion. Based on the same ratio, investment banks could potentially receive over $7 billion in soft dollars, most of which would flow to the lead underwriter. Currently, both OpenAI and Anthropic have secretly submitted draft registration statements, but the listing dates have not yet been determined.

Tom Lee: The sell-off of chip stocks is mainly related to the reallocation of funds before the SpaceX IPO, and the current pullback will have buying support

Tom Lee, Chairman of BitMine, the largest treasury in Ethereum, stated in an interview with CNBC that the current market is showing signs of tension, mainly due to the reallocation of funds ahead of the SpaceX IPO and the market digesting previous gains. The SpaceX IPO is expected to reach $75 billion and will be included in the Nasdaq 100 index, which means many institutional funds need to raise capital in advance, not only to participate in the IPO but also to reserve cash for establishing sufficient weighted positions in the secondary market after the listing. He believes this means institutions may sell some stocks that have recently risen significantly, putting pressure on chip stocks.Tom Lee believes that storage chip stocks and the semiconductor sector have still held their lows from last Friday, indicating that the relevant charts have not completely broken down. The current pullback is healthy and he does not believe it will disrupt the main trading line of tech stocks. The trading performance on the first day of SpaceX's listing is very important. If SpaceX performs poorly, it will provide evidence for those who believe the market has peaked. However, he stated that since many people already think the SpaceX IPO marks a peak, from a contrarian perspective, this may not be the peak.Tom Lee still believes that tech stocks will continue to lead the market upward and stated that the current pullback will be bought. He expects the market to still show a "three-phase" trend this year, with a strong upward trend continuing in the foreseeable future, but a pullback may occur later this year, potentially around the time the IPO lock-up period expires and related supply pressures arise. The subsequent second phase market pullback may be driven by three factors: the market's testing of the policy path of the new Federal Reserve Chairman Kevin Warsh, stock supply from the expiration of large IPO lock-up periods, and potential energy shortage pressures that may arise later this year.

The State Duma of Russia has passed the cryptocurrency tax reform bill in the first reading

The State Duma of Russia has passed a cryptocurrency tax reform bill submitted by the government in the first reading, aiming to further clarify the tax rules related to digital assets. According to the draft, the taxable base for cryptocurrency transactions will be calculated based on the positive difference between income and costs, allowing investors to offset gains and losses from digital currencies and foreign digital rights assets within the same tax period.The bill also requires brokers and trust management institutions to fulfill the obligation of withholding and paying personal income tax in cryptocurrency and foreign digital rights transactions, and to retain relevant transaction vouchers for at least five years. At the corporate level, except for cryptocurrency mining, income and expenditure related to foreign trade involving digital assets will be included in the corporate income tax base, and foreign digital rights assets will also be treated as cryptocurrency for tax purposes.In addition, the Budget and Tax Committee of the State Duma of Russia has suggested further amendments to the bill in the second reading, requiring licensed cryptocurrency exchange platforms to assume tax agency functions, directly withholding personal income tax when users buy and sell cryptocurrencies. If the final legislation is passed, Russia's regulatory system for digital asset taxation will be further improved.
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