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09-25 21:45

Bullish $sndk $dram

Dell Executive: "Agentic AI" Is Different This Time, Shortages of Key Components (Mainly Memory and HDDs) Could Last More Than 5 Years

07-28

But stocks were tumbled

Memory Giants Inking $700 Billion in Deals, Bernstein Says Pullbacks Are a Buying Opportunity

05-30

$Synopsys(SNPS)$ Time to buy the dip

02-17

Whyyy?

24H | US Stock Futures Drop With Nasdaq Futures Down 0.8%; Big Tech Stocks Fall With Palantir, AMD, Alphabet, Broadcom Down over 1%

02-04

$Marvell Technology(MRVL)$ one of the best at the moment

01-17

$Marvell Technology(MRVL)$

2025-12-20

$Marvell Technology(MRVL)$ most undervalued AI. Time to explode

2025-11-04

$Energy Fuels(UUUU)$ Bullish after so much sell off eand earnings revenue beat

2025-10-17

$Energy Fuels(UUUU)$ why it's falling like anything compared to MP even though it's just due to overall market sentiment

2025-10-17

Isn't good? Can someone explain the stock market impact

US Budget Deficit Falls $41 Billion to $1.775 Trillion in Fiscal 2025 As Tariffs, Debt Payments Both Saw New Records

2025-10-09

$Westwater Resources Inc(WWR)$ 🐂

2025-10-07

$GitLab, Inc.(GTLB)$

2025-09-18

$Rezolve AI(RZLV)$ Great one

2025-09-17

$Adobe(ADBE)$ Great one

2025-09-12

$Adobe(ADBE)$ great earnings

2025-09-10

$Canaan Inc.(CAN)$ no need to explain

2025-09-04

$GitLab, Inc.(GTLB)$

2025-08-30

$Marvell Technology(MRVL)$ I bought the dip... Hope bounce back soon

2025-08-27

$Tiger Brokers(TIGR)$ as I said usually it beats everything in earnings but fall sharply.. so strange

2025-08-27

But stock won't move up...

UP Fintech: Profit Surges Nearly 8x YoY, Client Assets Reach Record High of US$52.1 Billion

Go to Tiger App to see more news

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If related AI workloads continue to grow, shortages of key components could persist for more than five years, with memory and HDDs being the areas he is most concerned about at present. Compared with past hardware supply tightness that typically lasted several quarters, this round of demand growth could bring a longer-term supply-demand gap. Morgan Stanley reassessed the current AI infrastructure cycle after the meeting. Analysts noted that the eight hardware boom-and-bust cycles over the past 40 years mostly revolved around equipment replacement and fluctuations in capital expenditure, while the key variable in this cycle is whether AI workloads can continue to expand. In other words, what the Dell executive emphasized is not an ordinary hardware restocking cycle, but a long-term infrastructure expansion potentially driven by growth in agentic AI demand.<br><br><b>Agentic AI Reshapes the Logic of Infrastructure Demand</b><br><br>The report noted that Clarke believes this AI cycle is fundamentally different from the hardware booms and busts of past decades. The previous eight hardware cycles—covering categories such as servers, storage and PCs—were mainly driven by changes in device penetration and replacement cycles, with demand rising and falling along with replacement rhythms, but the hardware market itself did not undergo substantial expansion in scale. Take PC demand during the pandemic as an example: the human-to-device ratio briefly increased, but as society reopened and returned to normal, PC demand also fell back, and the total market size before and after the pandemic did not change in essence. The logic of agentic AI is different. Clarke believes agentic AI is decoupling cognitive output from human input, allowing enterprises to complete more work without adding staff, thereby generating productivity gains of 10x or even 100x. In this process, AI is no longer merely assisting people in completing tasks, but itself becomes a \"productivity tool\" that continuously consumes computing resources. Productivity gains will push more enterprises, regardless of size, to begin AI transformation, thereby continuously expanding the infrastructure TAM. Dell expects that by 2030, data center computing power will add 200 gigawatts, ZettaFLOPS computing power will grow 5x to 830, and the growth of inference tokens will be exponential. The number of tokens required for agentic AI to complete each unit of work is far higher than that of basic chatbots, and Clarke expects inference token generation to grow 87x by 2030.<br><br><b>Cloud and On-Premises Deployment Are Not a Zero-Sum Game</b><br><br>A core question in the market about this round of the AI infrastructure cycle is: will rapidly growing token demand ultimately flow mainly to cloud computing platforms rather than on-premises infrastructure? Clarke's judgment is that agentic AI workloads will take a hybrid deployment form. Enterprises will continuously adjust where inference workloads run between public cloud and on-premises environments based on security and cost efficiency. Clarke used Dell itself as an example: the company will deploy content-related workloads in the public cloud, but will not move proprietary source code or telemetry data out of its own facilities. This means there is no single deployment path for AI workloads, and on-premises infrastructure will still take on a portion of continuously growing computing demand. Under this framework, the exponential growth of token consumption does not necessarily mean that cloud and on-premises infrastructure must form a seesaw relationship. Clarke believes the spread of open-weight models will further drive on-premises infrastructure investment, because enterprises can optimize model output for cost in local environments.<br><br><b>Server Shipment Declines Do Not Change the Long-Term Demand Growth Logic</b><br><br>Traditional server shipments are still declining year over year, which appears to contradict the explosive growth of inference tokens. Clarke's explanation is that the substantial improvement in server performance density is pushing down equipment shipment volumes. Dell's 17th/18th generation servers can replace as many as 13 14th generation traditional servers, so in the short term, even if server shipments decline, the value and carrying capacity per unit are still increasing. As data centers gradually complete the architectural restructuring centered on accelerated computing, and the spread of agentic AI further drives demand for CPU servers, server shipments are ultimately still expected to resume growth. Clarke even said that if inference tokens truly achieve 87x growth within five years, traditional server shipments could also change exponentially. Storage will likewise be continuously driven by agentic AI. Every operation performed by agentic AI, including memory retention and artifact generation, will generate continuous data storage demand; with the large-scale application of KV Cache, storage capacity demand will further increase.<br><br><b>Supply Shortages May Become a Structural Constraint of More Than Five Years</b><br><br>Compared with macroeconomic conditions, geopolitical conflicts, overbuilding of data centers and power shortages, Clarke ranks supply issues as his greatest current concern, and used \"We're in neverland\" to describe the current supply environment. Morgan Stanley pointed out that commodity supply cycles historically typically lasted 2 to 4 quarters, mainly affected by booms and busts in hardware replacement cycles and supply-side decisions. But Clarke believes that if one accepts the growth logic of gigawatts and inference tokens, then key components such as memory and HDDs are no longer merely in an ordinary short-term cycle. Therefore, Dell is currently operating on the premise that key components may face sustained multi-year shortages, with particular attention to memory and HDDs. In other words, the core risk of this round of supply tightness is not short-term insufficient supply, but that after continuous expansion of AI demand, the supply side may need years to catch up. Clarke also said that Dell is superior to peers in supply management, and this advantage is being converted into share gains in multiple segments such as servers, storage and PCs.<br><br><b>Behind Margin Expansion Is a Change in the Supply-Demand Structure</b><br><br>Persistent tightness in key components is also changing the pricing environment of the infrastructure industry. Morgan Stanley had previously attributed part of the gross margin expansion in the server and storage businesses to \"profit stacking,\" that is, while costs of components such as memory rise, vendors further add profit margin. Clarke gave a different explanation. He acknowledged that server and storage margins for similar products are indeed expanding, but believes there are two structural factors behind it: first, when component supply is limited, enterprises will prioritize allocating scarce resources to the highest-margin products; second, as the infrastructure market continues to expand, pressure on enterprises to compete for incremental customers declines, and they do not need to lower prices to win new customers. Therefore, the improvement in margins is not entirely opportunistic gains brought by short-term supply-demand mismatch, but also reflects a change in the industry pricing benchmark after continuous expansion of infrastructure demand. If the workload growth brought by agentic AI can continue to materialize, the core variable of the AI infrastructure cycle will shift from \"equipment replacement\" to \"new demand.\" This means demand expansion for computing power, servers and storage may last longer, and supply constraints for key components such as memory and HDDs may also shift from short-term cyclical fluctuations to a multi-year structural issue.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Dell Executive: \"Agentic AI\" Is Different This Time, Shortages of Key Components (Mainly Memory and HDDs) Could Last More Than 5 Years</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDell Executive: \"Agentic AI\" Is Different This Time, Shortages of Key Components (Mainly Memory and HDDs) Could Last More Than 5 Years\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036600163\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock News </p>\n<p class=\"h-time\">2026-09-25 14:20</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Agentic AI is reshaping the underlying logic of traditional hardware cycles and could turn infrastructure supply tightness from a short-term fluctuation into a structural constraint lasting for years.<br><br><b>Dell Technologies</b> (<b>DELL.US</b>) Chief Operating Officer Jeff Clarke said during a recent meeting with Morgan Stanley that agentic AI is markedly different from past hardware cycles. If related AI workloads continue to grow, shortages of key components could persist for more than five years, with memory and HDDs being the areas he is most concerned about at present. Compared with past hardware supply tightness that typically lasted several quarters, this round of demand growth could bring a longer-term supply-demand gap. Morgan Stanley reassessed the current AI infrastructure cycle after the meeting. Analysts noted that the eight hardware boom-and-bust cycles over the past 40 years mostly revolved around equipment replacement and fluctuations in capital expenditure, while the key variable in this cycle is whether AI workloads can continue to expand. In other words, what the Dell executive emphasized is not an ordinary hardware restocking cycle, but a long-term infrastructure expansion potentially driven by growth in agentic AI demand.<br><br><b>Agentic AI Reshapes the Logic of Infrastructure Demand</b><br><br>The report noted that Clarke believes this AI cycle is fundamentally different from the hardware booms and busts of past decades. The previous eight hardware cycles—covering categories such as servers, storage and PCs—were mainly driven by changes in device penetration and replacement cycles, with demand rising and falling along with replacement rhythms, but the hardware market itself did not undergo substantial expansion in scale. Take PC demand during the pandemic as an example: the human-to-device ratio briefly increased, but as society reopened and returned to normal, PC demand also fell back, and the total market size before and after the pandemic did not change in essence. The logic of agentic AI is different. Clarke believes agentic AI is decoupling cognitive output from human input, allowing enterprises to complete more work without adding staff, thereby generating productivity gains of 10x or even 100x. In this process, AI is no longer merely assisting people in completing tasks, but itself becomes a \"productivity tool\" that continuously consumes computing resources. Productivity gains will push more enterprises, regardless of size, to begin AI transformation, thereby continuously expanding the infrastructure TAM. Dell expects that by 2030, data center computing power will add 200 gigawatts, ZettaFLOPS computing power will grow 5x to 830, and the growth of inference tokens will be exponential. The number of tokens required for agentic AI to complete each unit of work is far higher than that of basic chatbots, and Clarke expects inference token generation to grow 87x by 2030.<br><br><b>Cloud and On-Premises Deployment Are Not a Zero-Sum Game</b><br><br>A core question in the market about this round of the AI infrastructure cycle is: will rapidly growing token demand ultimately flow mainly to cloud computing platforms rather than on-premises infrastructure? Clarke's judgment is that agentic AI workloads will take a hybrid deployment form. Enterprises will continuously adjust where inference workloads run between public cloud and on-premises environments based on security and cost efficiency. Clarke used Dell itself as an example: the company will deploy content-related workloads in the public cloud, but will not move proprietary source code or telemetry data out of its own facilities. This means there is no single deployment path for AI workloads, and on-premises infrastructure will still take on a portion of continuously growing computing demand. Under this framework, the exponential growth of token consumption does not necessarily mean that cloud and on-premises infrastructure must form a seesaw relationship. Clarke believes the spread of open-weight models will further drive on-premises infrastructure investment, because enterprises can optimize model output for cost in local environments.<br><br><b>Server Shipment Declines Do Not Change the Long-Term Demand Growth Logic</b><br><br>Traditional server shipments are still declining year over year, which appears to contradict the explosive growth of inference tokens. Clarke's explanation is that the substantial improvement in server performance density is pushing down equipment shipment volumes. Dell's 17th/18th generation servers can replace as many as 13 14th generation traditional servers, so in the short term, even if server shipments decline, the value and carrying capacity per unit are still increasing. As data centers gradually complete the architectural restructuring centered on accelerated computing, and the spread of agentic AI further drives demand for CPU servers, server shipments are ultimately still expected to resume growth. Clarke even said that if inference tokens truly achieve 87x growth within five years, traditional server shipments could also change exponentially. Storage will likewise be continuously driven by agentic AI. Every operation performed by agentic AI, including memory retention and artifact generation, will generate continuous data storage demand; with the large-scale application of KV Cache, storage capacity demand will further increase.<br><br><b>Supply Shortages May Become a Structural Constraint of More Than Five Years</b><br><br>Compared with macroeconomic conditions, geopolitical conflicts, overbuilding of data centers and power shortages, Clarke ranks supply issues as his greatest current concern, and used \"We're in neverland\" to describe the current supply environment. Morgan Stanley pointed out that commodity supply cycles historically typically lasted 2 to 4 quarters, mainly affected by booms and busts in hardware replacement cycles and supply-side decisions. But Clarke believes that if one accepts the growth logic of gigawatts and inference tokens, then key components such as memory and HDDs are no longer merely in an ordinary short-term cycle. Therefore, Dell is currently operating on the premise that key components may face sustained multi-year shortages, with particular attention to memory and HDDs. In other words, the core risk of this round of supply tightness is not short-term insufficient supply, but that after continuous expansion of AI demand, the supply side may need years to catch up. Clarke also said that Dell is superior to peers in supply management, and this advantage is being converted into share gains in multiple segments such as servers, storage and PCs.<br><br><b>Behind Margin Expansion Is a Change in the Supply-Demand Structure</b><br><br>Persistent tightness in key components is also changing the pricing environment of the infrastructure industry. Morgan Stanley had previously attributed part of the gross margin expansion in the server and storage businesses to \"profit stacking,\" that is, while costs of components such as memory rise, vendors further add profit margin. Clarke gave a different explanation. He acknowledged that server and storage margins for similar products are indeed expanding, but believes there are two structural factors behind it: first, when component supply is limited, enterprises will prioritize allocating scarce resources to the highest-margin products; second, as the infrastructure market continues to expand, pressure on enterprises to compete for incremental customers declines, and they do not need to lower prices to win new customers. Therefore, the improvement in margins is not entirely opportunistic gains brought by short-term supply-demand mismatch, but also reflects a change in the industry pricing benchmark after continuous expansion of infrastructure demand. If the workload growth brought by agentic AI can continue to materialize, the core variable of the AI infrastructure cycle will shift from \"equipment replacement\" to \"new demand.\" This means demand expansion for computing power, servers and storage may last longer, and supply constraints for key components such as memory and HDDs may also shift from short-term cyclical fluctuations to a multi-year structural issue.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"QTOC":"Innovator Growth Accelerated Plus ETF - October","ARTY":"ISHARES FUTURE AI & TECH ETF","AGIX":"通用人工智能 ETF-AGIX","DRAM":"Roundhill Memory ETF","VTHR":"Vanguard Russell 3000 ETF","AIPO":"Defiance AI and Power Infrastructure ETF","RAMZ":"T-REX 2X INVERSE DRAM DAILY TARGET ETF","DRAL":"2倍做多DRAM ETF-Defiance","RAM":"2倍做多DRAM ETF-T-REX","CHAT":"ROUNDHILL GENERATIVE AI & TECHNOLOGY ETF","BK4588":"碎股"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117875090","content_text":"Agentic AI is reshaping the underlying logic of traditional hardware cycles and could turn infrastructure supply tightness from a short-term fluctuation into a structural constraint lasting for years.Dell Technologies (DELL.US) Chief Operating Officer Jeff Clarke said during a recent meeting with Morgan Stanley that agentic AI is markedly different from past hardware cycles. If related AI workloads continue to grow, shortages of key components could persist for more than five years, with memory and HDDs being the areas he is most concerned about at present. Compared with past hardware supply tightness that typically lasted several quarters, this round of demand growth could bring a longer-term supply-demand gap. Morgan Stanley reassessed the current AI infrastructure cycle after the meeting. Analysts noted that the eight hardware boom-and-bust cycles over the past 40 years mostly revolved around equipment replacement and fluctuations in capital expenditure, while the key variable in this cycle is whether AI workloads can continue to expand. In other words, what the Dell executive emphasized is not an ordinary hardware restocking cycle, but a long-term infrastructure expansion potentially driven by growth in agentic AI demand.Agentic AI Reshapes the Logic of Infrastructure DemandThe report noted that Clarke believes this AI cycle is fundamentally different from the hardware booms and busts of past decades. The previous eight hardware cycles—covering categories such as servers, storage and PCs—were mainly driven by changes in device penetration and replacement cycles, with demand rising and falling along with replacement rhythms, but the hardware market itself did not undergo substantial expansion in scale. Take PC demand during the pandemic as an example: the human-to-device ratio briefly increased, but as society reopened and returned to normal, PC demand also fell back, and the total market size before and after the pandemic did not change in essence. The logic of agentic AI is different. Clarke believes agentic AI is decoupling cognitive output from human input, allowing enterprises to complete more work without adding staff, thereby generating productivity gains of 10x or even 100x. In this process, AI is no longer merely assisting people in completing tasks, but itself becomes a \"productivity tool\" that continuously consumes computing resources. Productivity gains will push more enterprises, regardless of size, to begin AI transformation, thereby continuously expanding the infrastructure TAM. Dell expects that by 2030, data center computing power will add 200 gigawatts, ZettaFLOPS computing power will grow 5x to 830, and the growth of inference tokens will be exponential. The number of tokens required for agentic AI to complete each unit of work is far higher than that of basic chatbots, and Clarke expects inference token generation to grow 87x by 2030.Cloud and On-Premises Deployment Are Not a Zero-Sum GameA core question in the market about this round of the AI infrastructure cycle is: will rapidly growing token demand ultimately flow mainly to cloud computing platforms rather than on-premises infrastructure? Clarke's judgment is that agentic AI workloads will take a hybrid deployment form. Enterprises will continuously adjust where inference workloads run between public cloud and on-premises environments based on security and cost efficiency. Clarke used Dell itself as an example: the company will deploy content-related workloads in the public cloud, but will not move proprietary source code or telemetry data out of its own facilities. This means there is no single deployment path for AI workloads, and on-premises infrastructure will still take on a portion of continuously growing computing demand. Under this framework, the exponential growth of token consumption does not necessarily mean that cloud and on-premises infrastructure must form a seesaw relationship. Clarke believes the spread of open-weight models will further drive on-premises infrastructure investment, because enterprises can optimize model output for cost in local environments.Server Shipment Declines Do Not Change the Long-Term Demand Growth LogicTraditional server shipments are still declining year over year, which appears to contradict the explosive growth of inference tokens. Clarke's explanation is that the substantial improvement in server performance density is pushing down equipment shipment volumes. Dell's 17th/18th generation servers can replace as many as 13 14th generation traditional servers, so in the short term, even if server shipments decline, the value and carrying capacity per unit are still increasing. As data centers gradually complete the architectural restructuring centered on accelerated computing, and the spread of agentic AI further drives demand for CPU servers, server shipments are ultimately still expected to resume growth. Clarke even said that if inference tokens truly achieve 87x growth within five years, traditional server shipments could also change exponentially. Storage will likewise be continuously driven by agentic AI. Every operation performed by agentic AI, including memory retention and artifact generation, will generate continuous data storage demand; with the large-scale application of KV Cache, storage capacity demand will further increase.Supply Shortages May Become a Structural Constraint of More Than Five YearsCompared with macroeconomic conditions, geopolitical conflicts, overbuilding of data centers and power shortages, Clarke ranks supply issues as his greatest current concern, and used \"We're in neverland\" to describe the current supply environment. Morgan Stanley pointed out that commodity supply cycles historically typically lasted 2 to 4 quarters, mainly affected by booms and busts in hardware replacement cycles and supply-side decisions. But Clarke believes that if one accepts the growth logic of gigawatts and inference tokens, then key components such as memory and HDDs are no longer merely in an ordinary short-term cycle. Therefore, Dell is currently operating on the premise that key components may face sustained multi-year shortages, with particular attention to memory and HDDs. In other words, the core risk of this round of supply tightness is not short-term insufficient supply, but that after continuous expansion of AI demand, the supply side may need years to catch up. Clarke also said that Dell is superior to peers in supply management, and this advantage is being converted into share gains in multiple segments such as servers, storage and PCs.Behind Margin Expansion Is a Change in the Supply-Demand StructurePersistent tightness in key components is also changing the pricing environment of the infrastructure industry. Morgan Stanley had previously attributed part of the gross margin expansion in the server and storage businesses to \"profit stacking,\" that is, while costs of components such as memory rise, vendors further add profit margin. Clarke gave a different explanation. He acknowledged that server and storage margins for similar products are indeed expanding, but believes there are two structural factors behind it: first, when component supply is limited, enterprises will prioritize allocating scarce resources to the highest-margin products; second, as the infrastructure market continues to expand, pressure on enterprises to compete for incremental customers declines, and they do not need to lower prices to win new customers. Therefore, the improvement in margins is not entirely opportunistic gains brought by short-term supply-demand mismatch, but also reflects a change in the industry pricing benchmark after continuous expansion of infrastructure demand. If the workload growth brought by agentic AI can continue to materialize, the core variable of the AI infrastructure cycle will shift from \"equipment replacement\" to \"new demand.\" This means demand expansion for computing power, servers and storage may last longer, and supply constraints for key components such as memory and HDDs may also shift from short-term cyclical fluctuations to a multi-year structural issue.","news_type":1,"symbols_score_info":{"CHAT":1,"QTOC":1,"ARTY":1,"VTHR":1,"DRAM":1,"AGIX":1,"RAM":1,"AIPO":1,"RAMZ":1,"DRAL":1}},"isVote":1,"tweetType":1,"viewCount":131,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":590535496393136,"gmtCreate":1785170354916,"gmtModify":1785170357710,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4194744888979592","idStr":"4194744888979592"},"themes":[],"title":"","htmlText":"But stocks were tumbled&nbsp;","listText":"But stocks were tumbled&nbsp;","text":"But stocks were tumbled","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/590535496393136","repostId":"1165087903","repostType":2,"repost":{"id":"1165087903","kind":"news","weMediaInfo":{"introduction":"Global Stock Market Deep Analysis","home_visible":1,"media_name":"Deep News","id":"1039043262","head_image":"https://community-static.tradeup.com/news/8296859682db4b478146245e72de1922"},"pubTimestamp":1785151359,"share":"https://ttm.financial/m/news/1165087903?lang=en_US&edition=fundamental","pubTime":"2026-07-27 19:22","market":"nz","language":"en","title":"Memory Giants Inking $700 Billion in Deals, Bernstein Says Pullbacks Are a Buying Opportunity","url":"https://stock-news.laohu8.com/highlight/detail?id=1165087903","media":"Deep News","summary":"Global memory leaders and chip designers signed multi-hundred-billion-dollar long-term agreements at a Korean government-hosted AI summit in San Francisco, signaling the AI computing supply chain is...","content":"<p>Global memory leaders and chip designers signed multi-hundred-billion-dollar long-term agreements at a Korean government-hosted AI summit in San Francisco, signaling the AI computing supply chain is shifting from on-demand procurement to ultra-long-term capacity locking.<br><br>\n<b>SK hynix</b> signed a letter of intent with <b>NVIDIA</b> valued at over $500 billion, covering memory supply and a planned 2GW Vera Rubin DSX AI factory project for SK Telecom set to launch in 2027.<br><br>\n<b>Samsung Electronics</b> reached a $200 billion strategic memorandum with <b>Broadcom</b>, locking in high-bandwidth memory (HBM) supply and advanced foundry services below 2 nanometers through 2030.<br><br>\nFollowing the announcement of these deals, prominent firm Bernstein reaffirmed its bullish stance on the memory sector, maintaining outperform ratings on <b>Samsung Electronics</b>, <b>SK hynix</b>, and <b>Micron Technology</b>, and noted that recent sector pullbacks offer a favorable entry point.<br><br>\n<b>Two Mega Deals Locking Long-Term Capacity</b><br><br>\nThe letter of intent between <b>SK hynix</b> and <b>NVIDIA</b> is the largest single agreement disclosed at the summit.<br><br>\nBernstein analysts, led by Mark Li, pointed out that the memory partnership covers long-term technology development and stable supply of next-generation AI memory, aiming to help <b>SK hynix</b> expand its growth base.<br><br>\nThe SK Group also plans to seek an additional $250 billion in global memory supply cooperation over the next five years, further solidifying its core position in the AI memory supply chain.<br><br>\nThe memorandum between <b>Samsung</b> and <b>Broadcom</b> covers both memory (including HBM) and foundry. The foundry portion will focus on 2nm and more advanced process technologies, utilizing advanced packaging solutions that analysts compare to TSMC's CoWoS.<br><br>\nThe agreement extends through 2030, providing ultra-long-term demand visibility for <b>Samsung</b>'s foundry business.<br><br>\n<b>Bernstein: Memory Is More Important to AI Than Logic Chips</b><br><br>\nBernstein explicitly stated in its report that the disclosed amounts mainly point to the memory segment, reflecting the urgent need for <b>NVIDIA</b> and <b>Broadcom</b> to secure memory supply.<br><br>\nAnalysts provided a reference data point: market consensus expects global memory annual revenue to be around $1.3 trillion in both 2027 and 2028. While Bernstein said it cannot precisely quantify the impact of these agreements, the magnitude of the numbers relative to industry revenue expectations further supports the critical weight of memory chips in AI infrastructure.<br><br>\nBernstein believes memory chips are more important to AI than logic semiconductors. Based on this judgment, the firm maintains outperform ratings on <b>Samsung</b>, <b>SK hynix</b>, and <b>Micron</b>.<br><br>\nFor <b>TSMC</b>, Bernstein views the impact of these agreements as negligible, as it is uncertain whether <b>Broadcom</b> will actually produce AI ASICs at <b>Samsung</b>, and <b>TSMC</b>'s capacity demand queue remains full.<br><br>\nIn the NAND field, long-term competitive pressure from China cannot be ignored. Based on this assessment, Bernstein gives <b>Kioxia</b> an underperform rating.<br><br>\n<b>Deals Ease Supply Anxiety for NVIDIA and Broadcom</b><br><br>\nFor the two chip designers, <b>NVIDIA</b> and <b>Broadcom</b>, downstream AI-related growth guidance is strong, but supply anxiety over upstream memory capacity is equally real.<br><br>\nBernstein noted that the new partnerships help alleviate supply-side concerns for these two companies.<br><br>\nThe agreements disclosed at the summit essentially represent a form of risk hedging at the supply chain level—AI computing demand parties lock in future capacity through ultra-long-term contracts, thereby eliminating supply uncertainty of key materials in their expansion strategies. For investors, this trend means the revenue visibility of memory giants is undergoing a qualitative improvement.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Memory Giants Inking $700 Billion in Deals, Bernstein Says Pullbacks Are a Buying Opportunity</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMemory Giants Inking $700 Billion in Deals, Bernstein Says Pullbacks Are a Buying Opportunity\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1039043262\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/8296859682db4b478146245e72de1922);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Deep News </p>\n<p class=\"h-time\">2026-07-27 19:22</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Global memory leaders and chip designers signed multi-hundred-billion-dollar long-term agreements at a Korean government-hosted AI summit in San Francisco, signaling the AI computing supply chain is shifting from on-demand procurement to ultra-long-term capacity locking.<br><br>\n<b>SK hynix</b> signed a letter of intent with <b>NVIDIA</b> valued at over $500 billion, covering memory supply and a planned 2GW Vera Rubin DSX AI factory project for SK Telecom set to launch in 2027.<br><br>\n<b>Samsung Electronics</b> reached a $200 billion strategic memorandum with <b>Broadcom</b>, locking in high-bandwidth memory (HBM) supply and advanced foundry services below 2 nanometers through 2030.<br><br>\nFollowing the announcement of these deals, prominent firm Bernstein reaffirmed its bullish stance on the memory sector, maintaining outperform ratings on <b>Samsung Electronics</b>, <b>SK hynix</b>, and <b>Micron Technology</b>, and noted that recent sector pullbacks offer a favorable entry point.<br><br>\n<b>Two Mega Deals Locking Long-Term Capacity</b><br><br>\nThe letter of intent between <b>SK hynix</b> and <b>NVIDIA</b> is the largest single agreement disclosed at the summit.<br><br>\nBernstein analysts, led by Mark Li, pointed out that the memory partnership covers long-term technology development and stable supply of next-generation AI memory, aiming to help <b>SK hynix</b> expand its growth base.<br><br>\nThe SK Group also plans to seek an additional $250 billion in global memory supply cooperation over the next five years, further solidifying its core position in the AI memory supply chain.<br><br>\nThe memorandum between <b>Samsung</b> and <b>Broadcom</b> covers both memory (including HBM) and foundry. The foundry portion will focus on 2nm and more advanced process technologies, utilizing advanced packaging solutions that analysts compare to TSMC's CoWoS.<br><br>\nThe agreement extends through 2030, providing ultra-long-term demand visibility for <b>Samsung</b>'s foundry business.<br><br>\n<b>Bernstein: Memory Is More Important to AI Than Logic Chips</b><br><br>\nBernstein explicitly stated in its report that the disclosed amounts mainly point to the memory segment, reflecting the urgent need for <b>NVIDIA</b> and <b>Broadcom</b> to secure memory supply.<br><br>\nAnalysts provided a reference data point: market consensus expects global memory annual revenue to be around $1.3 trillion in both 2027 and 2028. While Bernstein said it cannot precisely quantify the impact of these agreements, the magnitude of the numbers relative to industry revenue expectations further supports the critical weight of memory chips in AI infrastructure.<br><br>\nBernstein believes memory chips are more important to AI than logic semiconductors. Based on this judgment, the firm maintains outperform ratings on <b>Samsung</b>, <b>SK hynix</b>, and <b>Micron</b>.<br><br>\nFor <b>TSMC</b>, Bernstein views the impact of these agreements as negligible, as it is uncertain whether <b>Broadcom</b> will actually produce AI ASICs at <b>Samsung</b>, and <b>TSMC</b>'s capacity demand queue remains full.<br><br>\nIn the NAND field, long-term competitive pressure from China cannot be ignored. Based on this assessment, Bernstein gives <b>Kioxia</b> an underperform rating.<br><br>\n<b>Deals Ease Supply Anxiety for NVIDIA and Broadcom</b><br><br>\nFor the two chip designers, <b>NVIDIA</b> and <b>Broadcom</b>, downstream AI-related growth guidance is strong, but supply anxiety over upstream memory capacity is equally real.<br><br>\nBernstein noted that the new partnerships help alleviate supply-side concerns for these two companies.<br><br>\nThe agreements disclosed at the summit essentially represent a form of risk hedging at the supply chain level—AI computing demand parties lock in future capacity through ultra-long-term contracts, thereby eliminating supply uncertainty of key materials in their expansion strategies. For investors, this trend means the revenue visibility of memory giants is undergoing a qualitative improvement.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVD2.UK":"2X NVIDIA ETP","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","LU2471134879.HKD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (HKD) INC","LU2471134523.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) ACC","IE00B19Z8X17.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH  \"AG\" (USD) ACC","LU2471134796.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) INC","LU0861579265.USD":"联博低波幅策略股票基金A","LU2247934214.USD":"FIDELITY FUNDS SUSTAINABLE FUTURE CONNECTIVITY \"A\" (USD) ACC","IE0003U64NQ7.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) ACC","SGXZ81514606.USD":"大华环球创新基金A Acc USD","LU2720916845.USD":"BGF GLOBAL UNCONSTRAINED EQUITY \"A2\" (USD) ACC","LU0708994859.HKD":"TEMPLETON GLOBAL \"A\" (HKD) ACC","LU0187121727.USD":"FIDELITY SUSTAINABLE US EQUITY \"A\" (USD) INC","LU0823434583.USD":"BNP PARIBAS US GROWTH \"C\" (USD) ACC","LU2750360641.GBP":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (GBPHDG) INC","IE000KEQY171.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) INC","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","LU2023251221.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"AM\" (USD) INC","FDTX":"Fidelity Disruptive Technology ETF","LU0965509010.AUD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (AUDHDG) INC","LU2750360997.AUD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (AUDHDG) INC","HK0000914686.HKD":"GFI Global Select Equity Fund Class A (HKD)","LU0823434740.USD":"BNP PARIBAS US GROWTH \"C\" (USD) INC","CGBL":"Capital Group Core Balanced Etf","HK0000914660.USD":"GFI Global Select Equity Fund Class A (USD)","LU1732800096.USD":"摩根大通环球收益基金A (irc)","CMAG":"Corgi Mag 7 ETF","IE00BYV24P56.USD":"GUINNESS EMERGING MARKETS EQUITY INCOME \"C\" (USD) ACC","IE00BZ199S13.USD":"BNY MELLON MOBILITY INNOVATION \"B\" (USD) ACC","LU2095319765.USD":"Natixis Thematics Subscription Economy R/A USD","LU1084165304.USD":"FIDELITY WORLD \"A\" (USD) ACC","IE00BMCWC346.EUR":"GUINNESS EMERGING MARKETS EQUITY INCOME \"C\" (EUR) ACC","LU2210150020.SGD":"Natixis Thematics Subscription Economy R/A SGD","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","FTEC":"Fidelity MSCI Information Techno","LU2089283258.USD":"安联环球可持续基金Cl AM Dis","SG9999018865.SGD":"United Global Quality Growth Fd Cl Dist SGD-H","LU2210149790.SGD":"Natixis Thematics Subscription Economy R/A SGD-H","LU1861215975.USD":"贝莱德新一代科技基金 A2","IE00BVYPNV92.GBP":"GUINNESS GLOBAL EQUITY INCOME \"C\" (GBP) ACC","IE00B4YYXB79.USD":"PIMCO BALANCED INCOME AND GROWTH \"E\" (USD) ACC","LU1323610961.USD":"UBS (LUX) EQUITY SICAV - 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Innovation and Tech Active ETF","LU2237438978.USD":"Amundi Funds US Pioneer A2 (C) USD","LU1642822529.SGD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"A\" (SGD) ACC","IE00BDCRKT87.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"ADC\" (USD) INC","LU0444973449.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"DU\" (USD) ACC","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC","LU0274383776.USD":"MANULIFE GF US SMALL CAP EQUITY \"AA\" (USD) INC","LU1496350171.SGD":"FRANKLIN DIVERSIFIED BALANCED \"A\" (SGDHDG) ACC","BK4532":"文艺复兴科技持仓","LU2463028550.USD":"AB SICAV I AMERICAN MULTI-ASSET PORTFOLIO \"A\" (USD) ACC","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","LU2505996681.GBP":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (GBPHDG) INC","LU2023250843.SGD":"Allianz Thematica Cl AT Acc H2-SGD","VT":"世界全股市ETF-Vanguard","NVDO":"2倍上限加速NVDA ETF-Leverage Shares","TDIV":"第一信托纳斯达克科技股利指数基金","LU2505996509.AUD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (AUDHDG) INC","LU2065171311.SGD":"M&G (LUX) GLOBAL MAXIMA \"A\" (SGD) ACC","BK4534":"瑞士信贷持仓","IXN":"iShares Trust S&P Global Informa","LU2065171402.SGD":"M&G (LUX) GLOBAL MAXIMA \"A\" (SGD) INC","LU2552382215.SGD":"WELLINGTON US BRAND POWER \"A\" (SGDHDG) ACC","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU0353189763.USD":"ALLSPRING  US ALL CAP GROWTH FUND \"I\" (USD) ACC","HYNX":"2倍做多海力士ETF-T-REX","LU2552382058.USD":"WELLINGTON US BRAND POWER \"A\" (USD) ACC"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165087903","content_text":"Global memory leaders and chip designers signed multi-hundred-billion-dollar long-term agreements at a Korean government-hosted AI summit in San Francisco, signaling the AI computing supply chain is shifting from on-demand procurement to ultra-long-term capacity locking.\nSK hynix signed a letter of intent with NVIDIA valued at over $500 billion, covering memory supply and a planned 2GW Vera Rubin DSX AI factory project for SK Telecom set to launch in 2027.\nSamsung Electronics reached a $200 billion strategic memorandum with Broadcom, locking in high-bandwidth memory (HBM) supply and advanced foundry services below 2 nanometers through 2030.\nFollowing the announcement of these deals, prominent firm Bernstein reaffirmed its bullish stance on the memory sector, maintaining outperform ratings on Samsung Electronics, SK hynix, and Micron Technology, and noted that recent sector pullbacks offer a favorable entry point.\nTwo Mega Deals Locking Long-Term Capacity\nThe letter of intent between SK hynix and NVIDIA is the largest single agreement disclosed at the summit.\nBernstein analysts, led by Mark Li, pointed out that the memory partnership covers long-term technology development and stable supply of next-generation AI memory, aiming to help SK hynix expand its growth base.\nThe SK Group also plans to seek an additional $250 billion in global memory supply cooperation over the next five years, further solidifying its core position in the AI memory supply chain.\nThe memorandum between Samsung and Broadcom covers both memory (including HBM) and foundry. The foundry portion will focus on 2nm and more advanced process technologies, utilizing advanced packaging solutions that analysts compare to TSMC's CoWoS.\nThe agreement extends through 2030, providing ultra-long-term demand visibility for Samsung's foundry business.\nBernstein: Memory Is More Important to AI Than Logic Chips\nBernstein explicitly stated in its report that the disclosed amounts mainly point to the memory segment, reflecting the urgent need for NVIDIA and Broadcom to secure memory supply.\nAnalysts provided a reference data point: market consensus expects global memory annual revenue to be around $1.3 trillion in both 2027 and 2028. While Bernstein said it cannot precisely quantify the impact of these agreements, the magnitude of the numbers relative to industry revenue expectations further supports the critical weight of memory chips in AI infrastructure.\nBernstein believes memory chips are more important to AI than logic semiconductors. Based on this judgment, the firm maintains outperform ratings on Samsung, SK hynix, and Micron.\nFor TSMC, Bernstein views the impact of these agreements as negligible, as it is uncertain whether Broadcom will actually produce AI ASICs at Samsung, and TSMC's capacity demand queue remains full.\nIn the NAND field, long-term competitive pressure from China cannot be ignored. Based on this assessment, Bernstein gives Kioxia an underperform rating.\nDeals Ease Supply Anxiety for NVIDIA and Broadcom\nFor the two chip designers, NVIDIA and Broadcom, downstream AI-related growth guidance is strong, but supply anxiety over upstream memory capacity is equally real.\nBernstein noted that the new partnerships help alleviate supply-side concerns for these two companies.\nThe agreements disclosed at the summit essentially represent a form of risk hedging at the supply chain level—AI computing demand parties lock in future capacity through ultra-long-term contracts, thereby eliminating supply uncertainty of key materials in their expansion strategies. For investors, this trend means the revenue visibility of memory giants is undergoing a qualitative improvement.","news_type":1,"symbols_score_info":{"NVII":1,"NVD":1,"AVGW":1,"NVD3.UK":1,"SOXY":1,"AVGG":1,"SNPE":1,"XLK":1,"NVDB":1,"AVGU":1,"SPTE":1,"SKHZ":1,"CMAG":1,"AIFD":1,"CHPX":1,"SNVD.UK":1,"IETC":1,"NVDS.UK":1,"FDTX":1,"ESLG":1,"LFGY":1,"NVDD":1,"METV":1,"SKUU":1,"SMHX":1,"NVDU":1,"EFIV":1,"THMR":1,"AVGX":1,"HAKY":1,"AIPI":1,"CGBL":1,"CGGO":1,"AVL":1,"HYNX":1,"SHOC":1,"CIBR":1,"AVS":1,"JGRO":1,"NVDG":1,"WISE":1,"TTXU":1,"VT":1,"NVDW":1,"NVDS":1,"ROM":1,"CNEQ":1,"NVDX":1,"NVDA":1,"SKHYV":1,"NVD2.UK":1,"NVDL":1,"SKHY":1,"SMH":1,"07388":1,"ARTY":1,"NULC":1,"ILDR":1,"NVYY":1,"TEK":1,"ANV":1,"CLSE":1,"SOXX":1,"USD":1,"SKHX":1,"GAMR":1,"TTEQ":1,"NVIW.SI":1,"SK":1,"USXF":1,"CHAT":1,"3NVD.UK":1,"SOXQ":1,"07747":1,"BAI":1,"FAI":1,"07788":1,"VGT":1,"ESUM":1,"NVDY":1,"FTEC":1,"CGDG":1,"AVGO":1,"IXN":1,"NVDO":1,"ABFL":1,"SKHU":1,"TYLG":1,"TRFK":1,"NVDQ":1,"SSNLF":1,"2NVD.UK":1,"TDIV":1,"AGOX":1,"DIPS":1,"SKDD":1}},"isVote":1,"tweetType":1,"viewCount":858,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":569615602279360,"gmtCreate":1780072596169,"gmtModify":1780072599535,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4194744888979592","idStr":"4194744888979592"},"themes":[],"title":"","htmlText":"<a href=\"https://ttm.financial/S/SNPS\">$Synopsys(SNPS)$&nbsp;</a><v-v data-views=\"1\"></v-v> Time to buy the dip","listText":"<a href=\"https://ttm.financial/S/SNPS\">$Synopsys(SNPS)$&nbsp;</a><v-v data-views=\"1\"></v-v> Time to buy the dip","text":"$Synopsys(SNPS)$ Time to buy the dip","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/569615602279360","isVote":1,"tweetType":1,"viewCount":1567,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":533642456309944,"gmtCreate":1771305349415,"gmtModify":1771305353524,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4194744888979592","idStr":"4194744888979592"},"themes":[],"title":"","htmlText":"Whyyy?","listText":"Whyyy?","text":"Whyyy?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/533642456309944","repostId":"1118154348","repostType":2,"repost":{"id":"1118154348","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1771305213,"share":"https://ttm.financial/m/news/1118154348?lang=en_US&edition=fundamental","pubTime":"2026-02-17 13:13","market":"us","language":"en","title":"24H | US Stock Futures Drop With Nasdaq Futures Down 0.8%; Big Tech Stocks Fall With Palantir, AMD, Alphabet, Broadcom Down over 1%","url":"https://stock-news.laohu8.com/highlight/detail?id=1118154348","media":"Tiger Newspress","summary":"US stock futures dropped on Tuesday. Nasdaq 100 futures slid 0.78%; S&P futures fell 0.45%; Dow futres  fell 0.31%.Big tech stocks fell in overnight trading. Palantir, AMD, Alphabet, Broadcom down over 1%.","content":"<html><head></head><body><p>US stock futures dropped on Tuesday. Nasdaq 100 futures slid 0.78%; S&amp;P futures fell 0.45%; Dow futres  fell 0.31%.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/4bc6dab167c58de4a475cc4e86ba0a22\" tg-width=\"552\" tg-height=\"249\"/></p><p>Big tech stocks fell in overnight trading. Palantir, AMD, Alphabet, Broadcom down over 1%.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/0e93dfff0c8f5f65da5350c87f731c40\" tg-width=\"900\" tg-height=\"642\"/></p><p></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>24H | US Stock Futures Drop With Nasdaq Futures Down 0.8%; Big Tech Stocks Fall With Palantir, AMD, Alphabet, Broadcom Down over 1%</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n24H | US Stock Futures Drop With Nasdaq Futures Down 0.8%; Big Tech Stocks Fall With Palantir, AMD, Alphabet, Broadcom Down over 1%\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2026-02-17 13:13</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>US stock futures dropped on Tuesday. Nasdaq 100 futures slid 0.78%; S&amp;P futures fell 0.45%; Dow futres  fell 0.31%.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/4bc6dab167c58de4a475cc4e86ba0a22\" tg-width=\"552\" tg-height=\"249\"/></p><p>Big tech stocks fell in overnight trading. Palantir, AMD, Alphabet, Broadcom down over 1%.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/0e93dfff0c8f5f65da5350c87f731c40\" tg-width=\"900\" tg-height=\"642\"/></p><p></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSM":"台积电","NFLX":"奈飞","AVGO":"博通","MSFT":"微软","META":"Meta Platforms, Inc.","AMD":"美国超微公司","ORCL":"甲骨文","TSLA":"特斯拉","AAPL":"苹果","AMZN":"亚马逊","SMCI":"超微电脑","NVDA":"英伟达","MU":"美光科技","GOOGL":"谷歌A","PLTR":"Palantir Technologies Inc."},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118154348","content_text":"US stock futures dropped on Tuesday. Nasdaq 100 futures slid 0.78%; S&P futures fell 0.45%; Dow futres  fell 0.31%.Big tech stocks fell in overnight trading. Palantir, AMD, Alphabet, Broadcom down over 1%.","news_type":1,"symbols_score_info":{"AAPL":2,"GOOGL":2,"PLTR":2,"MU":2,"NQmain":2,"SMCI":2,"AVGO":2,"ESmain":2,"AMD":2,"AMZN":2,"MSFT":2,"NVDA":2,"ORCL":2,"TSLA":2,"META":2,"TSM":2,"NFLX":2,"YMmain":2}},"isVote":1,"tweetType":1,"viewCount":2179,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":528889331119368,"gmtCreate":1770145559397,"gmtModify":1770145563329,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4194744888979592","idStr":"4194744888979592"},"themes":[],"title":"","htmlText":"<a href=\"https://ttm.financial/S/MRVL\">$Marvell Technology(MRVL)$&nbsp;</a><v-v data-views=\"1\"></v-v> one of the best at the moment&nbsp;","listText":"<a href=\"https://ttm.financial/S/MRVL\">$Marvell Technology(MRVL)$&nbsp;</a><v-v data-views=\"1\"></v-v> one of the best at the moment&nbsp;","text":"$Marvell Technology(MRVL)$ one of the best at the moment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/528889331119368","isVote":1,"tweetType":1,"viewCount":2404,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":522423689962080,"gmtCreate":1768579972571,"gmtModify":1768579975578,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4194744888979592","idStr":"4194744888979592"},"themes":[],"title":"","htmlText":"<a href=\"https://ttm.financial/S/MRVL\">$Marvell Technology(MRVL)$&nbsp;</a><v-v data-views=\"1\"></v-v>&nbsp;","listText":"<a href=\"https://ttm.financial/S/MRVL\">$Marvell Technology(MRVL)$&nbsp;</a><v-v data-views=\"1\"></v-v>&nbsp;","text":"$Marvell Technology(MRVL)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/522423689962080","isVote":1,"tweetType":1,"viewCount":2736,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":512567704560096,"gmtCreate":1766166153315,"gmtModify":1766166156968,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4194744888979592","idStr":"4194744888979592"},"themes":[],"title":"","htmlText":"<a href=\"https://ttm.financial/S/MRVL\">$Marvell Technology(MRVL)$&nbsp;</a><v-v data-views=\"1\"></v-v> most undervalued AI. Time to explode","listText":"<a href=\"https://ttm.financial/S/MRVL\">$Marvell Technology(MRVL)$&nbsp;</a><v-v data-views=\"1\"></v-v> most undervalued AI. Time to explode","text":"$Marvell Technology(MRVL)$ most undervalued AI. Time to explode","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/512567704560096","isVote":1,"tweetType":1,"viewCount":3046,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":496385766167432,"gmtCreate":1762210386192,"gmtModify":1762210389578,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4194744888979592","idStr":"4194744888979592"},"themes":[],"title":"","htmlText":"<a href=\"https://ttm.financial/S/UUUU\">$Energy Fuels(UUUU)$ </a> Bullish after so much sell off eand earnings revenue beat","listText":"<a href=\"https://ttm.financial/S/UUUU\">$Energy Fuels(UUUU)$ </a> Bullish after so much sell off eand earnings revenue beat","text":"$Energy Fuels(UUUU)$ Bullish after so much sell off eand earnings revenue beat","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/496385766167432","isVote":1,"tweetType":1,"viewCount":3366,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":490138207240600,"gmtCreate":1760685927978,"gmtModify":1760685931329,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4194744888979592","idStr":"4194744888979592"},"themes":[],"title":"","htmlText":"<a href=\"https://ttm.financial/S/UUUU\">$Energy Fuels(UUUU)$ </a> why it's falling like anything compared to MP even though it's just due to overall market sentiment&nbsp;","listText":"<a href=\"https://ttm.financial/S/UUUU\">$Energy Fuels(UUUU)$ </a> why it's falling like anything compared to MP even though it's just due to overall market sentiment&nbsp;","text":"$Energy Fuels(UUUU)$ why it's falling like anything compared to MP even though it's just due to overall market sentiment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":3,"link":"https://ttm.financial/post/490138207240600","isVote":1,"tweetType":1,"viewCount":6016,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":490106760413704,"gmtCreate":1760678366294,"gmtModify":1760678370025,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4194744888979592","idStr":"4194744888979592"},"themes":[],"title":"","htmlText":"Isn't good? Can someone explain the stock market impact&nbsp;","listText":"Isn't good? Can someone explain the stock market impact&nbsp;","text":"Isn't good? Can someone explain the stock market impact","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/490106760413704","repostId":"2576554724","repostType":2,"repost":{"id":"2576554724","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"pubTimestamp":1760672917,"share":"https://ttm.financial/m/news/2576554724?lang=en_US&edition=fundamental","pubTime":"2025-10-17 11:48","market":"fut","language":"en","title":"US Budget Deficit Falls $41 Billion to $1.775 Trillion in Fiscal 2025 As Tariffs, Debt Payments Both Saw New Records","url":"https://stock-news.laohu8.com/highlight/detail?id=2576554724","media":"Reuters","summary":"US budget deficit falls $41 billion to $1.775 trillion in fiscal 2025By David LawderWASHINGTON, Oct 16 (Reuters) - The U.S. budget deficit shrank by $41 billion to $1.775 trillion in the 2025 fiscal y","content":"<html><head></head><body><p>The U.S. budget deficit shrank by $41 billion to $1.775 trillion in the 2025 fiscal year, despite a $118 billion increase in revenues from President Donald Trump&#39;s tariffs, the Treasury Department reported on Thursday.</p><p style=\"text-align: start;\">The results for the year ended September 30, which include nearly nine months of Trump&#39;s second term in the White House, compared to a $1.817 trillion deficit in fiscal 2024. It was the first time the annual deficit had fallen since 2022, when the unwinding of COVID-19 relief programs brought spending down.</p><p>The smaller deficit was aided by a record $195 billion in net customs receipts for the fiscal year, an increase of $118 billion from the prior year as new Trump tariffs rolled in.</p><p style=\"text-align: start;\">Customs receipts in September reached a new record high of $29.7 billion, but the pace of increase slowed from August, when $29.5 billion was collected.</p><p style=\"text-align: start;\">Total receipts for fiscal 2025 were a record $5.235 trillion, up $317 billion, or 6%, from the $4.918 trillion in fiscal 2024.</p><p style=\"text-align: start;\">Fiscal 2025 outlays also were a record at $7.01 trillion, up $275 billion, or 4%, from the $6.735 trillion in the prior fiscal year.</p><h3 id=\"id_305117267\">TREASURY REPORTS RECORD SURPLUS FOR MONTH OF SEPTEMBER</h3><p style=\"text-align: start;\">A U.S. Treasury official said the department calculated an estimated deficit-to-GDP ratio of 5.9% for fiscal 2025, but declined to say what GDP estimate was used. This figure compares to an actual 6.3% deficit-to-GDP ratio for fiscal 2024.</p><p>For the 2025 fiscal year&#39;s final month of September, the Treasury reported a record surplus of $198 billion, up $118 billion, or 147%, from the same month in the prior year. September is often a month of surplus due to quarterly tax filing deadlines for companies and individuals.</p><p style=\"text-align: start;\">Receipts last month were up $17 billion, or 3%, to $544 billion, while outlays were down $101 billion, or 23%, to $346 billion.</p><p style=\"text-align: start;\">The latest monthly surplus was boosted by a $131 billion cut to the Department of Education budget that was mandated in the spending and tax-cut bill passed by the Republican-controlled Congress in July. For September, the education outlays were $123 billion lower than in September 2024.</p><p style=\"text-align: start;\">For the full 2025 fiscal year, the Department of Education suffered the biggest cut in outlays, down $233 billion, or 87% from the prior year to just $35 billion.</p><p>That cut and the higher customs receipts masked continued increases in outlays for the Social Security retirement plan, the Medicare and Medicaid healthcare programs and interest on the U.S. federal debt.</p><p style=\"text-align: start;\">The interest expenditure reached a record $1.216 trillion for the full fiscal year, up $83 billion, or 7%, from fiscal 2024, making it the second-largest expenditure item after Social Security. Expenses for that program reached $1.647 trillion, up $127 billion, or 8%, from the prior fiscal year.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US Budget Deficit Falls $41 Billion to $1.775 Trillion in Fiscal 2025 As Tariffs, Debt Payments Both Saw New Records</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS Budget Deficit Falls $41 Billion to $1.775 Trillion in Fiscal 2025 As Tariffs, Debt Payments Both Saw New Records\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1032215980\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2025-10-17 11:48</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>The U.S. budget deficit shrank by $41 billion to $1.775 trillion in the 2025 fiscal year, despite a $118 billion increase in revenues from President Donald Trump&#39;s tariffs, the Treasury Department reported on Thursday.</p><p style=\"text-align: start;\">The results for the year ended September 30, which include nearly nine months of Trump&#39;s second term in the White House, compared to a $1.817 trillion deficit in fiscal 2024. It was the first time the annual deficit had fallen since 2022, when the unwinding of COVID-19 relief programs brought spending down.</p><p>The smaller deficit was aided by a record $195 billion in net customs receipts for the fiscal year, an increase of $118 billion from the prior year as new Trump tariffs rolled in.</p><p style=\"text-align: start;\">Customs receipts in September reached a new record high of $29.7 billion, but the pace of increase slowed from August, when $29.5 billion was collected.</p><p style=\"text-align: start;\">Total receipts for fiscal 2025 were a record $5.235 trillion, up $317 billion, or 6%, from the $4.918 trillion in fiscal 2024.</p><p style=\"text-align: start;\">Fiscal 2025 outlays also were a record at $7.01 trillion, up $275 billion, or 4%, from the $6.735 trillion in the prior fiscal year.</p><h3 id=\"id_305117267\">TREASURY REPORTS RECORD SURPLUS FOR MONTH OF SEPTEMBER</h3><p style=\"text-align: start;\">A U.S. Treasury official said the department calculated an estimated deficit-to-GDP ratio of 5.9% for fiscal 2025, but declined to say what GDP estimate was used. This figure compares to an actual 6.3% deficit-to-GDP ratio for fiscal 2024.</p><p>For the 2025 fiscal year&#39;s final month of September, the Treasury reported a record surplus of $198 billion, up $118 billion, or 147%, from the same month in the prior year. September is often a month of surplus due to quarterly tax filing deadlines for companies and individuals.</p><p style=\"text-align: start;\">Receipts last month were up $17 billion, or 3%, to $544 billion, while outlays were down $101 billion, or 23%, to $346 billion.</p><p style=\"text-align: start;\">The latest monthly surplus was boosted by a $131 billion cut to the Department of Education budget that was mandated in the spending and tax-cut bill passed by the Republican-controlled Congress in July. For September, the education outlays were $123 billion lower than in September 2024.</p><p style=\"text-align: start;\">For the full 2025 fiscal year, the Department of Education suffered the biggest cut in outlays, down $233 billion, or 87% from the prior year to just $35 billion.</p><p>That cut and the higher customs receipts masked continued increases in outlays for the Social Security retirement plan, the Medicare and Medicaid healthcare programs and interest on the U.S. federal debt.</p><p style=\"text-align: start;\">The interest expenditure reached a record $1.216 trillion for the full fiscal year, up $83 billion, or 7%, from fiscal 2024, making it the second-largest expenditure item after Social Security. Expenses for that program reached $1.647 trillion, up $127 billion, or 8%, from the prior fiscal year.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20251016:nS0N3VH00A:1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2576554724","content_text":"The U.S. budget deficit shrank by $41 billion to $1.775 trillion in the 2025 fiscal year, despite a $118 billion increase in revenues from President Donald Trump's tariffs, the Treasury Department reported on Thursday.The results for the year ended September 30, which include nearly nine months of Trump's second term in the White House, compared to a $1.817 trillion deficit in fiscal 2024. It was the first time the annual deficit had fallen since 2022, when the unwinding of COVID-19 relief programs brought spending down.The smaller deficit was aided by a record $195 billion in net customs receipts for the fiscal year, an increase of $118 billion from the prior year as new Trump tariffs rolled in.Customs receipts in September reached a new record high of $29.7 billion, but the pace of increase slowed from August, when $29.5 billion was collected.Total receipts for fiscal 2025 were a record $5.235 trillion, up $317 billion, or 6%, from the $4.918 trillion in fiscal 2024.Fiscal 2025 outlays also were a record at $7.01 trillion, up $275 billion, or 4%, from the $6.735 trillion in the prior fiscal year.TREASURY REPORTS RECORD SURPLUS FOR MONTH OF SEPTEMBERA U.S. Treasury official said the department calculated an estimated deficit-to-GDP ratio of 5.9% for fiscal 2025, but declined to say what GDP estimate was used. This figure compares to an actual 6.3% deficit-to-GDP ratio for fiscal 2024.For the 2025 fiscal year's final month of September, the Treasury reported a record surplus of $198 billion, up $118 billion, or 147%, from the same month in the prior year. September is often a month of surplus due to quarterly tax filing deadlines for companies and individuals.Receipts last month were up $17 billion, or 3%, to $544 billion, while outlays were down $101 billion, or 23%, to $346 billion.The latest monthly surplus was boosted by a $131 billion cut to the Department of Education budget that was mandated in the spending and tax-cut bill passed by the Republican-controlled Congress in July. For September, the education outlays were $123 billion lower than in September 2024.For the full 2025 fiscal year, the Department of Education suffered the biggest cut in outlays, down $233 billion, or 87% from the prior year to just $35 billion.That cut and the higher customs receipts masked continued increases in outlays for the Social Security retirement plan, the Medicare and Medicaid healthcare programs and interest on the U.S. federal debt.The interest expenditure reached a record $1.216 trillion for the full fiscal year, up $83 billion, or 7%, from fiscal 2024, making it the second-largest expenditure item after Social Security. Expenses for that program reached $1.647 trillion, up $127 billion, or 8%, from the prior fiscal year.","news_type":1,"symbols_score_info":{".SPX":1.1,".DJI":1.1,".IXIC":1.1}},"isVote":1,"tweetType":1,"viewCount":4338,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":487307599471064,"gmtCreate":1760002163965,"gmtModify":1760002166532,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4194744888979592","idStr":"4194744888979592"},"themes":[],"title":"","htmlText":"<a href=\"https://ttm.financial/S/WWR\">$Westwater Resources Inc(WWR)$ </a> 🐂","listText":"<a href=\"https://ttm.financial/S/WWR\">$Westwater Resources Inc(WWR)$ </a> 🐂","text":"$Westwater Resources Inc(WWR)$ 🐂","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/487307599471064","isVote":1,"tweetType":1,"viewCount":3863,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":486368864633312,"gmtCreate":1759772856074,"gmtModify":1759772858286,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4194744888979592","idStr":"4194744888979592"},"themes":[],"title":"","htmlText":"<a href=\"https://ttm.financial/S/GTLB\">$GitLab, Inc.(GTLB)$&nbsp;</a><v-v data-views=\"1\"></v-v>&nbsp;","listText":"<a href=\"https://ttm.financial/S/GTLB\">$GitLab, Inc.(GTLB)$&nbsp;</a><v-v data-views=\"1\"></v-v>&nbsp;","text":"$GitLab, Inc.(GTLB)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/486368864633312","isVote":1,"tweetType":1,"viewCount":2887,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":479708775051880,"gmtCreate":1758140556105,"gmtModify":1758140559475,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4194744888979592","idStr":"4194744888979592"},"themes":[],"title":"","htmlText":"<a href=\"https://ttm.financial/S/RZLV\">$Rezolve AI(RZLV)$ </a> Great one&nbsp;","listText":"<a href=\"https://ttm.financial/S/RZLV\">$Rezolve AI(RZLV)$ </a> Great one&nbsp;","text":"$Rezolve AI(RZLV)$ Great one","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/479708775051880","isVote":1,"tweetType":1,"viewCount":3274,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":479630466035840,"gmtCreate":1758121250425,"gmtModify":1758121253782,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4194744888979592","idStr":"4194744888979592"},"themes":[],"title":"","htmlText":"<a href=\"https://ttm.financial/S/ADBE\">$Adobe(ADBE)$&nbsp;</a><v-v data-views=\"1\"></v-v> Great one","listText":"<a href=\"https://ttm.financial/S/ADBE\">$Adobe(ADBE)$&nbsp;</a><v-v data-views=\"1\"></v-v> Great one","text":"$Adobe(ADBE)$ Great one","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/479630466035840","isVote":1,"tweetType":1,"viewCount":2230,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":477659504501280,"gmtCreate":1757622391161,"gmtModify":1757622394036,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4194744888979592","idStr":"4194744888979592"},"themes":[],"title":"","htmlText":"<a href=\"https://ttm.financial/S/ADBE\">$Adobe(ADBE)$&nbsp;</a><v-v data-views=\"1\"></v-v> great earnings&nbsp;","listText":"<a href=\"https://ttm.financial/S/ADBE\">$Adobe(ADBE)$&nbsp;</a><v-v data-views=\"1\"></v-v> great earnings&nbsp;","text":"$Adobe(ADBE)$ great earnings","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/477659504501280","isVote":1,"tweetType":1,"viewCount":2074,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":477228880798616,"gmtCreate":1757517264020,"gmtModify":1757517267067,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4194744888979592","idStr":"4194744888979592"},"themes":[],"title":"","htmlText":"<a href=\"https://ttm.financial/S/CAN\">$Canaan Inc.(CAN)$&nbsp;</a><v-v data-views=\"1\"></v-v> no need to explain&nbsp;","listText":"<a href=\"https://ttm.financial/S/CAN\">$Canaan Inc.(CAN)$&nbsp;</a><v-v data-views=\"1\"></v-v> no need to explain&nbsp;","text":"$Canaan Inc.(CAN)$ no need to explain","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/477228880798616","isVote":1,"tweetType":1,"viewCount":2518,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"4194744888979592","idStr":"4194744888979592"},"content":"anyone bought on this day??? must have been happy 😁","text":"anyone bought on this day??? must have been happy 😁","html":"anyone bought on this day??? must have been happy 😁"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":474705077416112,"gmtCreate":1756930585669,"gmtModify":1756930587688,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4194744888979592","idStr":"4194744888979592"},"themes":[],"title":"","htmlText":"<a href=\"https://ttm.financial/S/GTLB\">$GitLab, Inc.(GTLB)$&nbsp;</a><v-v data-views=\"1\"></v-v>&nbsp;","listText":"<a href=\"https://ttm.financial/S/GTLB\">$GitLab, Inc.(GTLB)$&nbsp;</a><v-v data-views=\"1\"></v-v>&nbsp;","text":"$GitLab, Inc.(GTLB)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/474705077416112","isVote":1,"tweetType":1,"viewCount":2386,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":472898613486224,"gmtCreate":1756489456514,"gmtModify":1756489460164,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4194744888979592","idStr":"4194744888979592"},"themes":[],"title":"","htmlText":"<a href=\"https://ttm.financial/S/MRVL\">$Marvell Technology(MRVL)$&nbsp;</a><v-v data-views=\"1\"></v-v> I bought the dip... Hope bounce back soon","listText":"<a href=\"https://ttm.financial/S/MRVL\">$Marvell Technology(MRVL)$&nbsp;</a><v-v data-views=\"1\"></v-v> I bought the dip... Hope bounce back soon","text":"$Marvell Technology(MRVL)$ I bought the dip... Hope bounce back soon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/472898613486224","isVote":1,"tweetType":1,"viewCount":2510,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":472130794889912,"gmtCreate":1756302090447,"gmtModify":1756302640943,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4194744888979592","idStr":"4194744888979592"},"themes":[],"title":"","htmlText":"<a href=\"https://ttm.financial/S/TIGR\">$Tiger Brokers(TIGR)$ </a> as I said usually it beats everything in earnings but fall sharply.. so strange&nbsp;","listText":"<a href=\"https://ttm.financial/S/TIGR\">$Tiger Brokers(TIGR)$ </a> as I said usually it beats everything in earnings but fall sharply.. so strange&nbsp;","text":"$Tiger Brokers(TIGR)$ as I said usually it beats everything in earnings but fall sharply.. so strange","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/472130794889912","isVote":1,"tweetType":1,"viewCount":2125,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":472069504881168,"gmtCreate":1756283005242,"gmtModify":1756283008919,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4194744888979592","idStr":"4194744888979592"},"themes":[],"title":"","htmlText":"But stock won't move up...&nbsp;","listText":"But stock won't move up...&nbsp;","text":"But stock won't move up...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/472069504881168","repostId":"1152743109","repostType":2,"repost":{"id":"1152743109","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1756281725,"share":"https://ttm.financial/m/news/1152743109?lang=en_US&edition=fundamental","pubTime":"2025-08-27 16:02","market":"us","language":"en","title":"UP Fintech: Profit Surges Nearly 8x YoY, Client Assets Reach Record High of US$52.1 Billion","url":"https://stock-news.laohu8.com/highlight/detail?id=1152743109","media":"Tiger Newspress","summary":"New York, August 27, 2025 — UP Fintech Holding Limited (NASDAQ: TIGR) (\"UP Fintech\" or the \"Company\"), announced its unaudited financial results for the second quarter ended June 30, 2025. UP Fintech...","content":"<html><head></head><body><p><strong>New York, August 27, 2025</strong> — UP Fintech Holding Limited (NASDAQ: TIGR) (&#34;UP Fintech&#34; or the &#34;Company&#34;), announced its unaudited financial results for the second quarter ended June 30, 2025. UP Fintech achieved a total revenue of US$138.7 million in the second quarter, up 58.7% increase year-over-year (YoY), marking a record high. Non-GAAP net income attributable to UP Fintech shareholders surged to US$44.5 million, up 23.5% quarter-over-quarter (QoQ) and nearly 8 times growth YoY, also reaching a record level. The Company added 52,700 new accounts during the quarter, bringing the total number of global accounts to 2.58 million. Funded accounts increased by 39,800, pushing total funded clients up 21.4% YoY to 1.19 million. Business activity remained strong, with Q2 trading volume soaring 168.3% YoY to US$284 billion. Net asset inflows were US$3 billion, propelling total client assets to a record US$52.1 billion, up 13.5% QoQ and 36.3% YoY. </p><p><strong>UP Fintech&#39;s founder and CEO, Wu Tianhua</strong>, stated: &#34;In Q2, we delivered strong growth in both revenue and profit. Non-GAAP net profit surged eightfold YoY, hitting a record high. Remarkably, in just the first half of 2025, our operating profit, net income, and non-GAAP net income have already surpassed full-year 2024 levels, underscoring our solid profitability and operating leverage. At the same time, Tiger continues to gain trust from quality clients—average net asset inflows from new clients in Q2 exceeded US$20,000, a record high. In Hong Kong and Singapore, the figure reached about US$30,000, driving client assets in the two markets up approximately 50% and 20% QoQ, respectively. This lays a solid foundation for sustainable growth throughout the year.&#34;</p><p>He added, &#34;We continue to enhance Tiger Trade&#39;s all-in-one investment experience. In Q2, TigerAI introduced major upgrades including portfolio analysis, watchlist insights, and stock-specific assessments, as well as features like news tracing and preference memory for more efficient and reliable research support. We also launched new fundamental tools such as revenue &amp; expenditure breakdown and valuation track, to help investors better interpret company financials and valuations. On the options front, we introduced HK equity options quote requests and conditional market orders for single-leg options, further improving the trading experience and making investing more seamless.&#34;</p><p><strong>SG: Strengthening local leadership with enhanced product experience</strong></p><p><strong>HK: Maintaining high-growth momentum with Q2 trading up nearly 8x YoY</strong></p><p>In Singapore, the Company continues to lead the local tech brokerage market, with core business metrics climbing steadily. In Q2, total trading volume rose 113% YoY and 80% QoQ. Trading orders and commissions both reached record highs, up 62.2% and 69.4% YoY, respectively. Trading activity remained robust, with US stock and IPO trading volume jumping 117.8% and 130.8% YoY. On the product side, the Tiger BOSS Debit Card - Singapore&#39;s first debit card that rewards everyday spending with fractional shares, continued to enhance user experience. The card now supports spending at over 50 dining, transport, and retail merchants. Its fractional share rewards portfolio has expanded to include the US &#34;Magnificent Seven&#34; and popular ETFs such as VOO and QQQ, while the annual transaction limit was raised to S$100,000. In April, Tiger Brokers Singapore also entered a strategic talent partnership with Singapore Exchange (SGX) to co-develop specialized training programs aimed at nurturing the next generation of wealth management professionals, further strengthening ties with the local financial ecosystem.</p><p>In Hong Kong, momentum remained strong. Total trading volume in Q2 surged nearly 8x YoY and 122% QoQ, while total trading orders rose 218% YoY and 20% QoQ, underscoring continued trading vitality. By asset class, Hong Kong futures trading volume jumped 1.7x QoQ, US futures orders climbed 1.6x QoQ, and crypto trading volume grew nearly 65% QoQ, highlighting the benefits of a diversified trading mix. Cash management solution Tiger Vault continued to gain traction, with Hong Kong AUC soaring nearly 6x YoY and user numbers up 1.6x YoY. HKD money market fund trading volume and order counts surged 1.7x and 63% QoQ, respectively, reflecting both product stickiness and growth potential. Beyond trading, Tiger Brokers Hong Kong also actively engaged in local offline events and exhibitions during the quarter, providing investors with opportunities to learn, exchange ideas, and sharpen their financial literacy to better navigate market shifts and capture wealth opportunities.</p><p>In the US, TradeUP delivered solid growth in the second quarter. Average client assets (AUC) rose 33.2% QoQ, reflecting stronger user engagement and asset retention. Options trading surged 163.4% QoQ, underscoring the platform&#39;s growing appeal in derivatives. Overall, combined stock and options trading volume increased 15% QoQ, signaling steady momentum and laying a solid foundation for future revenue growth. On the primary market front, TradeUP participated in underwriting four US IPOs, including the high-profile deal CHAGEE, further highlighting its underwriting strength and brand influence in the US capital market.</p><p>In Australia, Tiger continued to gain traction among local investors. Q2 new account openings grew 62.6% QoQ, net deposit amount rose 28.8% QoQ, total client assets climbed 34% QoQ, and gross income increased 30.6% QoQ, extending robust momentum. Reflecting its platform value and user experience, Tiger Brokers Australia was awarded the 2025 Canstar &#34;Outstanding Value Award – Share Trading Platform in Active Investor&#34; during the quarter. In New Zealand, Tiger attracted more quality clients, with net deposit amount jumping 149.2% YoY and client assets up 42% QoQ. Trading accounts rose 59.6% YoY, while trading volume surged 56.3% QoQ and 119.7% YoY. US stock trading remained highly active, with stock orders up 112.6% YoY and options orders soaring 126.2% YoY, underscoring a strong local appetite for US securities.</p><p><strong>TigerAI usage surges 3x, Fundamental analysis tools upgraded</strong></p><p><strong>HK IPOs join Top Tier, Subscriptions hit 3-year high</strong></p><p>In Q2, UP Fintech recorded commission income of US$64.8 million, rising 90.1% YoY, while interest-related income climbed 30.4% YoY to US$61.4 million. The Company continues to enhance its all-in-one global investment experience on the Tiger Trade app. TigerAI, the industry&#39;s first AI-powered research assistant, saw its user base more than triple YoY in Q2, with total conversations rising over fourfold. Its capabilities were further upgraded with new functions* including AI portfolio analysis and AI watchlist analysis, offering personalized insights based on users&#39; holdings. TigerAI also introduced single-stock insights, consolidating key market-moving factors and trading summaries for timely decision-making. Meanwhile, Tiger Trade&#39;s fundamental analysis tools received major updates. Newly added features include Valuation Track to help investors quickly assess company valuation levels; revenue &amp; expenditure breakdown to visualize income and expense flows; and an Earnings Move section on stock pages to quantify expected market impact from earnings events. On the options trading front, enhancements included HK stock option quote requests*, stop-loss market orders, and conditional market orders for options. In addition, tiered commission pricing* was introduced for both the HK and US stock markets. With these product enrichments, average daily trading volume (DARTs) across asset classes surged 86.6% YoY in Q2. Night trading capabilities were also upgraded with new order types and amendments supported, driving Tiger&#39;s US stock night-trading DARTs to nearly 8x YoY growth.</p><p>Following the strong momentum in the first quarter, Tiger&#39;s IPO subscription business continued its explosive growth in Q2. The Hong Kong IPO business rose to the first-tier league, with cumulative subscription numbers reaching the highest level since 2022. During the quarter, the number of subscribers surged nearly fourfold QoQ, while subscription amounts rose 11% QoQ. In the US, Tiger underwrote high-profile IPO projects such as CHAGEE, which set new subscription records and achieved full client allocation on the platform.</p><p>The Company&#39;s wealth management business also recorded significant expansion in both assets and client base, driving sustained high-quality growth. Wealth management AUC grew 31.7% QoQ and 225% YoY, while the number of wealth clients increased 70.8% YoY, underscoring continuous breakthroughs in client coverage and asset accumulation. Cash management solution Tiger Vault maintained rapid growth, with total AUC across all markets more than doubling YoY (+223%) and up 31.8% QoQ; the number of clients rose 75.7% YoY and 11.3% QoQ. Hong Kong stood out in particular, with Tiger Vault AUC in the market up 42.2% QoQ and 576.6% YoY, while client numbers grew 25.5% QoQ and 157.6% YoY—reflecting robust demand for local cash management amid a Hong Kong market rebound. Structured note trading also showed strong momentum, with transaction volume up 66.5% QoQ and trading accounts up 76.9% QoQ, supported by the introduction of several new product types to meet diverse investment needs. The high-net-worth client base further expanded, with active clients holding over US$1 million in assets, increasing 34.9% QoQ, and their fund holdings rising 38.3% QoQ.</p><p>The Turnkey Asset Management Platform (TAMP) business continued to strengthen its leading position among financial advisors (FAs) and external asset managers (EAMs). By deepening institutional partnerships, the platform kept attracting new advisors and significantly expanded AUC, which rose 33.9% QoQ in Q2. The number of EAM-managed accounts increased 36% QoQ, while multi-asset classes—including securities and derivatives—maintained double-digit QoQ growth. In addition, the platform further broadened its structured note product offerings to meet diversified investment needs. Supported by the recently launched innovative &#34;Investment Co-Pilot&#34; collaborative sales model, advisor and research teams enhanced their coordination in structured product distribution. Meanwhile, the innovative client referral program also gained traction, with referred client accounts up 15% QoQ.</p><p><strong>Investment Banking: Expanded presence in Hong Kong and US IPOs</strong></p><p><strong>Ranked third among US-listed Chinese IPO underwriters, CHAGEE IPO sets 3-year subscription record</strong></p><p>UP Fintech&#39;s other revenues, encompassing services such as investment banking and Employee Stock Ownership Plan (ESOP), reached US$12.5 million. In Q2, the Company&#39;s investment banking division participated in the underwriting of 7 Hong Kong IPOs and 4 US IPOs, continuing to broaden its presence across markets. Notably, UP Fintech underwrote two of the top three US-listed Chinese IPOs by fundraising size during the quarter—CHAGEE and Yuanbao—ranking third among all underwriters of US-listed Chinese issuers. CHAGEE stood out as a blockbuster, attracting over 30,000 subscriptions on the Company&#39;s platform, the highest number for a US IPO in nearly three years. All platform users who subscribed received allocations, with allotment rates exceeding industry averages.</p><p>On the ESOP front, the Company&#39;s UponeShare service added 30 new clients in Q2, bringing its total to 663 enterprises served. SaaS revenue from the employee option management platform grew 37.6% YoY, with H1 profit reaching 2.8x the full-year 2024 profit. Since its spin-off, the brand has leveraged refined operations to effectively control costs and scale profitability.</p><p>Tiger Enterprise Account onboarded 9 corporate clients in Q2—including CaoCao Mobility and Geekplus—bringing the total of corporate accounts to 487. The platform partnered with Leapmotor to livestream its &#34;Better and More Advanced&#34; event themed around &#34;A Better Home for Global Youth&#34;, showcasing a series of product upgrades, and broadcast the launch of the Leapmotor C16. Enterprise Accounts also livestreamed Xiaomi&#39;s 15th Anniversary Strategic Launch, helping users gain first-hand access to new products across Xiaomi&#39;s four core sectors: smartphones, chips, smart hardware, and electric vehicles.</p><p><em>*Available in certain markets</em></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>UP Fintech: Profit Surges Nearly 8x YoY, Client Assets Reach Record High of US$52.1 Billion</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUP Fintech: Profit Surges Nearly 8x YoY, Client Assets Reach Record High of US$52.1 Billion\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2025-08-27 16:02</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><strong>New York, August 27, 2025</strong> — UP Fintech Holding Limited (NASDAQ: TIGR) (&#34;UP Fintech&#34; or the &#34;Company&#34;), announced its unaudited financial results for the second quarter ended June 30, 2025. UP Fintech achieved a total revenue of US$138.7 million in the second quarter, up 58.7% increase year-over-year (YoY), marking a record high. Non-GAAP net income attributable to UP Fintech shareholders surged to US$44.5 million, up 23.5% quarter-over-quarter (QoQ) and nearly 8 times growth YoY, also reaching a record level. The Company added 52,700 new accounts during the quarter, bringing the total number of global accounts to 2.58 million. Funded accounts increased by 39,800, pushing total funded clients up 21.4% YoY to 1.19 million. Business activity remained strong, with Q2 trading volume soaring 168.3% YoY to US$284 billion. Net asset inflows were US$3 billion, propelling total client assets to a record US$52.1 billion, up 13.5% QoQ and 36.3% YoY. </p><p><strong>UP Fintech&#39;s founder and CEO, Wu Tianhua</strong>, stated: &#34;In Q2, we delivered strong growth in both revenue and profit. Non-GAAP net profit surged eightfold YoY, hitting a record high. Remarkably, in just the first half of 2025, our operating profit, net income, and non-GAAP net income have already surpassed full-year 2024 levels, underscoring our solid profitability and operating leverage. At the same time, Tiger continues to gain trust from quality clients—average net asset inflows from new clients in Q2 exceeded US$20,000, a record high. In Hong Kong and Singapore, the figure reached about US$30,000, driving client assets in the two markets up approximately 50% and 20% QoQ, respectively. This lays a solid foundation for sustainable growth throughout the year.&#34;</p><p>He added, &#34;We continue to enhance Tiger Trade&#39;s all-in-one investment experience. In Q2, TigerAI introduced major upgrades including portfolio analysis, watchlist insights, and stock-specific assessments, as well as features like news tracing and preference memory for more efficient and reliable research support. We also launched new fundamental tools such as revenue &amp; expenditure breakdown and valuation track, to help investors better interpret company financials and valuations. On the options front, we introduced HK equity options quote requests and conditional market orders for single-leg options, further improving the trading experience and making investing more seamless.&#34;</p><p><strong>SG: Strengthening local leadership with enhanced product experience</strong></p><p><strong>HK: Maintaining high-growth momentum with Q2 trading up nearly 8x YoY</strong></p><p>In Singapore, the Company continues to lead the local tech brokerage market, with core business metrics climbing steadily. In Q2, total trading volume rose 113% YoY and 80% QoQ. Trading orders and commissions both reached record highs, up 62.2% and 69.4% YoY, respectively. Trading activity remained robust, with US stock and IPO trading volume jumping 117.8% and 130.8% YoY. On the product side, the Tiger BOSS Debit Card - Singapore&#39;s first debit card that rewards everyday spending with fractional shares, continued to enhance user experience. The card now supports spending at over 50 dining, transport, and retail merchants. Its fractional share rewards portfolio has expanded to include the US &#34;Magnificent Seven&#34; and popular ETFs such as VOO and QQQ, while the annual transaction limit was raised to S$100,000. In April, Tiger Brokers Singapore also entered a strategic talent partnership with Singapore Exchange (SGX) to co-develop specialized training programs aimed at nurturing the next generation of wealth management professionals, further strengthening ties with the local financial ecosystem.</p><p>In Hong Kong, momentum remained strong. Total trading volume in Q2 surged nearly 8x YoY and 122% QoQ, while total trading orders rose 218% YoY and 20% QoQ, underscoring continued trading vitality. By asset class, Hong Kong futures trading volume jumped 1.7x QoQ, US futures orders climbed 1.6x QoQ, and crypto trading volume grew nearly 65% QoQ, highlighting the benefits of a diversified trading mix. Cash management solution Tiger Vault continued to gain traction, with Hong Kong AUC soaring nearly 6x YoY and user numbers up 1.6x YoY. HKD money market fund trading volume and order counts surged 1.7x and 63% QoQ, respectively, reflecting both product stickiness and growth potential. Beyond trading, Tiger Brokers Hong Kong also actively engaged in local offline events and exhibitions during the quarter, providing investors with opportunities to learn, exchange ideas, and sharpen their financial literacy to better navigate market shifts and capture wealth opportunities.</p><p>In the US, TradeUP delivered solid growth in the second quarter. Average client assets (AUC) rose 33.2% QoQ, reflecting stronger user engagement and asset retention. Options trading surged 163.4% QoQ, underscoring the platform&#39;s growing appeal in derivatives. Overall, combined stock and options trading volume increased 15% QoQ, signaling steady momentum and laying a solid foundation for future revenue growth. On the primary market front, TradeUP participated in underwriting four US IPOs, including the high-profile deal CHAGEE, further highlighting its underwriting strength and brand influence in the US capital market.</p><p>In Australia, Tiger continued to gain traction among local investors. Q2 new account openings grew 62.6% QoQ, net deposit amount rose 28.8% QoQ, total client assets climbed 34% QoQ, and gross income increased 30.6% QoQ, extending robust momentum. Reflecting its platform value and user experience, Tiger Brokers Australia was awarded the 2025 Canstar &#34;Outstanding Value Award – Share Trading Platform in Active Investor&#34; during the quarter. In New Zealand, Tiger attracted more quality clients, with net deposit amount jumping 149.2% YoY and client assets up 42% QoQ. Trading accounts rose 59.6% YoY, while trading volume surged 56.3% QoQ and 119.7% YoY. US stock trading remained highly active, with stock orders up 112.6% YoY and options orders soaring 126.2% YoY, underscoring a strong local appetite for US securities.</p><p><strong>TigerAI usage surges 3x, Fundamental analysis tools upgraded</strong></p><p><strong>HK IPOs join Top Tier, Subscriptions hit 3-year high</strong></p><p>In Q2, UP Fintech recorded commission income of US$64.8 million, rising 90.1% YoY, while interest-related income climbed 30.4% YoY to US$61.4 million. The Company continues to enhance its all-in-one global investment experience on the Tiger Trade app. TigerAI, the industry&#39;s first AI-powered research assistant, saw its user base more than triple YoY in Q2, with total conversations rising over fourfold. Its capabilities were further upgraded with new functions* including AI portfolio analysis and AI watchlist analysis, offering personalized insights based on users&#39; holdings. TigerAI also introduced single-stock insights, consolidating key market-moving factors and trading summaries for timely decision-making. Meanwhile, Tiger Trade&#39;s fundamental analysis tools received major updates. Newly added features include Valuation Track to help investors quickly assess company valuation levels; revenue &amp; expenditure breakdown to visualize income and expense flows; and an Earnings Move section on stock pages to quantify expected market impact from earnings events. On the options trading front, enhancements included HK stock option quote requests*, stop-loss market orders, and conditional market orders for options. In addition, tiered commission pricing* was introduced for both the HK and US stock markets. With these product enrichments, average daily trading volume (DARTs) across asset classes surged 86.6% YoY in Q2. Night trading capabilities were also upgraded with new order types and amendments supported, driving Tiger&#39;s US stock night-trading DARTs to nearly 8x YoY growth.</p><p>Following the strong momentum in the first quarter, Tiger&#39;s IPO subscription business continued its explosive growth in Q2. The Hong Kong IPO business rose to the first-tier league, with cumulative subscription numbers reaching the highest level since 2022. During the quarter, the number of subscribers surged nearly fourfold QoQ, while subscription amounts rose 11% QoQ. In the US, Tiger underwrote high-profile IPO projects such as CHAGEE, which set new subscription records and achieved full client allocation on the platform.</p><p>The Company&#39;s wealth management business also recorded significant expansion in both assets and client base, driving sustained high-quality growth. Wealth management AUC grew 31.7% QoQ and 225% YoY, while the number of wealth clients increased 70.8% YoY, underscoring continuous breakthroughs in client coverage and asset accumulation. Cash management solution Tiger Vault maintained rapid growth, with total AUC across all markets more than doubling YoY (+223%) and up 31.8% QoQ; the number of clients rose 75.7% YoY and 11.3% QoQ. Hong Kong stood out in particular, with Tiger Vault AUC in the market up 42.2% QoQ and 576.6% YoY, while client numbers grew 25.5% QoQ and 157.6% YoY—reflecting robust demand for local cash management amid a Hong Kong market rebound. Structured note trading also showed strong momentum, with transaction volume up 66.5% QoQ and trading accounts up 76.9% QoQ, supported by the introduction of several new product types to meet diverse investment needs. The high-net-worth client base further expanded, with active clients holding over US$1 million in assets, increasing 34.9% QoQ, and their fund holdings rising 38.3% QoQ.</p><p>The Turnkey Asset Management Platform (TAMP) business continued to strengthen its leading position among financial advisors (FAs) and external asset managers (EAMs). By deepening institutional partnerships, the platform kept attracting new advisors and significantly expanded AUC, which rose 33.9% QoQ in Q2. The number of EAM-managed accounts increased 36% QoQ, while multi-asset classes—including securities and derivatives—maintained double-digit QoQ growth. In addition, the platform further broadened its structured note product offerings to meet diversified investment needs. Supported by the recently launched innovative &#34;Investment Co-Pilot&#34; collaborative sales model, advisor and research teams enhanced their coordination in structured product distribution. Meanwhile, the innovative client referral program also gained traction, with referred client accounts up 15% QoQ.</p><p><strong>Investment Banking: Expanded presence in Hong Kong and US IPOs</strong></p><p><strong>Ranked third among US-listed Chinese IPO underwriters, CHAGEE IPO sets 3-year subscription record</strong></p><p>UP Fintech&#39;s other revenues, encompassing services such as investment banking and Employee Stock Ownership Plan (ESOP), reached US$12.5 million. In Q2, the Company&#39;s investment banking division participated in the underwriting of 7 Hong Kong IPOs and 4 US IPOs, continuing to broaden its presence across markets. Notably, UP Fintech underwrote two of the top three US-listed Chinese IPOs by fundraising size during the quarter—CHAGEE and Yuanbao—ranking third among all underwriters of US-listed Chinese issuers. CHAGEE stood out as a blockbuster, attracting over 30,000 subscriptions on the Company&#39;s platform, the highest number for a US IPO in nearly three years. All platform users who subscribed received allocations, with allotment rates exceeding industry averages.</p><p>On the ESOP front, the Company&#39;s UponeShare service added 30 new clients in Q2, bringing its total to 663 enterprises served. SaaS revenue from the employee option management platform grew 37.6% YoY, with H1 profit reaching 2.8x the full-year 2024 profit. Since its spin-off, the brand has leveraged refined operations to effectively control costs and scale profitability.</p><p>Tiger Enterprise Account onboarded 9 corporate clients in Q2—including CaoCao Mobility and Geekplus—bringing the total of corporate accounts to 487. The platform partnered with Leapmotor to livestream its &#34;Better and More Advanced&#34; event themed around &#34;A Better Home for Global Youth&#34;, showcasing a series of product upgrades, and broadcast the launch of the Leapmotor C16. Enterprise Accounts also livestreamed Xiaomi&#39;s 15th Anniversary Strategic Launch, helping users gain first-hand access to new products across Xiaomi&#39;s four core sectors: smartphones, chips, smart hardware, and electric vehicles.</p><p><em>*Available in certain markets</em></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TIGR":"老虎证券"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1152743109","content_text":"New York, August 27, 2025 — UP Fintech Holding Limited (NASDAQ: TIGR) (\"UP Fintech\" or the \"Company\"), announced its unaudited financial results for the second quarter ended June 30, 2025. UP Fintech achieved a total revenue of US$138.7 million in the second quarter, up 58.7% increase year-over-year (YoY), marking a record high. Non-GAAP net income attributable to UP Fintech shareholders surged to US$44.5 million, up 23.5% quarter-over-quarter (QoQ) and nearly 8 times growth YoY, also reaching a record level. The Company added 52,700 new accounts during the quarter, bringing the total number of global accounts to 2.58 million. Funded accounts increased by 39,800, pushing total funded clients up 21.4% YoY to 1.19 million. Business activity remained strong, with Q2 trading volume soaring 168.3% YoY to US$284 billion. Net asset inflows were US$3 billion, propelling total client assets to a record US$52.1 billion, up 13.5% QoQ and 36.3% YoY. UP Fintech's founder and CEO, Wu Tianhua, stated: \"In Q2, we delivered strong growth in both revenue and profit. Non-GAAP net profit surged eightfold YoY, hitting a record high. Remarkably, in just the first half of 2025, our operating profit, net income, and non-GAAP net income have already surpassed full-year 2024 levels, underscoring our solid profitability and operating leverage. At the same time, Tiger continues to gain trust from quality clients—average net asset inflows from new clients in Q2 exceeded US$20,000, a record high. In Hong Kong and Singapore, the figure reached about US$30,000, driving client assets in the two markets up approximately 50% and 20% QoQ, respectively. This lays a solid foundation for sustainable growth throughout the year.\"He added, \"We continue to enhance Tiger Trade's all-in-one investment experience. In Q2, TigerAI introduced major upgrades including portfolio analysis, watchlist insights, and stock-specific assessments, as well as features like news tracing and preference memory for more efficient and reliable research support. We also launched new fundamental tools such as revenue & expenditure breakdown and valuation track, to help investors better interpret company financials and valuations. On the options front, we introduced HK equity options quote requests and conditional market orders for single-leg options, further improving the trading experience and making investing more seamless.\"SG: Strengthening local leadership with enhanced product experienceHK: Maintaining high-growth momentum with Q2 trading up nearly 8x YoYIn Singapore, the Company continues to lead the local tech brokerage market, with core business metrics climbing steadily. In Q2, total trading volume rose 113% YoY and 80% QoQ. Trading orders and commissions both reached record highs, up 62.2% and 69.4% YoY, respectively. Trading activity remained robust, with US stock and IPO trading volume jumping 117.8% and 130.8% YoY. On the product side, the Tiger BOSS Debit Card - Singapore's first debit card that rewards everyday spending with fractional shares, continued to enhance user experience. The card now supports spending at over 50 dining, transport, and retail merchants. Its fractional share rewards portfolio has expanded to include the US \"Magnificent Seven\" and popular ETFs such as VOO and QQQ, while the annual transaction limit was raised to S$100,000. In April, Tiger Brokers Singapore also entered a strategic talent partnership with Singapore Exchange (SGX) to co-develop specialized training programs aimed at nurturing the next generation of wealth management professionals, further strengthening ties with the local financial ecosystem.In Hong Kong, momentum remained strong. Total trading volume in Q2 surged nearly 8x YoY and 122% QoQ, while total trading orders rose 218% YoY and 20% QoQ, underscoring continued trading vitality. By asset class, Hong Kong futures trading volume jumped 1.7x QoQ, US futures orders climbed 1.6x QoQ, and crypto trading volume grew nearly 65% QoQ, highlighting the benefits of a diversified trading mix. Cash management solution Tiger Vault continued to gain traction, with Hong Kong AUC soaring nearly 6x YoY and user numbers up 1.6x YoY. HKD money market fund trading volume and order counts surged 1.7x and 63% QoQ, respectively, reflecting both product stickiness and growth potential. Beyond trading, Tiger Brokers Hong Kong also actively engaged in local offline events and exhibitions during the quarter, providing investors with opportunities to learn, exchange ideas, and sharpen their financial literacy to better navigate market shifts and capture wealth opportunities.In the US, TradeUP delivered solid growth in the second quarter. Average client assets (AUC) rose 33.2% QoQ, reflecting stronger user engagement and asset retention. Options trading surged 163.4% QoQ, underscoring the platform's growing appeal in derivatives. Overall, combined stock and options trading volume increased 15% QoQ, signaling steady momentum and laying a solid foundation for future revenue growth. On the primary market front, TradeUP participated in underwriting four US IPOs, including the high-profile deal CHAGEE, further highlighting its underwriting strength and brand influence in the US capital market.In Australia, Tiger continued to gain traction among local investors. Q2 new account openings grew 62.6% QoQ, net deposit amount rose 28.8% QoQ, total client assets climbed 34% QoQ, and gross income increased 30.6% QoQ, extending robust momentum. Reflecting its platform value and user experience, Tiger Brokers Australia was awarded the 2025 Canstar \"Outstanding Value Award – Share Trading Platform in Active Investor\" during the quarter. In New Zealand, Tiger attracted more quality clients, with net deposit amount jumping 149.2% YoY and client assets up 42% QoQ. Trading accounts rose 59.6% YoY, while trading volume surged 56.3% QoQ and 119.7% YoY. US stock trading remained highly active, with stock orders up 112.6% YoY and options orders soaring 126.2% YoY, underscoring a strong local appetite for US securities.TigerAI usage surges 3x, Fundamental analysis tools upgradedHK IPOs join Top Tier, Subscriptions hit 3-year highIn Q2, UP Fintech recorded commission income of US$64.8 million, rising 90.1% YoY, while interest-related income climbed 30.4% YoY to US$61.4 million. The Company continues to enhance its all-in-one global investment experience on the Tiger Trade app. TigerAI, the industry's first AI-powered research assistant, saw its user base more than triple YoY in Q2, with total conversations rising over fourfold. Its capabilities were further upgraded with new functions* including AI portfolio analysis and AI watchlist analysis, offering personalized insights based on users' holdings. TigerAI also introduced single-stock insights, consolidating key market-moving factors and trading summaries for timely decision-making. Meanwhile, Tiger Trade's fundamental analysis tools received major updates. Newly added features include Valuation Track to help investors quickly assess company valuation levels; revenue & expenditure breakdown to visualize income and expense flows; and an Earnings Move section on stock pages to quantify expected market impact from earnings events. On the options trading front, enhancements included HK stock option quote requests*, stop-loss market orders, and conditional market orders for options. In addition, tiered commission pricing* was introduced for both the HK and US stock markets. With these product enrichments, average daily trading volume (DARTs) across asset classes surged 86.6% YoY in Q2. Night trading capabilities were also upgraded with new order types and amendments supported, driving Tiger's US stock night-trading DARTs to nearly 8x YoY growth.Following the strong momentum in the first quarter, Tiger's IPO subscription business continued its explosive growth in Q2. The Hong Kong IPO business rose to the first-tier league, with cumulative subscription numbers reaching the highest level since 2022. During the quarter, the number of subscribers surged nearly fourfold QoQ, while subscription amounts rose 11% QoQ. In the US, Tiger underwrote high-profile IPO projects such as CHAGEE, which set new subscription records and achieved full client allocation on the platform.The Company's wealth management business also recorded significant expansion in both assets and client base, driving sustained high-quality growth. Wealth management AUC grew 31.7% QoQ and 225% YoY, while the number of wealth clients increased 70.8% YoY, underscoring continuous breakthroughs in client coverage and asset accumulation. Cash management solution Tiger Vault maintained rapid growth, with total AUC across all markets more than doubling YoY (+223%) and up 31.8% QoQ; the number of clients rose 75.7% YoY and 11.3% QoQ. Hong Kong stood out in particular, with Tiger Vault AUC in the market up 42.2% QoQ and 576.6% YoY, while client numbers grew 25.5% QoQ and 157.6% YoY—reflecting robust demand for local cash management amid a Hong Kong market rebound. Structured note trading also showed strong momentum, with transaction volume up 66.5% QoQ and trading accounts up 76.9% QoQ, supported by the introduction of several new product types to meet diverse investment needs. The high-net-worth client base further expanded, with active clients holding over US$1 million in assets, increasing 34.9% QoQ, and their fund holdings rising 38.3% QoQ.The Turnkey Asset Management Platform (TAMP) business continued to strengthen its leading position among financial advisors (FAs) and external asset managers (EAMs). By deepening institutional partnerships, the platform kept attracting new advisors and significantly expanded AUC, which rose 33.9% QoQ in Q2. The number of EAM-managed accounts increased 36% QoQ, while multi-asset classes—including securities and derivatives—maintained double-digit QoQ growth. In addition, the platform further broadened its structured note product offerings to meet diversified investment needs. Supported by the recently launched innovative \"Investment Co-Pilot\" collaborative sales model, advisor and research teams enhanced their coordination in structured product distribution. Meanwhile, the innovative client referral program also gained traction, with referred client accounts up 15% QoQ.Investment Banking: Expanded presence in Hong Kong and US IPOsRanked third among US-listed Chinese IPO underwriters, CHAGEE IPO sets 3-year subscription recordUP Fintech's other revenues, encompassing services such as investment banking and Employee Stock Ownership Plan (ESOP), reached US$12.5 million. In Q2, the Company's investment banking division participated in the underwriting of 7 Hong Kong IPOs and 4 US IPOs, continuing to broaden its presence across markets. Notably, UP Fintech underwrote two of the top three US-listed Chinese IPOs by fundraising size during the quarter—CHAGEE and Yuanbao—ranking third among all underwriters of US-listed Chinese issuers. CHAGEE stood out as a blockbuster, attracting over 30,000 subscriptions on the Company's platform, the highest number for a US IPO in nearly three years. All platform users who subscribed received allocations, with allotment rates exceeding industry averages.On the ESOP front, the Company's UponeShare service added 30 new clients in Q2, bringing its total to 663 enterprises served. SaaS revenue from the employee option management platform grew 37.6% YoY, with H1 profit reaching 2.8x the full-year 2024 profit. Since its spin-off, the brand has leveraged refined operations to effectively control costs and scale profitability.Tiger Enterprise Account onboarded 9 corporate clients in Q2—including CaoCao Mobility and Geekplus—bringing the total of corporate accounts to 487. The platform partnered with Leapmotor to livestream its \"Better and More Advanced\" event themed around \"A Better Home for Global Youth\", showcasing a series of product upgrades, and broadcast the launch of the Leapmotor C16. Enterprise Accounts also livestreamed Xiaomi's 15th Anniversary Strategic Launch, helping users gain first-hand access to new products across Xiaomi's four core sectors: smartphones, chips, smart hardware, and electric vehicles.*Available in certain markets","news_type":1,"symbols_score_info":{"TIGR":1.1}},"isVote":1,"tweetType":1,"viewCount":2145,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":477228880798616,"gmtCreate":1757517264020,"gmtModify":1757517267067,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4194744888979592","authorIdStr":"4194744888979592"},"themes":[],"title":"","htmlText":"<a href=\"https://ttm.financial/S/CAN\">$Canaan Inc.(CAN)$&nbsp;</a><v-v data-views=\"1\"></v-v> no need to explain&nbsp;","listText":"<a href=\"https://ttm.financial/S/CAN\">$Canaan Inc.(CAN)$&nbsp;</a><v-v data-views=\"1\"></v-v> no need to explain&nbsp;","text":"$Canaan Inc.(CAN)$ no need to explain","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/477228880798616","isVote":1,"tweetType":1,"viewCount":2518,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"idStr":"4194744888979592","authorIdStr":"4194744888979592"},"content":"anyone bought on this day??? must have been happy 😁","text":"anyone bought on this day??? must have been happy 😁","html":"anyone bought on this day??? must have been happy 😁"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":490138207240600,"gmtCreate":1760685927978,"gmtModify":1760685931329,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4194744888979592","authorIdStr":"4194744888979592"},"themes":[],"title":"","htmlText":"<a href=\"https://ttm.financial/S/UUUU\">$Energy Fuels(UUUU)$ </a> why it's falling like anything compared to MP even though it's just due to overall market sentiment&nbsp;","listText":"<a href=\"https://ttm.financial/S/UUUU\">$Energy Fuels(UUUU)$ </a> why it's falling like anything compared to MP even though it's just due to overall market sentiment&nbsp;","text":"$Energy Fuels(UUUU)$ why it's falling like anything compared to MP even though it's just due to overall market sentiment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":3,"link":"https://ttm.financial/post/490138207240600","isVote":1,"tweetType":1,"viewCount":6016,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":496385766167432,"gmtCreate":1762210386192,"gmtModify":1762210389578,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4194744888979592","authorIdStr":"4194744888979592"},"themes":[],"title":"","htmlText":"<a href=\"https://ttm.financial/S/UUUU\">$Energy Fuels(UUUU)$ </a> Bullish after so much sell off eand earnings revenue beat","listText":"<a href=\"https://ttm.financial/S/UUUU\">$Energy Fuels(UUUU)$ </a> Bullish after so much sell off eand earnings revenue beat","text":"$Energy Fuels(UUUU)$ Bullish after so much sell off eand earnings revenue beat","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/496385766167432","isVote":1,"tweetType":1,"viewCount":3366,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":470060122374184,"gmtCreate":1755798130376,"gmtModify":1755798133280,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4194744888979592","authorIdStr":"4194744888979592"},"themes":[],"title":"","htmlText":"<a href=\"https://ttm.financial/S/UUUU\">$Energy Fuels(UUUU)$ </a>Time to skyrocket!!!!!","listText":"<a href=\"https://ttm.financial/S/UUUU\">$Energy Fuels(UUUU)$ </a>Time to skyrocket!!!!!","text":"$Energy Fuels(UUUU)$ Time to skyrocket!!!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/470060122374184","isVote":1,"tweetType":1,"viewCount":1863,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"idStr":"4194744888979592","authorIdStr":"4194744888979592"},"content":"whoever bought on this day must be Happ 😆","text":"whoever bought on this day must be Happ 😆","html":"whoever bought on this day must be Happ 😆"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":456734643822648,"gmtCreate":1752516068184,"gmtModify":1752516081586,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4194744888979592","authorIdStr":"4194744888979592"},"themes":[],"title":"","htmlText":"<a href=\"https://ttm.financial/S/MU\">$Micron Technology(MU)$&nbsp;</a> time to sell or hold after Edgewater research warning? The note from them doesn't contain any details but still the stock falling&nbsp;","listText":"<a href=\"https://ttm.financial/S/MU\">$Micron Technology(MU)$&nbsp;</a> time to sell or hold after Edgewater research warning? The note from them doesn't contain any details but still the stock falling&nbsp;","text":"$Micron Technology(MU)$ time to sell or hold after Edgewater research warning? The note from them doesn't contain any details but still the stock falling","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":2,"link":"https://ttm.financial/post/456734643822648","isVote":1,"tweetType":1,"viewCount":1947,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":611632896008424,"gmtCreate":1790343955126,"gmtModify":1790343958329,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4194744888979592","authorIdStr":"4194744888979592"},"themes":[],"title":"","htmlText":"Bullish $sndk $dram","listText":"Bullish $sndk $dram","text":"Bullish $sndk $dram","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/611632896008424","repostId":"1117875090","repostType":2,"repost":{"id":"1117875090","kind":"news","weMediaInfo":{"introduction":"Global Stock News First-Time Broadcast","home_visible":1,"media_name":"Stock News","id":"1036600163","head_image":"https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a"},"pubTimestamp":1790317231,"share":"https://ttm.financial/m/news/1117875090?lang=en_US&edition=fundamental","pubTime":"2026-09-25 14:20","market":"us","language":"en","title":"Dell Executive: \"Agentic AI\" Is Different This Time, Shortages of Key Components (Mainly Memory and HDDs) Could Last More Than 5 Years","url":"https://stock-news.laohu8.com/highlight/detail?id=1117875090","media":"Stock News","summary":"Agentic AI is reshaping the underlying logic of traditional hardware cycles and could turn infrastructure supply tightness from a short-term fluctuation into a structural constraint lasting for...","content":"<p>Agentic AI is reshaping the underlying logic of traditional hardware cycles and could turn infrastructure supply tightness from a short-term fluctuation into a structural constraint lasting for years.<br><br><b>Dell Technologies</b> (<b>DELL.US</b>) Chief Operating Officer Jeff Clarke said during a recent meeting with Morgan Stanley that agentic AI is markedly different from past hardware cycles. If related AI workloads continue to grow, shortages of key components could persist for more than five years, with memory and HDDs being the areas he is most concerned about at present. Compared with past hardware supply tightness that typically lasted several quarters, this round of demand growth could bring a longer-term supply-demand gap. Morgan Stanley reassessed the current AI infrastructure cycle after the meeting. Analysts noted that the eight hardware boom-and-bust cycles over the past 40 years mostly revolved around equipment replacement and fluctuations in capital expenditure, while the key variable in this cycle is whether AI workloads can continue to expand. In other words, what the Dell executive emphasized is not an ordinary hardware restocking cycle, but a long-term infrastructure expansion potentially driven by growth in agentic AI demand.<br><br><b>Agentic AI Reshapes the Logic of Infrastructure Demand</b><br><br>The report noted that Clarke believes this AI cycle is fundamentally different from the hardware booms and busts of past decades. The previous eight hardware cycles—covering categories such as servers, storage and PCs—were mainly driven by changes in device penetration and replacement cycles, with demand rising and falling along with replacement rhythms, but the hardware market itself did not undergo substantial expansion in scale. Take PC demand during the pandemic as an example: the human-to-device ratio briefly increased, but as society reopened and returned to normal, PC demand also fell back, and the total market size before and after the pandemic did not change in essence. The logic of agentic AI is different. Clarke believes agentic AI is decoupling cognitive output from human input, allowing enterprises to complete more work without adding staff, thereby generating productivity gains of 10x or even 100x. In this process, AI is no longer merely assisting people in completing tasks, but itself becomes a \"productivity tool\" that continuously consumes computing resources. Productivity gains will push more enterprises, regardless of size, to begin AI transformation, thereby continuously expanding the infrastructure TAM. Dell expects that by 2030, data center computing power will add 200 gigawatts, ZettaFLOPS computing power will grow 5x to 830, and the growth of inference tokens will be exponential. The number of tokens required for agentic AI to complete each unit of work is far higher than that of basic chatbots, and Clarke expects inference token generation to grow 87x by 2030.<br><br><b>Cloud and On-Premises Deployment Are Not a Zero-Sum Game</b><br><br>A core question in the market about this round of the AI infrastructure cycle is: will rapidly growing token demand ultimately flow mainly to cloud computing platforms rather than on-premises infrastructure? Clarke's judgment is that agentic AI workloads will take a hybrid deployment form. Enterprises will continuously adjust where inference workloads run between public cloud and on-premises environments based on security and cost efficiency. Clarke used Dell itself as an example: the company will deploy content-related workloads in the public cloud, but will not move proprietary source code or telemetry data out of its own facilities. This means there is no single deployment path for AI workloads, and on-premises infrastructure will still take on a portion of continuously growing computing demand. Under this framework, the exponential growth of token consumption does not necessarily mean that cloud and on-premises infrastructure must form a seesaw relationship. Clarke believes the spread of open-weight models will further drive on-premises infrastructure investment, because enterprises can optimize model output for cost in local environments.<br><br><b>Server Shipment Declines Do Not Change the Long-Term Demand Growth Logic</b><br><br>Traditional server shipments are still declining year over year, which appears to contradict the explosive growth of inference tokens. Clarke's explanation is that the substantial improvement in server performance density is pushing down equipment shipment volumes. Dell's 17th/18th generation servers can replace as many as 13 14th generation traditional servers, so in the short term, even if server shipments decline, the value and carrying capacity per unit are still increasing. As data centers gradually complete the architectural restructuring centered on accelerated computing, and the spread of agentic AI further drives demand for CPU servers, server shipments are ultimately still expected to resume growth. Clarke even said that if inference tokens truly achieve 87x growth within five years, traditional server shipments could also change exponentially. Storage will likewise be continuously driven by agentic AI. Every operation performed by agentic AI, including memory retention and artifact generation, will generate continuous data storage demand; with the large-scale application of KV Cache, storage capacity demand will further increase.<br><br><b>Supply Shortages May Become a Structural Constraint of More Than Five Years</b><br><br>Compared with macroeconomic conditions, geopolitical conflicts, overbuilding of data centers and power shortages, Clarke ranks supply issues as his greatest current concern, and used \"We're in neverland\" to describe the current supply environment. Morgan Stanley pointed out that commodity supply cycles historically typically lasted 2 to 4 quarters, mainly affected by booms and busts in hardware replacement cycles and supply-side decisions. But Clarke believes that if one accepts the growth logic of gigawatts and inference tokens, then key components such as memory and HDDs are no longer merely in an ordinary short-term cycle. Therefore, Dell is currently operating on the premise that key components may face sustained multi-year shortages, with particular attention to memory and HDDs. In other words, the core risk of this round of supply tightness is not short-term insufficient supply, but that after continuous expansion of AI demand, the supply side may need years to catch up. Clarke also said that Dell is superior to peers in supply management, and this advantage is being converted into share gains in multiple segments such as servers, storage and PCs.<br><br><b>Behind Margin Expansion Is a Change in the Supply-Demand Structure</b><br><br>Persistent tightness in key components is also changing the pricing environment of the infrastructure industry. Morgan Stanley had previously attributed part of the gross margin expansion in the server and storage businesses to \"profit stacking,\" that is, while costs of components such as memory rise, vendors further add profit margin. Clarke gave a different explanation. He acknowledged that server and storage margins for similar products are indeed expanding, but believes there are two structural factors behind it: first, when component supply is limited, enterprises will prioritize allocating scarce resources to the highest-margin products; second, as the infrastructure market continues to expand, pressure on enterprises to compete for incremental customers declines, and they do not need to lower prices to win new customers. Therefore, the improvement in margins is not entirely opportunistic gains brought by short-term supply-demand mismatch, but also reflects a change in the industry pricing benchmark after continuous expansion of infrastructure demand. If the workload growth brought by agentic AI can continue to materialize, the core variable of the AI infrastructure cycle will shift from \"equipment replacement\" to \"new demand.\" This means demand expansion for computing power, servers and storage may last longer, and supply constraints for key components such as memory and HDDs may also shift from short-term cyclical fluctuations to a multi-year structural issue.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Dell Executive: \"Agentic AI\" Is Different This Time, Shortages of Key Components (Mainly Memory and HDDs) Could Last More Than 5 Years</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDell Executive: \"Agentic AI\" Is Different This Time, Shortages of Key Components (Mainly Memory and HDDs) Could Last More Than 5 Years\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036600163\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock News </p>\n<p class=\"h-time\">2026-09-25 14:20</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Agentic AI is reshaping the underlying logic of traditional hardware cycles and could turn infrastructure supply tightness from a short-term fluctuation into a structural constraint lasting for years.<br><br><b>Dell Technologies</b> (<b>DELL.US</b>) Chief Operating Officer Jeff Clarke said during a recent meeting with Morgan Stanley that agentic AI is markedly different from past hardware cycles. If related AI workloads continue to grow, shortages of key components could persist for more than five years, with memory and HDDs being the areas he is most concerned about at present. Compared with past hardware supply tightness that typically lasted several quarters, this round of demand growth could bring a longer-term supply-demand gap. Morgan Stanley reassessed the current AI infrastructure cycle after the meeting. Analysts noted that the eight hardware boom-and-bust cycles over the past 40 years mostly revolved around equipment replacement and fluctuations in capital expenditure, while the key variable in this cycle is whether AI workloads can continue to expand. In other words, what the Dell executive emphasized is not an ordinary hardware restocking cycle, but a long-term infrastructure expansion potentially driven by growth in agentic AI demand.<br><br><b>Agentic AI Reshapes the Logic of Infrastructure Demand</b><br><br>The report noted that Clarke believes this AI cycle is fundamentally different from the hardware booms and busts of past decades. The previous eight hardware cycles—covering categories such as servers, storage and PCs—were mainly driven by changes in device penetration and replacement cycles, with demand rising and falling along with replacement rhythms, but the hardware market itself did not undergo substantial expansion in scale. Take PC demand during the pandemic as an example: the human-to-device ratio briefly increased, but as society reopened and returned to normal, PC demand also fell back, and the total market size before and after the pandemic did not change in essence. The logic of agentic AI is different. Clarke believes agentic AI is decoupling cognitive output from human input, allowing enterprises to complete more work without adding staff, thereby generating productivity gains of 10x or even 100x. In this process, AI is no longer merely assisting people in completing tasks, but itself becomes a \"productivity tool\" that continuously consumes computing resources. Productivity gains will push more enterprises, regardless of size, to begin AI transformation, thereby continuously expanding the infrastructure TAM. Dell expects that by 2030, data center computing power will add 200 gigawatts, ZettaFLOPS computing power will grow 5x to 830, and the growth of inference tokens will be exponential. The number of tokens required for agentic AI to complete each unit of work is far higher than that of basic chatbots, and Clarke expects inference token generation to grow 87x by 2030.<br><br><b>Cloud and On-Premises Deployment Are Not a Zero-Sum Game</b><br><br>A core question in the market about this round of the AI infrastructure cycle is: will rapidly growing token demand ultimately flow mainly to cloud computing platforms rather than on-premises infrastructure? Clarke's judgment is that agentic AI workloads will take a hybrid deployment form. Enterprises will continuously adjust where inference workloads run between public cloud and on-premises environments based on security and cost efficiency. Clarke used Dell itself as an example: the company will deploy content-related workloads in the public cloud, but will not move proprietary source code or telemetry data out of its own facilities. This means there is no single deployment path for AI workloads, and on-premises infrastructure will still take on a portion of continuously growing computing demand. Under this framework, the exponential growth of token consumption does not necessarily mean that cloud and on-premises infrastructure must form a seesaw relationship. Clarke believes the spread of open-weight models will further drive on-premises infrastructure investment, because enterprises can optimize model output for cost in local environments.<br><br><b>Server Shipment Declines Do Not Change the Long-Term Demand Growth Logic</b><br><br>Traditional server shipments are still declining year over year, which appears to contradict the explosive growth of inference tokens. Clarke's explanation is that the substantial improvement in server performance density is pushing down equipment shipment volumes. Dell's 17th/18th generation servers can replace as many as 13 14th generation traditional servers, so in the short term, even if server shipments decline, the value and carrying capacity per unit are still increasing. As data centers gradually complete the architectural restructuring centered on accelerated computing, and the spread of agentic AI further drives demand for CPU servers, server shipments are ultimately still expected to resume growth. Clarke even said that if inference tokens truly achieve 87x growth within five years, traditional server shipments could also change exponentially. Storage will likewise be continuously driven by agentic AI. Every operation performed by agentic AI, including memory retention and artifact generation, will generate continuous data storage demand; with the large-scale application of KV Cache, storage capacity demand will further increase.<br><br><b>Supply Shortages May Become a Structural Constraint of More Than Five Years</b><br><br>Compared with macroeconomic conditions, geopolitical conflicts, overbuilding of data centers and power shortages, Clarke ranks supply issues as his greatest current concern, and used \"We're in neverland\" to describe the current supply environment. Morgan Stanley pointed out that commodity supply cycles historically typically lasted 2 to 4 quarters, mainly affected by booms and busts in hardware replacement cycles and supply-side decisions. But Clarke believes that if one accepts the growth logic of gigawatts and inference tokens, then key components such as memory and HDDs are no longer merely in an ordinary short-term cycle. Therefore, Dell is currently operating on the premise that key components may face sustained multi-year shortages, with particular attention to memory and HDDs. In other words, the core risk of this round of supply tightness is not short-term insufficient supply, but that after continuous expansion of AI demand, the supply side may need years to catch up. Clarke also said that Dell is superior to peers in supply management, and this advantage is being converted into share gains in multiple segments such as servers, storage and PCs.<br><br><b>Behind Margin Expansion Is a Change in the Supply-Demand Structure</b><br><br>Persistent tightness in key components is also changing the pricing environment of the infrastructure industry. Morgan Stanley had previously attributed part of the gross margin expansion in the server and storage businesses to \"profit stacking,\" that is, while costs of components such as memory rise, vendors further add profit margin. Clarke gave a different explanation. He acknowledged that server and storage margins for similar products are indeed expanding, but believes there are two structural factors behind it: first, when component supply is limited, enterprises will prioritize allocating scarce resources to the highest-margin products; second, as the infrastructure market continues to expand, pressure on enterprises to compete for incremental customers declines, and they do not need to lower prices to win new customers. Therefore, the improvement in margins is not entirely opportunistic gains brought by short-term supply-demand mismatch, but also reflects a change in the industry pricing benchmark after continuous expansion of infrastructure demand. If the workload growth brought by agentic AI can continue to materialize, the core variable of the AI infrastructure cycle will shift from \"equipment replacement\" to \"new demand.\" This means demand expansion for computing power, servers and storage may last longer, and supply constraints for key components such as memory and HDDs may also shift from short-term cyclical fluctuations to a multi-year structural issue.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"QTOC":"Innovator Growth Accelerated Plus ETF - October","ARTY":"ISHARES FUTURE AI & TECH ETF","AGIX":"通用人工智能 ETF-AGIX","DRAM":"Roundhill Memory ETF","VTHR":"Vanguard Russell 3000 ETF","AIPO":"Defiance AI and Power Infrastructure ETF","RAMZ":"T-REX 2X INVERSE DRAM DAILY TARGET ETF","DRAL":"2倍做多DRAM ETF-Defiance","RAM":"2倍做多DRAM ETF-T-REX","CHAT":"ROUNDHILL GENERATIVE AI & TECHNOLOGY ETF","BK4588":"碎股"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117875090","content_text":"Agentic AI is reshaping the underlying logic of traditional hardware cycles and could turn infrastructure supply tightness from a short-term fluctuation into a structural constraint lasting for years.Dell Technologies (DELL.US) Chief Operating Officer Jeff Clarke said during a recent meeting with Morgan Stanley that agentic AI is markedly different from past hardware cycles. If related AI workloads continue to grow, shortages of key components could persist for more than five years, with memory and HDDs being the areas he is most concerned about at present. Compared with past hardware supply tightness that typically lasted several quarters, this round of demand growth could bring a longer-term supply-demand gap. Morgan Stanley reassessed the current AI infrastructure cycle after the meeting. Analysts noted that the eight hardware boom-and-bust cycles over the past 40 years mostly revolved around equipment replacement and fluctuations in capital expenditure, while the key variable in this cycle is whether AI workloads can continue to expand. In other words, what the Dell executive emphasized is not an ordinary hardware restocking cycle, but a long-term infrastructure expansion potentially driven by growth in agentic AI demand.Agentic AI Reshapes the Logic of Infrastructure DemandThe report noted that Clarke believes this AI cycle is fundamentally different from the hardware booms and busts of past decades. The previous eight hardware cycles—covering categories such as servers, storage and PCs—were mainly driven by changes in device penetration and replacement cycles, with demand rising and falling along with replacement rhythms, but the hardware market itself did not undergo substantial expansion in scale. Take PC demand during the pandemic as an example: the human-to-device ratio briefly increased, but as society reopened and returned to normal, PC demand also fell back, and the total market size before and after the pandemic did not change in essence. The logic of agentic AI is different. Clarke believes agentic AI is decoupling cognitive output from human input, allowing enterprises to complete more work without adding staff, thereby generating productivity gains of 10x or even 100x. In this process, AI is no longer merely assisting people in completing tasks, but itself becomes a \"productivity tool\" that continuously consumes computing resources. Productivity gains will push more enterprises, regardless of size, to begin AI transformation, thereby continuously expanding the infrastructure TAM. Dell expects that by 2030, data center computing power will add 200 gigawatts, ZettaFLOPS computing power will grow 5x to 830, and the growth of inference tokens will be exponential. The number of tokens required for agentic AI to complete each unit of work is far higher than that of basic chatbots, and Clarke expects inference token generation to grow 87x by 2030.Cloud and On-Premises Deployment Are Not a Zero-Sum GameA core question in the market about this round of the AI infrastructure cycle is: will rapidly growing token demand ultimately flow mainly to cloud computing platforms rather than on-premises infrastructure? Clarke's judgment is that agentic AI workloads will take a hybrid deployment form. Enterprises will continuously adjust where inference workloads run between public cloud and on-premises environments based on security and cost efficiency. Clarke used Dell itself as an example: the company will deploy content-related workloads in the public cloud, but will not move proprietary source code or telemetry data out of its own facilities. This means there is no single deployment path for AI workloads, and on-premises infrastructure will still take on a portion of continuously growing computing demand. Under this framework, the exponential growth of token consumption does not necessarily mean that cloud and on-premises infrastructure must form a seesaw relationship. Clarke believes the spread of open-weight models will further drive on-premises infrastructure investment, because enterprises can optimize model output for cost in local environments.Server Shipment Declines Do Not Change the Long-Term Demand Growth LogicTraditional server shipments are still declining year over year, which appears to contradict the explosive growth of inference tokens. Clarke's explanation is that the substantial improvement in server performance density is pushing down equipment shipment volumes. Dell's 17th/18th generation servers can replace as many as 13 14th generation traditional servers, so in the short term, even if server shipments decline, the value and carrying capacity per unit are still increasing. As data centers gradually complete the architectural restructuring centered on accelerated computing, and the spread of agentic AI further drives demand for CPU servers, server shipments are ultimately still expected to resume growth. Clarke even said that if inference tokens truly achieve 87x growth within five years, traditional server shipments could also change exponentially. Storage will likewise be continuously driven by agentic AI. Every operation performed by agentic AI, including memory retention and artifact generation, will generate continuous data storage demand; with the large-scale application of KV Cache, storage capacity demand will further increase.Supply Shortages May Become a Structural Constraint of More Than Five YearsCompared with macroeconomic conditions, geopolitical conflicts, overbuilding of data centers and power shortages, Clarke ranks supply issues as his greatest current concern, and used \"We're in neverland\" to describe the current supply environment. Morgan Stanley pointed out that commodity supply cycles historically typically lasted 2 to 4 quarters, mainly affected by booms and busts in hardware replacement cycles and supply-side decisions. But Clarke believes that if one accepts the growth logic of gigawatts and inference tokens, then key components such as memory and HDDs are no longer merely in an ordinary short-term cycle. Therefore, Dell is currently operating on the premise that key components may face sustained multi-year shortages, with particular attention to memory and HDDs. In other words, the core risk of this round of supply tightness is not short-term insufficient supply, but that after continuous expansion of AI demand, the supply side may need years to catch up. Clarke also said that Dell is superior to peers in supply management, and this advantage is being converted into share gains in multiple segments such as servers, storage and PCs.Behind Margin Expansion Is a Change in the Supply-Demand StructurePersistent tightness in key components is also changing the pricing environment of the infrastructure industry. Morgan Stanley had previously attributed part of the gross margin expansion in the server and storage businesses to \"profit stacking,\" that is, while costs of components such as memory rise, vendors further add profit margin. Clarke gave a different explanation. He acknowledged that server and storage margins for similar products are indeed expanding, but believes there are two structural factors behind it: first, when component supply is limited, enterprises will prioritize allocating scarce resources to the highest-margin products; second, as the infrastructure market continues to expand, pressure on enterprises to compete for incremental customers declines, and they do not need to lower prices to win new customers. Therefore, the improvement in margins is not entirely opportunistic gains brought by short-term supply-demand mismatch, but also reflects a change in the industry pricing benchmark after continuous expansion of infrastructure demand. If the workload growth brought by agentic AI can continue to materialize, the core variable of the AI infrastructure cycle will shift from \"equipment replacement\" to \"new demand.\" This means demand expansion for computing power, servers and storage may last longer, and supply constraints for key components such as memory and HDDs may also shift from short-term cyclical fluctuations to a multi-year structural issue.","news_type":1,"symbols_score_info":{"CHAT":1,"QTOC":1,"ARTY":1,"VTHR":1,"DRAM":1,"AGIX":1,"RAM":1,"AIPO":1,"RAMZ":1,"DRAL":1}},"isVote":1,"tweetType":1,"viewCount":131,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":456631752642944,"gmtCreate":1752490777803,"gmtModify":1752499247233,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4194744888979592","authorIdStr":"4194744888979592"},"themes":[],"title":"","htmlText":"<a href=\"https://ttm.financial/S/MU\">$Micron Technology(MU)$&nbsp;</a> why it's falling like a stupid stock even though it beat in earnings and other AI stocks are rising?","listText":"<a href=\"https://ttm.financial/S/MU\">$Micron Technology(MU)$&nbsp;</a> why it's falling like a stupid stock even though it beat in earnings and other AI stocks are rising?","text":"$Micron Technology(MU)$ why it's falling like a stupid stock even though it beat in earnings and other AI stocks are rising?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":1,"link":"https://ttm.financial/post/456631752642944","isVote":1,"tweetType":1,"viewCount":3594,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3586432095771080","authorId":"3586432095771080","name":"NewbieCK","avatar":"https://community-static.tradeup.com/news/37b953fc843bdd7ce75ce4b9eec86319","crmLevel":12,"crmLevelSwitch":0,"idStr":"3586432095771080","authorIdStr":"3586432095771080"},"content":"US stocks are volatile as usual... speculation","text":"US stocks are volatile as usual... speculation","html":"US stocks are volatile as usual... speculation"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":472069504881168,"gmtCreate":1756283005242,"gmtModify":1756283008919,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4194744888979592","authorIdStr":"4194744888979592"},"themes":[],"title":"","htmlText":"But stock won't move up...&nbsp;","listText":"But stock won't move up...&nbsp;","text":"But stock won't move up...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/472069504881168","repostId":"1152743109","repostType":2,"repost":{"id":"1152743109","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1756281725,"share":"https://ttm.financial/m/news/1152743109?lang=en_US&edition=fundamental","pubTime":"2025-08-27 16:02","market":"us","language":"en","title":"UP Fintech: Profit Surges Nearly 8x YoY, Client Assets Reach Record High of US$52.1 Billion","url":"https://stock-news.laohu8.com/highlight/detail?id=1152743109","media":"Tiger Newspress","summary":"New York, August 27, 2025 — UP Fintech Holding Limited (NASDAQ: TIGR) (\"UP Fintech\" or the \"Company\"), announced its unaudited financial results for the second quarter ended June 30, 2025. UP Fintech...","content":"<html><head></head><body><p><strong>New York, August 27, 2025</strong> — UP Fintech Holding Limited (NASDAQ: TIGR) (&#34;UP Fintech&#34; or the &#34;Company&#34;), announced its unaudited financial results for the second quarter ended June 30, 2025. UP Fintech achieved a total revenue of US$138.7 million in the second quarter, up 58.7% increase year-over-year (YoY), marking a record high. Non-GAAP net income attributable to UP Fintech shareholders surged to US$44.5 million, up 23.5% quarter-over-quarter (QoQ) and nearly 8 times growth YoY, also reaching a record level. The Company added 52,700 new accounts during the quarter, bringing the total number of global accounts to 2.58 million. Funded accounts increased by 39,800, pushing total funded clients up 21.4% YoY to 1.19 million. Business activity remained strong, with Q2 trading volume soaring 168.3% YoY to US$284 billion. Net asset inflows were US$3 billion, propelling total client assets to a record US$52.1 billion, up 13.5% QoQ and 36.3% YoY. </p><p><strong>UP Fintech&#39;s founder and CEO, Wu Tianhua</strong>, stated: &#34;In Q2, we delivered strong growth in both revenue and profit. Non-GAAP net profit surged eightfold YoY, hitting a record high. Remarkably, in just the first half of 2025, our operating profit, net income, and non-GAAP net income have already surpassed full-year 2024 levels, underscoring our solid profitability and operating leverage. At the same time, Tiger continues to gain trust from quality clients—average net asset inflows from new clients in Q2 exceeded US$20,000, a record high. In Hong Kong and Singapore, the figure reached about US$30,000, driving client assets in the two markets up approximately 50% and 20% QoQ, respectively. This lays a solid foundation for sustainable growth throughout the year.&#34;</p><p>He added, &#34;We continue to enhance Tiger Trade&#39;s all-in-one investment experience. In Q2, TigerAI introduced major upgrades including portfolio analysis, watchlist insights, and stock-specific assessments, as well as features like news tracing and preference memory for more efficient and reliable research support. We also launched new fundamental tools such as revenue &amp; expenditure breakdown and valuation track, to help investors better interpret company financials and valuations. On the options front, we introduced HK equity options quote requests and conditional market orders for single-leg options, further improving the trading experience and making investing more seamless.&#34;</p><p><strong>SG: Strengthening local leadership with enhanced product experience</strong></p><p><strong>HK: Maintaining high-growth momentum with Q2 trading up nearly 8x YoY</strong></p><p>In Singapore, the Company continues to lead the local tech brokerage market, with core business metrics climbing steadily. In Q2, total trading volume rose 113% YoY and 80% QoQ. Trading orders and commissions both reached record highs, up 62.2% and 69.4% YoY, respectively. Trading activity remained robust, with US stock and IPO trading volume jumping 117.8% and 130.8% YoY. On the product side, the Tiger BOSS Debit Card - Singapore&#39;s first debit card that rewards everyday spending with fractional shares, continued to enhance user experience. The card now supports spending at over 50 dining, transport, and retail merchants. Its fractional share rewards portfolio has expanded to include the US &#34;Magnificent Seven&#34; and popular ETFs such as VOO and QQQ, while the annual transaction limit was raised to S$100,000. In April, Tiger Brokers Singapore also entered a strategic talent partnership with Singapore Exchange (SGX) to co-develop specialized training programs aimed at nurturing the next generation of wealth management professionals, further strengthening ties with the local financial ecosystem.</p><p>In Hong Kong, momentum remained strong. Total trading volume in Q2 surged nearly 8x YoY and 122% QoQ, while total trading orders rose 218% YoY and 20% QoQ, underscoring continued trading vitality. By asset class, Hong Kong futures trading volume jumped 1.7x QoQ, US futures orders climbed 1.6x QoQ, and crypto trading volume grew nearly 65% QoQ, highlighting the benefits of a diversified trading mix. Cash management solution Tiger Vault continued to gain traction, with Hong Kong AUC soaring nearly 6x YoY and user numbers up 1.6x YoY. HKD money market fund trading volume and order counts surged 1.7x and 63% QoQ, respectively, reflecting both product stickiness and growth potential. Beyond trading, Tiger Brokers Hong Kong also actively engaged in local offline events and exhibitions during the quarter, providing investors with opportunities to learn, exchange ideas, and sharpen their financial literacy to better navigate market shifts and capture wealth opportunities.</p><p>In the US, TradeUP delivered solid growth in the second quarter. Average client assets (AUC) rose 33.2% QoQ, reflecting stronger user engagement and asset retention. Options trading surged 163.4% QoQ, underscoring the platform&#39;s growing appeal in derivatives. Overall, combined stock and options trading volume increased 15% QoQ, signaling steady momentum and laying a solid foundation for future revenue growth. On the primary market front, TradeUP participated in underwriting four US IPOs, including the high-profile deal CHAGEE, further highlighting its underwriting strength and brand influence in the US capital market.</p><p>In Australia, Tiger continued to gain traction among local investors. Q2 new account openings grew 62.6% QoQ, net deposit amount rose 28.8% QoQ, total client assets climbed 34% QoQ, and gross income increased 30.6% QoQ, extending robust momentum. Reflecting its platform value and user experience, Tiger Brokers Australia was awarded the 2025 Canstar &#34;Outstanding Value Award – Share Trading Platform in Active Investor&#34; during the quarter. In New Zealand, Tiger attracted more quality clients, with net deposit amount jumping 149.2% YoY and client assets up 42% QoQ. Trading accounts rose 59.6% YoY, while trading volume surged 56.3% QoQ and 119.7% YoY. US stock trading remained highly active, with stock orders up 112.6% YoY and options orders soaring 126.2% YoY, underscoring a strong local appetite for US securities.</p><p><strong>TigerAI usage surges 3x, Fundamental analysis tools upgraded</strong></p><p><strong>HK IPOs join Top Tier, Subscriptions hit 3-year high</strong></p><p>In Q2, UP Fintech recorded commission income of US$64.8 million, rising 90.1% YoY, while interest-related income climbed 30.4% YoY to US$61.4 million. The Company continues to enhance its all-in-one global investment experience on the Tiger Trade app. TigerAI, the industry&#39;s first AI-powered research assistant, saw its user base more than triple YoY in Q2, with total conversations rising over fourfold. Its capabilities were further upgraded with new functions* including AI portfolio analysis and AI watchlist analysis, offering personalized insights based on users&#39; holdings. TigerAI also introduced single-stock insights, consolidating key market-moving factors and trading summaries for timely decision-making. Meanwhile, Tiger Trade&#39;s fundamental analysis tools received major updates. Newly added features include Valuation Track to help investors quickly assess company valuation levels; revenue &amp; expenditure breakdown to visualize income and expense flows; and an Earnings Move section on stock pages to quantify expected market impact from earnings events. On the options trading front, enhancements included HK stock option quote requests*, stop-loss market orders, and conditional market orders for options. In addition, tiered commission pricing* was introduced for both the HK and US stock markets. With these product enrichments, average daily trading volume (DARTs) across asset classes surged 86.6% YoY in Q2. Night trading capabilities were also upgraded with new order types and amendments supported, driving Tiger&#39;s US stock night-trading DARTs to nearly 8x YoY growth.</p><p>Following the strong momentum in the first quarter, Tiger&#39;s IPO subscription business continued its explosive growth in Q2. The Hong Kong IPO business rose to the first-tier league, with cumulative subscription numbers reaching the highest level since 2022. During the quarter, the number of subscribers surged nearly fourfold QoQ, while subscription amounts rose 11% QoQ. In the US, Tiger underwrote high-profile IPO projects such as CHAGEE, which set new subscription records and achieved full client allocation on the platform.</p><p>The Company&#39;s wealth management business also recorded significant expansion in both assets and client base, driving sustained high-quality growth. Wealth management AUC grew 31.7% QoQ and 225% YoY, while the number of wealth clients increased 70.8% YoY, underscoring continuous breakthroughs in client coverage and asset accumulation. Cash management solution Tiger Vault maintained rapid growth, with total AUC across all markets more than doubling YoY (+223%) and up 31.8% QoQ; the number of clients rose 75.7% YoY and 11.3% QoQ. Hong Kong stood out in particular, with Tiger Vault AUC in the market up 42.2% QoQ and 576.6% YoY, while client numbers grew 25.5% QoQ and 157.6% YoY—reflecting robust demand for local cash management amid a Hong Kong market rebound. Structured note trading also showed strong momentum, with transaction volume up 66.5% QoQ and trading accounts up 76.9% QoQ, supported by the introduction of several new product types to meet diverse investment needs. The high-net-worth client base further expanded, with active clients holding over US$1 million in assets, increasing 34.9% QoQ, and their fund holdings rising 38.3% QoQ.</p><p>The Turnkey Asset Management Platform (TAMP) business continued to strengthen its leading position among financial advisors (FAs) and external asset managers (EAMs). By deepening institutional partnerships, the platform kept attracting new advisors and significantly expanded AUC, which rose 33.9% QoQ in Q2. The number of EAM-managed accounts increased 36% QoQ, while multi-asset classes—including securities and derivatives—maintained double-digit QoQ growth. In addition, the platform further broadened its structured note product offerings to meet diversified investment needs. Supported by the recently launched innovative &#34;Investment Co-Pilot&#34; collaborative sales model, advisor and research teams enhanced their coordination in structured product distribution. Meanwhile, the innovative client referral program also gained traction, with referred client accounts up 15% QoQ.</p><p><strong>Investment Banking: Expanded presence in Hong Kong and US IPOs</strong></p><p><strong>Ranked third among US-listed Chinese IPO underwriters, CHAGEE IPO sets 3-year subscription record</strong></p><p>UP Fintech&#39;s other revenues, encompassing services such as investment banking and Employee Stock Ownership Plan (ESOP), reached US$12.5 million. In Q2, the Company&#39;s investment banking division participated in the underwriting of 7 Hong Kong IPOs and 4 US IPOs, continuing to broaden its presence across markets. Notably, UP Fintech underwrote two of the top three US-listed Chinese IPOs by fundraising size during the quarter—CHAGEE and Yuanbao—ranking third among all underwriters of US-listed Chinese issuers. CHAGEE stood out as a blockbuster, attracting over 30,000 subscriptions on the Company&#39;s platform, the highest number for a US IPO in nearly three years. All platform users who subscribed received allocations, with allotment rates exceeding industry averages.</p><p>On the ESOP front, the Company&#39;s UponeShare service added 30 new clients in Q2, bringing its total to 663 enterprises served. SaaS revenue from the employee option management platform grew 37.6% YoY, with H1 profit reaching 2.8x the full-year 2024 profit. Since its spin-off, the brand has leveraged refined operations to effectively control costs and scale profitability.</p><p>Tiger Enterprise Account onboarded 9 corporate clients in Q2—including CaoCao Mobility and Geekplus—bringing the total of corporate accounts to 487. The platform partnered with Leapmotor to livestream its &#34;Better and More Advanced&#34; event themed around &#34;A Better Home for Global Youth&#34;, showcasing a series of product upgrades, and broadcast the launch of the Leapmotor C16. Enterprise Accounts also livestreamed Xiaomi&#39;s 15th Anniversary Strategic Launch, helping users gain first-hand access to new products across Xiaomi&#39;s four core sectors: smartphones, chips, smart hardware, and electric vehicles.</p><p><em>*Available in certain markets</em></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>UP Fintech: Profit Surges Nearly 8x YoY, Client Assets Reach Record High of US$52.1 Billion</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUP Fintech: Profit Surges Nearly 8x YoY, Client Assets Reach Record High of US$52.1 Billion\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2025-08-27 16:02</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><strong>New York, August 27, 2025</strong> — UP Fintech Holding Limited (NASDAQ: TIGR) (&#34;UP Fintech&#34; or the &#34;Company&#34;), announced its unaudited financial results for the second quarter ended June 30, 2025. UP Fintech achieved a total revenue of US$138.7 million in the second quarter, up 58.7% increase year-over-year (YoY), marking a record high. Non-GAAP net income attributable to UP Fintech shareholders surged to US$44.5 million, up 23.5% quarter-over-quarter (QoQ) and nearly 8 times growth YoY, also reaching a record level. The Company added 52,700 new accounts during the quarter, bringing the total number of global accounts to 2.58 million. Funded accounts increased by 39,800, pushing total funded clients up 21.4% YoY to 1.19 million. Business activity remained strong, with Q2 trading volume soaring 168.3% YoY to US$284 billion. Net asset inflows were US$3 billion, propelling total client assets to a record US$52.1 billion, up 13.5% QoQ and 36.3% YoY. </p><p><strong>UP Fintech&#39;s founder and CEO, Wu Tianhua</strong>, stated: &#34;In Q2, we delivered strong growth in both revenue and profit. Non-GAAP net profit surged eightfold YoY, hitting a record high. Remarkably, in just the first half of 2025, our operating profit, net income, and non-GAAP net income have already surpassed full-year 2024 levels, underscoring our solid profitability and operating leverage. At the same time, Tiger continues to gain trust from quality clients—average net asset inflows from new clients in Q2 exceeded US$20,000, a record high. In Hong Kong and Singapore, the figure reached about US$30,000, driving client assets in the two markets up approximately 50% and 20% QoQ, respectively. This lays a solid foundation for sustainable growth throughout the year.&#34;</p><p>He added, &#34;We continue to enhance Tiger Trade&#39;s all-in-one investment experience. In Q2, TigerAI introduced major upgrades including portfolio analysis, watchlist insights, and stock-specific assessments, as well as features like news tracing and preference memory for more efficient and reliable research support. We also launched new fundamental tools such as revenue &amp; expenditure breakdown and valuation track, to help investors better interpret company financials and valuations. On the options front, we introduced HK equity options quote requests and conditional market orders for single-leg options, further improving the trading experience and making investing more seamless.&#34;</p><p><strong>SG: Strengthening local leadership with enhanced product experience</strong></p><p><strong>HK: Maintaining high-growth momentum with Q2 trading up nearly 8x YoY</strong></p><p>In Singapore, the Company continues to lead the local tech brokerage market, with core business metrics climbing steadily. In Q2, total trading volume rose 113% YoY and 80% QoQ. Trading orders and commissions both reached record highs, up 62.2% and 69.4% YoY, respectively. Trading activity remained robust, with US stock and IPO trading volume jumping 117.8% and 130.8% YoY. On the product side, the Tiger BOSS Debit Card - Singapore&#39;s first debit card that rewards everyday spending with fractional shares, continued to enhance user experience. The card now supports spending at over 50 dining, transport, and retail merchants. Its fractional share rewards portfolio has expanded to include the US &#34;Magnificent Seven&#34; and popular ETFs such as VOO and QQQ, while the annual transaction limit was raised to S$100,000. In April, Tiger Brokers Singapore also entered a strategic talent partnership with Singapore Exchange (SGX) to co-develop specialized training programs aimed at nurturing the next generation of wealth management professionals, further strengthening ties with the local financial ecosystem.</p><p>In Hong Kong, momentum remained strong. Total trading volume in Q2 surged nearly 8x YoY and 122% QoQ, while total trading orders rose 218% YoY and 20% QoQ, underscoring continued trading vitality. By asset class, Hong Kong futures trading volume jumped 1.7x QoQ, US futures orders climbed 1.6x QoQ, and crypto trading volume grew nearly 65% QoQ, highlighting the benefits of a diversified trading mix. Cash management solution Tiger Vault continued to gain traction, with Hong Kong AUC soaring nearly 6x YoY and user numbers up 1.6x YoY. HKD money market fund trading volume and order counts surged 1.7x and 63% QoQ, respectively, reflecting both product stickiness and growth potential. Beyond trading, Tiger Brokers Hong Kong also actively engaged in local offline events and exhibitions during the quarter, providing investors with opportunities to learn, exchange ideas, and sharpen their financial literacy to better navigate market shifts and capture wealth opportunities.</p><p>In the US, TradeUP delivered solid growth in the second quarter. Average client assets (AUC) rose 33.2% QoQ, reflecting stronger user engagement and asset retention. Options trading surged 163.4% QoQ, underscoring the platform&#39;s growing appeal in derivatives. Overall, combined stock and options trading volume increased 15% QoQ, signaling steady momentum and laying a solid foundation for future revenue growth. On the primary market front, TradeUP participated in underwriting four US IPOs, including the high-profile deal CHAGEE, further highlighting its underwriting strength and brand influence in the US capital market.</p><p>In Australia, Tiger continued to gain traction among local investors. Q2 new account openings grew 62.6% QoQ, net deposit amount rose 28.8% QoQ, total client assets climbed 34% QoQ, and gross income increased 30.6% QoQ, extending robust momentum. Reflecting its platform value and user experience, Tiger Brokers Australia was awarded the 2025 Canstar &#34;Outstanding Value Award – Share Trading Platform in Active Investor&#34; during the quarter. In New Zealand, Tiger attracted more quality clients, with net deposit amount jumping 149.2% YoY and client assets up 42% QoQ. Trading accounts rose 59.6% YoY, while trading volume surged 56.3% QoQ and 119.7% YoY. US stock trading remained highly active, with stock orders up 112.6% YoY and options orders soaring 126.2% YoY, underscoring a strong local appetite for US securities.</p><p><strong>TigerAI usage surges 3x, Fundamental analysis tools upgraded</strong></p><p><strong>HK IPOs join Top Tier, Subscriptions hit 3-year high</strong></p><p>In Q2, UP Fintech recorded commission income of US$64.8 million, rising 90.1% YoY, while interest-related income climbed 30.4% YoY to US$61.4 million. The Company continues to enhance its all-in-one global investment experience on the Tiger Trade app. TigerAI, the industry&#39;s first AI-powered research assistant, saw its user base more than triple YoY in Q2, with total conversations rising over fourfold. Its capabilities were further upgraded with new functions* including AI portfolio analysis and AI watchlist analysis, offering personalized insights based on users&#39; holdings. TigerAI also introduced single-stock insights, consolidating key market-moving factors and trading summaries for timely decision-making. Meanwhile, Tiger Trade&#39;s fundamental analysis tools received major updates. Newly added features include Valuation Track to help investors quickly assess company valuation levels; revenue &amp; expenditure breakdown to visualize income and expense flows; and an Earnings Move section on stock pages to quantify expected market impact from earnings events. On the options trading front, enhancements included HK stock option quote requests*, stop-loss market orders, and conditional market orders for options. In addition, tiered commission pricing* was introduced for both the HK and US stock markets. With these product enrichments, average daily trading volume (DARTs) across asset classes surged 86.6% YoY in Q2. Night trading capabilities were also upgraded with new order types and amendments supported, driving Tiger&#39;s US stock night-trading DARTs to nearly 8x YoY growth.</p><p>Following the strong momentum in the first quarter, Tiger&#39;s IPO subscription business continued its explosive growth in Q2. The Hong Kong IPO business rose to the first-tier league, with cumulative subscription numbers reaching the highest level since 2022. During the quarter, the number of subscribers surged nearly fourfold QoQ, while subscription amounts rose 11% QoQ. In the US, Tiger underwrote high-profile IPO projects such as CHAGEE, which set new subscription records and achieved full client allocation on the platform.</p><p>The Company&#39;s wealth management business also recorded significant expansion in both assets and client base, driving sustained high-quality growth. Wealth management AUC grew 31.7% QoQ and 225% YoY, while the number of wealth clients increased 70.8% YoY, underscoring continuous breakthroughs in client coverage and asset accumulation. Cash management solution Tiger Vault maintained rapid growth, with total AUC across all markets more than doubling YoY (+223%) and up 31.8% QoQ; the number of clients rose 75.7% YoY and 11.3% QoQ. Hong Kong stood out in particular, with Tiger Vault AUC in the market up 42.2% QoQ and 576.6% YoY, while client numbers grew 25.5% QoQ and 157.6% YoY—reflecting robust demand for local cash management amid a Hong Kong market rebound. Structured note trading also showed strong momentum, with transaction volume up 66.5% QoQ and trading accounts up 76.9% QoQ, supported by the introduction of several new product types to meet diverse investment needs. The high-net-worth client base further expanded, with active clients holding over US$1 million in assets, increasing 34.9% QoQ, and their fund holdings rising 38.3% QoQ.</p><p>The Turnkey Asset Management Platform (TAMP) business continued to strengthen its leading position among financial advisors (FAs) and external asset managers (EAMs). By deepening institutional partnerships, the platform kept attracting new advisors and significantly expanded AUC, which rose 33.9% QoQ in Q2. The number of EAM-managed accounts increased 36% QoQ, while multi-asset classes—including securities and derivatives—maintained double-digit QoQ growth. In addition, the platform further broadened its structured note product offerings to meet diversified investment needs. Supported by the recently launched innovative &#34;Investment Co-Pilot&#34; collaborative sales model, advisor and research teams enhanced their coordination in structured product distribution. Meanwhile, the innovative client referral program also gained traction, with referred client accounts up 15% QoQ.</p><p><strong>Investment Banking: Expanded presence in Hong Kong and US IPOs</strong></p><p><strong>Ranked third among US-listed Chinese IPO underwriters, CHAGEE IPO sets 3-year subscription record</strong></p><p>UP Fintech&#39;s other revenues, encompassing services such as investment banking and Employee Stock Ownership Plan (ESOP), reached US$12.5 million. In Q2, the Company&#39;s investment banking division participated in the underwriting of 7 Hong Kong IPOs and 4 US IPOs, continuing to broaden its presence across markets. Notably, UP Fintech underwrote two of the top three US-listed Chinese IPOs by fundraising size during the quarter—CHAGEE and Yuanbao—ranking third among all underwriters of US-listed Chinese issuers. CHAGEE stood out as a blockbuster, attracting over 30,000 subscriptions on the Company&#39;s platform, the highest number for a US IPO in nearly three years. All platform users who subscribed received allocations, with allotment rates exceeding industry averages.</p><p>On the ESOP front, the Company&#39;s UponeShare service added 30 new clients in Q2, bringing its total to 663 enterprises served. SaaS revenue from the employee option management platform grew 37.6% YoY, with H1 profit reaching 2.8x the full-year 2024 profit. Since its spin-off, the brand has leveraged refined operations to effectively control costs and scale profitability.</p><p>Tiger Enterprise Account onboarded 9 corporate clients in Q2—including CaoCao Mobility and Geekplus—bringing the total of corporate accounts to 487. The platform partnered with Leapmotor to livestream its &#34;Better and More Advanced&#34; event themed around &#34;A Better Home for Global Youth&#34;, showcasing a series of product upgrades, and broadcast the launch of the Leapmotor C16. Enterprise Accounts also livestreamed Xiaomi&#39;s 15th Anniversary Strategic Launch, helping users gain first-hand access to new products across Xiaomi&#39;s four core sectors: smartphones, chips, smart hardware, and electric vehicles.</p><p><em>*Available in certain markets</em></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TIGR":"老虎证券"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1152743109","content_text":"New York, August 27, 2025 — UP Fintech Holding Limited (NASDAQ: TIGR) (\"UP Fintech\" or the \"Company\"), announced its unaudited financial results for the second quarter ended June 30, 2025. UP Fintech achieved a total revenue of US$138.7 million in the second quarter, up 58.7% increase year-over-year (YoY), marking a record high. Non-GAAP net income attributable to UP Fintech shareholders surged to US$44.5 million, up 23.5% quarter-over-quarter (QoQ) and nearly 8 times growth YoY, also reaching a record level. The Company added 52,700 new accounts during the quarter, bringing the total number of global accounts to 2.58 million. Funded accounts increased by 39,800, pushing total funded clients up 21.4% YoY to 1.19 million. Business activity remained strong, with Q2 trading volume soaring 168.3% YoY to US$284 billion. Net asset inflows were US$3 billion, propelling total client assets to a record US$52.1 billion, up 13.5% QoQ and 36.3% YoY. UP Fintech's founder and CEO, Wu Tianhua, stated: \"In Q2, we delivered strong growth in both revenue and profit. Non-GAAP net profit surged eightfold YoY, hitting a record high. Remarkably, in just the first half of 2025, our operating profit, net income, and non-GAAP net income have already surpassed full-year 2024 levels, underscoring our solid profitability and operating leverage. At the same time, Tiger continues to gain trust from quality clients—average net asset inflows from new clients in Q2 exceeded US$20,000, a record high. In Hong Kong and Singapore, the figure reached about US$30,000, driving client assets in the two markets up approximately 50% and 20% QoQ, respectively. This lays a solid foundation for sustainable growth throughout the year.\"He added, \"We continue to enhance Tiger Trade's all-in-one investment experience. In Q2, TigerAI introduced major upgrades including portfolio analysis, watchlist insights, and stock-specific assessments, as well as features like news tracing and preference memory for more efficient and reliable research support. We also launched new fundamental tools such as revenue & expenditure breakdown and valuation track, to help investors better interpret company financials and valuations. On the options front, we introduced HK equity options quote requests and conditional market orders for single-leg options, further improving the trading experience and making investing more seamless.\"SG: Strengthening local leadership with enhanced product experienceHK: Maintaining high-growth momentum with Q2 trading up nearly 8x YoYIn Singapore, the Company continues to lead the local tech brokerage market, with core business metrics climbing steadily. In Q2, total trading volume rose 113% YoY and 80% QoQ. Trading orders and commissions both reached record highs, up 62.2% and 69.4% YoY, respectively. Trading activity remained robust, with US stock and IPO trading volume jumping 117.8% and 130.8% YoY. On the product side, the Tiger BOSS Debit Card - Singapore's first debit card that rewards everyday spending with fractional shares, continued to enhance user experience. The card now supports spending at over 50 dining, transport, and retail merchants. Its fractional share rewards portfolio has expanded to include the US \"Magnificent Seven\" and popular ETFs such as VOO and QQQ, while the annual transaction limit was raised to S$100,000. In April, Tiger Brokers Singapore also entered a strategic talent partnership with Singapore Exchange (SGX) to co-develop specialized training programs aimed at nurturing the next generation of wealth management professionals, further strengthening ties with the local financial ecosystem.In Hong Kong, momentum remained strong. Total trading volume in Q2 surged nearly 8x YoY and 122% QoQ, while total trading orders rose 218% YoY and 20% QoQ, underscoring continued trading vitality. By asset class, Hong Kong futures trading volume jumped 1.7x QoQ, US futures orders climbed 1.6x QoQ, and crypto trading volume grew nearly 65% QoQ, highlighting the benefits of a diversified trading mix. Cash management solution Tiger Vault continued to gain traction, with Hong Kong AUC soaring nearly 6x YoY and user numbers up 1.6x YoY. HKD money market fund trading volume and order counts surged 1.7x and 63% QoQ, respectively, reflecting both product stickiness and growth potential. Beyond trading, Tiger Brokers Hong Kong also actively engaged in local offline events and exhibitions during the quarter, providing investors with opportunities to learn, exchange ideas, and sharpen their financial literacy to better navigate market shifts and capture wealth opportunities.In the US, TradeUP delivered solid growth in the second quarter. Average client assets (AUC) rose 33.2% QoQ, reflecting stronger user engagement and asset retention. Options trading surged 163.4% QoQ, underscoring the platform's growing appeal in derivatives. Overall, combined stock and options trading volume increased 15% QoQ, signaling steady momentum and laying a solid foundation for future revenue growth. On the primary market front, TradeUP participated in underwriting four US IPOs, including the high-profile deal CHAGEE, further highlighting its underwriting strength and brand influence in the US capital market.In Australia, Tiger continued to gain traction among local investors. Q2 new account openings grew 62.6% QoQ, net deposit amount rose 28.8% QoQ, total client assets climbed 34% QoQ, and gross income increased 30.6% QoQ, extending robust momentum. Reflecting its platform value and user experience, Tiger Brokers Australia was awarded the 2025 Canstar \"Outstanding Value Award – Share Trading Platform in Active Investor\" during the quarter. In New Zealand, Tiger attracted more quality clients, with net deposit amount jumping 149.2% YoY and client assets up 42% QoQ. Trading accounts rose 59.6% YoY, while trading volume surged 56.3% QoQ and 119.7% YoY. US stock trading remained highly active, with stock orders up 112.6% YoY and options orders soaring 126.2% YoY, underscoring a strong local appetite for US securities.TigerAI usage surges 3x, Fundamental analysis tools upgradedHK IPOs join Top Tier, Subscriptions hit 3-year highIn Q2, UP Fintech recorded commission income of US$64.8 million, rising 90.1% YoY, while interest-related income climbed 30.4% YoY to US$61.4 million. The Company continues to enhance its all-in-one global investment experience on the Tiger Trade app. TigerAI, the industry's first AI-powered research assistant, saw its user base more than triple YoY in Q2, with total conversations rising over fourfold. Its capabilities were further upgraded with new functions* including AI portfolio analysis and AI watchlist analysis, offering personalized insights based on users' holdings. TigerAI also introduced single-stock insights, consolidating key market-moving factors and trading summaries for timely decision-making. Meanwhile, Tiger Trade's fundamental analysis tools received major updates. Newly added features include Valuation Track to help investors quickly assess company valuation levels; revenue & expenditure breakdown to visualize income and expense flows; and an Earnings Move section on stock pages to quantify expected market impact from earnings events. On the options trading front, enhancements included HK stock option quote requests*, stop-loss market orders, and conditional market orders for options. In addition, tiered commission pricing* was introduced for both the HK and US stock markets. With these product enrichments, average daily trading volume (DARTs) across asset classes surged 86.6% YoY in Q2. Night trading capabilities were also upgraded with new order types and amendments supported, driving Tiger's US stock night-trading DARTs to nearly 8x YoY growth.Following the strong momentum in the first quarter, Tiger's IPO subscription business continued its explosive growth in Q2. The Hong Kong IPO business rose to the first-tier league, with cumulative subscription numbers reaching the highest level since 2022. During the quarter, the number of subscribers surged nearly fourfold QoQ, while subscription amounts rose 11% QoQ. In the US, Tiger underwrote high-profile IPO projects such as CHAGEE, which set new subscription records and achieved full client allocation on the platform.The Company's wealth management business also recorded significant expansion in both assets and client base, driving sustained high-quality growth. Wealth management AUC grew 31.7% QoQ and 225% YoY, while the number of wealth clients increased 70.8% YoY, underscoring continuous breakthroughs in client coverage and asset accumulation. Cash management solution Tiger Vault maintained rapid growth, with total AUC across all markets more than doubling YoY (+223%) and up 31.8% QoQ; the number of clients rose 75.7% YoY and 11.3% QoQ. Hong Kong stood out in particular, with Tiger Vault AUC in the market up 42.2% QoQ and 576.6% YoY, while client numbers grew 25.5% QoQ and 157.6% YoY—reflecting robust demand for local cash management amid a Hong Kong market rebound. Structured note trading also showed strong momentum, with transaction volume up 66.5% QoQ and trading accounts up 76.9% QoQ, supported by the introduction of several new product types to meet diverse investment needs. The high-net-worth client base further expanded, with active clients holding over US$1 million in assets, increasing 34.9% QoQ, and their fund holdings rising 38.3% QoQ.The Turnkey Asset Management Platform (TAMP) business continued to strengthen its leading position among financial advisors (FAs) and external asset managers (EAMs). By deepening institutional partnerships, the platform kept attracting new advisors and significantly expanded AUC, which rose 33.9% QoQ in Q2. The number of EAM-managed accounts increased 36% QoQ, while multi-asset classes—including securities and derivatives—maintained double-digit QoQ growth. In addition, the platform further broadened its structured note product offerings to meet diversified investment needs. Supported by the recently launched innovative \"Investment Co-Pilot\" collaborative sales model, advisor and research teams enhanced their coordination in structured product distribution. Meanwhile, the innovative client referral program also gained traction, with referred client accounts up 15% QoQ.Investment Banking: Expanded presence in Hong Kong and US IPOsRanked third among US-listed Chinese IPO underwriters, CHAGEE IPO sets 3-year subscription recordUP Fintech's other revenues, encompassing services such as investment banking and Employee Stock Ownership Plan (ESOP), reached US$12.5 million. In Q2, the Company's investment banking division participated in the underwriting of 7 Hong Kong IPOs and 4 US IPOs, continuing to broaden its presence across markets. Notably, UP Fintech underwrote two of the top three US-listed Chinese IPOs by fundraising size during the quarter—CHAGEE and Yuanbao—ranking third among all underwriters of US-listed Chinese issuers. CHAGEE stood out as a blockbuster, attracting over 30,000 subscriptions on the Company's platform, the highest number for a US IPO in nearly three years. All platform users who subscribed received allocations, with allotment rates exceeding industry averages.On the ESOP front, the Company's UponeShare service added 30 new clients in Q2, bringing its total to 663 enterprises served. SaaS revenue from the employee option management platform grew 37.6% YoY, with H1 profit reaching 2.8x the full-year 2024 profit. Since its spin-off, the brand has leveraged refined operations to effectively control costs and scale profitability.Tiger Enterprise Account onboarded 9 corporate clients in Q2—including CaoCao Mobility and Geekplus—bringing the total of corporate accounts to 487. The platform partnered with Leapmotor to livestream its \"Better and More Advanced\" event themed around \"A Better Home for Global Youth\", showcasing a series of product upgrades, and broadcast the launch of the Leapmotor C16. Enterprise Accounts also livestreamed Xiaomi's 15th Anniversary Strategic Launch, helping users gain first-hand access to new products across Xiaomi's four core sectors: smartphones, chips, smart hardware, and electric vehicles.*Available in certain markets","news_type":1,"symbols_score_info":{"TIGR":1.1}},"isVote":1,"tweetType":1,"viewCount":2145,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":490106760413704,"gmtCreate":1760678366294,"gmtModify":1760678370025,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4194744888979592","authorIdStr":"4194744888979592"},"themes":[],"title":"","htmlText":"Isn't good? Can someone explain the stock market impact&nbsp;","listText":"Isn't good? Can someone explain the stock market impact&nbsp;","text":"Isn't good? Can someone explain the stock market impact","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/490106760413704","repostId":"2576554724","repostType":2,"repost":{"id":"2576554724","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"pubTimestamp":1760672917,"share":"https://ttm.financial/m/news/2576554724?lang=en_US&edition=fundamental","pubTime":"2025-10-17 11:48","market":"fut","language":"en","title":"US Budget Deficit Falls $41 Billion to $1.775 Trillion in Fiscal 2025 As Tariffs, Debt Payments Both Saw New Records","url":"https://stock-news.laohu8.com/highlight/detail?id=2576554724","media":"Reuters","summary":"US budget deficit falls $41 billion to $1.775 trillion in fiscal 2025By David LawderWASHINGTON, Oct 16 (Reuters) - The U.S. budget deficit shrank by $41 billion to $1.775 trillion in the 2025 fiscal y","content":"<html><head></head><body><p>The U.S. budget deficit shrank by $41 billion to $1.775 trillion in the 2025 fiscal year, despite a $118 billion increase in revenues from President Donald Trump&#39;s tariffs, the Treasury Department reported on Thursday.</p><p style=\"text-align: start;\">The results for the year ended September 30, which include nearly nine months of Trump&#39;s second term in the White House, compared to a $1.817 trillion deficit in fiscal 2024. It was the first time the annual deficit had fallen since 2022, when the unwinding of COVID-19 relief programs brought spending down.</p><p>The smaller deficit was aided by a record $195 billion in net customs receipts for the fiscal year, an increase of $118 billion from the prior year as new Trump tariffs rolled in.</p><p style=\"text-align: start;\">Customs receipts in September reached a new record high of $29.7 billion, but the pace of increase slowed from August, when $29.5 billion was collected.</p><p style=\"text-align: start;\">Total receipts for fiscal 2025 were a record $5.235 trillion, up $317 billion, or 6%, from the $4.918 trillion in fiscal 2024.</p><p style=\"text-align: start;\">Fiscal 2025 outlays also were a record at $7.01 trillion, up $275 billion, or 4%, from the $6.735 trillion in the prior fiscal year.</p><h3 id=\"id_305117267\">TREASURY REPORTS RECORD SURPLUS FOR MONTH OF SEPTEMBER</h3><p style=\"text-align: start;\">A U.S. Treasury official said the department calculated an estimated deficit-to-GDP ratio of 5.9% for fiscal 2025, but declined to say what GDP estimate was used. This figure compares to an actual 6.3% deficit-to-GDP ratio for fiscal 2024.</p><p>For the 2025 fiscal year&#39;s final month of September, the Treasury reported a record surplus of $198 billion, up $118 billion, or 147%, from the same month in the prior year. September is often a month of surplus due to quarterly tax filing deadlines for companies and individuals.</p><p style=\"text-align: start;\">Receipts last month were up $17 billion, or 3%, to $544 billion, while outlays were down $101 billion, or 23%, to $346 billion.</p><p style=\"text-align: start;\">The latest monthly surplus was boosted by a $131 billion cut to the Department of Education budget that was mandated in the spending and tax-cut bill passed by the Republican-controlled Congress in July. For September, the education outlays were $123 billion lower than in September 2024.</p><p style=\"text-align: start;\">For the full 2025 fiscal year, the Department of Education suffered the biggest cut in outlays, down $233 billion, or 87% from the prior year to just $35 billion.</p><p>That cut and the higher customs receipts masked continued increases in outlays for the Social Security retirement plan, the Medicare and Medicaid healthcare programs and interest on the U.S. federal debt.</p><p style=\"text-align: start;\">The interest expenditure reached a record $1.216 trillion for the full fiscal year, up $83 billion, or 7%, from fiscal 2024, making it the second-largest expenditure item after Social Security. Expenses for that program reached $1.647 trillion, up $127 billion, or 8%, from the prior fiscal year.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US Budget Deficit Falls $41 Billion to $1.775 Trillion in Fiscal 2025 As Tariffs, Debt Payments Both Saw New Records</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS Budget Deficit Falls $41 Billion to $1.775 Trillion in Fiscal 2025 As Tariffs, Debt Payments Both Saw New Records\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1032215980\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2025-10-17 11:48</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>The U.S. budget deficit shrank by $41 billion to $1.775 trillion in the 2025 fiscal year, despite a $118 billion increase in revenues from President Donald Trump&#39;s tariffs, the Treasury Department reported on Thursday.</p><p style=\"text-align: start;\">The results for the year ended September 30, which include nearly nine months of Trump&#39;s second term in the White House, compared to a $1.817 trillion deficit in fiscal 2024. It was the first time the annual deficit had fallen since 2022, when the unwinding of COVID-19 relief programs brought spending down.</p><p>The smaller deficit was aided by a record $195 billion in net customs receipts for the fiscal year, an increase of $118 billion from the prior year as new Trump tariffs rolled in.</p><p style=\"text-align: start;\">Customs receipts in September reached a new record high of $29.7 billion, but the pace of increase slowed from August, when $29.5 billion was collected.</p><p style=\"text-align: start;\">Total receipts for fiscal 2025 were a record $5.235 trillion, up $317 billion, or 6%, from the $4.918 trillion in fiscal 2024.</p><p style=\"text-align: start;\">Fiscal 2025 outlays also were a record at $7.01 trillion, up $275 billion, or 4%, from the $6.735 trillion in the prior fiscal year.</p><h3 id=\"id_305117267\">TREASURY REPORTS RECORD SURPLUS FOR MONTH OF SEPTEMBER</h3><p style=\"text-align: start;\">A U.S. Treasury official said the department calculated an estimated deficit-to-GDP ratio of 5.9% for fiscal 2025, but declined to say what GDP estimate was used. This figure compares to an actual 6.3% deficit-to-GDP ratio for fiscal 2024.</p><p>For the 2025 fiscal year&#39;s final month of September, the Treasury reported a record surplus of $198 billion, up $118 billion, or 147%, from the same month in the prior year. September is often a month of surplus due to quarterly tax filing deadlines for companies and individuals.</p><p style=\"text-align: start;\">Receipts last month were up $17 billion, or 3%, to $544 billion, while outlays were down $101 billion, or 23%, to $346 billion.</p><p style=\"text-align: start;\">The latest monthly surplus was boosted by a $131 billion cut to the Department of Education budget that was mandated in the spending and tax-cut bill passed by the Republican-controlled Congress in July. For September, the education outlays were $123 billion lower than in September 2024.</p><p style=\"text-align: start;\">For the full 2025 fiscal year, the Department of Education suffered the biggest cut in outlays, down $233 billion, or 87% from the prior year to just $35 billion.</p><p>That cut and the higher customs receipts masked continued increases in outlays for the Social Security retirement plan, the Medicare and Medicaid healthcare programs and interest on the U.S. federal debt.</p><p style=\"text-align: start;\">The interest expenditure reached a record $1.216 trillion for the full fiscal year, up $83 billion, or 7%, from fiscal 2024, making it the second-largest expenditure item after Social Security. Expenses for that program reached $1.647 trillion, up $127 billion, or 8%, from the prior fiscal year.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20251016:nS0N3VH00A:1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2576554724","content_text":"The U.S. budget deficit shrank by $41 billion to $1.775 trillion in the 2025 fiscal year, despite a $118 billion increase in revenues from President Donald Trump's tariffs, the Treasury Department reported on Thursday.The results for the year ended September 30, which include nearly nine months of Trump's second term in the White House, compared to a $1.817 trillion deficit in fiscal 2024. It was the first time the annual deficit had fallen since 2022, when the unwinding of COVID-19 relief programs brought spending down.The smaller deficit was aided by a record $195 billion in net customs receipts for the fiscal year, an increase of $118 billion from the prior year as new Trump tariffs rolled in.Customs receipts in September reached a new record high of $29.7 billion, but the pace of increase slowed from August, when $29.5 billion was collected.Total receipts for fiscal 2025 were a record $5.235 trillion, up $317 billion, or 6%, from the $4.918 trillion in fiscal 2024.Fiscal 2025 outlays also were a record at $7.01 trillion, up $275 billion, or 4%, from the $6.735 trillion in the prior fiscal year.TREASURY REPORTS RECORD SURPLUS FOR MONTH OF SEPTEMBERA U.S. Treasury official said the department calculated an estimated deficit-to-GDP ratio of 5.9% for fiscal 2025, but declined to say what GDP estimate was used. This figure compares to an actual 6.3% deficit-to-GDP ratio for fiscal 2024.For the 2025 fiscal year's final month of September, the Treasury reported a record surplus of $198 billion, up $118 billion, or 147%, from the same month in the prior year. September is often a month of surplus due to quarterly tax filing deadlines for companies and individuals.Receipts last month were up $17 billion, or 3%, to $544 billion, while outlays were down $101 billion, or 23%, to $346 billion.The latest monthly surplus was boosted by a $131 billion cut to the Department of Education budget that was mandated in the spending and tax-cut bill passed by the Republican-controlled Congress in July. For September, the education outlays were $123 billion lower than in September 2024.For the full 2025 fiscal year, the Department of Education suffered the biggest cut in outlays, down $233 billion, or 87% from the prior year to just $35 billion.That cut and the higher customs receipts masked continued increases in outlays for the Social Security retirement plan, the Medicare and Medicaid healthcare programs and interest on the U.S. federal debt.The interest expenditure reached a record $1.216 trillion for the full fiscal year, up $83 billion, or 7%, from fiscal 2024, making it the second-largest expenditure item after Social Security. Expenses for that program reached $1.647 trillion, up $127 billion, or 8%, from the prior fiscal year.","news_type":1,"symbols_score_info":{".SPX":1.1,".DJI":1.1,".IXIC":1.1}},"isVote":1,"tweetType":1,"viewCount":4338,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":472130794889912,"gmtCreate":1756302090447,"gmtModify":1756302640943,"author":{"id":"4194744888979592","authorId":"4194744888979592","name":"Bubi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4194744888979592","authorIdStr":"4194744888979592"},"themes":[],"title":"","htmlText":"<a href=\"https://ttm.financial/S/TIGR\">$Tiger Brokers(TIGR)$ </a> as I said usually it beats everything in earnings but fall sharply.. so strange&nbsp;","listText":"<a href=\"https://ttm.financial/S/TIGR\">$Tiger Brokers(TIGR)$ </a> as I said usually it beats everything in earnings but fall sharply.. so strange&nbsp;","text":"$Tiger Brokers(TIGR)$ as I said usually it beats everything in earnings but fall sharply.. so strange","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/472130794889912","isVote":1,"tweetType":1,"viewCount":2125,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}