US DOJ unsealed indictment charges Super Micro co-founder Liao I-Hsien and two others with smuggling Nvidia AI servers to China via Southeast Asia, involving $2.5 billion. SMCI shares fell over 12% after hours.

Bitcoin held near $66,000 after briefly rising above $66,900, but traders continued to focus on a heavy resistance zone between $67,000 and $68,000, including the weekly 200 EMA near $68,328. Analysts cited by the source said the area also lines up with the average cost basis of investors over the past five months and the failed rebound point seen in mid-June, making it a likely zone for sharp price reactions. If BTC clears $68,000, bulls may gain room to extend the move. If not, the market could retest support near $63,000. The report also pointed to softer participation across the crypto market. Vetle Lunde, head of research at K33 Research, said CME Bitcoin futures open interest has dropped to its lowest level since 2023, while spot trading activity remains weak, describing the move more as a low-liquidity summer rebound than the start of a broad bull run. On flows, U.S. spot Bitcoin ETFs posted a net inflow of $203 million for a sixth straight day, while spot Ethereum ETFs added $37.471 million for a third consecutive day. Outside crypto, U.S. equity index futures moved lower and names that surged the previous session in semiconductors and memory fell back in late trading. The broader report also tracked moves in AI infrastructure, energy markets, Treasury yields, crypto-related U.S. stocks, and Asian markets including South Korea and Japan.

U.S. equities rebounded Tuesday, ending a three-session losing streak, with the Dow Jones Industrial Average up 0.74%, the S&P 500 up 0.89%, and the Nasdaq Composite gaining 1.29%. The move was led by technology shares, especially semiconductors and AI hardware names, after some of the market’s hardest-hit momentum stocks bounced sharply. Still, the broader tone stayed cautious. BTIG strategist Jonathan Krinsky said the advance looked less convincing beneath the surface because market breadth remained weak and trading volume was light. Goldman Sachs noted that high-volatility tech stocks had fallen as much as 33% in a short period, leaving the group deeply oversold and vulnerable to short covering. Goldman and UBS said the momentum selloff may be nearing its end, while BTIG argued the rebound was approaching resistance. At the same time, rising geopolitical tension between the U.S. and Iran pushed Brent crude back above $91 a barrel and WTI above $85, reviving inflation concerns and sending Treasury yields higher. In equities, memory-chip names led the surge: Micron rose 12.17%, SanDisk 14.27%, SK Hynix 13.75%, Western Digital 12.51%, and Seagate 11.14%. Investors also tracked tariff signals from Washington, upcoming earnings from Tesla and Google, and a major share lockup event approaching for SpaceX.

Crypto markets on July 22 were shaped by a mix of price action, regulatory developments, project updates, and financing news. Among the most-traded assets on centralized exchanges, BTC rose 1.77%, ETH gained 1.27%, XRP added 2.68%, and ADA climbed 2.47%, while DEXE fell 83.73%. OKX data showed NIGHT leading the 24-hour gainers at 27.05%, and msx.com’s crypto-equity board was led by GREE.M at 42.25%. The day’s headline items centered on Kalshi and Movement Labs. Kalshi has reportedly filed with the U.S. Commodity Futures Trading Commission to launch gold-linked perpetual futures. Movement Labs, the developer behind the Movement blockchain, filed for Chapter 11 bankruptcy protection after earlier scrutiny over a market-making agreement that allowed the rapid sale of 66 million MOVE tokens, followed by a sharp price drop, an investigation, and a token buyback. Other developments included SpaceX setting Aug. 4 for its 2026 second-quarter earnings release, with insider share unlocks due to begin two days later; the U.S. Department of Justice seizing more than $25 million in crypto tied to alleged cross-border investment fraud; Polymarket registering a standalone X account for Polymarket Perps; Robinhood opening trading accounts to AI agents; and Telegram founder Pavel Durov saying Telegram plans to roll out a native self-custodial Gram wallet across all apps this summer.

JPMorgan raised its global server shipment growth forecasts for 2026 through 2028, arguing that AI inference, rather than training alone, is becoming the main force supporting the market. The bank lifted its 2026 server shipment growth estimate from 15% to 22% and its 2027 forecast from 8% to 25%, saying enterprises need more inference servers as they put AI models into real-world applications. The report drew a clear contrast with the PC market. JPMorgan said first-half PC demand came in better than expected, but attributed that strength to pre-price-hike inventory loading by brands and replacement demand tied to Windows 10, factors it viewed as front-loading demand rather than signaling a durable recovery. For 2026, the bank expects PC shipments to fall 8%, including a 14% drop in consumer PCs and a 4% decline in commercial PCs. JPMorgan also argued that supply, not demand, is the real bottleneck in servers. It said server demand is running 35% to 40% higher year over year, but shipment growth in 2026 can only reach 22% because of constraints in CPUs, substrates, memory, PCBs, passive components and power devices. The report also highlighted uncertainty around Nvidia’s roadmap and said value creation is shifting toward component suppliers.

Super Micro Computer shares sank more than 25% after U.S. prosecutors charged three people tied to the company in an alleged scheme to divert restricted AI server technology to China. While the company was not charged, investors fear reputational and compliance risks.

Super Micro Computer shares plunged after U.S. prosecutors charged three people tied to the company in an alleged scheme to divert restricted AI server technology to China. The case has revived investor concerns over compliance and corporate governance.

Super Micro Computer's stock crashed over 28% on Monday after US prosecutors charged three individuals, including co-founder Wally Liaw, with illegally diverting $2.5 billion worth of AI server technology to China. The company itself was not charged, but investors fear reputational and regulatory fallout.