According to BlockBeats, on July 24, the New York Times reported that Iranian and Iraqi officials revealed that Iran rejected a ceasefire proposal put forward by US President Trump on Thursday, which was delivered to Tehran by the Iraqi prime minister.

The mediation efforts ultimately failed, and in the meantime, Trump threatened to escalate the war and considered taking action against Iran's critical infrastructure.

According to BlockBeats, on July 24th at 12:01 PM ET (12:01 PM Beijing time), the United States will implement a new set of import tariffs, with rates ranging from 10% to 12.5%, covering approximately 60 economies. In addition, Trump stated that he is "seriously considering" restarting large-scale military action against Iran and is close to making a decision. Iran wants negotiations, but is not ready; they have not suffered enough. If the Houthi rebels attack ships again, the United States will hold Iran accountable. The United States has deployed B-1 bombers, escalating its attacks on Iran.

According to BIT (bit.com) data, U.S. stocks closed down Thursday: the Dow Jones Industrial Average fell 0.97%, the S&P 500 fell 1.2%, and the Nasdaq Composite fell 2.15%. Micron Technology (MU.O) rose 3%, SK Hynix (SKHY.O) rose 2.5%, Google (GOOG.O) plunged 7%, Tesla (TSLA.O) plunged 14.5%, and SpaceX (SPCX.O) rose more than 2%.

According to HTX market data, Bitcoin is currently trading at $65,190, down 1.05% in the last 24 hours. International oil prices surged on the 23rd. At the close of trading that day, the price of light sweet crude oil futures for September delivery on the New York Mercantile Exchange rose $5.36 to settle at $92.19 per barrel, a gain of 6.17%; the price of Brent crude oil futures for September delivery in London rose $6.62, closing above $100 for the first time since May, at $100.69 per barrel, a gain of 7.04%.

According to Yonhap News Agency, on July 24, in response to continuous criticism that the South Korean government implemented its single-stock leveraged investment regulation measures too late, the South Korean government has decided to bring forward the strengthening of basic margin measures, originally scheduled for next month, to July 31, three days earlier than originally planned.

South Korea’s Financial Services Commission (FSC) announced on the 24th that, in order to quickly stabilize market demand, the basic margin strengthening measures originally scheduled for August will be implemented on the 31st.

On the 16th of this month, the Financial Services Commission of South Korea announced a supplementary plan, the core of which includes raising the basic margin requirement from the current 10 million won to 30 million won, and requiring it to be paid in cash only.

According to BlockBeats, on July 24th, DigiTimes released a report stating that NVIDIA's mass production schedule for its 800V HVDC high-voltage direct current power supply architecture for next-generation AI data centers has not been adjusted. Previous market concerns that large-scale adoption, expected in 2027, might be delayed until 2028 or later stemmed primarily from a misunderstanding of the product verification process. SemiAnalysis previously pointed out that the growth of the AI power supply chain might be affected by the delayed adoption of 800V HVDC, but supply chain sources indicate that the core reason for the current delay is the extended design verification time for the first-generation product, rather than a change in the technology roadmap. Related power cabinets, battery backup units (BBUs), battery packs, and supporting components have been resubmitted for verification, and testing is currently progressing smoothly.

Supply chain sources revealed that Delta Electronics, a major Taiwanese power supply manufacturer, is expected to begin small-scale production of its 800V HVDC products by the end of the first quarter of 2027, and gradually increase shipments starting in the second quarter to align with customer deployment schedules. This schedule adjustment is primarily due to the discovery of potential short-circuit risks during initial system verification. As a result, a US customer requested additional testing, leading to extended system design optimization and certification cycles, which in turn affected delivery arrangements for related suppliers such as Delta Electronics, Chien Chung Electric, and Chicony Power. Industry insiders emphasized that the current issue is not that the products cannot be manufactured, but rather that design modifications and customer certification still require time to complete. In the long term, 800V HVDC will remain an important development direction for high-power power supply architectures in AI data centers.

The market's assessment of the declining necessity of 800V HVDC is also considered a misunderstanding by supply chain insiders. NVIDIA's Rubin platform uses a 50V power architecture primarily responsible for power distribution within the server rack, while 800V HVDC is used for high-voltage power supply between the data center and the rack; the two are not mutually exclusive. As Rubin Ultra and subsequent AI platforms drive single-rack power consumption to 600kW to 1MW, traditional AC power supplies and low-voltage architectures will face challenges such as excessive current, increased transmission losses, and heat dissipation pressure. It is expected that ±400V HVDC and 800V HVDC will develop in parallel in the initial stage, with the former serving as a transitional solution and the latter gradually expanding its penetration rate as the platform upgrades and verification are completed. The market generally believes that this adjustment is more of a change in shipment pace than a deterioration in demand. From 2027 onwards, cloud service providers will continue to increase investment in AI infrastructure, which is expected to drive a new growth cycle for power supply and related component manufacturers.