On June 25, 2026, three seemingly scattered news items connected different temperatures of the same AI industry chain: on one end, the team of only about 20 people at Mirendil completed a $200 million seed round financing, backed by a16z, Kleiner Perkins, and NVIDIA, yet has not disclosed a clear business direction; on the other end, BiyaPay launched its “World Cup Carnival Season” during the World Cup, offering zero transaction fees and rewards like watching the final in a VIP box to seize payment gateways and traffic; upstream, investor Serenity relayed Micron's CEO's judgment on social platforms — the memory demand cycle driven by humanoid robots is expected to last for decades and may start within the next ten years, with the memory requirement of a single humanoid robot being approximately ten times that of L2+ level self-driving cars. Within the framework of “gold miners and shovel sellers,” Mirendil represents the gold miner betting on the future application gold mine, BiyaPay uses subsidies to build traffic channels to service the gold rush, and the memory demand brought by humanoid robots corresponds to a longer-term “shovel seller” narrative. Although there is no publicly disclosed direct business connection among the three, the market interpreted them concurrently on the same day, reflecting not a concern for short-term revenue or landing pace, but a deliberate choice to bet on a long-term AI growth story spanning at least a decade.
$200 Million Invested in Mirendil and Top Talent
In the disclosed $200 million seed round on June 25, 2026, the most striking figure is not the "$200M" itself but the "about 20 people" team size: it is not uncommon in early financing to sustain a team of over a hundred with the same amount of money, but Mirendil focuses that same fund on a core team of only a few dozen people, indicating that capital has essentially placed almost all pricing pressure on "people" — several core members come from Anthropic, xAI, Google DeepMind, and OpenAI, packaging the resumes of several top laboratories into an asset portfolio, reflecting the market's extreme premium on the general AI application capability and talent assets.
From the perspective of the funders, this premium is further amplified: top venture capital firms like a16z, Kleiner Perkins, and industry players like NVIDIA entered the stage simultaneously. Funds that should have conflicting interests in valuation and path reached a consensus on a project that has yet to disclose specific business directions, product forms, technical routes, or even valuation information, which can almost be seen as a collective vote for “first locking in the team and track space, then looking at commercialization details.” In the early stages of this AI “gold rush,” the $200 million obtained by Mirendil seems more like a long-term option, with the underlying assets not being fully formed products or short-term revenues, but a future growth range guaranteed by top talents and general AI imagination.
Zero Transaction Fees Combined with World Cup Fever: The BiyaPay Battle
Synchronously with capital buying into “future imagination” at Mirendil, BiyaPay chose to directly bypass the narrative on June 25, 2026, and launched a user acquisition battle starting from traffic. The officially launched "World Cup Carnival Season" packed rewards like “0 transaction fees” and “win the right to watch the World Cup final in a VIP box” into a set of customer acquisition combos, specifically targeting the 2026 World Cup, the most globally highlighted sports event in June and July. In such a scenario with strong emotions and real-time intensity, payment tools often become the most frequently accessed infrastructure; zero transaction fees essentially lower the usage threshold directly, using subsidies to occupy more payment scenarios.
From industry experience, high-intensity subsidies to achieve user growth and transaction activity are standard tactics for payment platforms during competitive periods, while major sports events provide a one-time amplified natural traffic entrance. In the current environment dominated by dual narratives of AI and “traffic,” computing power and models are the upstream “hardware options,” and payment companies use fee concessions and activities with high perceptibility prizes to accelerate the conversion of this wave of traffic into repeatable accounts, transaction habits, and data assets. BiyaPay has not disclosed the end time and effect data of the “World Cup Carnival Season,” but in this competition for the World Cup node using 0 transaction fees as chips, the real variable does not lie in the existence of subsidies, but in who can retain a core user group with higher stickiness and potential value after the subsidies recede.
Humanoid Robots Bet as Next-Generation Memory Engines
Looking upstream from the payment and traffic battle, the market has begun to weave a longer demand curve for the “shovel sellers.” On June 25, 2026, investor Serenity relayed the viewpoint of Micron's CEO on social platforms: after experiencing three waves of memory demand engines in smartphones, data centers, and autonomous driving over the past decade, humanoid robots are expected to become the next generation of memory drivers. Even more aggressively, the cyclical hypothesis suggests — this memory demand cycle driven by humanoid robots is expected to last for several decades, with the real tide of expansion believed to likely start within the next decade, which effectively pulls the hardware narrative timeline directly into the 2030s or even further.
Supporting this imagination is a simple and stark comparative scale: according to Serenity's relayed statement, the memory demand of a single humanoid robot is about ten times that of current L2+ level self-driving cars. This visually obvious “×10” factor provides a narrative hook for estimating potential shipment volume and industry ceilings. It is important to emphasize that the related briefing clearly stated that this statement should not be seen as Micron's official forecast or investment advice, nor does it provide more detailed technical and cost documentation, thus closer to a highly elastic market expectation anchor point. For current AI hardware funding, this “decades-long sustainability and activation in a decade” long-cycle story itself is a part of asset pricing, while what truly determines returns is whether humanoid robots can scale deployment as expected along that timeline.
The Transmission Chain from AI Financing to Hardware Cycle
The three pieces of information amplified by the market discussion on the same day sketch a complete spectrum from the application end to the hardware end. Mirendil secured a $200 million seed round with a team of fewer than 30, with a typical “gold miner” narrative being: positioning in the AI application layer ahead of time, betting that a certain yet undisclosed product form and business model can run through a high-growth curve. At the same time, BiyaPay was vying for transaction and traffic entrance using the zero transaction fees and final box rewards from the “World Cup Carnival Season,” which does not directly produce AI capability but does subsidies for scale on payment and user paths, engaging in a service competition around traffic and settlement infrastructure.
Serenity's relayed viewpoint from Micron’s CEO pulls the other end of this chain towards a longer time dimension: if humanoid robots start scaling within the next decade, the single machine's memory demand could be about 10 times that of L2+ level autonomous driving, representing a multi-decade growth story in a “shovel seller” style for underlying hardware suppliers like storage. It is crucial to emphasize that the brief has clearly stated that there is no disclosed business cooperation or causal relationship among the three and should only be regarded as parallel signals where capital, platforms, and hardware are each betting at different levels under the same AI wave. For investors, this multilayered bet crossing applications, traffic entrances, and underlying hardware itself is the true structure of asset pricing in the current AI wave.
Burning Money, Subsidies, and Expected Risks
From Mirendil's $200 million seed round to BiyaPay using zero transaction fees and final box rewards to drive trade activity, and then to the relayed “humanoid robots will initiate a decades-long memory demand cycle,” all three clues are pricing for “long-term growth,” but the rhythm and risk of the realization path are not on the same scale: Mirendil has only provided the team size and the financing amount, completely leaving blank their business direction, product form, and technical routes, making it difficult to determine which business hypothesis this money is being burned for in advance; BiyaPay's activity policy terms are clear, yet the end date, user participation scale, transaction volume changes, and subsidy costs are not disclosed, leaving only speculation about whether the subsidies led to high-quality retention or short-term exploitation; as for the memory demand comparison brought by humanoid robots (about ten times that of L2+ level autonomous driving) and the cyclical statement of “initiating in the next ten years, lasting for decades,” it stems from investor Serenity's personal relay of Micron's CEO, lacking comprehensive evidence and cannot be viewed as official forecasts or revenue estimates at the company level. For investors, the only verifiable data are hard facts like financing amount, activity structure, and demand scale comparisons; all detailed predictions about cycle length, activation time, and the penetration speed of humanoid robots at the time of June 25, 2026, can only be treated as subjective expectations rather than established facts. The real risk to manage is, under the overlap of information gaps and long stories, inadvertently mistaking “plausible narratives” for “validated realities.”
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