Storage chip stocks have suffered sharp declines in recent days, with a semiconductor giant’s 4 million position on the verge of liquidation.

Chinese President Xi Jinping attended the opening ceremony of the 2026 World Artificial Intelligence Conference and High-Level Conference on Global Governance of Artificial Intelligence, delivering a keynote speech in which he cited the Chinese saying: "A single string cannot make music, nor can a single tree form a forest." He noted that AI development should not be a solo performance by one country, but a symphony of global cooperation, and called for open source, openness, cooperation and sharing to enable all industries to leverage AI. Xi also stressed the need to ensure AI remains under human control, urging countries to establish legal and regulatory frameworks, technical monitoring mechanisms, risk early warning systems and emergency response systems to prevent AI abuse. He further opposed the overgeneralization of the national security concept and the practice of prioritizing one’s own country’s security over that of others, adding that AI should not undermine the cultural identities of various countries or the diversity of world civilizations. China will cooperate with Asian, African, Latin American and BRICS nations to help developing countries build AI capabilities and avoid AI-driven new global inequalities. The China-US AI competition is expanding from chips and models to open source paths and global rule-setting.

According to Bitget's market data, the Nikkei 225 index plummeted 5% intraday and is currently trading at 63,481.92 points.

Prime brokerage data shows hedge funds are cutting their exposure to AI-related stocks, explaining why strong earnings and upbeat guidance failed to prevent chip stocks from falling. According to a Wall Street Journal report citing data from Goldman Sachs’ prime brokerage business, hedge funds’ exposure to a basket of AI-themed stocks has dropped to its lowest level this year. The basket includes previously high-flying AI hardware and semiconductor stocks such as AMD, Micron, and Nvidia. Goldman Sachs data indicates that the recent decline is more of profit-taking and position adjustment rather than a sudden deterioration in fundamentals. This round of position reduction occurred after chip stocks had rallied sharply. Despite TSMC’s strong results and ASML’s upward guidance, semiconductor stocks were still sold off; the PHLX Semiconductor Index fell more than 4% on Thursday. Goldman Sachs’ relevant strategy view suggests that some funds are considering shifting from the crowded chip trade to hyperscalers that have underperformed this year, such as Meta, Alphabet, and Oracle.

Chinese President Xi Jinping attended the opening ceremony of the 2026 World Artificial Intelligence Conference (WAIC) and the High-Level Conference on Global AI Governance at the Shanghai World Hall, delivering a keynote address. Xi noted that with joint efforts from all parties, the World Artificial Intelligence Cooperation Organization was established in Shanghai. This is a major initiative by China in response to the calls from Global South countries and to rally the international community to actively promote AI development and governance, marking an important milestone in the history of AI development. Xi announced that to further support global AI development and advance global AI capacity building, over the next five years, China will provide 5,000 special AI training places for developing countries; build international AI application cooperation centers for ASEAN, the Arab League, the African Union, the Community of Latin American and Caribbean States (CELAC), the Shanghai Cooperation Organization (SCO), and BRICS; and promote the implementation of the "Mazu" intelligent meteorological early warning system in 30 countries, to safeguard the well-being of millions of households and ensure stability across regions.

According to data from Farside Investors, U.S. spot Bitcoin ETFs posted a combined net inflow of $79.1 million yesterday. Of that total, BlackRock’s IBIT attracted $33.4 million, Fidelity’s FBTC $30.7 million, and Bitwise’s BITB $15 million, with no inflows reported for the remaining ETFs. For Ethereum ETFs, the segment saw a total net outflow of $28 million yesterday. Breakdowns: FETH had a net outflow of $11.2 million, ETHE $4.8 million, and ETH-related funds $14.3 million; ETHW logged a net inflow of $2.3 million, while BlackRock’s ETHA saw no inflows.

According to Lookonchain’s monitoring, a whale linked to a16z that had previously amassed large HYPE holdings has begun reducing its positions. Over the past two days, the whale has deposited 437,000 HYPE tokens worth approximately $28.38 million onto Hyperliquid, OKX, Bybit, and Gate, likely for selling purposes.