Hong Kong-listed Zhipu’s shares surged over 30% in afternoon trading, as the company put into operation a 1GW domestic computing power center and completed the acquisition of Zhongke Jiahe.

According to official announcements, Grayscale has appointed Sebastian Pulido as Head of On-Chain Asset Management, where he will lead the firm’s on-chain product strategy. Sebastian previously held roles at Aave Labs, Goldman Sachs, and JPMorgan’s Kinexys team, bringing extensive experience in institutional finance and digital assets.

Blockchain infrastructure developer Jito Labs has announced the launch of JTX, a Solana-based self-custody trading platform designed exclusively for professional traders. JTX initially offers spot trading, supporting a variety of Solana ecosystem assets including cbBTC, SOL, HYPE, and meme coins, alongside trading for tokenized real-world assets (RWAs) such as stocks and ETFs. The platform also integrates professional trading features tailored for on-chain markets.

According to Bitget's market data, WTI crude oil has climbed above $85 per barrel, with an intraday gain of 2.52%.

Kalshi is seeking approval from the U.S. Commodity Futures Trading Commission (CFTC) to launch gold-linked perpetual futures products.

Morgan Stanley’s strategy team, led by Mike Wilson, stated that after the semiconductor sector’s 20% correction, broader industry segments could drive further market gains. “On the contrary, we believe the market’s broadening trend will persist. Once this correction ends, broader industry segments will push the market higher before the end of the year,” the team noted. Morgan Stanley added that consumer discretionary and transport sectors may benefit, as expectations of improved earnings in these areas have not yet been fully priced into their stock prices. The firm favors large-scale cloud computing companies over chip firms in the coming months. However, Wilson’s team pointed out that cloud stocks have risen roughly 30% more than chip stocks over the past three weeks, so their current risk-reward ratio has declined. Morgan Stanley remains bullish on large tech firms, citing their strengths including stable core businesses, the growth potential of generative AI, and profit-enhancing capabilities. The firm maintains its year-end S&P 500 target of 8,000, but warns that the index could fall back to around 7,000 if momentum trading reverses broadly or the Middle East conflict escalates further.

Pre-market key news for US stocks: 1. Trump will impose new tariffs on dozens of countries as early as this week. 2. Trump has agreed to the ethics provisions of the CLARITY Act, which is nearing a Senate vote. 3. The "hidden debt" of America's five largest tech giants has surged to $1.65 trillion. 4. JPMorgan Chase CEO: Investors are underestimating market risks, and will not buy stocks or long-term US Treasuries for now. 5. Goldman Sachs: If the Strait of Hormuz remains blocked long-term, international oil prices could exceed $120 per barrel by the end of the year. 6. AI storage demand rises further: Nvidia’s CMX is expected to consume over 100 million TB of NAND next year, with Samsung already commencing supply.