South Korea's KOSPI index closed higher, with SK Hynix rising 1.13%.

Indian Prime Minister Narendra Modi has called on Indian citizens to avoid buying gold unless necessary, renewing his earlier appeals to curb gold demand amid pressure on India’s economy from a widening trade deficit and a weakening rupee. The remarks come as local Indian media report the government is considering lowering import tariffs on gold and silver, after previous tariff hikes failed to stem inflows of the precious metals. This marks the second time Modi has made such a call this year. In May, he had urged Indians to refrain from purchasing gold for at least one year to conserve foreign exchange reserves. Gold is India’s second-largest import commodity after oil, and a major driver of its trade deficit. In the first four months of the current fiscal year (which began in April), India’s gold imports rose more than 32% year-on-year, further weighing on the rupee. India’s trade deficit widened to nearly $32 billion in July, hitting its highest level since January this year. Modi stated in an online video: “Don’t buy gold unless it’s necessary.” He noted that with wars disrupting global supply chains, India needs to boost economic self-sufficiency to sustain growth. He also called on the public to buy domestic products and avoid overseas trips for tourism and weddings. (Jinshi)

Beating AI News: Behind Anthropic’s Google computing power deal, a roughly $200 billion financing and contract ecosystem has been set up. The Financial Times reports that around 80% of this structure is tied to TPU chips. Anthropic does not need to front all the capital itself; funds for chip purchases come mainly from Wall Street, while Google and Broadcom provide backing for data centers and chips respectively. The first batch of TPU chips, totaling ~$35 billion and 1GW, is first sold by Google to Broadcom, then transferred to a special purpose vehicle (SPV)—a financing entity established exclusively for this transaction. Firms including Apollo and Blackstone provide debt financing to the SPV, which buys roughly 1 million TPU chips and leases them to Anthropic. Broadcom offers residual value support for around $30 billion of this amount. If Anthropic defaults on rent payments later and proceeds from selling the TPU chips are insufficient to repay debts, Broadcom will cover the shortfall for senior creditors. Data centers are backed by Google’s guarantees: Google underwrites Anthropic’s leases, enabling developers to borrow funds for data center construction using Google’s credit. The FT notes that Google has supported 10 projects totaling 2.4GW, with a maximum potential exposure of around $440 billion. The full chain operates as: Wall Street funds chip purchases, Anthropic pays rent, Broadcom guarantees chip residual value, and Google backs data center leases. A multi-hundred-billion-dollar computing power order is thus split into layers of financing and guarantees.

MGBX has officially announced a brand refresh and upgrade, unveiling its new slogan: "One-stop Trading, Connecting Global Opportunities". The overhaul spans brand positioning, visual identity, and product experience. Official touchpoints including MGBX’s logo, website, mobile app, and social media channels will be gradually refreshed, with UI and interactive experience optimized in tandem to deliver clearer interfaces, smoother operations, and more efficient transactions. The MGBX team noted that while it continues to upgrade its brand image and product experience, its commitment to user experience and asset security remains unwavering.

The A-share market fluctuated and adjusted throughout the trading day, with all three major indexes closing lower. By the close, the Shanghai Composite Index fell 0.16%, the Shenzhen Component Index dropped 1.02%, and the ChiNext Index declined 1.32%. Agricultural stocks bucked the trend to rally, while computing power hardware stocks including PCB saw declines. Today’s trading volume stood at 2.05 trillion yuan.

The Cronos network has resumed operations and restarted block production. The network was temporarily suspended earlier to protect users from vulnerabilities in the Tectonic protocol, and a full post-mortem analysis report will be released soon.

Yilihua, founder of Liquid Capital, stated in a social media post that the core of investing has never been spreading capital evenly across multiple assets, but rather focusing on a small number of star enterprises capable of generating excess returns. Duan Yongping’s first investment move after transitioning from entrepreneurship came in 2002, when he used $2 million to buy undervalued NetEase shares trading below $1. Holding the stock for 8 years, he earned over 100 times his initial investment, netting more than $260 million—cementing his status as a legendary investor and launching his iconic investment career. Every technological revolution brings abundant opportunities for excess returns. In the early days of the crypto industry a decade ago, holding Bitcoin or investing in high-quality projects yielded numerous 100x return cases. The AI industry is now in the same early explosive phase, with a large number of promising targets waiting to be discovered in both Chinese and U.S. markets. The core goal of AI investment today is to capture the most explosive star enterprises in this AI wave.