Sources: South Korea's Foreign Exchange Stabilization Fund has purchased approximately $20 billion in funds.

Beating AI News: Google has started the gray-scale rollout of Gemini 3.8 Flash to its Gemini App. When users directly inquire about the current model in the Gemini App, it responds with "Gemini 3.8 Flash". Last week, Business Insider obtained internal screenshots showing Gemini 3.8 Flash Preview appearing on Google’s internal coding platform Jetski. A testing employee said the new model is noticeably better than Gemini 3.7 Flash. Gemini 3.8 Flash’s internal codename is "skimaki". The update mainly fixes issues exposed in Gemini 3.7 Flash, while also cutting down on templated, verbose "AI fluff". Gemini 3.7 Flash was released only on August 13, meaning the interval between the two versions is less than three weeks.

According to monitoring by Onchain Lens, a whale’s execution wallet has accumulated purchases of 155,980 HYPE tokens, valued at approximately $12.91 million, at an average price of around $82.77. The tokens were subsequently transferred to another wallet and staked. The wallet currently holds roughly 4.34 million USDC and continues to buy HYPE.

Iran's Revolutionary Guard said in a statement that two oil tankers were hit by mine attacks in the Strait of Hormuz and have suspended navigation.

According to BIT (bit.com) market data, Dell Technologies' pre-market trading rose nearly 10%. The company raised its full-year guidance beyond expectations, posted a record-high Q2 revenue, fueled by explosive demand for AI servers.

According to BIT (bit.com) market data, U.S. pre-market trading on Wednesday saw the semiconductor, storage, and optical communications sectors all edge lower. Semiconductor stocks were broadly down: Lam Research (LRCX) fell 0.2%, Intel (INTC) dropped 1.01%, Applied Materials (AMAT) declined 0.42%, and Arm (ARM) fell 1.09%. The storage sector also trended lower, with SK Hynix (SKHY) down 0.93%, Micron Technology (MU) slipping 0.6%, Western Digital (WDC) falling 0.65%, SanDisk (SNDK) dropping 0.58%, and Seagate Technology (STX) declining 0.68%. Optical communications-related stocks led the declines: Astera Labs (ALAB) fell 1.3%, Applied Optoelectronics (AAOI) dropped 1.14%, Coherent (COHR) declined 1%, Credo (CRDO) plummeted 8.77%, and Lumentum (LITE) fell 1.2%.

Beating AI News Brief: Southbound funds have made domestic large language model (LLM) companies the top Hong Kong-listed stocks purchased by them for two consecutive months. In July, Zhipu AI was the most bought Hong Kong stock by southbound funds, with buying volume exceeding that of Alibaba and Tencent. In August, the top spot shifted to MiniMax, with monthly purchases totaling HK$10.6 billion, also outstripping Alibaba and Tencent. MiniMax attracted capital even faster after its Hong Kong Stock Connect debut. It only officially joined the program on August 6, so mainland investors could not access it via this channel before that. On its first trading day, southbound funds net bought HK$2.697 billion; on the second day, they added HK$2.226 billion, bringing the two-day total to over HK$4.9 billion. In less than a month, southbound funds’ shareholding in MiniMax surged to 9.7%. Zhipu AI was added to the Stock Connect earlier, joining on June 8. It saw HK$920 million in net southbound buying on its first day, followed by net purchases of HK$13.7 billion across five consecutive trading days in July’s first week, plus another HK$10.6 billion the next week. Currently, southbound funds hold around 11% of Zhipu AI’s shares, a larger stake than in MiniMax. Both companies remain in a phase of high growth and heavy losses. MiniMax reported first-half revenue of US$116.6 million, up 283% year-over-year, but posted a net loss of US$358 million. Zhipu AI generated RMB 954 million in revenue over the same period, up roughly 400% year-over-year, with a net loss of approximately RMB 2 billion.