Tesla, Inc. (TSLA.US) CEO Elon Musk said the company will unveil the long-delayed next-generation Roadster electric sports car on October 1, nearly a decade after the previous-generation Roadster.

The next-generation Roadster will reportedly feature a redesigned model, and a limited-edition version developed in collaboration with SpaceX (SPCX.US), equipped with "cold gas thrusters", may also be announced at the launch event.
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Anthropic is in talks to bring in NVIDIA Corporation (NVDA.US) as a cornerstone investor, with the latter considering an investment of up to USD10 billion, Reuters, citing sources, reported.

Anthropic is reportedly seeking to raise USD100 billion in the IPO, with a valuation that could reach about USD2 trillion. Bringing in NVIDIA as a cornerstone investor may strengthen investor confidence in the listing.
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Apple's iPhone 18 Pro series officially kicked off pre-orders on Saturday (12th). During Saturday and Sunday (13th), police received reports from more than 700 people alleging that their credit cards were suspected to have been fraudulently used to purchase phones online, involving around HKD14.7 million. The largest single case involved about HKD114,000. No arrests have been made so far.

A spokesperson for the Hong Kong Monetary Authority said credit card transactions have always required effective measures to ensure security and protect customer interests. Individual merchants may choose not to use or may suspend additional authentication arrangements, such as in-app authentication or one-time passwords, due to operational considerations. In such cases, merchants must bear responsibility and financial losses arising from unauthorized transactions.

The spokesperson emphasized that cardholders should carefully check transaction records. If they suspect or discover unauthorized use of their credit cards, they should notify the card-issuing bank as soon as possible, including immediately disabling the relevant credit card through online banking services. Generally, if a bank credit card account is used for unauthorized transactions and the cardholder has not committed fraud or gross negligence, the cardholder will not be liable for the unauthorized transactions.

An HSBC spokesperson said the bank had noted online discussions indicating that customers of different banks suspected their credit cards had been fraudulently used to order mobile phones. The bank will investigate for customers and, where applicable, initiate chargeback mechanisms according to credit card organization rules.

BOC Hong Kong reminded customers to immediately log into mobile banking to block the relevant credit card if they discover unauthorized transactions. The bank said its credit card customers are protected by refund mechanisms, and customers will not be liable for any verified unauthorized credit card transactions.

A Standard Chartered spokesperson said customers who discover any unauthorized transactions should notify the bank and report the case to police as soon as possible. Customers may also instantly block their credit cards through online banking or SC Mobile. The bank will immediately investigate and follow up according to established procedures and, where applicable, submit refund applications to relevant credit card organizations. If investigations confirm that the transactions were unauthorized by the cardholder, the cardholder will not be responsible for the related payments.

A Hang Seng Bank spokesperson said customers who discover suspicious credit card transactions should immediately freeze their credit cards through the Hang Seng Bank mobile application or contact the bank. During the investigation period, Hang Seng will support affected customers and, where applicable, initiate chargeback mechanisms according to credit card organization rules. The bank reiterated that if customers have used their credit cards reasonably and prudently, the bank will provide full assistance in completing refund procedures.
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OpenAI's GPT-6 Astra marks a new phase for frontier AI, demonstrating leading capabilities in computer usage, scientific research and professional work, CLSA said in a research report. Beyond improvements in benchmark testing, the shortening model iteration cycle is increasing the importance of product experience and brand premium.

Meanwhile, rising training compute demand is reinforcing the scale advantages of leading frontier laboratories. In the broker's view, these trends will expand the AI total addressable market and accelerate progress toward more autonomous research systems and ultimately artificial superintelligence (ASI).

Training compute intensity has once again become an investor focus. NVIDIA Corporation (NVDA.US) founder and CEO Jensen Huang disclosed that Astra was trained using more than 100,000 Grace Blackwell chips, while the next-generation training cluster accelerator could exceed 400,000 units, highlighting the capital-intensive nature of frontier AI.

Based on the broker's estimates, calculated by revenue relative to inference and training compute costs, Anthropic's compute multiple will reach 1.8x in 2Q26 and the company has already achieved profitability, leading globally, while Chinese peers are at around 0.4x.

US peers have already entered competition involving more than 10 trillion parameters, while Chinese laboratories remain at the 3 trillion parameter level. The key challenge in narrowing the capability gap lies in compute supply constraints, partially offset by greater emphasis on post-training, infrastructure efficiency and test-time compute.
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Daiwa issued a research report on Apple Inc. (AAPL.US), of which autumn product launch event this year was hosted by new CEO John Ternus, featuring the foldable iPhone Duo, as well as the iPhone 18 Pro/Pro Max, Watch Series 12/Ultra 4, Apple Intelligence, Siri and AirPods 5.

The broker opined the launch event generally followed a normal pace and largely met expectations, while the launch of Duo may have slightly exceeded expectations. Apple's core ecosystem and customer lock-in/loyalty continue to drive revenue and earnings growth.

This view has been supported over the past 12 months, as the broker estimated the iPhone business will record approximately 20% YoY growth in FY2026, delivering strong performance amid a challenging macro environment.

The broker maintained a positive view on Apple, citing its strong ecosystem and premium products, and expressed particular confidence in Duo. The biggest concern is that the comparison base for the iPhone business in FY2027 will become evidently higher. The broker maintained its Outperform rating on Apple.
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CXMT (688825.SH) recorded an EBIT margin of 82% in 2Q26, leading global competitors and toppling Micron Technology, Inc. (MU.US), Sandisk Corporation (SNDK.US), SK hynix Inc. (SKHY.US), Samsung Electronics and Kioxia, data from Quick FactSet and company disclosure showed.

CXMT produces DRAM used in various devices ranging from smartphones to data centers. Its customers include BABA-W (09988.HK), ByteDance and TENCENT (00700.HK), among other Chinese technology groups.

Although CXMT's absolute profit level remained below that of South Korean competitors and Micron Technology, it was still higher than NAND flash memory makers Kioxia and Sandisk.

SK hynix, Samsung and Micron Technology are focusing on high bandwidth memory (HBM), resulting in insufficient production of general-purpose chips and driving a sharp rise in prices of CXMT's key DDR5 products.
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Chinese chipmaker ENFLAME TECHNOLOGY (688801.SH) debuted on Shanghai's STAR Market this morning (11th), opening at RMB410 per share, 188.37% higher than its IPO price of RMB142.18 per share. The company is developing domestic products that could replace offerings from US competitors such as NVIDIA Corporation (NVDA.US).

ENFLAME TECHNOLOGY's IPO saw strong demand, with the retail tranche oversubscribed by more than 6,000 times, prompting the company to reallocate additional shares to retail investors.

Backed by TENCENT (00700.HK), ENFLAME TECHNOLOGY is regarded as one of China's "Four Little Dragons" of AI chips and the last among the group to go public.

The other three companies also posted surges after listing and have continued trading above their IPO prices. METAX (688802.SH) skyrocketed nearly 700% on its first trading day after listing in December 2025; MOORE THREADS (688795.SH) escalated more than 400% on debut; while BIREN TECH (06082.HK) rallied 76% during its IPO in January this year.

Investors are betting that domestic AI chipmakers can replace NVIDIA in the China market. According to IDC data cited in ENFLAME TECHNOLOGY's prospectus and translated by CNBC, international chipmakers led by NVIDIA accounted for nearly 60% of China's AI accelerator market in 2025.

China's semiconductor industry buildout is accelerating. In an August report, Goldman Sachs said growth in China's foundation models and AI applications is driving development in AI chips, foundries, memory and advanced packaging.

Analysts expected China's semiconductor capex to reach USD82 billion by 2030, driven mainly by memory and advanced process capacity expansion under the generative AI trend.

Domestic startup models such as Moonshot AI's Kimi K3 narrowed the gap with leading US models, while global adoption of Chinese AI systems continues to increase. Rival Z.AI (02513.HK) said its GLM-5.3-Flash model runs entirely on China-made chips. Analysts noted that the company may be using a combination of chips from Huawei, ENFLAME TECHNOLOGY and other domestic suppliers.

BABA-W (09988.HK) is also developing its own AI chips and supporting software while optimizing systems to support major Chinese models.
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OpenAI is considering slowing the pace of frontier AI development, while CEO Sam Altman hopes other AI companies will adopt the same approach, Bloomberg, citing sources, reported.

In recent weeks, employees at multiple leading AI companies have publicly expressed concerns over the rising risks of advanced AI systems. In late July, more than 1,000 employees from major AI companies signed a petition calling for mechanisms to slow the pace of AI development.
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Meta Platforms, Inc. (META.US)'s AI growth story has historically been less clear than that of some large-cap Tech peers, but the situation may be changing.

JPMorgan analyst Doug Anmuth is preparing to recommend the stock after Meta recently launched Muse. The company said Muse can proactively help users achieve goals while operating in a private and secure manner. The AI agent powered by Meta's Muse model series advanced to No. 3 on the US Apple App Store rankings as of Thursday.

Anmuth said Meta may still be in the early stages of rolling out AI products to consumers, but with progress in personal agents and frontier models, the company has notable upside.

Anmuth upgraded Meta from Neutral, equivalent to Hold, to Overweight, equivalent to Buy, and raised the TP to USD820, implying about 27% upside from the previous night's closing price of USD644.38.

Anmuth noted that most of Meta's AI efforts to date have focused on improving its advertising business, but its AI models will become the foundation for the company's product and monetization pipeline, as well as its path toward superintelligence over the coming years. Superintelligence refers to the stage where AI surpasses the smartest humans across multiple domains.
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The HSI closed at 24,954, down 320 points or 1.27%, with full-day turnover at HKD198.865 billion. The HSCEI settled at 8,274, down 94 points or 1.13%. The HSTECH ended at 4,330, down 90 points or 2.04%.

Blockbuster dotcoms led the decline. MEITUAN-W (03690.HK) nosedived nearly 4%; BIDU-W (09888.HK) slumped 3.31%; BABA-W (09988.HK) and KUAISHOU-W (01024.HK) plunged over 2%; and TENCENT (00700.HK) fell off 1.94%.

Chinese banks and insurers advanced. JPMorgan forecast room for higher dividend payout ratios among state-owned Chinese banks, with BANK OF CHINA (03988.HK) and CCB (00939.HK) as top picks. The two stocks rose 0.93% and 1.61%, respectively. ABC (01288.HK) gained 1.27%; ICBC (01398.HK) added 0.86%; CHINA LIFE (02628.HK) soared 2.24%, making it the best-performing blue chip of the day; while PICC P&C (02328.HK) added 1.25%.

DeepSeek cut prices for its latest Flash series. Morgan Stanley warned that price competition may intensify, sending Z.AI (02513.HK) down by 10.34%; MINIMAX-W (00100.HK) down 8.98%; and XUNCE (03317.HK) down 5.5%.

Apple Inc. (AAPL.US) held a product launch event overnight. Goldman Sachs said it was optimistic on Apple supply chain stocks including LINGYI ITECH (01688.HK) and LUXSHARE ICT (02475.HK), although related shares traded mixed today. LINGYI ITECH rallied 3.2%; LUXSHARE ICT tumbled 5.98%; AAC TECH (02018.HK) dipped 2.31%; and SUNNY OPTICAL (02382.HK) declined 1.15%.

Among individual stocks, ZHIDA TECH (02650.HK) proliferated 107.22% on heavy volume to close at HKD14.92, with trading volume of 129 million shares and turnover of HKD1.359 billion.
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