Rosenblatt raises NVIDIA (NVDA.O) PT to $390 from $325.

Domestic News 1. Sources close to CATL: The next steps for the Jianxiawo mine will be in accordance with government approval procedures. 2. The State Council Food Safety Office has placed the case of a disinfection company illegally using dichlorvos to disinfect restaurants under its supervision. 3. Shanghai data center reportedly deserted? Tesla China responds: This is false information; a report has been filed with the police. 4. Shanghai issues the "15th Five-Year Plan for the Development of Strategic Emerging Industries": Promoting the integrated development of satellite internet with BeiDou, 6G, and AI, and accelerating the large-scale application of satellite internet and BeiDou. International News 1. SoftBank reportedly plans to issue up to $20 billion in bonds to refinance its OpenAI investment loan. 2. EIA report: U.S. Strategic Petroleum Reserves (SPR) inventories decreased by 3.7 million barrels to 289.7 million barrels in the week ending August 21, a decrease of 1.26%. 3. Meta Platforms (META.O) reached a $16.7 billion settlement in multiple state lawsuits related to child addiction. 4. The US July PCE price index rose 3.7% year-on-year, unchanged from the previous month, while the market expected a slight decline to 3.6%. Expectations for a Federal Reserve rate hike next month have slightly increased. 5. The iPhone 17 became the best-selling phone in the second quarter. 6. Samsung Electronics and SK Hynix plan to increase their supply of 8-layer HBM4 memory to Nvidia in the second half of the year. 7. SoftBank Group is in discussions with investment banks regarding a potential bond issuance of $10 billion to $20 billion to help refinance its investment in OpenAI. 8. Middle East situation: ① Iran's Deputy Foreign Minister stated that a preemptive strike against the US is also an option. ② US President Trump hinted that 22 ships passed through the Strait of Hormuz last night. ③ Iranian sources: Iran and Oman have not yet finalized an agreement on the Strait of Hormuz. ④ Israeli Prime Minister Netanyahu: He sees no possibility of reaching a diplomatic agreement with Iran. ⑤ Japan will support the construction of pipeline facilities outside the Strait of Hormuz. Japan plans to provide additional shipping cost support.

Fujian province issued its 15th Five‑Year Sports Development Plan today, calling to deepen two‑way sports integration with Taiwan. The plan seeks more Fujian‑Taiwan joint teams in national leagues and aims to secure participation in national multisport games. It targets hosting a number of Taiwan‑Fujian events organized by national single‑sport associations and exploring co‑hosting rotating regional basketball and baseball tournaments with Taiwanese organizations. The province will expand Fujian‑Taiwan sports industry cooperate parks and invite Taiwanese firms to provincial sports expos. It also plans to strengthen a joint Fujian‑Taiwan provincial baseball team, improve incentives for Taiwanese athletes, support existing professional baseball clubs and encourage new clubs to enter domestic and international professional competitions.