Russian drone attack on Mykolaiv port infrastructure damaged three foreign-flagged civilian vessels and killed two Ukrainian civilians.

Saudi Arabian television reported Iran said US military strikes since June 22 have killed 38 people and wounded 400.

Huaxi Securities says 2025–26 is the industry’s key commercialization window — whether firms secure sustainable monetization then will shape the sector’s long-term structure. The foundation-model market is in rapid expansion, with China’s growth materially above the global average, and Chinese open-source models have moved from peripheral participants to global core players. The report highlights three investible themes: compute and infrastructure — the clearest, highest-certainty beneficiaries; vertical foundation-model vendors with industry data barriers and scenario know‑how — most likely to close early commercial loops; and platform firms with large user bases and application-distribution capability — platform effects should strengthen as commercialization matures.