According to Axios, ANTHROPIC's US government lobbying spending in 1H exceeded its total for all of last year.

China A-shares closed sharply higher. Shanghai Composite +1.79%, Shenzhen Composite Index +4.81%, ChiNext +7.05%, Sci‑Tech Innovation 50 Index +10.73% — the latter marking a fresh YTD single‑day high. Chip supply chain rallied broadly; memory chips, advanced packaging and CPO led gains. MLCCs, PCBs, OLED, glass substrates and optical fiber were among top-performing sectors. About 3,100 stocks advanced and more than 120 hit daily limit-ups. Turnover across Shanghai and Shenzhen reached 2.95 trillion yuan, up over 250 billion yuan versus yesterday.

Morgan Stanley says the recent pullback in US memory-chip stocks is a buying opportunity; memory-chip shortages are expected to worsen through the year after next. Consumer electronics, PC and smartphone markets are sending mixed signals that will affect spot pricing and inventory at different times, and recent weakness in share prices appears linked to those factors.