After its earnings release, NVIDIA (NVDA.O) fell nearly 3% in after-hours trading.

Multiple innovative-drug and vaccine ETFs rallied; Hang Seng Innovative Drugs ETF (520500), HK Stock Connect Innovative Drugs ETF (159506) and Vaccine ETF (562860) each rose more than 4%.

Tang Daosheng, group senior executive vice president and CEO of Tencent’s Cloud and Smart Industries Group, wrote in an internal publication addressing claims Tencent has lagged on AI. He said it is impossible not to be anxious, that the HunYuan large model has undergone multiple reconstructions and HunYuan Hy3 performs strongly among models with comparable parameter counts, but warned the company’s overall compute capacity is severely insufficient, slowing model training and product development and causing material impact. He added the AI second half is only beginning and that sustained effort is required to capture recurring new opportunities.