Nscale completed approximately $3 bln of financing for AI deployment projects in Ward and Madison counties, Texas.

Public FOF issuance has accelerated. Last week (Aug 24–30) three public FOFs opened subscriptions: Tianhong Xinxiang Multi‑Asset 3‑Month FOF, Manulife Multi‑Asset Select 3‑Month FOF and Huafu Chunheng Stable 6‑Month FOF. Data show 130 FOFs issued year-to-date, raising 129.359 bln subscription units as of Aug 25, a record high; 2025’s raised volume was the second-highest on record and this year’s year-to-date amount is double last year’s. Rongzhi Investment FOF manager Li Chunyu said strong 2026 public FOF issuance is driven by a low-rate environment that has pushed down deposit and bank‑wealth yields, prompted deposit migration and intensified market rotation; investors find fund selection harder, making FOFs’ one‑stop multi‑asset allocation and secondary risk diversification attractive for steady returns.

China A-share AI application theme extended intraday gains: Yiwang Yichuang and Yaowang Technology hit daily limit-up; earlier Jingyeda, Zhangyue Technology and Yue Media also reached limit-up. Huaxin Yongdao surged over 25%; Liujin Technology, Fushi Holdings, Wanxing Technology, Airong Software and Liandi Information posted rapid sharp advances.