FTSE China A50 index futures opened down 0.60%.

CITIC Securities says NVIDIA's Vera Rubin chip upgrade and power‑architecture changes are the core catalyst for a new AIDC power‑supply cycle. Its review of 2023–present shows the prior cycle was driven by Blackwell chips shipping as NVL72 full‑rack systems, which materially raised power‑supply value content and concentrated supplier earnings in 2025–26. NVIDIA's next‑gen Rubin is in production ramp; chain CapEx, inventories and order signals indicate the ecosystem is prepared and the upcoming cycle could be stronger. A volume ramp of Vera Rubin should boost demand for high‑power PSUs and HVDC sidecars, further increasing power‑supply value; 2027 could mark the start of the next AIDC power‑supply cycle, allowing suppliers to gain share and realize earnings.

EU official Albuquerque said preparedness is the best way to address artificial intelligence.