据路透：消息人士称，长鑫存储将开始生产先进的HBM3E AI内存，尽管良率仅为20%至30%，长鑫将在未来两个月内启动小规模生产。

人工智能基础设施建设正在推高数据中心、电力设备、输电网络及配套设施对铜的需求，但铜矿生产率持续下降，新矿开发难度也在上升，供给扩张可能难以跟上需求。即使按照较为保守的AI基础设施增长预期，矿企也可能需要提高资本开支相对于运营开支的比例，以增加铜矿供给。如图所示，纯铜业务资本开支与运营开支之比在2013财年一度达到约60%，此后有所回落；图表预测该比例到2030财年约为22%。惠灵顿认为，若要激励矿企进一步增加投资，铜价可能需要上涨。不过，过去15年勘探活动不足、专业人才短缺，以及采矿许可审批和环保约束，仍可能限制新增供给。铜价上涨不仅可能利好铜商品本身，也可能改善铜矿企业增加资本投入的经济性。

Citadel Securities’ India unit reported revenue growth slowed to about 4% to 41.7 bln rupee (≈$438m) in the fiscal year to March, while profit after tax fell 5% to 19.6 bln rupee, according to Tofler filings. That contrasts with the prior fiscal year’s 39% revenue and 41% profit gains. Regulators’ measures to curb options and futures speculation and broader tightening have cooled cash and derivatives trading, hitting activity for market-makers including Citadel Securities and Hudson River Trading. Combined with foreign flow shifting to markets benefiting from US AI-driven trading and a weaker rupee, the data point to a cooling of the post-pandemic upswing in Indian capital markets.