China's National Energy Administration said at a press briefing that electricity consumption for computing capacity is expected to increase by more than 100 billion kWh per year during the 15th Five-Year Plan. It projects compute-related power demand will reach 800 billion kWh by 2030, about 6% of national electricity consumption.

Intel (INTC.O)'s outlook fell short of expectations, sending semiconductor stocks lower in premarket trade. AMD (AMD.O) fell 6.5%, NVIDIA (NVDA.O) fell 2.5%, Micron Technology (MU.O) fell 3.7%, Arm (ARM.O) fell 7.5%, Qualcomm (QCOM.O) fell 3.9%, Broadcom (AVGO.O) fell 3.5% and the iShares Semiconductor ETF fell 5.6%.

Analyst Mark Schroers says the ECB maintained its risk assessment—inflation faces upside risks while growth faces downside risks—and left language on future policy unchanged. The statement stressed two market-relevant points: underlying inflation has so far remained broadly stable and wages have not yet shown a clear response; and financing conditions have tightened since the last Governing Council meeting, which could curb inflation and weigh on growth. Moody's euro-area research head Camille Kovar said the statement’s tone is dovish and that such wording would not be used if the bank were preparing to embark on a broad tightening cycle.