Microsoft said it is increasing infrastructure capacity, where conditions permit, to support traffic demand in regions where services are being gradually restored after an outage.

Hong Kong-listed AI stocks slid in choppy trade: Shenghong Technology (02476.HK) down 0.63%, Zhipu (02513.HK) down 7.09%, MINIMAX-W (00100.HK) down 4.76% and Yangtze Optical Fibre and Cable (06869.HK) down 3.56%.

Phrontline Biopharma, a China-based antibody‑drug conjugate (ADC) developer, said it closed a Series A round of nearly $40m, bringing total new investment to about $100m over the past year. The round was led by Yuanhe Origin and Decheng Capital, with participation from Longpan Investment, Jifeng Capital, Mifang Health Fund, Songqing Capital and Jianfa Emerging Investment; Dianshi Capital served as exclusive financial adviser. Proceeds will accelerate clinical development of the core pipeline, support IND filings for differentiated reserve candidates, build a new payload platform and expand international collaborations and capitalization efforts.