Business Insider reports Elon Musk plans to present SpaceX's Terafab chip program to employees of Europe's largest tech company; the program is viewed as a major SpaceX technology bet on AI compute.

China A-share optical and optoelectronics sector rallied; BOE Technology A hit the daily limit. Caihong, Kaisheng Technology and Woge Optoelectronics earlier hit limit-up; Gebijia, Leiman Optoelectronics and Visionox were among the top gainers.

China A-shares opened lower, briefly rallied in the morning then slid in the afternoon. Shanghai Composite erased earlier gains and closed down 0.74% after falling as much as over 1% late in the session. Shenzhen Composite Index fell 2.21%; ChiNext Index declined 3.2%. Turnover on Shanghai and Shenzhen exceeded CNY3.0 trillion. Nearly 3,000 stocks fell. Sector moves: power stocks extended afternoon declines; memory chips and lab-grown diamonds led losses; optical/optoelectronics outperformed; humanoid-robot names spiked in the afternoon; gaming stocks were active; new metallic materials were strong all day.