AMD (AMD.O) CEO Lisa Su said OpenAI has "placed a big bet" on AMD.

US stock index futures extended losses; Nasdaq-100 futures down more than 1%, S&P 500 futures down 0.73%, Dow futures down 0.83%.

At midday China stocks fell: Shanghai Composite -1.20%, Shenzhen Composite -1.77%, ChiNext -1.78%. Precious metals plunged; Sichuan Gold, Hunan Silver and Zhaojin Gold fell more than 7%. Compute‑power names weakened — ZhengTong Electronics hit the daily down limit, Meili Cloud fell nearly 8%. Power names tumbled: Jiuzhou Group, Leshan Power and Hunan Development down over 8%. Other top decliners included cultivated diamonds, MLCC, energy metals, media, AI agents and semiconductors. Defence stocks bucked the selloff — Tianqin Equipment and Beifang Changlong rose over 10%. Fluorochemicals were active, with Xinya Process, Furi and Kain among several stocks hitting the daily up limit. Turnover across Shanghai and Shenzhen was about 1.22 tln yuan at midday, down roughly 230.6 bln yuan versus the same period yesterday; roughly 500 stocks rose and 4,900 fell.