The Information reports Nvidia (NVDA.O) is in talks to fund its AI data supplier Mercor at a $20 billion valuation.

CITIC Securities says the China baijiu sector is undergoing a valuation recovery after a deep 1H sell-off driven by sentiment and fund flows; July-to-date the sector is up 13.8% versus the CSI 300 INDEX +0.7%. The broker sees fundamentals stabilizing: wholesale prices have steadied under inventory controls, sell-through is marginally recovering from a low base, and inventories have started to decline. Since August demand for consumption occasions such as graduation/banquets has improved month-on-month, which may ease channel pessimism ahead of the Mid-Autumn peak selling season. CITIC recommends buying on dips, favoring leading liquor producers.

Nikkei reports Japan's Ministry of Economy, Trade and Industry (METI) will seek ¥7.7 trillion in its FY2027 budget.