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Real-time News
On September 4th, experts stated that as valuations of some companies in the artificial intelligence (AI) sector begin to appear overvalued, investors should focus on the productivity growth of AI companies. Jakub Nytra, founding partner of venture capital firm Purple Ventures, said, "We are likely to see a reshuffling as investors become more discerning about which technologies can create real value and which are merely functionalities disguised as business models." He predicts that capital allocation will become more selective over the next 6 to 12 months. Market concerns about a bubble persist because companies continued increases in capital expenditure seem endless, and extremely high growth figures raise questions about the sustainability of this expansion. Nytra stated that while AI can transform the economy, not every company that includes AI in its funding pitches deserves an extraordinary valuation. "The ultimate winners will be those companies that use AI to solve costly and extremely complex problems."On September 4th, it was reported that Zhipus launch of its official flagship store on Tmall has sparked widespread discussion. Data shows that within 48 hours of opening, brand searches for Zhipu surged 50 times compared to the previous period, driving a more than 160% increase in sales of subscription products such as AI tokens on Taobao and Tmall. Previously, Tmall launched the AI Space Station (Token Recharge Center), initially connecting major model manufacturers such as Alibaba Cloud, Zhipu, Kimi, MiniMax, and DeepSeek, allowing users to directly purchase related subscription services like "topping up phone credit."The National Bank of Kazakhstan lowered its policy rate to 16.25%, down from 16.75%. The central bank stated that there is limited room for further rate cuts.At midday closing, most domestic futures contracts rose, with ferrosilicon hitting its daily limit up, polyvinyl chloride (PVC) rising nearly 5%, liquefied petroleum gas (LPG) and palladium rising over 3%, soda ash rising nearly 3%, caustic soda rising over 2%, and alumina and Shanghai silver rising nearly 2%. On the downside, lithium carbonate fell over 7%, low-sulfur fuel oil (LU) fell over 2%, paraxylene and PTA fell over 1%, and SC crude oil fell nearly 1%.September 4th - The Cuban government announced a series of new policies on September 3rd to further reduce restrictions on foreign investment, foreign trade, and tourism, expanding the operating space for foreign-invested enterprises, joint ventures, and private companies. The new policies announced by the Cuban government include: removing the requirement for foreign-invested and joint-venture companies to hire Cuban employees through intermediary agencies authorized by the Cuban Ministry of Labor and Social Security, allowing direct employment; removing the requirement for joint ventures and domestic investors participating in international economic cooperation to obtain prior approval from the Central Bank of Cuba to open bank accounts abroad, replacing it with subsequent reporting to the Central Bank; updating import and export procedures to allow private companies to directly engage in foreign trade; relaxing restrictions on foreign capital participation in wholesale and retail trade, as well as investment in key areas and historical and cultural heritage sites; introducing tax incentives for ecotourism projects; and allowing foreign companies, foreign-invested enterprises, and non-state-owned entities to participate in tourism transportation and travel agency businesses.
