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On August 12th, Alibaba Clouds Lingjun Zhenwu M890 supernode instance officially launched, with the first batch available for sale in the Ulanqab region. This is also the first supernode computing power in China to successfully run a large model with over 2 trillion parameters. Kimi K3 and Qwen3.8 Max are already providing services through this instance. It is reported that the Lingjun Zhenwu M890 supernode instance supports FP8/FP4 low-precision computing. Through the ICN Switch 1.0 chip scale-up interconnect, the interconnect scale has been increased from 16 cards to 64 cards, and the inter-card interconnect speed has been improved to 800GB/s. In training scenarios such as intelligent driving and embodied intelligence, the training performance is three times better than the previous generation Zhenwu 810E.On August 12th, Anthropic announced that it had signed Article 50 of the EUs Artificial Intelligence Act regarding transparency in AI-generated content. Starting August 2nd, the Claude model will embed invisible watermarks in generated text, and digitally signed metadata will be attached to images and other documents for traceability. Anthropic stated that the tagging mechanism will cover all major Claude products and access channels, including the Claude Platform (API), Claude, Claude Code, Claude Cowork, and Claude Tag, and will also apply to cloud partners accessing the platform through AWS, Google Cloud, and Microsoft Foundry. Furthermore, the tagging mechanism will be applicable globally, covering all Claude product lines and partner cloud platforms, not just within the EU.August 12th - According to Google I/O Shanghai, the Google Gemma 4 model has surpassed 300 million downloads. Released in April this year, Googles Gemma 4 series of models is designed specifically for advanced reasoning and agentic workflows.August 12 – “This year marks the start of the nation’s 15th Five-Year Plan. The development of the Guangdong-Hong Kong-Macao Greater Bay Area is a crucial entry point for Hong Kong to integrate into and serve the overall development of the nation. The Hong Kong SAR government will continue to leverage Hong Kong’s advantages in connecting domestic and international markets under the ‘One Country, Two Systems’ framework, actively serving the high-quality development of the Greater Bay Area, supporting enterprises from mainland cities and other provinces and municipalities in the Greater Bay Area to ‘go global,’ and simultaneously attracting international high-end talent and capital to ‘come in,’ injecting momentum into development,” said Hong Kong Chief Executive John Lee on August 11. The public consultation on Hong Kong’s first five-year plan will conclude on August 14, with specific details planned for release next month. Lee stated that Hong Kong is proactively aligning with national development strategies, outlining its vision and goals for the next five years from a macro and forward-looking perspective, seizing the enormous opportunities brought by the nation’s 15th Five-Year Plan, and promoting Hong Kong’s better integration into and service to the overall development of the nation.The yield on Japans 30-year government bonds rose 3.0 basis points to 3.980%.

WTI struggles at $87 as recession worries probe OPEC's forecast and supply deficit fears intensify

Daniel Rogers

Sep 14, 2022 11:42

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After reverting from the weekly high, WTI crude oil traders seek clear direction around $87.50 during Wednesday's Asian session. However, the present hesitation in the price of black gold may be attributable to the mixed concerns regarding the demand-supply matrix.

 

The Organization of the Petroleum Exporting Countries (OPEC) indicated in a monthly report that oil consumption will climb by 3,1 million barrels per day (bpd) in 2022 and by 2,7 million barrels per day (bpd) in 2023, which is unchanged from last month. Despite obstacles such as rising prices, the news also highlighted indications that major economies were performing better than projected.

 

The news that the United States intends to replenish its emergency oil reserves, as well as the German and European move to control Russian oil and gas prices, could also be favorable for energy prices. In addition, rumors that the Western oil deal with Iran is a long way off are bolstering fears of a supply bottleneck and should have helped energy bulls.

 

Tuesday's US inflation statistics revived concerns about the Federal Reserve's fast rate hike and exacerbated recession concerns. Also acting as downward drivers for WTI crude oil are expectations of economic slowdown due to China and Russia-related concerns.

 

In spite of this, the US Consumer Price Index (CPI) for August increased by 8.3% year-over-year, surpassing market expectations by 0.1%. However, the monthly data increased to 0.1%, exceeding the -0.1% projected and the 0.0% shown in previous assessments. The core CPI, or CPI excluding food and energy, likewise exceeded the 6.1% consensus and 5.9% prior to printing at 6.3% for the month in question.

 

It should be mentioned that the weekly prints of the American Petroleum Institute's (API) industry inventory report also contributed to the commodity's downfall. The API Weekly Crude Oil Stock climbed to 6,035 million during the week ending September 9, up from 3,645,000 the previous week.

 

In the future, the price of black gold may stay under pressure due to a stronger US dollar and economic troubles. Before today's official weekly inventory data from the U.S. Energy Information Administration, however, the supply crisis concerns could test the bears (EIA). Thursday's US Retail Sales for the month of August and Friday's preliminary reading of the September Michigan Consumer Sentiment Index will also warrant close attention.

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