B[PwC predicts that global cumulative investment in data centers will reach US$31.6 trillion by 2050] September 2, PwC predicts that in order to meet the world’s growing demand for artificial intelligence (AI), cumulative global data center spending will reach US$31.6 trillion by 2050, and the scale of investment will exceed the historical infrastructure construction wave such as railways, the Internet, and electrification. PricewaterhouseCoopers released a report on Wednesday saying that if the popularity of AI exceeds its "baseline scenario" expectations, data center spending in about the next 25 years may even reach $50 trillion. By comparison, U.S. gross domestic product (GDP) is currently about $30 trillion. As consumers, businesses and governments increasingly use AI, technology giants such as Microsoft and Amazon, as well as smaller data center operators, are rapidly building new computing facilities around the world. Most of the investment will be in the internal equipment of the data center, including AI chips, storage chips, network equipment and servers. A[GEM Index fell more than 2%, nearly 4,700 stocks fell] On September 2, the index weakened, the GEM Index fell more than 2.00%, the Shanghai Index fell 0.65%, and the Shenzhen Component Index fell 1.45%. Precious metals, semiconductor chips, agriculture and other directions were among the top losers, with nearly 4,700 stocks falling in Shanghai, Shenzhen and Beijing. A[September 2 morning news selection]
1. On the afternoon of September 1, Premier Li Qiang met with a visiting delegation led by John McCain, Chairman of the Board of Directors of the U.S.-China Business Council, at the Great Hall of the People in Beijing. Li Qiang said that China is willing to work with the United States to follow the strategic guidance of the two heads of state, strengthen dialogue and communication, expand mutually beneficial cooperation, properly manage differences, promote the construction of a constructive strategic and stable relationship between China and the United States, and strive for more pragmatic results.
2. The Ministry of Finance and the State Administration of Taxation issued an announcement clarifying that starting from September 1, foreign individuals shall pay individual tax at a rate of 20% on dividend income received from foreign-invested enterprises.
3. The 2025 annual report released by the National Council for Social Security Fund shows that in 2025, the investment income of the National Social Security Fund was 390.672 billion yuan, with an investment return rate of 13.22%. The average annual investment return rate since the fund's establishment is 7.62%, and the cumulative investment income is 2.291679 billion yuan.
4. The Ministry of Commerce, the Ministry of Industry and Information Technology, and the State Administration for Market Regulation recently issued the "Guidelines for Overseas Competition and Compliance Construction in the Automotive Industry," emphasizing legal compliance, fair competition, and mutual benefit, which will help guide automobile industry companies to actively fulfill their social responsibilities overseas and better integrate into the economic and social development of the host country.
5. The exchange formulates L2 market usage specifications to strictly prevent the abuse and improper dissemination of market data, and eliminate the use of data advantages to "detour and jump ahead" to further maintain market fairness.
6. Samsung Electronics plans to increase the performance of the next-generation high-bandwidth memory (HBM) HBM5 to 2 times that of HBM4E, while the performance target of the subsequent generation product zHBM is 8 times that of HBM4E. Samsung will focus on 3D structure innovation to compete for dominance in the next-generation memory market.
7. Affected by rising energy prices, rising inflation expectations, and changes in major central bank monetary policy expectations, the world's major government bond yields have generally risen. The U.S. 30-year Treasury bond yield once rose to 5.28%.
8. BYD’s passenger car sales in August were 433,000 units, compared with 372,000 units in the same period last year, a year-on-year increase of approximately 16.66%.
9. Huachang Chemical announced that the controlling shareholder will be changed to Suzhou Xuanli and the stock will resume trading.
10. Sengke Communications announced that it plans to raise an additional capital of no more than 4.805 billion yuan to invest in the construction of next-generation high-performance switching chips and other projects. Sunshine Shares announced that its holding subsidiary signed a comprehensive service contract for server leasing worth 633 million yuan.
11. Huahong Grace announced that it plans to increase capital in the third phase of Wuxi Huahong Grace to build a 12-inch specialty process wafer foundry production line with a monthly production capacity of approximately 55,000 pieces/month.
12. The three major U.S. stock indexes collectively closed down, with the Dow Jones Industrial Average falling 0.79%, the Nasdaq Composite Index falling 1.03%, and the S&P 500 Index falling 0.71%. Cryptocurrency concept stocks and the optical communications sector generally fell; the pharmaceutical sector led the gains, with Moderna rising nearly 10%.
13. The US Central Command stated on September 1, local time, that Central Command troops successfully completed a wave of strikes against Iranian military targets on September 1.
14. The U.S. House of Representatives passed a temporary federal funding bill to avoid a government "shutdown" on October 1, and sent the bill to U.S. President Trump for signature.
15. Iran’s Islamic Revolutionary Guard Corps issued a statement stating that it launched a heavy ballistic missile at the U.S. Marine Corps camp on the coast of Jordan’s Gulf of Aqaba, “destroying several important facilities and enemy attack helicopters, causing a large number of U.S. military casualties.”
16. International oil prices rose sharply. WTI crude oil futures closed at US$90.22 per barrel, an increase of 5.20%; Brent crude oil futures closed at US$94.65 per barrel, an increase of 4.6%.
17. Musk is said to have made personnel changes to the team building the company's data center at SpaceX in recent weeks, replacing several leaders with executives from SpaceX's rocket and satellite Internet businesses. A[The three major U.S. stock indexes collectively opened lower, with optical communications and memory chip sectors generally falling] On September 1, the three major U.S. stock indexes collectively opened lower, with the Dow Jones Index falling 0.64%, the S&P 500 Index falling 0.70%, and the Nasdaq Composite Index falling 1.28%. Optical communications and memory chip sectors generally fell. Corning and Marvell Technology fell by more than 3%, Intel and SanDisk fell by more than 2%, and Western Digital, Seagate Technology, SK Hynix, and Micron Technology fell by more than 1%. Fervo shares rose more than 7% after it was reported that the company had signed a nearly 400-megawatt geothermal power supply agreement with Google. B[IDAS 2026 Design Automation Industry Summit was held in Shanghai: Shanghai will accelerate EDA/IP breakthroughs and strengthen cutting-edge technological innovations such as AI EDA] September 1st, according to the Shanghai Economic and Information Technology Commission, on the morning of September 1st, the "IDAS 2026 Design Automation Industry Summit" was successfully held at Shanghai Zhangjiang Science Hall. The summit focused on industry development hotspots such as Tao's Law, system collaboration and innovation for discussions and exchanges. EDA is a basic software tool for chip design, manufacturing, packaging and other aspects, and it is also the basis for supporting the ecological construction of the integrated circuit industry. Under the guidance and support of the Ministry of Industry and Information Technology, Shanghai has actively formulated and implemented EDA/IP innovative development support policies, established industry merger and acquisition funds, established the Shanghai EDA/IP Innovation Center and the EDA Development Promotion Association, accelerated the improvement of the industrial ecology, and helped enterprises become bigger and stronger. In the next step, Shanghai will focus on the innovative development of the entire integrated circuit industry chain, accelerate the construction of platform carriers, accelerate EDA/IP breakthroughs, strengthen cutting-edge technological innovations such as AI EDA, support product application promotion, continue to optimize the industrial ecology, and accelerate the creation of an integrated circuit design automation innovation highland with international influence and competitiveness. B[Zhipu responds to the question of "knowledge only after training": The next generation base model is already advancing GLM-6.0, aiming at "self-evolution"] September 1st, at the 2026 semi-annual performance communication meeting held on the evening of August 31, an analyst raised the market's doubts about Zhipu's "knowledge only after training" and asked why the company has been relatively restrained in parameter scale recently. Tang Jie, founder of Zhipu, said that the next generation model will still expand the base size, and at the same time control the activation parameters to avoid the decline in inference speed and increase in costs. In terms of computing power, Zhipu revealed that it has achieved large-scale inference with 100,000-level domestic chips, and the cost of inference per Token has dropped by 80% from the beginning of the year. GLM‑5.3‑Flash is Zhipu’s first model that fully relies on domestic chip clusters to provide services under ultra-large-scale real traffic. The company said that compared with the initial baseline of the same hardware, the end-to-end service performance of this model has been improved by 3 times. Tang Jie summarized one of the future directions of GLM-6.0 as self-evolution, "This is a big challenge. The biggest problem is that the model can judge by itself when to stop and when to correct itself. This is the biggest problem, rather than simply training the model to a larger size. In future models, this is a key research focus." (every sutra) B[Many domestic mobile phone manufacturers have unified prices today, and many mobile phone prices have increased by 1,000 yuan] On September 1, many domestic mobile phone manufacturers have unified prices today, involving multiple price models, with increases of more than 200 yuan. According to Jiangnan Metropolis Daily, Xiaomi has also made price adjustments this time, including Xiaomi 17 series, REDMI K90 series, and Turbo 5 Max models. In addition, the prices of many Huawei mobile phones have increased by 1,000 yuan. Includes: Huawei Mate 80 Pro series: 12GB+256GB priced at 5,999 yuan before price adjustment and 6,999 yuan after price adjustment; 12GB+512GB priced at 6,499 yuan before price adjustment and 7,499 yuan after price adjustment; 16GB+512GB priced at 6,999 yuan before price adjustment and 7,999 yuan after price adjustment; 16GB+1TB 7,999 yuan before price adjustment, 8,999 yuan after price adjustment. Huawei Mate 80 Pro Max: 16GB+512GB priced at RMB 7,999 before price adjustment and RMB 8,999 after price adjustment; 16GB+1TB priced at RMB 8,999 before price adjustment and RMB 9,999 after price adjustment. According to previous reports, Qualcomm chips plan to increase prices in September this year, and the increase will reach double-digit percentages. This price adjustment may affect multiple technology fields such as smartphones and wearable devices. A[GEM Index fell more than 1%, computing power hardware led the decline] On September 1, the index weakened, the GEM Index fell more than 1%, the Shanghai Index fell 0.05%, and the Shenzhen Component Index fell 0.54%. Computing hardware, semiconductor chips, robots and other directions were among the top losers, with nearly 2,200 stocks falling in Shanghai, Shenzhen and Beijing. A[Investment Calendar: Reminder of major capital market events on Tuesday]
①A total of 2 new stocks were listed today, namely Ma Kuang Shares (601123) on the Shanghai Main Board and Betley (301697) on the GEM.
② Ministry of Finance, General Administration of Customs, and State Administration of Taxation: Consumption tax will resume on batteries such as lithium primary batteries, lithium-ion batteries, and all-vanadium redox flow batteries. It will be levied at 2% from September 1, 2026, and will rise to 4% from September 1, 2027.
③The "2026 National Essential Drugs List" will be officially implemented from September 1.
④The Indian government has implemented inventory holding restrictions on bulk sugar consumers, limiting the inventory of bulk sugar buyers to no more than 15 days. The restriction order will take effect from September 1st and will be valid until November 30th.
⑤ Baidu’s listing status on the Hong Kong Stock Exchange will be converted to primary listing from September 1.
⑥Shein is scheduled to launch an IPO in Hong Kong on September 1, raising US$1.7 billion through the Hong Kong IPO and issuing approximately 280 million shares at a price of HK$48.56 per share.
⑦ Two national standards, "Asset Management Data Asset Classification and Code" and "Asset Management Data Asset Registration Guide", will be officially implemented from September 1.
⑧Qualcomm will increase the prices of its entire range of chip products on September 1.
⑨MLCC manufacturer Japan Taiyo Yuden: Price adjustments will be made for some products starting from September 1st.
⑩ Zhuosheng Micro issued a price adjustment letter, announcing that it will implement new prices for the entire series of RF products starting from September 1.
⑪Nanya Plastics announced that CCL and prepreg prices will increase by 20 to 25%, effective from September 1.
⑫ Today, 386 billion yuan of 7-day reverse repurchases and 447 billion yuan of overnight reverse repurchases expired.
⑬The U.S. ISM manufacturing PMI and other data for August will be released today. B[South Korea's exports continued to grow strongly in August, AI demand drives chip boom] September 1st, South Korea's exports continued to grow strongly in August, and demand for artificial intelligence (AI) boosted chip shipments and the overall economy, which is expected to support the Bank of Korea's maintenance of a hawkish stance after two consecutive interest rate hikes. Data released by South Korea Customs on Tuesday showed that after adjusting for differences in working days, exports increased by 72.5% year-on-year in August, imports increased by 22.5%, and the trade surplus reached US$34.7 billion. Unadjusted exports rose 68.7%, compared with a revised 63% increase in July. Semiconductors remain the main driver of South Korea's export growth. Data showed that although rising energy prices and geopolitical tensions put pressure on other industries, external demand remained resilient, supporting the Bank of Korea's second consecutive 25 basis point interest rate hike last week. A[MSCI China Index adjustment takes effect today, 33 stocks are included] After the market close on August 31, the MSCI China Index quarterly adjustment will officially take effect. 33 stocks were included and 32 stocks were removed. Previously, on August 12, local time, MSCI announced the results of the August 2026 index review of the MSCI stock index. The adjustment will take effect after the close of trading on August 31.
In this adjustment, the MSCI China Index newly included 33 stocks including Zhipu and Dingtai High-Tech, while excluding 32 stocks including Vanke A and Yonghui Supermarket. The 33 newly included targets cover multiple cutting-edge fields such as semiconductors, AI, medicine, new materials, and precision manufacturing. It is worth noting that 10 companies on the Science and Technology Innovation Board have been newly added to the MSCI China Index this time, 7 of which are from the semiconductor industry chain, covering all aspects of chip design, manufacturing, packaging and testing, equipment, materials, etc., highlighting the continued increase in the attractiveness of China's hard technology sector in the global capital market. (CCTV Finance) A[Horizon Robot-W releases 2026 semi-annual report: revenue and gross profit increase, and the resilience of automotive intelligent bases highlights] On August 31, Horizon Robot (9660.HK) released its financial report for the first half of 2026 on August 31. During the reporting period, the company achieved operating income of 2.055 billion yuan, a year-on-year increase of 32.9%. Gross profit was 1.356 billion yuan, a year-on-year increase of 32.9%. Comprehensive gross profit margin remained at a high level of 66%.
Among them, shipments of Journey series chips bucked the market trend and increased by 12.1% to 2.218 million units, driving product and solution revenue to increase by 14.8% to 926 million yuan. The company has obtained approvals for nearly 500 vehicle models; in the field of mid- to high-end smart driving, it has obtained approvals for nearly 130 models.
The accelerated realization of the "ARM+Android" underlying licensing model drove licensing and service revenue to 1.129 billion yuan, a year-on-year increase of 52.7%. At the same time, its underlying technology has been extended to embodied intelligence, unmanned logistics vehicles, home intelligence, electric two-wheeled vehicles and other scenarios through partners. Currently, Horizon's value as an intelligent base for automobiles is accelerating, and it is accelerating towards a super platform in the era of physical AI.
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