ASML's share price plunged following a report that a state-backed Chinese consortium has begun mass-producing immersion DUV lithography machines.

Alibaba's cloud-centric AI strategy faces pressure as U.S. regulators tighten access to Nvidia chips while Beijing considers new export rules for AI models.

Chinese officials are exploring potential restrictions on international access to advanced AI models to protect proprietary technology and national security. The proposed measures could impact the availability of models such as Alibaba’s Qwen and ByteDance’s Doubao.