• Top Bit: Volkswagen’s In-House AI Chip:
   
  • VW is investing ~$200 million USD to develop its own AI chip in China via the Carizon JV with Horizon Robotics. 
• The chip will power Level 3 driver assistance and provide 500–700 TOPS of computing power. 
• The move is a strategic bid to localize core technology and compete with Chinese EV makers.
• Number of the Day: $15 Million—Value of dinosaur skeletons and artifacts seized from a Chinese money-laundering suspect by British authorities.
• Highlights: Japan and Korea stocks drop biggest since April; investor fears of an “AI bubble” grow; SoftBank plunges 14%.
• Market Bit: Cathay Pacific Buys Out Qatar Airways:
   
  • Cathay buys back Qatar's 9.57% stake for $896 million USD (HKD 6.97bn). 
• The buyback is a sign of “strong confidence” in Hong Kong’s aviation future and a desire for more control.

Head of the Day: David Ha (Sakana AI): Former Google researcher and founder of Japan’s first AI unicorn, named after the collective intelligence of a school of fish. His company's system, AI Scientist, authored the first AI-written peer-reviewed paper.

• Short News of the Day:
   
  • China bans all foreign AI chips (Nvidia, AMD, Intel) in new state-funded data centers—a major step toward tech decoupling. 
  • Chinese EV maker Seres raised $1.84 billion USD in one of the year's largest Hong Kong IPOs.
  • Norway found that Chinese Yutong electric buses could be remotely shut down, leading to new cybersecurity rules.
  • Toyota raised its annual profit forecast to 3.4 trillion yen.

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