Chip dip

Japanese chip stocks lead a broad sell-off in Asian trading as investors question whether the AI spending cycle has peaked. China's Moonshot unveils what it calls the world's largest open-source AI model as President Xi Jinping hosts a global AI cooperation conference in Beijing. And Netflix shares fall after a second consecutive quarter of disappointing sales growth.

Today’s recommended read: Trump could get a lesson on Iran from an unlikely source — emus (reuters.com/commentary/reuters-open-interest/t…), Clyde Russell

Read more from Amanda Cooper (reuters.com/authors/amanda-cooper) and Anna Szymanski (reuters.com/authors/anna-szymanski)

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