BREAKING: China's top chipmaker SMIC posted an 82% profit surge on enterprise demand for domestic AI infrastructure while warning that China's AI computing crunch will last until 2028, according to the South China Morning Post, even as scrutiny around Nvidia risks tighter US chip curbs.

Meituan reports Q2 revenue up 14.4% YoY to $15.62B and adjusted net profit of $372M, ending a three-quarter losing streak as the food delivery price war cooled (Ben Jiang / South China Morning Post) (Visit Techmeme dot com for the link and full context!)

China seeks to conquer world’s hybrid electric vehicles market Chinese automakers have achieved global dominance in the EV market by outperforming competitors with much lower prices and are now looking to expand into the hybrid electric vehicle (HEV) sector, the South China Morning Post reports.

🧬 China can now print a cancer vaccine in one day. A Shanghai facility uses mRNA and AI to build custom vaccines from a single biopsy. Speed saves lives. Sources: S. China Morning Post, The Straits Times #omgfacts# #CancerResearch# #Biotechnology#

Sources: Meituan, Baidu, Xiaomi, and other Chinese tech giants have been trimming their workforces, fueling Chinese workers' concerns of being replaced by AI (@chenwq45 / South China Morning Post) (Visit Techmeme dot com for the link and full context!)

One of the architects of America's "pivot to Asia" just said the quiet part out loud: containing China isn't possible. Kurt Campbell knows this strategy better than almost anyone in Washington. He ran East Asian affairs under Obama, served as Biden's deputy secretary of state, and was the White House's Indo-Pacific coordinator. He helped build the Quad and the "small yard, high fence" approach to tech competition. In a new South China Morning Post interview following the Xi-Trump summit, he's arguing the US needs to drop the fantasy of containment and focus on something harder: keeping its alliances strong. His logic isn't new, but the timing matters. This comes right after a high-profile Trump-Xi meeting, when questions about where US strategy goes next are loudest. Campbell's answer leans on the same framework he's pushed for over a decade: the Quad with Japan, India, and Australia, AUKUS submarines, and deep bilateral ties, not unilateral pressure on Beijing. Here's the tension underneath his comments. Containment assumes the US can box China in. Campbell is essentially saying that ship has sailed, given China's scale and reach. What's left is managing the competition through partnerships, not trying to stop China's rise outright.

Premarket movers Mag 7 names are mostly higher: Nvidia climbs 0.9%, with the chipmaker set to snap its seven-session losing streak as Wall Street awaits the company’s quarterly update due Wednesday. Meta Platforms +0.9%, Tesla +0.5%, Amazon +0.4%, Alphabet +0.4%, Apple -0.1%, Microsoft -0.2%. AI-linked stocks are rising and on track to end days of share price declines. Micron (MU) climbs 2%, Seagate (STX) gains +2%. Alibaba ADRs (BABA) rise 0.5% after the South China Morning Post reported that the company’s founder Jack Ma bought more than $76.5 million worth of the company’s Hong Kong-listed shares, citing people familiar with the matter. Dick’s Sporting Goods (DKS) falls 12% after lowering its full-year outlook amid weakness at its recently acquired Foot Locker unit, overshadowing sales gains during the World Cup. Dynatrace (DT) climbs 3% after Morgan Stanley upgraded the infrastructure software company to overweight, citing faster growth prospects. Kura Oncology (KURA) rises 9% after CEO Troy Wilson reported buying $1.24 million of shares in the company. Navitas Semiconductor (NVTS) gains 5% after the company announced a deal to acquire Claros Inc.

Lily King(@Lily_Z_King ) , is speaking at Money Frontier 2026. Lily King is Chief Operating Officer at Cobo @Cobo_Global , where she is building the financial infrastructure for the human x agent economy. Before Cobo, she spent over a decade as General Counsel at PAG Asia Capital, one of Asia's largest alternative investment firms, structuring complex transactions at the intersection of law, capital, and governance. She holds a research background from Harvard Law School. Lily writes on crypto, AI, and financial governance for the South China Morning Post, Bloomberg, Forkast, and Nikkei, and speaks regularly at blockchain and technology forums across Asia. Join her at Money Frontier 2026. Get your tickets and learn more: