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On August 11th, the Shanghai Municipal Commission of Economy and Informatization issued the "15th Five-Year Plan for the Development of Shanghais Software and Information Service Industry." The plan emphasizes tackling next-generation model architectures and promoting the exploration of multiple technical routes based on non-Transformer architectures such as state-space models, recurrent neural network variants, and liquid neural networks. It also calls for accelerating the development of cutting-edge basic model technology systems such as physical intelligence, world models, quantum intelligence, and brain-like intelligence. Furthermore, it emphasizes tackling the networking technology of ultra-large-scale intelligent computing power clusters, focusing on core components such as high-performance computing chips (GPUs/NPUs), quantum computing chips (QPUs), high-speed optical interconnects (CPOs), high-bandwidth memory (HBMs), and heterogeneous servers to enhance the supply capacity of intelligent computing hardware and promote the deep integration of domestically developed chips with mainstream large-scale models. Finally, it focuses on new storage and retrieval technologies, digital-model collaboration, and breakthroughs in key technologies such as high-precision heterogeneous processing, native multimodal fusion, and dynamic value alignment to build automated complex reasoning covering the entire lifecycle of corpora.On August 11th, the Shanghai Municipal Commission of Economy and Informatization issued the "15th Five-Year Plan for the Development of Shanghais Software and Information Service Industry." The plan outlines a tiered supply system combining large clusters, small clusters, and edge computing power. It calls for the development of ultra-large-scale intelligent computing clusters (100,000-card level) in Songjiang, Lingang, and Qingpu districts, and thousand-card level intelligent computing clusters in Baoshan, Pudong, and Jiading districts. The plan also guides the transformation of traditional data centers and information communication equipment rooms into hundred-card level edge intelligent computing centers to meet the ultra-low latency computing power needs of enterprises and individuals. Furthermore, it focuses on building Model-as-a-Service (MaaS) platforms for industries such as finance, education, healthcare, culture and tourism, and manufacturing, providing services such as industry application marketplaces, model customization and hosting, agent building, low-code development, API interfaces, computing power provision and management, and AI inference, thereby enhancing the level of intelligent cloud services.August 11th - According to a recent report from Omdia, as demand from smartphone manufacturers slows and memory prices rise, smartphone makers have significantly reduced their production plans. Meanwhile, display panel manufacturers are shifting excess capacity to the repair and refurbished smartphone market, driving rapid growth in display panel shipments in this market. Statistics show that in the first quarter of 2026, display panel shipments in the repair and refurbished smartphone market increased by 20% year-on-year, reaching 298 million units, exceeding for the first time the shipments of display panels to smartphone manufacturers (289 million units) during the same period.According to Al Jazeera, the death toll from the war in the Gaza Strip has reached 73,387.On August 11, two residential land parcels in Beijing were auctioned off. Located in Fangshan District and Shunyi District respectively, the total planned above-ground construction area is approximately 103,200 square meters. The total starting price was 1.663 billion yuan. Ultimately, both parcels were sold at the reserve price. The winning bidders were PowerChina Real Estate and Beijing Yinsheng Panmei, respectively, with a total transaction amount of 1.663 billion yuan.

COVID Concerns Send Copper Lower And Gold to A Three-month High

Skylar Williams

Nov 15, 2022 17:43

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On Tuesday, gold prices stayed at three-month highs as Fed officials sent mixed signals on the course of U.S. interest rates. Copper prices dipped as mounting COVID-19 cases in China, a major importer, signaled additional possible demand disruption.


Fed members Lael Brainard and Christopher Waller forecast a slower rate hike this week. They also suggested the Fed's cycle of rate hikes wasn't over and that high inflation required more tightening.


Slower interest rate increases may help gold and other commodity prices in the short term, but they will weaken gold's long-term appeal.


Spot gold fell 0.1% to $1,768.72 per ounce, while gold futures fell 0.3% to $1,779.90 as of 19:26 EDT (00:26 GMT). Bullion prices rose more than 5% last week, while the dollar sank after October inflation data was lower than expected.


The markets expect the Fed to hike rates by 50 basis points in December. This will be the highest interest rate since the 2008 financial crisis.


Rising Treasury yields boosted the potential cost of holding non-yielding assets, which hurt metal markets this year.


Gold is close to breaking even while being considerably below its yearly highs. Recent gains reduced the metal's year-to-date losses to 3%.


Copper prices were 0.3% lower after plunging nearly 3% on Monday.


Copper futures fell 0.3% to $3.8290/lb. Increasing COVID-19 cases in China hampered efforts to alter the country's zero-COVID policy.


The world's largest copper importer relaxed travel and quarantine restrictions last week. Increased local illnesses signal officials won't remove restrictions fully.


Shanghai and Wuhan are facing renewed lockdown restrictions, which is expected to hurt commodity demand in China.


This year, COVID lockdowns in China stopped economic activity and reduced China's thirst for imports.