🧠 AI Models & Coding Tools

• Kimi Code Plan looks like a real step-up for autonomous long-horizon tasks. The capability jump feels stronger than the shock delivered by GLM5.2, making the paid add-on look worth increasing exposure to. 1

• Kimi K3 scores 57 on the Artificial Analysis Intelligence Index. The model is framed as comparable to Opus 4.8 and GPT-5.5, but still behind Fable 5 and GPT-5.6 Sol; the takeaway is that K3 has reached “global third” tier performance. 2

🧩 Semiconductors & AI Hardware

• TSMC management is openly signaling a strong multi-year cycle. When asked about revenue guidance years out, Chairman C.C. Wei said: “The next few years is going to be very good business for TSMC, that’s all I can say.” That is a clean long-cycle confidence tell from the top. 3

• Memory/AI names are still under pressure overnight. The tape is not showing a clean bounce yet; the selloff is extending rather than immediately stabilizing. 4

• EDA looks cooked. The phrasing is blunt, but the read is clear: this part of the semiconductor stack is being marked down hard and sentiment has flipped bearish. 5

📉 Market Structure & Trading Setups

• Many charts broke down after the daily candles. A bounce tomorrow could still save structure, but after-hours action looks grim. The only near-term bull case is an external pump catalyst from Trump overnight. 6

• 820 is flagged as an add zone. The asset is not specified, but the call is actionable: dips toward 820 are being treated as buyable. 7