Western companies are increasingly using Chinese AI models for common business tasks like workflow automation due to their significantly lower cost.

OpenAI raised $122 billion in a funding round in April.

OpenAI has engaged only two banks, Goldman Sachs and Morgan Stanley, for its IPO, which is a smaller syndicate compared to the one used by SpaceX.

Chief Technology Officers at companies including Uber and Coinbase have indicated their AI budgets are being rapidly depleted due to the high cost of top-tier US AI models.

The most advanced Chinese AI models are priced at less than $0.20 per million tokens.

South Korean exports grew in the high 50% range, cited as the fastest growth in decades and a sign of strong macroeconomic numbers.

The Philadelphia Semiconductor Index has risen almost 70% in the last two months and is on course for its best quarter ever.

The French stock market index is down for the year due to its significant exposure to the European luxury sector.

Many stock markets in the ASEAN region have experienced seven or eight consecutive days of foreign selling.

The South Korean won and the Taiwanese dollar have both weakened this year as their respective economies price in the inflationary impact of the Iran war.

Taiwan has increased its GDP growth forecast to 10%.

South Korean exports grew in the high 50% range, marking the fastest growth rate in decades.

Hong Kong's HSIA index is down on the year due to its heavy weighting in Chinese consumer stocks.

Nvidia CEO Jensen Huang is scheduled to visit South Korea after the Computex trade show in Taiwan.

Shares of LG Electronics and other South Korean robotics-related companies rose by as much as 26%.

Most Asian currencies, with the exception of the Chinese yuan, have weakened materially against the dollar this year.

Many personal computer-related stocks in Taiwan reached their daily trading limit, rising by 10%.

Foreign investors have been net sellers of Indian equities for the year.

The correlation between stocks within the NASDAQ index has fallen to near multi-year lows, indicating a market driven by individual company or sector themes rather than broad index movements.

The Italian stock market index is up 10% for the year, driven by its heavy weighting in chipmaker stocks.