Spot silver rose 1.71% intraday to break above $61/oz.

Analyst Henry Hu said the AI-driven rally prompted tech giants to raise large sums via equity and debt, boosting tech valuations and share prices. That capital is likely to be redeployed into physical capex rather than remain in financial markets, shifting funds from speculative financial assets into real assets. After benefiting from a liquidity tailwind, tech stocks may face valuation pressure or profit-taking; non-ferrous metal miners could be the next beneficiaries as demand and earnings improve. Non-ferrous miners begin reporting results late this month — watch earnings for confirmation.

Consumer 3D-printing firm Snapmaker has completed a new 1.0 bln yuan financing round led by Cathay Capital. TAL Education’s strategic investment arm co-invested, and existing shareholders—including Meituan’s strategic investment arm, Meituan Longzhu, Hillhouse Ventures and Shunwei Capital—substantially oversubscribed. Gaohu Capital acted as sole financial adviser. The transaction is among the largest single rounds in the consumer hardware sector since 2025 and the largest primary-market financing in consumer-grade 3D printing in the past two years.