Woofun AI reports that the launch of Kimi K3, which topped the Arena code list with scores surpassing Claude and GPT models, has reignited the "East Rise, West Sets" narrative among Western analysts. Consequently, US AI and semiconductor stocks declined in pre-market trading, with NVIDIA down 2.51% and memory makers Micron, Seagate, and Western Digital falling 2-4%. AMAT and LRC dropped over 4%, while SpaceX shares fell over 4% after its 13th Starship test flight was aborted less than a second before liftoff.

Netflix shares plunged 11.34% due to slowed Q3 growth expectations, despite Q2 results meeting forecasts. In contrast, HSBC upgraded Apple to a buy rating with a $366 target price, citing an operational turning point. Goldman Sachs projects a 22% year-on-year surge in S&P 500 Q2 earnings, emphasizing that market focus is shifting from tech giants' AI spending to broader supply chain profit realization. Citigroup notes current volatility reflects sector rotation rather than a market collapse.