On June 12, Morgan Stanley economist Bruna Skarica noted in a report that the UK's monthly GDP appears to be benefiting once again from the strong performance of the white-collar service sector, particularly in the information and communication technology (ICT) industry. She pointed out that the industry's output is currently growing by 6.7% year-on-year, and has increased by 45.4% since the fourth quarter of 2019, while the overall economy's value added has only grown by 6% during the same period. "The sectors most affected by the rapid proliferation of artificial intelligence are simultaneously driving GDP growth and productivity improvements, which seems far from coincidental," Skarica added. Given that the Bank of England indicated last year that the UK's structural productivity growth is negative, the bank should provide more commentary on this matter this year.

On June 12, AMD CEO Lisa Su delivered a speech at the Massachusetts Institute of Technology graduation ceremony, presenting a calm and rational perspective on the current wave of generative artificial intelligence (GenAI). She emphasized that while AI possesses powerful data processing capabilities, it cannot determine which problems are worth solving, cannot make difficult judgments in the absence of data, and cannot take responsibility for the outcomes.

On June 12, Hubei Jiangcheng Laboratory announced a significant breakthrough in capacitor technology, successfully developing a 3D multilayer on-chip capacitor with a capacitance density exceeding 1000 nanofarads per square millimeter. This capacitor can be directly applied to high-end chips such as AI/GPU chips and high-performance processors, supporting the development of high computing power and low power consumption chips. Currently, related technologies are undergoing process flow testing and small batch pilot production, aiming for large-scale application in advanced packaging. In circuits, capacitors essentially act as ultra-miniature 'reservoirs': they can quickly charge and discharge to stabilize voltage when chip current fluctuates dramatically, ensuring that the chip receives 'pure and stable' current. In computing power systems, capacitors are also likened to 'electric RAM': HBM serves as data buffering for computing power, while capacitors act as energy buffers. To supply power instantly to GPUs at full capacity, a multi-level power caching system from nanoseconds to seconds is essential.

The China Securities Regulatory Commission (CSRC) has approved Changxin Technology Group Co., Ltd.'s application for initial public offering (IPO) on the STAR Market, officially disclosing the approval document No. 1344 [2026]. As a leading integrated circuit manufacturer in the mass production of general-purpose DRAM in China, Changxin Technology successfully completed the registration process after passing the review by the Shanghai Stock Exchange's listing committee on May 27, taking about half a month. The IPO aims to raise 29.5 billion yuan, making it the second largest fundraising project in the history of the STAR Market, following SMIC. The raised funds will primarily be used for upgrading manufacturing lines for memory wafer production, enhancing DRAM memory technology, and developing advanced technologies. According to the prospectus, Changxin Technology achieved an operating income of 50.8 billion yuan in the first quarter of 2026, a staggering year-on-year increase of 719.13%, with a net profit attributable to the parent company reaching 24.762 billion yuan. It is expected that the operating income for the first half of 2026 will be between 110 billion and 120 billion yuan, with a net profit attributable to the parent company estimated at 50 billion to 57 billion yuan. During the previous listing committee meeting, regulators inquired about potential performance volatility risks and the second phase of the employee stock incentive plan, in which Zhu Yiming voluntarily relinquished over 20 billion yuan worth of shares.

On June 12, Nasdaq: The SpaceX IPO will begin quoting at 9:50 AM Eastern Time (9:50 PM Beijing Time). The SpaceX IPO will be eligible for trading starting at 10:00 AM Eastern Time (10:00 PM Beijing Time).

On June 12, Wells Fargo raised the target price for Qualcomm (QCOM.US) from $160 to $230.

On June 12, according to the Iranian official media IRNA, the main framework of the agreement text regarding the memorandum of understanding between Iran and the U.S. to end the war includes the following points: 1. The nuclear issue remains unchanged. The current memorandum does not involve agreements related to nuclear issues, and Iran will not make any new commitments. Negotiations on the nuclear issue will take place within 60 days after the signing of the agreement. 2. Strait of Hormuz: No transfer of management rights, nor any role for the U.S. Iran will not make any commitments regarding the transfer of management rights over the Strait of Hormuz. Future management arrangements for the strait will be resolved through dialogue and joint decision-making between Iran and Oman as regional matters. 3. Complete end to the war on all fronts, including Lebanon. The main goal of the memorandum is to end the war on all regional fronts. The U.S. commits to compel Israel to end the war in Lebanon, and the term 'extension of ceasefire' does not appear anywhere in the agreement text. 4. Unfreezing Iran's frozen assets through a clear mechanism. Some frozen assets will be immediately unfrozen after the signing of the agreement, while the remaining assets will be gradually unfrozen during subsequent negotiations. Tehran has received clear guarantees based on the requested mechanism. 5. War reparations are on the agenda. The losses caused by U.S. and Israeli aggression against Iran are one of the topics mentioned in the memorandum. The implementation mechanism for compensation will be agreed upon during negotiations within 60 days after the signing of the agreement. 6. Details of the lifting of primary and secondary sanctions will be reserved for final agreement discussions. The issue of lifting all U.S. sanctions and related international resolutions will be reviewed during the 60-day nuclear negotiations. 7. Three topics of the final agreement and the 60-day negotiation period. During the 60-day negotiation period, only three topics will be discussed: the continued advancement of a peaceful nuclear program; the lifting of unilateral U.S. sanctions; and the mechanism for loss compensation. Any other topics, including Iran's missile capabilities, will not be included in the negotiation agenda.

On June 12, the China Securities Regulatory Commission (CSRC) announced that it has approved the registration for the initial public offering of shares by Changxin Technology Group Co., Ltd.

On June 12, Japanese storage giant Kioxia's total market value exceeded 44 trillion yen, surpassing Toyota's approximately 43.8 trillion yen, marking the first time it has become Japan's most valuable company. Kioxia has seen a cumulative increase of 678% since the beginning of the year, while Toyota has experienced a cumulative decline of 17.3% during the same period; the Nikkei 225 index has risen 31.15% year-to-date.

On June 12, according to CCTV International News, US President Trump stated to the media on June 11 that the US has reached an agreement with Iran, which may be signed in Europe this weekend, with Vice President Pence in attendance. According to the US news outlet Axios, citing an American official and a source from the mediating country, the US and Iran have agreed on the text of the agreement, but it may not yet have been approved by Iran's Supreme Leader Ayatollah Ali Khamenei. Reports indicate that mediators from Qatar and Iranian Foreign Minister Zarif discussed for several hours on June 10, reaching a preliminary agreement that evening. During the talks, Qatari officials frequently communicated with US presidential envoy Hook. The report also mentioned that four US Air Force C-17 aircraft have departed for Europe to support Pence's potential participation in a signing ceremony in Geneva, Switzerland, in the coming days. Bloomberg reported today (June 12) that the US and Iran plan to use the upcoming G7 summit next week as an opportunity to sign the agreement, possibly as early as this Sunday. Geneva, Switzerland is being discussed as a 'potential signing location.'