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Top stories today:
- Baidu stock +2% after news it may supply LLM for iPhone in China
- EV price cuts continue in China, with BYDās Seagull hatchback -5%
- Insider selling reaches 3-year high as Thiel, Bezos, Zuck sell
- Stability CEO Emad Mostaque steps down
- SBF expected to get 15-to-50-year sentence on Thursday
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
1. Baidu stock +2% after reports that it may supply LLM for iPhone 16 in China
Baidu stock was +5% before closing at +2%, vs. 0% for the Hong Kong index:
Ex-China, Anthropic could be Appleās partner for LLMs, although Google remains the favorite, followed by OpenAI.
2. EV price cuts continue in China, with BYDās Seagull hatchback -5% to $9.7K
BYD Qin Plus, Chinaās top-selling car, saw its price -20% to $11.1K
EV cars in China are generally much cheaper than in the West:
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