According to BlockBeats, on July 17, JPMorgan Chase lowered its price target for IBM (IBM.N) from $291 to $250.

According to BlockBeats, on July 17, the market capitalization of Brain (Coinbase Man), the Meme token of the Base chain, briefly reached $30 million, setting a new all-time high. Currently, the market capitalization has fallen back to about $20.14 million, with a 24-hour increase of over 3800% and a 24-hour trading volume of about $29.5 million.

Brain adopts the native B20 token standard launched by the Base Chain Beryl upgrade, and the token name is taken from Coinbase CEO Brian Armstrong. The main reason for the increased market attention is that Brian Armstrong recently changed his profile picture to an X, which is highly consistent with the Brain token icon, triggering community associations and driving a rapid increase in trading activity.

Currently, Brain has approximately 8,850 addresses holding the token, with the top 10 holders accounting for about 12.68% of the total, and liquidity of approximately $568,000.

BlockBeats cautions that the price of Meme coin is highly volatile, primarily driven by market sentiment, community buzz, and narrative, lacking stable fundamental support. Investors should be aware of the risks.

According to BlockBeats, on July 17, China's National Development and Reform Commission released an action plan for cooperation and development in artificial intelligence. The plan mentions promoting cross-border data flows, building and operating cross-border trusted data spaces in certain areas, and facilitating efficient, convenient, and secure cross-border data flows.

Collaboratively build high-quality corpora and industry-specific datasets, promote the joint construction and sharing of multilingual corpora, and lay a solid foundation for global artificial intelligence innovation. Promote the interconnection of intelligent computing facilities. Provide inclusive intelligent computing services to developing countries. Jointly build green energy-driven infrastructure, promote the green and low-carbon development of intelligent computing facilities, and provide computing power support for the sustainable development of global artificial intelligence.

We encourage the joint development of international open-source AI communities, promote international exchanges and cooperation within these communities, and facilitate the sharing of general-purpose models, fundamental algorithms, and tool components. We will collaboratively formulate open-source compliance systems and security guidelines. We support countries in conducting localized innovation based on open-source models, and build an open, shared, secure, orderly, and collaboratively governed global open-source AI ecosystem.

According to BlockBeats, on July 17, Bank of America's July global fund manager survey revealed a conflicting attitude among investors towards AI semiconductor trading: most are still not betting on the end of the cycle, but a growing number believe the trade is already overcrowded.

A survey shows that 82% of surveyed fund managers believe "going long on global semiconductors" is the most crowded trade globally, a record high. Meanwhile, technology stock allocations have decreased from a net 26% overweight to a net 18% overweight, indicating that investors are reducing some long positions but haven't actually shifted to shorting. The survey also shows that 61% of investors do not expect Hyperscalers to announce capital expenditure cuts this year.

The BofA survey also pointed out that the AI bubble has become one of the biggest tail risks, with the percentage of respondents choosing it rising from 28% in June to 45% in July. However, only some investors believe that AI stocks are already in a bubble phase; more people still see it as a "boom phase," meaning that momentum is still attracting capital inflows, but position and valuation risks are rising.

The survey was conducted from July 2 to July 9, covering 210 fund managers with total assets under management of approximately $555 billion.