Quick notes: Bubble territory | Domestic chips...

• Indian stocks: Squirreling away a portion of one’s income for a rainy day would typically be considered prudent behavior. Yet, in India, it’s helping make stocks overvalued.
  
  Systematic Investment Plans (SIPs) were introduced to help investors periodically put aside money in a disciplined manner. SIPs deduct cash every month from an investor’s bank account and invest the proceeds into selected mutual funds. As more money is directed toward these funds monthly, the portfolio managers are forced to buy stocks even when their valuations might not be as attractive.
  
  For instance, of the nearly 4,900 actively traded India-listed stocks, 300 stocks had a fall in revenue in the last two consecutive financial years. Yet, 216 of these stocks rose over the past 12 months. In fact, small-cap companies such as food packaging carton manufacturer Rollatainers and Tantia Constructions, an infrastructure company, have had three years of falling growth. Yet, their stock has risen more than 300% over the past 12 months.
  
  India records worst FII selloff among emerging markets in May



• Chip news:
  14-nanometer: Tata Electronics prepares ground for high-end chips
  
  Zoho into chips? India's Zoho plans $700 million foray into chipmaking
  
  Rising star: Alibaba's Yitian 710 is the fastest Arm-based CPU for cloud servers, study claims
  
  Moore Threads: Chinese AI GPUs used for three billion parameter LLM training
  
  Tech independence: Chinese govt pushes Huawei's HarmonyOS hard, sets adoption targets to beat Windows, Android, and iOS
  
  Defying sanctions: Blacklisted China chipmaker SMIC becomes the world's second-largest pure-play foundry by revenue.
  
  Decoupling: Huawei brings sanctions-busting Kirin 9000C CPU to desktop PCs to replace banned Intel Alder Lake chips



• Stranglehold on clean energy: China already makes as many batteries as the entire world wants




• No juice for EVs: Amid growing demand, America is running out of power.



• Energy transition: Coal share in India’s electricity mix drops below 50% for the first time since 1966



• Cow dung's key role in India's energy industry: Asia's biggest compressed biogas plant is in Lehragaga, Punjab. It can turn 300 tonnes of paddy straw into 33 tonnes of biogas every day.



• Begum Parveen Sultana: Raag Puriya Dhanashree




• Vegetarians, watch this: The Science of Vitamin B12



• Feeling hot, hot, hot? How India's cities can keep the mercury at bay



• Protein Supplements: Top medical body's advisory urges people to avoid protein supplements



• AI tramples on copyrights: Eight newspaper publishers sue Microsoft and OpenAI over copyright infringement. “The current GPT-4 LLM will output near-verbatim copies of significant portions of the publishers’ works when prompted to do so,”