A global tech rout wiped nearly $1.3 trillion from Nasdaq 100 companies over two days as AI valuation jitters spread from Wall Street to Asia — landing at an awkward moment when China's LineShine supercomputer just retook the world's #1 ranking for the first time since 2017, running on homegrown chips that sidestep US export controls entirely.

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• China's LineShine: Debuted atop the TOP500 list with 2.198 exaflops — more than 2 quintillion...