MSCI's broadest index of Asia-Pacific shares outside Japan was 0.2% higher at 726.98, hovering near the 4-1/2-year high it touched last week. The index is up more than 27% this year, on course for its best year since 2017.

Japanese content trade group CODA, whose members include Studio Ghibli, issued a letter to OpenAI demanding the AI company stop using their content to train Sora 2.

Enthusiasm about artificial intelligence and the companies that produce AI services has been overflowing for months. Companies from Amazon to Microsoft to OpenAI have announced a steady stream of multibillion-dollar deals with each other, r aising questions over the sustainability of the industry and its sources of funding.

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(Reuters) -Equities saw their sharpest slide in seven months in Asia on Wednesday, with tech stocks leading losses as investors hit the brakes on a prolonged, artificial intelligence-driven rally. The retreat from record highs was also fuelled by concerns that equity markets may be overstretched,

The surge in the valuations of AI-related stocks has been particularly marked for Chinese chipmakers. Shanghai-listed Cambricon Technologies trades at a price-to-earnings ratio of 506.2 and SMIC trades on 221.3 times earnings, compared with Nvidia’s multiple of 57.7 times. TSMC, the world’s largest chip foundry, trades on 24.7 times earnings.