EngineAI, a Chinese maker of humanoid robots, has filed confidentially for an initial public offering in Hong Kong, Bloomberg reported on Friday, citing people familiar with the matter. The Shenzhen-based startup is working with China International Capital Corp and Citic Securities on the possible share sale. The company is only three years old. It raised […]
Alibaba Group is offering $1.5 billion to acquire Pupu, one of China’s last independent online grocery platforms, according to Bloomberg. The bid is more than double a $600 million proposal from Sun Art Retail, the former Alibaba affiliate now backed by private equity firm DCP Capital. The move comes months after Meituan agreed to pay $717 million for […]
Dreame Technology, a Chinese maker of robotic vacuum cleaners, lawn mowers, and pool cleaners, is considering a Hong Kong initial public offering as soon as next year, according to Bloomberg. The company is working with advisers and could raise several hundred million dollars. The potential listing would add to a surge of Chinese tech companies choosing Hong […]
The dangers of artificial intelligence eclipsed nuclear weapons as the central concern at a strategic stability panel during the Shangri-La Dialogue in Singapore, with senior military officials warning that AI-driven systems are collapsing the time available for human decision-making in conflict. The annual defense summit, held from 29 to 31 May, drew defence ministers and military […]
MiniMax went public in Hong Kong less than five months ago. Its shares have since roughly quadrupled. Now the Chinese AI startup wants to do it again, closer to home. In a filing to the Hong Kong stock exchange on Sunday, MiniMax said it is exploring a listing on Shanghai’s STAR Market, the mainland’s tech-focused […]
SoftBank’s market cap topped Toyota’s on Monday for the first time in 23 years, lifted by its ~$65bn OpenAI stake and a Nikkei breaking 67,000 for the first time. SoftBank Group overtook Toyota Motor on Monday to become Japan’s most valuable listed company, the first time the auto giant has been dethroned from the top […]
Samsung Electronics and LG Uplus signed a memorandum of understanding on 27 May to jointly develop Integrated Sensing and Communication, or ISAC, a technology that would allow mobile network base stations to double as environmental sensors. The agreement was signed at LG Science Park in Magok, Seoul, with Samsung Research, the advanced R&D division within […]
GPT-5.5-Cyber will reach MUFG, SMBC and Mizuho through a verified-defender programme, the finance minister said, as Tokyo treats frontier AI as both threat and shield. The same models that make cyberattacks cheaper to run are now being handed, deliberately, to the people defending against them. Japan’s three megabanks will gain access to OpenAI’s latest model […]
Samsung’s 10.5%-of-profit bonus formula is only the second written profit-share agreement at a major Korean firm. Kakao’s union is already asking for more. Samsung Electronics’ unionised workforce voted in favour of the government-mediated pay agreement on Wednesday, formally closing the deal that narrowly survived an injunction filing from a smaller non-chip union on Tuesday. The vote […]
