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Why Unitree’s 460% IPO Stock Pop Wasn’t Unusual in China

Humanoid robot maker Unitree’s 460% surge in its Shanghai stock market debut on Wednesday was the latest in a series of eye-watering first trading-day pops fetched by some recent tech initial public offerings in mainland China’s stock market. It followed last month’s debut of ChangXin Memory Technologies, also known as CXMT, whose stock shot up 472% on its first trading day. On the face of it, these extraordinary stock moves underscore Chinese investors’ euphoria about the tech sector and...

Alibaba Seeks to Raise $10 Billion in Share Sale to Fund AI Investments

The tech giant is accelerating its infrastructure spending to stay competitive in China’s fierce domestic AI race.

TikTok Reaches $400 Million Settlement With DOJ Over Child Privacy Lawsuit

The settlement removes another obstacle for TIkTok in the U.S., after the company reached a deal late last year to avoid a ban.

Exclusive: OpenAI Explored Stake in Stargate Power Developer Lancium

Nvidia, which is also providing a large backstop for an OpenAI data center campus in Ohio, ultimately invested in power developer Lancium.

Exclusive: Key OpenAI Sales Executive Kaylin Voss Returns to Salesforce

Voss' resignation comes a week after her former boss, Denise Dresser, left the company.

OpenAI Integrates ChatGPT into Apple Messages on Mac

OpenAI and Apple have a tense relationship

Dragoneer Founder Stad to Buy Timberwolves Controlling Stake

Dragoneer is a major backer of Anthropic and OpenAI.

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Nvidia to Reportedly Pay $6 Billion in Licensing and Hiring Deal with AI Model Startup Poolside

It isn't clear why Nvidia is paying such a large licensing fee.

Walmart’s U.S. Sales Slowdown Sends Stock Tumbling 9%

Finance chief John Rainey pointed out, however, that the "role of our stores has evolved" as ecommerce sales have grown.

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Alibaba CEO Expects AI-Related ARR to Reach $10 Billion by September

Alibaba’s capex in the quarter through June surged 75% from a year earlier as the company tries to meet growing customer demand for compute.

Exclusive: UBS Hires JP Morgan Banker Su to Ramp Up AI Banking Efforts

UBS is boosting its efforts in AI dealmaking.

Stripe Confirms Acquiring AI Marketplace Startup OpenRouter

Stripe is paying $7.5 billion for OpenRouter, a steep premium from its valuation of $1.3 billion in May.

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