While Microsoft’s Project Natick sits abandoned, Chinese company HiCloud is pushing forward with not one but two underwater data center projects. The newly launched facility off Shanghai combines offshore wind power with natural ocean cooling in what could be a game-changing approach to data center
Alibaba Group’s artificial intelligence investments in its e-commerce business are already generating returns, according to company executives. The Chinese tech giant reportedly achieved a 12% increase in advertising returns during AI testing as it prepares for the Singles’ Day shopping festival.
Alibaba Group is already recouping its substantial investments in artificial intelligence within its core e-commerce operations, according to reports from company executives. Vice president Kaifu Zhang, who oversees e-commerce AI applications at the Chinese tech giant, told reporters on Thursday that the company’s AI spending is already breaking even despite market concerns about excessive technology investments.
Shares of Chinese electric vehicle maker Nio plummeted over 12% following legal action by Singapore’s sovereign wealth fund. The lawsuit alleges securities law violations and revenue inflation practices at the automaker.
Hong Kong-listed shares of Nio Inc. reportedly plunged more than 12% in trading today after Singapore’s sovereign wealth fund GIC filed a lawsuit accusing the Chinese electric vehicle manufacturer of securities law violations. According to reports, the legal action specifically alleges that the company inflated its revenues, causing significant investor concern and the subsequent stock decline.
Chinese autonomous driving leaders Pony.ai and WeRide have received regulatory approval for Hong Kong secondary listings. The companies plan to issue approximately 102 million new shares each as they expand their global robotaxi operations.
China’s autonomous driving sector reaches a significant milestone as regulatory authorities approve secondary listings for two industry pioneers. Pony.ai and WeRide have received the green light from the China Securities Regulatory Commission (CSRC) to pursue listings in Hong Kong, marking a crucial step in their global expansion strategies and funding initiatives.
Asia-Pacific markets are set to open higher, diverging from Wall Street’s declines as renewed trade tensions between the U.S. and China intensify. Investors are monitoring key economic data and geopolitical developments that could shape regional market trajectories.
Asia-Pacific markets are bucking the downward trend seen on Wall Street, with major indices positioned for gains despite escalating trade tensions between the world’s two largest economies. The market divergence comes as investors digest fresh threats from former U.S. President Donald Trump and await critical economic data from China that could influence trading decisions throughout the region.
Asia-Pacific Markets Brace for Downturn Amid Renewed Trade Tensions Asia-Pacific markets are poised for a decline as renewed trade tensions…
