Brief

Shengshu Technology, a Chinese AI company led by Zhu Jun, has secured nearly 2 billion RMB in Series B funding, with Alibaba Cloud as the lead investor. This marks their second major funding round in 2026, following a Series A+ round just two months prior. The company, founded in March 2023, is known for its Vidu video generation model, which rivals Sora, and its recently open-sourced Motus world model. AI

Copper prices have reached new all-time highs, driven significantly by the escalating demand from artificial intelligence data centers. Analysts at Citi predict further price increases, projecting copper could reach approximately $15,000 per metric ton. This surge is attributed to both AI-related demand and strategic inventory stockpiling, indicating a strong macro backdrop supporting higher commodity prices. AI

European AI startups have secured over $2.6 billion in funding this year, with three new frontier model companies emerging. These companies were founded by former researchers from DeepMind and Meta AI, establishing bases in London and Paris. AI

36Kr reports that Shenzhen Jialichuang Technology Group Co., Ltd. has passed its initial public offering review by the Shenzhen Stock Exchange's listing committee. In other news, Ruixin Micro announced that shareholder Huang Xu plans to reduce his stake by up to 1.53% within three months. The "8 o'clock氪" section of 36Kr also noted former US President Trump's anticipation for a trip to China, OPPO's accountability notice regarding Mother's Day copy, and Kuaishou's plan to spin off its AI company Keling with a $2 billion funding goal. AI

Today's Sleep, a sleep health company founded by Wang Teng, has secured a new round of funding from investors including CMC Capital and Hillhouse Ventures. This follows a previous seed round in January that included Ziyuan Robot and Hillhouse Ventures. The company, established in 2026, focuses on health consulting and AI software development. AI

A new private equity fund, Xing Sheng Xing Zhi M&A Equity Investment Fund, has been established with a capital of 333 million RMB. The fund's establishment was announced by 36Kr, and its operations will focus on equity investment, investment management, and asset management. Key contributors to the fund include Xingyin Wealth Management, a subsidiary of Industrial Bank, alongside several provincial and municipal investment entities. AI

中保投资（深圳）有限责任公司 has increased its registered capital by 100% to 200 million RMB. The company, established in December 2016 and wholly owned by 中保投资有限责任公司, engages in asset management, investment management, and equity investment. This funding round is part of a broader financial update, which also includes news about Japan's Engel coefficient reaching a record high and Kuaishou planning to spin off its AI subsidiary, Keling AI, with a $2 billion funding goal. AI

Entropy AI, a startup founded by Singaporean PhDs, has secured millions in seed funding from Chuxin Capital for its innovative 'Flyer O1' household flying robot. This AI-powered device is designed to act as a smart home butler, autonomously patrolling homes, identifying anomalies, and managing family schedules and tasks. The Flyer O1 aims to overcome the limitations of ground-based robots by utilizing flight for broader environmental sensing and task execution, with a focus on privacy through local data storage. AI

快手计划分拆其AI部门可灵，并寻求20亿美元融资，此举引发市场关注，快手股价应声上涨超过9%。同时，有报道称微软与OpenAI达成了新的合作协议，微软将为OpenAI提供高达380亿美元的营收分成付款，并预计在2030年前为OpenAI节省970亿美元的成本。此外，英伟达CEO黄仁勋在毕业典礼上发表了关于AI将所有人都拉回同一起跑线的演讲。 AI

South Korean regulators have concluded their investigation into a massive data breach at e-commerce giant Coupang, with a decision on penalties expected as early as next month. The company could face fines up to 1.5 trillion Korean won, based on its substantial revenue. Separately, major construction machinery manufacturers like Sany Group and XCMG are increasing prices by approximately 5%, citing rising raw material costs and a strong industry outlook. In other news, Nvidia CEO Jensen Huang addressed the graduating class of 2026, suggesting that AI is leveling the playing field for everyone. AI

Media mogul Byron Allen is acquiring a controlling stake in BuzzFeed for $120 million through his family office, Allen Family Digital. This deal provides a crucial lifeline to the digital publisher, which was facing potential bankruptcy and delisting from the Nasdaq. Allen will assume the roles of CEO and chairman, while BuzzFeed's founder, Jonah Peretti, will transition to president of BuzzFeed AI. AI

Beijing Weina Xingkong Technology Co., Ltd. has received acceptance for its IPO application on the Shanghai Stock Exchange's STAR Market, aiming to raise 5 billion yuan. The company plans to use the funds for projects including its headquarters and R&D center, as well as satellite platform core component development. In related news, AI chip company Cerebras Systems is reportedly seeking up to $4.8 billion in its IPO. AI

OpenAI conducted a significant internal share sale in October 2025, valued at $6.6 billion. Approximately 75 employees and former employees cashed out the maximum allowable amount of $30 million each. This event created numerous multimillionaires within the company, with President Greg Brockman reportedly holding shares valued around $30 billion. AI

Vbot has secured approximately 500 million RMB in a Pre-A funding round, marking the largest investment in China's consumer humanoid robotics sector. The company has already begun delivering the first 500 units of its Vbot Super Robot Dog. AI

Challenger startup Qianli Technology, co-founded by AI veteran Yin Qi and former Honor CEO Zhao Ming, aims to become a top global autonomous driving supplier within three years. The company is pursuing an aggressive strategy of deploying L4-level autonomous driving architecture into L2 production vehicles, leveraging a unified technical framework and a proprietary foundational model developed with Jieyue Xingchen. Qianli Technology has set ambitious targets, including delivering 8 million sets of intelligent driving solutions in three years and having 300,000 Robotaxis on the road by 2030, with early commercial successes seen in the Zeekr 8X model. AI

Investors are channeling significant capital into private nuclear energy ventures to power the UK's growing AI data centers. Over $370 million has been invested, with a notable surge of $170 million in 2024 alone. This pivot towards nuclear innovation is driven by the need for sustainable and sovereign energy solutions to meet the immense power demands of AI infrastructure. AI

Hong Kong-listed semiconductor firm Hua Hong Semiconductor experienced a significant net sell-off of HK$660 million by Southbound funds. In contrast, other tech companies like Xanadu, Dipu Technology, and Alibaba saw net inflows. Meanwhile, JD.com reported a 4.9% year-over-year revenue increase for its first quarter, exceeding 740 million annual active users. AI

Kuaishou is planning to spin off its AI video generation unit, Kling AI, for an independent stock market listing. The company is aiming for a valuation of $20 billion and is currently in the process of securing pre-IPO funding. This move is expected to occur around 2026. AI

A new private equity fund focused on mergers and acquisitions has been established in Fujian province, China, with a capital of 333 million RMB. The fund is backed by several prominent entities, including Xingyin Wealth Management, a subsidiary of Industrial Bank, and government investment arms from Fujian and Fuzhou. This development occurs alongside broader market commentary suggesting a positive outlook for the insurance industry and anticipation of significant AI advancements. AI

Chinese insurance funds are increasingly acting as limited partners (LPs) in private equity funds, focusing on both stable cash-flow assets like real estate and infrastructure, as well as growth-oriented investments in hard tech and emerging industries. This trend often involves multiple insurance institutions pooling resources, which helps meet project funding needs and mitigate investment risks. Meanwhile, Hong Kong's Transport Department is proposing regulations for ride-hailing services, including a cap on the number of licenses and a dynamic assessment mechanism, sparking debate among industry stakeholders regarding the appropriate number of licenses to issue. AI

Inflation, rather than economic growth, is the primary risk facing the Federal Reserve and the market, according to Castle Securities. This concern is amplified by an AI-driven capital expenditure boom, looser financial conditions, and a robust labor market, which could transmit recent oil price increases into broader price pressures. Meanwhile, the demand for AI computing power and significant investments from major manufacturers are driving a severe shortage in memory chips, with prices expected to rise sharply in the second quarter. This surge is also benefiting Chinese supply chains, with several listed companies experiencing substantial stock price increases. AI

SoftBank Group reported a net profit of 1.83 trillion yen for its fourth quarter, with Vision Fund contributing 2.88 trillion yen to its quarterly profit. Separately, Indonesia's Finance Minister announced plans to launch a new electric vehicle subsidy policy in June 2026 to mitigate the impact of rising global oil prices due to Middle East tensions. The country aims to reduce its reliance on fossil fuels by incentivizing the adoption of electric vehicles and motorcycles. AI

Anthropic is reportedly in discussions to secure a substantial funding round, potentially between $30 billion and $50 billion. This new investment would significantly increase the company's valuation to as much as $950 billion, more than doubling its previous valuation of $380 billion. The news highlights Anthropic's rapid growth and investor confidence despite its classification as a potential national security risk. AI

DeepSeek has reportedly been valued at $50 billion, while Anthropic's valuation is said to exceed $1 trillion. These figures, if accurate, would represent significant financial milestones for both AI companies. AI

Meta is constructing a massive $27 billion AI data center in rural Louisiana, a project that is significantly impacting the local economy and job market. The facility is expected to bring numerous construction and operational jobs to Richland Parish. This development highlights the growing infrastructure demands for advanced AI technologies and Meta's substantial investment in this area. AI

QiJing Auto, a premium intelligent new energy vehicle brand co-created by GAC Group and Huawei Qiankun, has secured over 1 billion yuan in funding. Investors in this round include CATL, a Bosch investment platform, and state-owned capital. Separately, Tencent's acquisition of Ximalaya has been conditionally approved by China's State Administration for Market Regulation, with specific commitments to prevent anti-competitive practices in the online audio market. AI

The National Science Foundation (NSF) has expanded its PhD fellowship program, awarding 2,599 grants to applicants out of nearly 14,000 who applied. This competitive program saw significant growth in applications for engineering, quantum science, and artificial intelligence. AI

Huzhou Data Technology Group Co., Ltd. has increased its registered capital from 200 million RMB to 1 billion RMB, a 400% rise. The company, established in June 2022, operates in areas such as internet data services and software development. This capital injection was accompanied by a change in legal representative, with Pan Zimin taking over from Wang Zhen. AI

The total balance of margin trading and securities lending in China's A-share market has surpassed 2.8 trillion yuan, indicating accelerated investment in technology stocks by leveraged funds. In response, some brokerages like Dongfang Securities are enhancing risk control by introducing a 115% immediate liquidation line. Meanwhile, the US corporate bond market saw $18 billion in new issuances on Monday, marking the busiest start to May in six years, with major issuers including Verizon and Toyota. AI

U.S. corporations issued $18 billion in new bonds on Monday, marking the largest such offering since Meta's substantial issuance in late April. This activity signals the start of what analysts anticipate will be the busiest May for bond markets in six years. Among the twelve investment-grade issuers were Verizon Communications and Toyota, as the market navigates inflation concerns amid an AI-driven capital expenditure boom. AI

Bose Quantum, a Chinese quantum computing startup, has secured over 100 practical applications across various industries, including oncology and brain-computer interfaces. The company has raised significant funding, totaling 1.84 billion yuan, with a recent B round of 1 billion yuan setting a new record for the domestic quantum computing sector. Bose Quantum's technology is being applied to complex problems like protein folding, drug discovery, and precise tumor margin identification, leveraging quantum principles for superior computational power. AI

China Jushi has announced a significant investment of 4.431 billion yuan to construct a new production line for electronic yarn and electronic cloth. This project aims to increase production capacity by 50,000 tons of electronic yarn and 320 million meters of electronic cloth annually. The company expects the investment to yield a 10.81% return and enhance its product structure, profitability, and global competitiveness. AI

Henderson Land has secured Hong Kong's first biodiversity loan, valued at approximately US$12.8 million, from HSBC and Hang Seng Bank. The funds will support the maintenance and management of native plant species and urban biodiversity surveys at its Central Yards development. This initiative aims to create a scalable model for sustainable urban development and bolster Hong Kong's standing in sustainable finance. AI

JD.com reported its first-quarter financial results, with revenue reaching 315.7 billion yuan, a 4.9% increase year-over-year. The company also saw a record high in operating profit for its retail division, which achieved a 5.6% profit margin. JD.com's annual active users exceeded 740 million, and its R&D investment grew by 59% in the quarter. AI

JD Health reported a 17% year-over-year revenue increase to 19.467 billion yuan in the first quarter, with operating profit rising 70.4% to 1.825 billion yuan. Additionally, JD Logistics announced its first-quarter revenue reached 60.58 billion yuan, a 29% increase, and its profit was 860 million yuan, up 41.6%. The cluster also mentions Kuaishou's plan to spin off its AI company, Keling AI, and seek $2 billion in funding, alongside a note about tech companies pushing programmers into AI development, consuming annual budgets rapidly. AI

Pillar, an Italian construction technology startup, has secured 12 million EUR in seed funding. The company plans to use this capital to develop an AI-powered operating system specifically designed for the construction industry. This platform aims to automate key processes such as quote generation, margin tracking, and workforce management. AI

Zhuzhou City Resources Investment Group has increased its registered capital from 3 billion to 4 billion RMB, a rise of approximately 33%. This change also saw a shift in its legal representative, with Liu Guoyi taking over from Yang Zhengming. The company, established in May 2019, engages in asset management services with its own funds, investment activities, and park management. AI

拼多多宣布了一项名为“新拼姆”的供应链投资计划，目标是在三年内投入1000亿元人民币，以建立自营品牌模式。该项目由一支约百人规模的独立团队负责，主要负责人之一是曾负责过腾讯产品和拼多多快团团的北陌。尽管拼多多和Temu的大部分员工对该计划知之甚少，但“新拼姆”已获得首期150亿元的现金注资，并组织了多个团队进行竞争性开发。 AI

China's Aero Engine Corporation has increased its registered capital to approximately 51.15 billion RMB. The company, established in 2016, is involved in the design, development, production, and sales of various propulsion systems for aircraft. This capital injection was a joint effort by entities including the Aviation Industry Corporation of China and COMAC. AI

Robo.ai has secured $180 million in financing from ATW Partners to advance its AI innovation in areas like smart logistics and eVTOL technologies. In parallel, Rivian has announced its own AI autonomy strategy, which includes the development of custom silicon chips to enhance its electric vehicle technology. AI

Senate Republicans are expressing concern over a $220 million request to enhance security at the White House complex, which includes funding for President Trump's new East Wing ballroom. This funding is part of a larger $72 billion package for ICE and Border Patrol, and GOP senators are hesitant due to deficit concerns. Democrats are also opposing the funding, urging it be redirected to public safety initiatives instead of the ballroom project. AI