Brief

MiniMax has launched Mavis, an AI agent framework designed with a "three ministries and six boards" structure, implying a sophisticated internal organization. The company also announced a significant funding round, securing tens of millions of RMB in its Pre-A round led by Tengxin Investment. This capital infusion is earmarked for the research and development of wearable vital sign monitoring products, the commercialization of its B2B supply chain optimization system, and international market expansion. AI

Recursive Superintelligence (RSI), a new AI startup, has emerged from stealth mode with $650 million in early-stage funding, valuing the company at $4.65 billion. The company is co-led by Richard Socher and includes prominent AI researchers like Tian Yuan Dong and Shi Tianlin. RSI's core mission is to develop AI systems capable of recursive self-improvement, aiming to automate scientific research in fields such as drug discovery and materials science. AI

Huahong Company reported a 18.22% year-over-year increase in revenue for the first quarter, reaching 4.625 billion yuan. Net profit saw a significant surge of 513.10% to 140 million yuan, primarily driven by higher average selling prices, increased wafer shipments, and favorable foreign exchange gains. Separately, Infobip's report highlights robust growth in communication interactions in the Asia-Pacific region, with a 106% increase in messages in 2025, and a strong trend towards AI adoption by businesses in the region. AI

BOE's materials technology subsidiary, Beijing BOE Material Technology Co., Ltd., has increased its registered capital by approximately 77%, from 520 million RMB to 920 million RMB. The company, established in August 2024 and wholly owned by BOE A, focuses on new material technology research and development, promotion, and sales of chemical and electronic specialized materials. AI

Zenbot, a startup focused on embodied AI, has secured nearly 100 million yuan in an angel funding round. The investment was led by precision manufacturing firms ChangYing Precision and Kedali, alongside other industry leaders. This funding will support Zenbot's development in the embodied AI sector. AI

Alibaba reported a significant increase in AI product revenue for the first quarter, reaching 8.97 billion yuan (approximately $1.3 billion USD). This figure represents triple-digit growth, indicating strong market adoption and expansion of their AI offerings. The surge in revenue contributed to a 7.8% increase in Alibaba's shares on the Hong Kong stock exchange. AI

Fervo, a geothermal energy startup, achieved the largest clean energy IPO in history, debuting on the stock market with a valuation exceeding $10 billion. The company utilizes advanced drilling and fracking techniques to harness Earth's heat, enabling 24/7 carbon-free power generation anywhere. Fervo's technology aims to provide a scalable and reliable energy source to meet the growing demand from sectors like AI and hyperscalers, with its first commercial plant in Utah set to begin delivering power soon. AI

Clio, a Canadian legal technology firm, has achieved $500 million in annual recurring revenue. This significant growth was fueled by the integration of AI into its platform starting in 2023. The company more than doubled its ARR from $200 million to its current $500 million within a two-year period, capitalizing on the increasing adoption of AI in the legal sector. AI

SoftBank's investment in OpenAI is reportedly boosting its quarterly profits, with analysts estimating its stake to be worth around $80 billion. However, concerns are rising about SoftBank's increasing debt to fund its AI strategy and the concentration of risk in a single company. Despite these worries, SoftBank's stock has seen significant gains, indicating investor confidence for the time being. AI

Yujia Power, an aerospace electric propulsion system developer, has secured two new rounds of funding totaling tens of millions of yuan, adding to a previous angel round to bring their total funding in under a year to nearly 100 million yuan. The company, founded in early 2024, focuses on creating lightweight and reliable electric propulsion systems for mid-to-large electric aircraft and specialized equipment. These funds will be allocated to further research and development, expanding their talent pool, and scaling up production lines to meet the growing demand in the low-altitude economy sector. AI

Lin Junyang, a former executive at ByteDance, has launched a new AI company that has already achieved a valuation of approximately $2 billion. The company is reportedly focused on AI development, though specific details about its products or services remain undisclosed. This venture marks a significant move in the competitive AI landscape, with early backing suggesting strong investor confidence. AI

Zephyr Intelligence, a company specializing in thermal safety solutions for new energy batteries, has filed for an Initial Public Offering (IPO) in Hong Kong. The company holds a significant 35.3% market share in the heavy truck thermal management sector. This move indicates a significant step for the company as it seeks public investment. AI

Lin Junyan has launched a new venture that has achieved a valuation of approximately $2 billion. This startup is focused on the burgeoning field of artificial intelligence. The news also mentions that Jia Yueting is shifting his focus to robotics. AI

Lin Junyan has launched a new company that has achieved a valuation of approximately $2 billion. The company is focused on the emerging field of AI. Separately, Tonghe Pharmaceutical received FDA approval for its Kagliejing raw material, used to treat type 2 diabetes. Additionally, Qiangda Circuit is capable of producing PCB samples for 800G and 1.6T optical modules. AI

Autonomous robot company Zibian Technology has secured new investment from ByteDance and SAIC Group, as well as a capital increase. The company's valuation is reportedly around $2 billion, with founder Lin Junyang also pivoting to robotics. AI

Siemens Mobility has agreed to acquire key parts of the Italian rail technology company MERMEC, specifically its signaling systems, telecommunications, and related maintenance services. Separately, Foxconn reported its first-quarter net profit at NT$49.92 billion, slightly exceeding estimates, with revenue at NT$2.12 trillion. Additionally, Lin Junyang has launched a new venture valued at approximately $2 billion. AI

Lin Junyan has launched a new venture that has achieved a valuation of approximately $2 billion. This startup is focused on the emerging field of AI, aiming to capitalize on the rapid advancements in the sector. The company is positioned to become a significant player in the AI landscape. AI

Nvidia's stock saw a brief surge in after-hours trading, increasing by 1.7%. Separately, the Shanghai Sci-Tech Innovation Fund announced that two of its portfolio companies, Jitaikeji and Yingpai Pharmaceutical, successfully listed on the Hong Kong Stock Exchange. This brings the fund's total number of IPOs to 202. AI

Lin Junyan has launched a new company that is valued at approximately $2 billion. This venture is part of a broader trend in the tech industry, with other notable figures like Jia Yueting shifting focus to robotics. The news comes alongside reports on global oil market forecasts and international trade relations. AI

Lin Junyan has launched a new company that has achieved a valuation of approximately $2 billion. This venture is part of a broader trend in the tech industry, with other notable figures like Jia Yueting shifting focus to new areas such as robotics. The financial markets also saw significant activity, with Shanghai and Shenzhen stock exchanges exceeding 2.5 trillion yuan in turnover. AI

Alibaba's enterprise-focused Agent platform, "Wukong," is beginning to scale commercially following the company's Q4 earnings report. The report indicated that Alibaba's AI investments are now yielding significant returns across models, cloud infrastructure, and applications. This development occurs as the broader generative AI sector experiences exponential growth, with mobile in-app purchases in this category surging by 232% year-over-year to $6.1 billion in the past fiscal year. AI

Alibaba Group has announced that its full-stack AI technology investment has entered a phase of commercialization and positive returns. The company's AI efforts in the fourth quarter of its fiscal year saw breakthroughs in models, cloud infrastructure, and applications. Specifically, Alibaba's enterprise-level Agent platform, "Wukong," has begun to scale up its deployment. AI

Mobile generative AI applications are experiencing exponential revenue growth, with in-app purchase income projected to reach $1.9 billion by Q1 2026, a 32-fold increase since Q1 2023. This sector is identified as the primary growth engine in the non-gaming app market, anticipating a 232% year-over-year increase in revenue to $6.1 billion between Q2 2025 and Q1 2026. The overall market is expected to see a compound annual growth rate exceeding 200% during this period. AI

Chinese autonomous driving company WeRide reported strong financial results, with annual revenue reaching 690 million yuan, a 90% year-over-year increase. The company's Robotaxi service saw significant user growth, with registered users in China doubling compared to the previous year, and daily orders per vehicle averaging over 17. WeRide's expansion into international markets, including Abu Dhabi and Dubai, alongside its L2 ADAS business, contributes to its growing revenue and operational efficiency. AI

AI-powered sports imaging company XbotGo has secured nearly 100 million yuan in a new funding round led by Ninebot Capital, with participation from other investors. The company develops AI cameras and cloud platforms designed to automatically capture, analyze, and generate content from sporting events, addressing a pain point for parents and coaches. XbotGo's latest product, the Falcon AI camera, offers advanced tracking and analysis capabilities, and the company is expanding its retail presence and partnerships. AI

A new venture founded by Lin Junyang has achieved a valuation of approximately $2 billion. This startup is reportedly focusing on the burgeoning field of AI, with details emerging from exclusive reports. The news also touches upon Jia Yueting's pivot to robotics and the discovery of undeclared pharmaceutical ingredients in popular candies. AI

A new company founded by Lin Junyan has achieved a valuation of approximately $2 billion. The venture is focused on the emerging field of artificial intelligence, specifically in areas related to intelligent emergence. This development highlights significant investment and interest in the AI sector. AI

Arm and SoftBank reportedly approached Cerebras Systems with an acquisition offer in the weeks leading up to the AI chip company's anticipated IPO. Cerebras Systems, however, rejected the acquisition attempt. This news comes as Arm and SoftBank are preparing for their own potential IPOs. AI

A new variant of the Zhuque-2 rocket, an improved and lengthened version, successfully launched and reached its designated orbit, marking a significant step for China's commercial liquid oxygen-methane rocket applications. Separately, Samsung Electronics began reducing production on May 14th to preemptively address potential quality issues, a move prompted by the Korean government's call for renewed labor negotiations on May 16th to mitigate economic risks from a potential strike. In a related development, Lin Junyi has founded a new company valued at approximately $2 billion. AI

Demingli anticipates continued tight supply in the storage industry this year, driven by AI demand and a shift towards high-value applications. This AI-fueled boom is expected to create long-term market opportunities, with contract prices for DRAM and NAND Flash projected to rise significantly in 2026. Meanwhile, Microsoft has invested over $100 billion in its partnership with OpenAI, covering initial investments and infrastructure costs. AI

A new company founded by Lin Junyang is valued at approximately $2 billion, focusing on AI-driven advancements. The storage industry is experiencing a boom driven by AI, with significant price increases expected for DRAM and NAND Flash in the second quarter of 2026. Jensen Huang's recent visit to China adds a variable to Nvidia's market strategy. AI

Blackstone Digital Infrastructure Trust, a newly formed data center REIT, successfully raised $1.75 billion through an IPO in the United States. The fund intends to focus on acquiring newly constructed data centers. Separately, multiple wealth management firms in China, including Huaxia Wealth, Ping An Wealth, and others, have announced the early termination of various wealth management products. These terminations are attributed to either significant redemptions leading to product liquidation or the achievement of profit-taking targets. AI

Airbus and Blackstone are reportedly nearing a deal to invest nearly €600 million in German drone startup Quantum Systems. This funding round could value Quantum Systems at €7 billion. Separately, Nissan reported a significant net loss of 533.1 billion yen for the 2025 fiscal year, attributing it to declining global sales, tariffs, and inflation. AI

Alibaba's AliExpress reported its Q4 fiscal year 2026 earnings, highlighting the "Brand+" initiative's success with over 30% active buyer penetration. This program, launched in September 2025, aims to help brands achieve incremental growth on AliExpress at half the cost of Amazon. The report also noted a significant meeting between Chinese President Xi Jinping and U.S. President Trump in Beijing. AI

Alibaba CEO Eddie Wu announced plans to significantly expand Alibaba Cloud's data center assets, aiming for a tenfold increase by 2027 compared to pre-AI boom levels, with capital expenditures potentially exceeding 380 billion yuan over three years. Wu also indicated a flexible approach to infrastructure, considering both self-building and leasing data centers, and exploring partnerships for co-building through sales of their own AI servers. This expansion is driven by the anticipated growth in AI computing power needs. AI

Wangyuan Technology is nearing its IPO on the Hong Kong Stock Exchange, aiming to become the first publicly listed company in the Chinese pool robot sector. The company is navigating a critical leadership transition, with founder Fu Guilan, over 70, preparing to hand over control to her son, Yu Qian. Despite a complex IPO journey involving multiple attempts and shifts between domestic and international markets, Wangyuan has shown strong revenue growth driven by its own brands, though this has come at the cost of increased sales expenses and reduced R&D investment. AI

Tencent intends to substantially increase its investment in AI infrastructure during the latter half of 2026. This move coincides with an alleged improvement in China's domestic AI chip production capabilities. The company is also reportedly in discussions to acquire a stake in Deepseek, a prominent AI research lab. AI