1 month ago
The yuan-denominated crude oil futures trading in China hit this week their highest level since the contract was launched in 2018 as escalating threats to Middle East's oil supply and increased purchases by Chinese refiners push prices higher.
Launched in March 2018, the INE crude oil futures contract (SC) is a physical-settlement contract priced and traded in Chinese yuan on the Shanghai International Energy Exchange.
The crude futures soared to as much as 929.4 yuan, or $138.50 per barrel, on the exchange, according to data compiled by Bloomberg.
The price spike followed the intensified concerns about supply from the Middle East after the East-West oil pipeline in Saudi Arabia was attacked by drones late last week, forcing the Kingdom to temporarily shut it down.
The international crude oil benchmarks also rallied at the start of this week. As of Tuesday, no timeline has been given as to when the pipeline would come back and continue helping Saudi Arabia bypass the Strait of Hormuz with shipments out of the Red Sea port of Yanbu.
#contract #east #saudi
Launched in March 2018, the INE crude oil futures contract (SC) is a physical-settlement contract priced and traded in Chinese yuan on the Shanghai International Energy Exchange.
The crude futures soared to as much as 929.4 yuan, or $138.50 per barrel, on the exchange, according to data compiled by Bloomberg.
The price spike followed the intensified concerns about supply from the Middle East after the East-West oil pipeline in Saudi Arabia was attacked by drones late last week, forcing the Kingdom to temporarily shut it down.
The international crude oil benchmarks also rallied at the start of this week. As of Tuesday, no timeline has been given as to when the pipeline would come back and continue helping Saudi Arabia bypass the Strait of Hormuz with shipments out of the Red Sea port of Yanbu.
#contract #east #saudi
1 month ago
The yuan-denominated crude oil futures trading in China hit this week their highest level since the contract was launched in 2018 as escalating threats to Middle East's oil supply and increased purchases by Chinese refiners push prices higher.
Launched in March 2018, the INE crude oil futures contract (SC) is a physical-settlement contract priced and traded in Chinese yuan on the Shanghai International Energy Exchange.
The crude futures soared to as much as 929.4 yuan, or $138.50 per barrel, on the exchange, according to data compiled by Bloomberg.
The price spike followed the intensified concerns about supply from the Middle East after the East-West oil pipeline in Saudi Arabia was attacked by drones late last week, forcing the Kingdom to temporarily shut it down.
The international crude oil benchmarks also rallied at the start of this week. As of Tuesday, no timeline has been given as to when the pipeline would come back and continue helping Saudi Arabia bypass the Strait of Hormuz with shipments out of the Red Sea port of Yanbu.
#crude #futures #middle #saudi
Launched in March 2018, the INE crude oil futures contract (SC) is a physical-settlement contract priced and traded in Chinese yuan on the Shanghai International Energy Exchange.
The crude futures soared to as much as 929.4 yuan, or $138.50 per barrel, on the exchange, according to data compiled by Bloomberg.
The price spike followed the intensified concerns about supply from the Middle East after the East-West oil pipeline in Saudi Arabia was attacked by drones late last week, forcing the Kingdom to temporarily shut it down.
The international crude oil benchmarks also rallied at the start of this week. As of Tuesday, no timeline has been given as to when the pipeline would come back and continue helping Saudi Arabia bypass the Strait of Hormuz with shipments out of the Red Sea port of Yanbu.
#crude #futures #middle #saudi
1 month ago
Vale S.A. (NYSE:VALE) is considering making its debut in China's domestic bond market as soon as this year, with CFO Marcelo Bacci saying the company is preparing for a potential Panda bond issuance. The move would be strategically significant because China accounts for roughly half of Vale's revenue, making renminbi financing a natural extension of its relationship with its largest market. Bloomberg reported that Vale is still ****** sing the market, including whether it can obtain a maturity longer than the typical two-, three-, or five-year terms available to international issuers.
The timing is also favorable for Vale because China's Panda bond market is expanding rapidly. Reuters reported that foreign issuers have increasingly turned to Asian bond markets to diversify funding sources, while Chinese yuan bond issuance has reached record levels in 2026. For Vale S.A. (NYSE:VALE), the potential transaction therefore looks less like a necessity for raising capital and more like an effort to diversify its investor base, potentially lower funding costs, and build a longer-term financing relationship with Chinese investors.
The strongest bullish argument is that Vale S.A. (NYSE:VALE) could potentially lower and diversify its cost of capital by accessing a large pool of Chinese investors at a time when renminbi funding remains relatively inexpensive. Reuters noted that Chinese onshore and offshore yuan bond markets have experienced record issuance this year, with foreign borrowers increasingly using these markets to diversify away from traditional funding currencies. If Vale can achieve competitive pricing, a Panda bond could provide an additional funding channel alongside its established dollar financing, reducing its dependence on a single market.
The move could also create a better natural match between Vale's revenues and its financing currency. Because China represents approximately half of Vale's revenue, raising at least some debt in renminbi could provide a degree of currency alignment with its Chinese business exposure. More importantly, establishing itself as a repeat issuer could strengthen Vale's relationships with Chinese banks and institutional investors, potentially giving it access to another source of capital when global dollar markets become less attractive.
There is also a broader strategic benefit. China is actively expanding the Panda bond market and encouraging international companies to use it. Official Chinese data showed that more than 160 billion yuan of Panda bonds were issued during the first half of 2026, up 69% year over year, demonstrating that the market is becoming more established and liquid. Vale entering this market could therefore position the company early in a growing financing ecosystem rather than waiting until it becomes more crowded.
#chinese #bond #panda #China
The timing is also favorable for Vale because China's Panda bond market is expanding rapidly. Reuters reported that foreign issuers have increasingly turned to Asian bond markets to diversify funding sources, while Chinese yuan bond issuance has reached record levels in 2026. For Vale S.A. (NYSE:VALE), the potential transaction therefore looks less like a necessity for raising capital and more like an effort to diversify its investor base, potentially lower funding costs, and build a longer-term financing relationship with Chinese investors.
The strongest bullish argument is that Vale S.A. (NYSE:VALE) could potentially lower and diversify its cost of capital by accessing a large pool of Chinese investors at a time when renminbi funding remains relatively inexpensive. Reuters noted that Chinese onshore and offshore yuan bond markets have experienced record issuance this year, with foreign borrowers increasingly using these markets to diversify away from traditional funding currencies. If Vale can achieve competitive pricing, a Panda bond could provide an additional funding channel alongside its established dollar financing, reducing its dependence on a single market.
The move could also create a better natural match between Vale's revenues and its financing currency. Because China represents approximately half of Vale's revenue, raising at least some debt in renminbi could provide a degree of currency alignment with its Chinese business exposure. More importantly, establishing itself as a repeat issuer could strengthen Vale's relationships with Chinese banks and institutional investors, potentially giving it access to another source of capital when global dollar markets become less attractive.
There is also a broader strategic benefit. China is actively expanding the Panda bond market and encouraging international companies to use it. Official Chinese data showed that more than 160 billion yuan of Panda bonds were issued during the first half of 2026, up 69% year over year, demonstrating that the market is becoming more established and liquid. Vale entering this market could therefore position the company early in a growing financing ecosystem rather than waiting until it becomes more crowded.
#chinese #bond #panda #China
2 months ago
DeepSeek has engaged CITIC Securities to prepare for an initial public offering on Shanghai's STAR Market, according to Reuters, citing two people with knowledge of the matter who spoke on condition of anonymity.
The Hangzhou-based AI startup aims to begin the IPO process this year, according to Reuters. The timing of a potential offering, the amount DeepSeek could seek to raise, and its target valuation have not been determined. DeepSeek and CITIC did not respond to requests for comment.
In China, firms pursuing a mainland listing are generally required to retain a securities company for pre-IPO tutoring before they can file an application, Reuters notes. The previously undisclosed arrangement with CITIC suggests DeepSeek is making concrete progress toward a public offering.
The IPO push comes as DeepSeek seeks capital to fund computing infrastructure, model development, and talent retention amid competition from rival Chinese and U.S. AI firms. A person familiar with the matter told Reuters that Liang Wenfeng sees the IPO as a way to build a compensation structure capable of holding onto the startup's most important engineers and researchers. The company has lost talent to rivals including ByteDance and Xiaomi.
According to Reuters, DeepSeek is currently raising a new funding round at a valuation of 500 billion yuan ($75 billion). In June, the startup closed a round of roughly $7.4 billion at a post-money valuation exceeding $50 billion, with Liang Wenfeng personally contributing 20 billion yuan. Tencent Holdings and battery company CATL contributed 10 billion yuan and 5 billion yuan, respectively, becoming the largest external shareholders, according to Reuters.
#deepseek #according #company
The Hangzhou-based AI startup aims to begin the IPO process this year, according to Reuters. The timing of a potential offering, the amount DeepSeek could seek to raise, and its target valuation have not been determined. DeepSeek and CITIC did not respond to requests for comment.
In China, firms pursuing a mainland listing are generally required to retain a securities company for pre-IPO tutoring before they can file an application, Reuters notes. The previously undisclosed arrangement with CITIC suggests DeepSeek is making concrete progress toward a public offering.
The IPO push comes as DeepSeek seeks capital to fund computing infrastructure, model development, and talent retention amid competition from rival Chinese and U.S. AI firms. A person familiar with the matter told Reuters that Liang Wenfeng sees the IPO as a way to build a compensation structure capable of holding onto the startup's most important engineers and researchers. The company has lost talent to rivals including ByteDance and Xiaomi.
According to Reuters, DeepSeek is currently raising a new funding round at a valuation of 500 billion yuan ($75 billion). In June, the startup closed a round of roughly $7.4 billion at a post-money valuation exceeding $50 billion, with Liang Wenfeng personally contributing 20 billion yuan. Tencent Holdings and battery company CATL contributed 10 billion yuan and 5 billion yuan, respectively, becoming the largest external shareholders, according to Reuters.
#deepseek #according #company
0.00$ raised of 0.00$ goal
0 donations
0.00$
to go
2 months ago
Micron Technology (MU) is facing an unusual problem after one of the strongest stretches in the company's history. Workers in Taiwan are threatening to strike over Micron's bonus structure, with two unions representing roughly 10,000 employees at the company's Taoyuan and Taichung facilities pushing for changes. More than 80% of participating union members backed strike action in an August survey, although a formal strike has not yet been authorized.
The timing is awkward for Micron. Its Taiwan operations are central to its memory manufacturing network just as artificial intelligence (AI) demand has pushed DRAM and high-bandwidth memory (HBM) into an extraordinary upcycle.
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#memory #taichung
The timing is awkward for Micron. Its Taiwan operations are central to its memory manufacturing network just as artificial intelligence (AI) demand has pushed DRAM and high-bandwidth memory (HBM) into an extraordinary upcycle.
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#memory #taichung
2 months ago
Sept. 7, 2026 5:18 am ET
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(2 min)
China’s foreign-exchange reserves edged higher in August against the backdrop of a weaker dollar and a surging trade surplus, renewing concerns about the yuan’s appreciation.
According to data released Monday by the People’s Bank of China, the reserves rose by $19.55 billion to $3.438 trillion in August. The result was higher than the $3.425 trillion expected by economists surveyed by The Wall Street Journal.
#august
Listen
(2 min)
China’s foreign-exchange reserves edged higher in August against the backdrop of a weaker dollar and a surging trade surplus, renewing concerns about the yuan’s appreciation.
According to data released Monday by the People’s Bank of China, the reserves rose by $19.55 billion to $3.438 trillion in August. The result was higher than the $3.425 trillion expected by economists surveyed by The Wall Street Journal.
#august
2 months ago
Shenzhen Longsys Electronics, a Chinese semiconductor company, is seeking up to HK$6.28 billion, or about $800 million, from a Hong Kong share sale.
The company set out the terms in a listing document on Monday. The memory chipmaker already trades in Shenzhen. Its Hong Kong offer price sits well below where the mainland stock trades.
Longsys is offering about 26 million shares at a maximum price of HK$240.60 per share. That sits 45% below the 376.88 yuan close in Shenzhen on Friday, Bloomberg reported. The stock has gained nearly 33% in 2026.
Follow us on X to get the latest news as it happens
The company expects to set the final offer price on September 4 and publish the allocation results by September 7. Trading of its H shares is expected to begin on September 8.
#september #price #trades
The company set out the terms in a listing document on Monday. The memory chipmaker already trades in Shenzhen. Its Hong Kong offer price sits well below where the mainland stock trades.
Longsys is offering about 26 million shares at a maximum price of HK$240.60 per share. That sits 45% below the 376.88 yuan close in Shenzhen on Friday, Bloomberg reported. The stock has gained nearly 33% in 2026.
Follow us on X to get the latest news as it happens
The company expects to set the final offer price on September 4 and publish the allocation results by September 7. Trading of its H shares is expected to begin on September 8.
#september #price #trades
2 months ago
The dollar index (DXY00) is down by -0.16% today. The dollar is modestly lower today, consolidating below last Friday's 2-week high. Today's rally in the Chinese yuan to a 3.5-year high is undercutting the dollar.
However, losses in the dollar are limited today as WTI crude oil climbs more than +2% to a 1-week high, which raises inflation expectations and could potentially persuade the Fed to raise interest rates, a supportive factor for the dollar. Also, weaker stocks today have boosted some liquidity demand for the dollar, and higher T-note yields have strengthened the dollar's interest rate differentials. Finally, the dollar has some carryover support from last Friday, when Fed Chair Warsh warned inflation isn't meaningfully slowing and vowed that policymakers will return inflation to their 2% target. The chance of a Fed rate hike at next month's FOMC meeting rose to 63% today from 36% before Warsh's speech.
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Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, ******* ysis, and headlines.
#today #dxy00 #chinese
However, losses in the dollar are limited today as WTI crude oil climbs more than +2% to a 1-week high, which raises inflation expectations and could potentially persuade the Fed to raise interest rates, a supportive factor for the dollar. Also, weaker stocks today have boosted some liquidity demand for the dollar, and higher T-note yields have strengthened the dollar's interest rate differentials. Finally, the dollar has some carryover support from last Friday, when Fed Chair Warsh warned inflation isn't meaningfully slowing and vowed that policymakers will return inflation to their 2% target. The chance of a Fed rate hike at next month's FOMC meeting rose to 63% today from 36% before Warsh's speech.
Was the Commodity Complex a Case of More of the Same Monday?
Dollar Slips on Dovish Bessent Comments
Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, ******* ysis, and headlines.
#today #dxy00 #chinese
2 months ago
Alibaba's net income collapsed 75% as capex surged 75%, swinging free cash flow to a 45 billion yuan outflow last quarter.
Burry exited Alibaba for JD.com months ago and says the stock must fall another 50% before he'd consider buying again.
Alibaba is raising $10.2 billion through a 3.7% dilutive share sale while insider purchases by Tsai and Wu totaled just $15 million.
Act now: the ****** yst who called NVIDIA in 2010 just named his top 10 AI stocks — and Alibaba didn't make the cut. Grab the names FREE today.
The AI spending boom has created an uncomfortable split in technology stocks. Investors are willing to reward companies that can turn massive infrastructure investments into recurring revenue, but they are becoming less forgiving when those investments crush profits and cash flow first.
#free #stocks #tsai #NVIDIA
Burry exited Alibaba for JD.com months ago and says the stock must fall another 50% before he'd consider buying again.
Alibaba is raising $10.2 billion through a 3.7% dilutive share sale while insider purchases by Tsai and Wu totaled just $15 million.
Act now: the ****** yst who called NVIDIA in 2010 just named his top 10 AI stocks — and Alibaba didn't make the cut. Grab the names FREE today.
The AI spending boom has created an uncomfortable split in technology stocks. Investors are willing to reward companies that can turn massive infrastructure investments into recurring revenue, but they are becoming less forgiving when those investments crush profits and cash flow first.
#free #stocks #tsai #NVIDIA
2 months ago
PDD Holdings, the Chinese parent company of bargain-shopping app Temu, reported second-quarter net income of 27.18 billion yuan ($4 billion), a 12% decline from the same period a year earlier. The result still cleared ***** yst expectations of 24.40 billion yuan, according to the Wall Street Journal.
Total revenue for the three months ended June 30 rose 8% to 112.36 billion yuan ($16.6 billion), the company said. ***** ysts had forecast revenue of 115.41 billion yuan, according to the Wall Street Journal.
Operating profit rose 8% year over year to 27.76 billion yuan ($4.1 billion). Total operating expenses climbed 13% to 36.58 billion yuan, driven by higher sales and marketing costs, the company said.
"We stepped up our ecosystem investments in the second quarter," said Jun Liu, vice president of finance at PDD Holdings, in a statement. "At this stage, our priority is helping merchants thrive and strengthening the broader industry ecosystem."
PDD has introduced a range of merchant support initiatives in recent quarters to counter competitive pressure from livestreaming and social commerce platforms. Short video apps such as ByteDance's Douyin and Xiaohongshu have captured a growing portion of consumer attention and spending that once flowed to established e-commerce players.
#billion #yuan #street #journal
Total revenue for the three months ended June 30 rose 8% to 112.36 billion yuan ($16.6 billion), the company said. ***** ysts had forecast revenue of 115.41 billion yuan, according to the Wall Street Journal.
Operating profit rose 8% year over year to 27.76 billion yuan ($4.1 billion). Total operating expenses climbed 13% to 36.58 billion yuan, driven by higher sales and marketing costs, the company said.
"We stepped up our ecosystem investments in the second quarter," said Jun Liu, vice president of finance at PDD Holdings, in a statement. "At this stage, our priority is helping merchants thrive and strengthening the broader industry ecosystem."
PDD has introduced a range of merchant support initiatives in recent quarters to counter competitive pressure from livestreaming and social commerce platforms. Short video apps such as ByteDance's Douyin and Xiaohongshu have captured a growing portion of consumer attention and spending that once flowed to established e-commerce players.
#billion #yuan #street #journal
2 months ago
Yangtze Memory Technologies filed for an initial public offering on the Shanghai Stock Exchange to raise $4.9 billion, in what would rank among China's largest semiconductor share sales in years, according to The Wall Street Journal.
The company, known as YMTC and based in Wuhan, China, said in its listing prospectus on Friday that it plans to issue between roughly 2.0 billion and 2.4 billion new shares, representing 10% to 12% of its post-offering share capital, with an overallotment option of up to 15%. The funds will be used to upgrade production lines and develop next-generation storage products. The company expects to list in 2027, according to the Wall Street Journal.
YMTC's parent company, CCSH Corporation, plans to list on Shanghai's STAR Market, according to the Nikkei Asia. The IPO comes as explosive demand from artificial intelligence has driven a surge in NAND flash chip prices, allowing YMTC's factories to run near full capacity.
The company's first-quarter results underscore that momentum. The company posted first-quarter revenue of 47.04 billion yuan, or $7.0 billion, a figure that surpassed what it had earned across all of 2024. Revenue from core NAND flash products rose nearly fivefold compared with the same period a year earlier, while quarterly net profit reached 33.38 billion yuan — more than twice what the company earned across all of 2025. The company said gross margin expanded to 77% in the quarter, up from 35% a year prior.
Counterpoint Research placed YMTC third in global NAND shipments, putting it ahead of Kioxia by volume, even as it continues to lag behind both Kioxia and Micron Technology when measured by revenue.
#according #street #journal
The company, known as YMTC and based in Wuhan, China, said in its listing prospectus on Friday that it plans to issue between roughly 2.0 billion and 2.4 billion new shares, representing 10% to 12% of its post-offering share capital, with an overallotment option of up to 15%. The funds will be used to upgrade production lines and develop next-generation storage products. The company expects to list in 2027, according to the Wall Street Journal.
YMTC's parent company, CCSH Corporation, plans to list on Shanghai's STAR Market, according to the Nikkei Asia. The IPO comes as explosive demand from artificial intelligence has driven a surge in NAND flash chip prices, allowing YMTC's factories to run near full capacity.
The company's first-quarter results underscore that momentum. The company posted first-quarter revenue of 47.04 billion yuan, or $7.0 billion, a figure that surpassed what it had earned across all of 2024. Revenue from core NAND flash products rose nearly fivefold compared with the same period a year earlier, while quarterly net profit reached 33.38 billion yuan — more than twice what the company earned across all of 2025. The company said gross margin expanded to 77% in the quarter, up from 35% a year prior.
Counterpoint Research placed YMTC third in global NAND shipments, putting it ahead of Kioxia by volume, even as it continues to lag behind both Kioxia and Micron Technology when measured by revenue.
#according #street #journal
2 months ago
Alibaba's net income collapsed 75% as capex surged 75%, swinging free cash flow to a 45 billion yuan outflow last quarter.
Burry exited Alibaba for JD.com months ago and says the stock must fall another 50% before he'd consider buying again.
Alibaba is raising $10.2 billion through a 3.7% dilutive share sale while insider purchases by Tsai and Wu totaled just $15 million.
Act now: the ******* yst who called NVIDIA in 2010 just named his top 10 AI stocks — and Alibaba didn't make the cut. Grab the names FREE today.
The AI spending boom has created an uncomfortable split in technology stocks. Investors are willing to reward companies that can turn massive infrastructure investments into recurring revenue, but they are becoming less forgiving when those investments crush profits and cash flow first.
#flow #burry #tsai
Burry exited Alibaba for JD.com months ago and says the stock must fall another 50% before he'd consider buying again.
Alibaba is raising $10.2 billion through a 3.7% dilutive share sale while insider purchases by Tsai and Wu totaled just $15 million.
Act now: the ******* yst who called NVIDIA in 2010 just named his top 10 AI stocks — and Alibaba didn't make the cut. Grab the names FREE today.
The AI spending boom has created an uncomfortable split in technology stocks. Investors are willing to reward companies that can turn massive infrastructure investments into recurring revenue, but they are becoming less forgiving when those investments crush profits and cash flow first.
#flow #burry #tsai
2 months ago
Arsenal women u17s win Shanghai Cup 3
Arsenal Women's Under-17s have been crowned the inaugural Shanghai Future Star Cup champions after beating Shanghai U17 in the final, capping an impressive week for the club's academy.
The victory means ******* nal return from Shanghai with silverware in both the boys' and girls' competitions.
Arsenal secured a 2-1 victory over Shanghai U17 in Friday's final to lift the first women's Shanghai Future Star Cup, the tournament's inaugural edition for girls' teams.
Held between 16 and 22 August at the Yuanshen Sports Center and Jiushi Kangqiao Sports Base, the competition brought together eight Under-17 sides, including Manchester City, Real Madrid, Bayern Munich, Real Sociedad, Paris FC, Shanghai U17 and China U17.
#victory
Arsenal Women's Under-17s have been crowned the inaugural Shanghai Future Star Cup champions after beating Shanghai U17 in the final, capping an impressive week for the club's academy.
The victory means ******* nal return from Shanghai with silverware in both the boys' and girls' competitions.
Arsenal secured a 2-1 victory over Shanghai U17 in Friday's final to lift the first women's Shanghai Future Star Cup, the tournament's inaugural edition for girls' teams.
Held between 16 and 22 August at the Yuanshen Sports Center and Jiushi Kangqiao Sports Base, the competition brought together eight Under-17 sides, including Manchester City, Real Madrid, Bayern Munich, Real Sociedad, Paris FC, Shanghai U17 and China U17.
#victory
2 months ago
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Unitree Robotics' humanoid robots may give M3GAN a run for her money.
The Hangzhou-based company's product lineup includes bipedal bots that can do backflips, kung fu and more moves that plenty of humans (and their knees) can only dream of. The "Superman," which the company previewed this week, can jump 2 meters and run up to 12.66 meters per second.
While the robots have certainly captured the attention of the internet, they're exciting investors, too. Unitree raised roughly 6.1 billion yuan ($904 million) in its initial public offering, which was oversubscribed more than 8,000 times by retail investors, and shares skyrocketed 460% when the firm debuted on the Shanghai market Wednesday.
Sign up for The Daily Upside at no cost for premium ******* ysis on all your favorite stocks.
#investors #sign #daily #robots
Unitree Robotics' humanoid robots may give M3GAN a run for her money.
The Hangzhou-based company's product lineup includes bipedal bots that can do backflips, kung fu and more moves that plenty of humans (and their knees) can only dream of. The "Superman," which the company previewed this week, can jump 2 meters and run up to 12.66 meters per second.
While the robots have certainly captured the attention of the internet, they're exciting investors, too. Unitree raised roughly 6.1 billion yuan ($904 million) in its initial public offering, which was oversubscribed more than 8,000 times by retail investors, and shares skyrocketed 460% when the firm debuted on the Shanghai market Wednesday.
Sign up for The Daily Upside at no cost for premium ******* ysis on all your favorite stocks.
#investors #sign #daily #robots
2 months ago
Shares in Unitree, one of China's largest manufacturers of humanoid robots, closed their first day of trading by more than 460%, showing strong investor appetite for China's robotics sector.
Unitree raised around $900 million in its IPO on Shanghai's STAR Market, the city's board for technology startups, at a valuation of $9 billion. After today's surge, Unitree is now worth around $66 billion, ahead of larger Chinese tech firms like Baidu and JD.com. It's also worth more than the most valuable U.S. robotics company, Figure AI, which got a $39 billion valuation in a September 2025 funding round.
Investors piling into Unitree represents the hype around China's robotics sector, which is responsible for almost all shipments of humanoid robots in the first half of the year. But ******* ysts views are mixed on how much potential companies like Unitree have: While the startup continues to push what their robots can do—recently, beyond human performance—continued struggles on the software side, as well as a recent U.S. ban on foreign-made robots, could weigh on the company's future.
Unitree reported 1.7 billion yuan ($252 million) in revenue in 2025, with almost 45% of that coming from overseas sales. It also generated 600 million yuan ($89 million) in profit last year. Most of Unitree's sales go towards research purposes, though some Chinese tech companies and state-owned enterprises are starting to explore using humanoid robots in their operations.
Unitree has been backed by fellow Hangzhou startup DeepSeek, as well as big tech firms like Alibaba, Ant Group and Tencent, as well as several state-backed investment funds.
Nomura, which gave a "buy" rating to Unitree shares on Wednesday, credited Unitree's "rapid product iteration and continuous innovation" as the foundation of a "first-mover advantage."
#billion #like
Unitree raised around $900 million in its IPO on Shanghai's STAR Market, the city's board for technology startups, at a valuation of $9 billion. After today's surge, Unitree is now worth around $66 billion, ahead of larger Chinese tech firms like Baidu and JD.com. It's also worth more than the most valuable U.S. robotics company, Figure AI, which got a $39 billion valuation in a September 2025 funding round.
Investors piling into Unitree represents the hype around China's robotics sector, which is responsible for almost all shipments of humanoid robots in the first half of the year. But ******* ysts views are mixed on how much potential companies like Unitree have: While the startup continues to push what their robots can do—recently, beyond human performance—continued struggles on the software side, as well as a recent U.S. ban on foreign-made robots, could weigh on the company's future.
Unitree reported 1.7 billion yuan ($252 million) in revenue in 2025, with almost 45% of that coming from overseas sales. It also generated 600 million yuan ($89 million) in profit last year. Most of Unitree's sales go towards research purposes, though some Chinese tech companies and state-owned enterprises are starting to explore using humanoid robots in their operations.
Unitree has been backed by fellow Hangzhou startup DeepSeek, as well as big tech firms like Alibaba, Ant Group and Tencent, as well as several state-backed investment funds.
Nomura, which gave a "buy" rating to Unitree shares on Wednesday, credited Unitree's "rapid product iteration and continuous innovation" as the foundation of a "first-mover advantage."
#billion #like
2 months ago
China's Baidu (NASDAQ:BIDU) reported its second-quarter results today, missing Wall Street estimates as continued weakness in its advertising business overshadowed growth in artificial intelligence.
Baidu reported second-quarter earnings per share of RMB7.22, missing the ****** yst estimate of RMB9.84. Meanwhile, revenue came in at RMB31.33 billion, down 4% year-over-year.
Baidu's traditional mainstay, online marketing revenue, was down 19% to 13.1 billion yuan compared to a year earlier due to cautious advertisers amid a stagnant macroeconomic environment.
Underneath the advertising decline, the company's AI-related businesses stood out. Baidu's AI Cloud Infrastructure revenue rose 50% year-over-year to RMB7.3 billion. GPU Cloud revenue within that segment shot up 283% year-over-year backed by rising demand for public cloud-based AI computing, up from 184% growth in the prior quarter.
AI applications rose 3% to 2.5 billion yuan, while AI marketing services were flat at 2.6 billion yuan. According to Baidu founder and CEO Robin Li Yanhong, the growing momentum in Baidu's core AI-powered business reaffirms its transition from an internet-centric company to an AI-first company.
#baidu #quarter #rmb7
Baidu reported second-quarter earnings per share of RMB7.22, missing the ****** yst estimate of RMB9.84. Meanwhile, revenue came in at RMB31.33 billion, down 4% year-over-year.
Baidu's traditional mainstay, online marketing revenue, was down 19% to 13.1 billion yuan compared to a year earlier due to cautious advertisers amid a stagnant macroeconomic environment.
Underneath the advertising decline, the company's AI-related businesses stood out. Baidu's AI Cloud Infrastructure revenue rose 50% year-over-year to RMB7.3 billion. GPU Cloud revenue within that segment shot up 283% year-over-year backed by rising demand for public cloud-based AI computing, up from 184% growth in the prior quarter.
AI applications rose 3% to 2.5 billion yuan, while AI marketing services were flat at 2.6 billion yuan. According to Baidu founder and CEO Robin Li Yanhong, the growing momentum in Baidu's core AI-powered business reaffirms its transition from an internet-centric company to an AI-first company.
#baidu #quarter #rmb7
2 months ago
Size isn't everything in China's IPO markets.
Unitree, perhaps China's most famous humanoid robotics maker, is in the middle of an initial public offering on Shanghai's STAR market, the city's board for tech startups, with a trading debut expected for this week. Then, later this week, the fast-fashion platform Shein will reportedly start its own IPO in Hong Kong, with shares potentially debuting as soon as Aug. 28, according to Reuters.
Shein's IPO dwarfs Unitree's, with the fast fashion giant hoping to raise as much as $3 billion, roughly three times what Unitree is targeting. And yet Unitree's IPO is getting most of the attention: Retail investors are scrambling to buy into the company, and secondary markets are predicting a massive jump in valuation after the startup's debut.
Unitree may be smaller and younger compared to Shein, which has a decade of global expansion under its belt. But in the eyes of investors, the robot maker is the more exciting bet, as appetites shift to AI and hardware, and away from e-commerce and internet platforms.
Unitree, founded by ***** Xingxing in 2016, has become a fixture in China's pop culture, thanks to its robots' dance routines at the CCTV Spring Festival Gala, China's most-watched television broadcast.
Unitree is raising 6.1 billion Chinese yuan ($904 million) in its IPO, at a market valuation of around $9 billion. The company claimed last week that the retail portion of its offering was more than 8,000 times oversubscribed.
#maker
Unitree, perhaps China's most famous humanoid robotics maker, is in the middle of an initial public offering on Shanghai's STAR market, the city's board for tech startups, with a trading debut expected for this week. Then, later this week, the fast-fashion platform Shein will reportedly start its own IPO in Hong Kong, with shares potentially debuting as soon as Aug. 28, according to Reuters.
Shein's IPO dwarfs Unitree's, with the fast fashion giant hoping to raise as much as $3 billion, roughly three times what Unitree is targeting. And yet Unitree's IPO is getting most of the attention: Retail investors are scrambling to buy into the company, and secondary markets are predicting a massive jump in valuation after the startup's debut.
Unitree may be smaller and younger compared to Shein, which has a decade of global expansion under its belt. But in the eyes of investors, the robot maker is the more exciting bet, as appetites shift to AI and hardware, and away from e-commerce and internet platforms.
Unitree, founded by ***** Xingxing in 2016, has become a fixture in China's pop culture, thanks to its robots' dance routines at the CCTV Spring Festival Gala, China's most-watched television broadcast.
Unitree is raising 6.1 billion Chinese yuan ($904 million) in its IPO, at a market valuation of around $9 billion. The company claimed last week that the retail portion of its offering was more than 8,000 times oversubscribed.
#maker
2 months ago
BEIJING, Aug 18 (Reuters) - China's Xiaomi Corp posted a fall of 42.6% in second-quarter net profit on Tuesday, missing ****** ysts' estimates, as higher costs of memory and other components squeezed margins for the maker of smartphones and electric vehicles.
Adjusted net profit of 6.2 billion yuan ($919.50 million)for the period from April to June, fell short of an average ****** yst estimate of 6.6 billion yuan, according to LSEG data.
"Significant increases in key component costs, including memory, along with intensified industry competition, continued to create headwinds for our business," Xiaomi said in its earnings statement.
Second-quarter revenue came in at 108.9 billion yuan, it added, missing the average estimate of 112.2 billion.
Xiaomi's smartphone revenue fell 7.5% year-on-year to 42.1 billion yuan, while its smartphone gross margin declined to 8.5% from 11.5% a year earlier, clipped by higher prices for key components.
#costs
Adjusted net profit of 6.2 billion yuan ($919.50 million)for the period from April to June, fell short of an average ****** yst estimate of 6.6 billion yuan, according to LSEG data.
"Significant increases in key component costs, including memory, along with intensified industry competition, continued to create headwinds for our business," Xiaomi said in its earnings statement.
Second-quarter revenue came in at 108.9 billion yuan, it added, missing the average estimate of 112.2 billion.
Xiaomi's smartphone revenue fell 7.5% year-on-year to 42.1 billion yuan, while its smartphone gross margin declined to 8.5% from 11.5% a year earlier, clipped by higher prices for key components.
#costs
2 months ago
Arsenal's Under-17 women's side are taking part in the first women's edition of the Shanghai Future Star Cup, which runs from 16 to 22 August in Shanghai.
The competition offers ******* nal's young players the chance to measure themselves against elite opposition before the domestic season begins, following the club's successful involvement in the men's event earlier this month.
You can watch their game on Monday live here with a kick-off time of 12.35pm (UK)
The tournament is an international Under-17 academy competition staged at the Yuanshen Sports Center and the Jiushi Kangqiao Sports Base.
Arsenal are one of six invited European academies, joining Real Madrid, Manchester City, Bayern Munich, Real Sociedad and Paris FC, with China Under-17 completing the field.
#Competition
The competition offers ******* nal's young players the chance to measure themselves against elite opposition before the domestic season begins, following the club's successful involvement in the men's event earlier this month.
You can watch their game on Monday live here with a kick-off time of 12.35pm (UK)
The tournament is an international Under-17 academy competition staged at the Yuanshen Sports Center and the Jiushi Kangqiao Sports Base.
Arsenal are one of six invited European academies, joining Real Madrid, Manchester City, Bayern Munich, Real Sociedad and Paris FC, with China Under-17 completing the field.
#Competition
2 months ago
Mark Selby claimed his fourth China Open **** le with a 10-6 victory over Noppon Saengkham in Taiyuan.
Four-time world champion Selby, 43, has now won 26 ranking events and this success lifts him from ninth to fifth in the world rankings.
"I'm happy to be standing here as champion, I played some good stuff all week, somewhere near close to my best," said Selby.
The Englishman, who was appearing in his first ranking final in China for eight years, had trailed 4-2 early in the contest despite compiling a wonderful 138 break in the third frame.
However, he took the final two frames of the first session to draw level at 4-4 and when play resumed he knocked in breaks of 58, 90, 69 and 53 to reel off the next four and establish a healthy advantage.
#selby #first #mark #open
Four-time world champion Selby, 43, has now won 26 ranking events and this success lifts him from ninth to fifth in the world rankings.
"I'm happy to be standing here as champion, I played some good stuff all week, somewhere near close to my best," said Selby.
The Englishman, who was appearing in his first ranking final in China for eight years, had trailed 4-2 early in the contest despite compiling a wonderful 138 break in the third frame.
However, he took the final two frames of the first session to draw level at 4-4 and when play resumed he knocked in breaks of 58, 90, 69 and 53 to reel off the next four and establish a healthy advantage.
#selby #first #mark #open
2 months ago
In Hangzhou city, a city off the east coast of China and a major AI hub, a worker only identified by his surname Zhou, was laid off at a tech firm. Zhou's job, verifying the accuracy of large language models, was taken over by AI. His contract was terminated after he declined a lower-level reassignment with a 40% pay cut, 25,000 yuan ($3,640 USD) monthly to 15,000 yuan ($2,224 USD), according to Xinhua, a state news agency.
An arbitration panel ruled the dismissal was illegal and awarded Zhou with additional severance. The tech firm filed a lawsuit with a Hangzhou district court in August 2025, which they lost. They lost an appeal in April 2026.
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#hangzhou #lost #xinhua #august
An arbitration panel ruled the dismissal was illegal and awarded Zhou with additional severance. The tech firm filed a lawsuit with a Hangzhou district court in August 2025, which they lost. They lost an appeal in April 2026.
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The tax breaks in Trump's 'big beautiful bill' expire after 2028. Here are 4 moves to make before the window closes
#hangzhou #lost #xinhua #august
3 months ago
By Samuel Shen and Yantoultra Ngui
SHANGHAI/SINGAPORE, Aug 4 (Reuters) - Chinese robot maker Unitree Technology is expected to be valued at more than 50 billion yuan ($7.4 billion) after its planned Shanghai IPO, according to a report by Citic Securities, which is sponsoring the initial public offering.
Citic Securities expected the Hangzhou-based company to be worth 50.6 billion to 55.9 billion yuan six to 12 months after listing later this month. The valuation report, distributed to investors and seen by Reuters, is largely seen as guidance ahead of Wednesday's IPO price enquiry.
Unitree, which competes with Tesla and Boston Dynamics in making humanoid robots, aims to raise 4.2 billion yuan to fund innovation and production.
Robotics is seen as one of China's strategic industries key to Beijing's tech rivalry with Washington.
#shanghai #reuters #unitree #securities
SHANGHAI/SINGAPORE, Aug 4 (Reuters) - Chinese robot maker Unitree Technology is expected to be valued at more than 50 billion yuan ($7.4 billion) after its planned Shanghai IPO, according to a report by Citic Securities, which is sponsoring the initial public offering.
Citic Securities expected the Hangzhou-based company to be worth 50.6 billion to 55.9 billion yuan six to 12 months after listing later this month. The valuation report, distributed to investors and seen by Reuters, is largely seen as guidance ahead of Wednesday's IPO price enquiry.
Unitree, which competes with Tesla and Boston Dynamics in making humanoid robots, aims to raise 4.2 billion yuan to fund innovation and production.
Robotics is seen as one of China's strategic industries key to Beijing's tech rivalry with Washington.
#shanghai #reuters #unitree #securities
3 months ago
Biologics contract development and manufacturing organisation (CDMO) AsymBio is set to secure 1.2397bn yuan (approximately $184m) from Asymchem Group, Hillhouse Qirui and other investors to support its long-term growth.
The funds will be used for AsymBio's principal business operations and drive further expansion of its manufacturing capacity.
Asymchem Group will contribute 1.05bn yuan while Hillhouse Qirui will invest 177m yuan.
Following the transaction, Asymchem Group's shareholding in AsymBio is set to rise to 83.4965%.
Hillhouse Qirui's investment is described as reflecting long-term confidence in both AsymBio and the wider biologics CDMO sector.
#group #qirui
The funds will be used for AsymBio's principal business operations and drive further expansion of its manufacturing capacity.
Asymchem Group will contribute 1.05bn yuan while Hillhouse Qirui will invest 177m yuan.
Following the transaction, Asymchem Group's shareholding in AsymBio is set to rise to 83.4965%.
Hillhouse Qirui's investment is described as reflecting long-term confidence in both AsymBio and the wider biologics CDMO sector.
#group #qirui
3 months ago
O'Keeffe Stevens Advisory, an investment advisory firm, released its second-quarter 2026 investor letter. A copy of the letter can be downloaded here. During Q2 2026, the market experienced notable dispersion between perceived AI losers and winners. The firm has made investments early in AI infrastructure companies, which yielded gains during market repricing. The second quarter experienced strong equity rallies, with the S&P 500 gaining 15.2% and the Nasdaq 21.4%, marking the best quarter since Q2 2020. While the software sector faced challenges, with the iShares Software ETF dropping ~27% before a rally, reflecting high volatility. This volatility is seen as an opportunity, despite the potential for 'dead money' in underperforming stocks. The firm remains cautious, focuses on owning durable businesses at reasonable prices, holding cash, and hedging risks to navigate unpredictability. In addition, please check the Strategy's top five holdings to know its best picks in 2026.
In its Q2 2026 investor letter, O'Keeffe Stevens Advisory highlighted Warrior Met Coal, Inc. (NYSE:HCC). Warrior Met Coal, Inc. (NYSE:HCC) is a non-thermal metallurgical coal producer. On July 27, 2026, Warrior Met Coal, Inc. (NYSE:HCC) stock closed at $80.66 per share. One-month return of Warrior Met Coal, Inc. (NYSE:HCC) was -0.62%, and its shares gained 52.30% over the past 52 weeks. Warrior Met Coal, Inc. (NYSE:HCC) has a market capitalization of $4.26 billion.
O'Keeffe Stevens Advisory stated the following regarding Warrior Met Coal, Inc. (NYSE:HCC) in its Q2 2026 investor update:
"Warrior Met Coal, Inc. (NYSE:HCC): Unsurprisingly, a commodity-producing company's stock experienced Signiant volatility during the quarter. Had the quarter ended one month prior, it's possible we would have been talking about Warrior as a top performer during the quarter. On May 23, 2026, a gas explosion at a coal mine in Shanxi province killed 82 workers, making it China's deadliest coal mining accident since at least 2009. The blast occurred at the privately owned Liushenyu mine in the coal-belt region of Shanxi, and a deadly gas explosion occurred at the Liushenyu Coal Mine in Qinyuan county with 247 workers underground; all four coal mines under Tongzhou Group suspended operations following the incident, driving met coal prices higher. Blue Creek remains the next leg of the story. Increasing production and sales volume at this mine should drive revenue and EPS growth, even in the face of an overall weaker met coal pricing environment."
#coal #stevens #firm
In its Q2 2026 investor letter, O'Keeffe Stevens Advisory highlighted Warrior Met Coal, Inc. (NYSE:HCC). Warrior Met Coal, Inc. (NYSE:HCC) is a non-thermal metallurgical coal producer. On July 27, 2026, Warrior Met Coal, Inc. (NYSE:HCC) stock closed at $80.66 per share. One-month return of Warrior Met Coal, Inc. (NYSE:HCC) was -0.62%, and its shares gained 52.30% over the past 52 weeks. Warrior Met Coal, Inc. (NYSE:HCC) has a market capitalization of $4.26 billion.
O'Keeffe Stevens Advisory stated the following regarding Warrior Met Coal, Inc. (NYSE:HCC) in its Q2 2026 investor update:
"Warrior Met Coal, Inc. (NYSE:HCC): Unsurprisingly, a commodity-producing company's stock experienced Signiant volatility during the quarter. Had the quarter ended one month prior, it's possible we would have been talking about Warrior as a top performer during the quarter. On May 23, 2026, a gas explosion at a coal mine in Shanxi province killed 82 workers, making it China's deadliest coal mining accident since at least 2009. The blast occurred at the privately owned Liushenyu mine in the coal-belt region of Shanxi, and a deadly gas explosion occurred at the Liushenyu Coal Mine in Qinyuan county with 247 workers underground; all four coal mines under Tongzhou Group suspended operations following the incident, driving met coal prices higher. Blue Creek remains the next leg of the story. Increasing production and sales volume at this mine should drive revenue and EPS growth, even in the face of an overall weaker met coal pricing environment."
#coal #stevens #firm
3 months ago
Micron Technology, Inc. (NASDAQ:MU) stock gained by more than 3% during Monday's premarket session as risk appetite improves alongside a firm overnight tape. Nasdaq futures are up 1.57% while S&P 500 futures have gained 0.93%.
The broader market rally coincided with a major development in the global memory-chip industry that could reshape long-term competitive dynamics.
ChangXin Memory Technologies (CXMT), China's leading DRAM maker, made a blockbuster stock market debut that underscores Beijing's push to build a domestic memory champion.
While the listing highlights rising competition in commodity memory, ***** ysts believe Micron remains well positioned in the faster-growing AI memory market.
CXMT raised 57.92 billion yuan, or $8.55 billion, after pricing its IPO at 8.66 yuan per share. The stock surged more than 531% to about 54.60 yuan, valuing the DRAM maker at roughly 3.68 trillion yuan and making it China's most valuable listed company.
#memory
The broader market rally coincided with a major development in the global memory-chip industry that could reshape long-term competitive dynamics.
ChangXin Memory Technologies (CXMT), China's leading DRAM maker, made a blockbuster stock market debut that underscores Beijing's push to build a domestic memory champion.
While the listing highlights rising competition in commodity memory, ***** ysts believe Micron remains well positioned in the faster-growing AI memory market.
CXMT raised 57.92 billion yuan, or $8.55 billion, after pricing its IPO at 8.66 yuan per share. The stock surged more than 531% to about 54.60 yuan, valuing the DRAM maker at roughly 3.68 trillion yuan and making it China's most valuable listed company.
#memory
3 months ago
XPeng Inc. (NYSE:XPEV) is one of the 10 Fastest Growing Consumer Stocks to Buy Now.
On July 7, 2026, Autoliv announced that XPeng Inc. (NYSE:XPEV) and Autoliv Management signed a strategic cooperation framework agreement to support the development of safer mobility solutions for global markets. The companies said the partnership reflects their ambition to "strengthen collaboration across markets" and support future mobility development. Under the agreement, Autoliv and XPeng will expand collaboration across technology development, digitalization, supply chain coordination, sustainability, and global business expansion.
On July 1, XPeng announced vehicle delivery results for June and the second quarter of 2026. The company delivered 40,126 vehicles in June, bringing total second-quarter deliveries to 103,295 units. Deliveries of GX reached 6,739 units in June, and the model's 10,000th unit rolled off the production line. XPeng expects to debut the XPeng MONA L03 in China on July 2, with presale starting the same day, followed by a global market launch in July.
Image by Mikes-Photography from Pixabay
On May 29, Macquarie ***** yst Eugene Hsiao upgraded XPeng to Outperform from Neutral with an unchanged $19 price target after its Q1 results. Hsiao cited the company's margin-driven beat, with over 2 billion yuan in other revenue supported by VW technical services. Macquarie added that volume momentum is picking up and shares now have over 10% upside.
On July 7, 2026, Autoliv announced that XPeng Inc. (NYSE:XPEV) and Autoliv Management signed a strategic cooperation framework agreement to support the development of safer mobility solutions for global markets. The companies said the partnership reflects their ambition to "strengthen collaboration across markets" and support future mobility development. Under the agreement, Autoliv and XPeng will expand collaboration across technology development, digitalization, supply chain coordination, sustainability, and global business expansion.
On July 1, XPeng announced vehicle delivery results for June and the second quarter of 2026. The company delivered 40,126 vehicles in June, bringing total second-quarter deliveries to 103,295 units. Deliveries of GX reached 6,739 units in June, and the model's 10,000th unit rolled off the production line. XPeng expects to debut the XPeng MONA L03 in China on July 2, with presale starting the same day, followed by a global market launch in July.
Image by Mikes-Photography from Pixabay
On May 29, Macquarie ***** yst Eugene Hsiao upgraded XPeng to Outperform from Neutral with an unchanged $19 price target after its Q1 results. Hsiao cited the company's margin-driven beat, with over 2 billion yuan in other revenue supported by VW technical services. Macquarie added that volume momentum is picking up and shares now have over 10% upside.
4 months ago
Eric S. Yuan, Chief Executive Officer, reported a disposition of 58,655 shares of Zoom Communications, Inc. (NASDAQ:ZM) for approximately $5.1 million, according to an SEC Form 4 filing.
Metric
Value
Shares sold (indirectly held)
58,655
Metric
Value
Shares sold (indirectly held)
58,655
4 months ago
NVIDIA Corporation (NASDAQ:NVDA) is one of the best growth stocks to buy according to billionaire Dan Loeb. On June 24, the Financial Times reported that NVIDIA Corporation's (NASDAQ:NVDA) AI chips that are banned from export to China under US controls have more than doubled in price on China's black market over the past six months. The FT attributed the price spike to American enforcement actions, which have progressively choked off the illegal channels through which these chips were flowing into the country.
Copyright: fotomaximum / 123RF Stock Photo
According to the FT, the standout price jump is in Nvidia's DGX B300 server. This is a high-end system containing eight Blackwell GPUs. On China's black market, the price has climbed to over 8 million yuan, roughly $1.1 million, up from 4 million yuan just six months ago, said the report. For context, the same system retails in the US for around $400,000.
Separately, the RTX 6000 Pro has surged from around 50,000 yuan at the start of 2026 to as much as 130,000 yuan. This is a workstation chip widely used by Chinese AI startups to run large language models.
The FT noted that the price explosion reflects the basic economics of a constrained supply. It added that Chinese tech companies and AI startups, many of which are locked out of legal purchasing channels, have been relying on these grey and black market routes to access the computing power needed to develop and train AI models. Despite the US restrictions, Chinese demand for these chips has not diminished; if anything, it has intensified, noted the FT.
Copyright: fotomaximum / 123RF Stock Photo
According to the FT, the standout price jump is in Nvidia's DGX B300 server. This is a high-end system containing eight Blackwell GPUs. On China's black market, the price has climbed to over 8 million yuan, roughly $1.1 million, up from 4 million yuan just six months ago, said the report. For context, the same system retails in the US for around $400,000.
Separately, the RTX 6000 Pro has surged from around 50,000 yuan at the start of 2026 to as much as 130,000 yuan. This is a workstation chip widely used by Chinese AI startups to run large language models.
The FT noted that the price explosion reflects the basic economics of a constrained supply. It added that Chinese tech companies and AI startups, many of which are locked out of legal purchasing channels, have been relying on these grey and black market routes to access the computing power needed to develop and train AI models. Despite the US restrictions, Chinese demand for these chips has not diminished; if anything, it has intensified, noted the FT.
5 months ago
(Bloomberg) -- China is preparing to spend around 2 trillion yuan ($295 billion) over the next five years on building data centers across the country, fueling Beijing’s ambition to propel the domestic AI sector and surpass the US in a potentially game-changing technology.
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5 months ago
For most of his life, Jaosuayai Mor Krungthepthonburi knew only one path.
The 24-year-old spent years chasing success through Thailand’s unforgiving Muay Thai circuit, building his reputation one fight at a time while dreaming of bigger opportunities.
Today, the Sor Dechapan representative finds himself in the midst of one.
Before returning to action against Yuan Pengjie in a flyweight kickboxing showdown at The Inner Circle on Friday, June 5, streaming live exclusively for members at live.onefc.com from Bangkok’s iconic Lumpinee Stadium, Jaosuayai reflected on a recent experience that took him far outside the ring: a surprise appearance in a music video.
For the Thai striker, the opportunity represented something he never imagined possible during the early years of his fighting career.
The 24-year-old spent years chasing success through Thailand’s unforgiving Muay Thai circuit, building his reputation one fight at a time while dreaming of bigger opportunities.
Today, the Sor Dechapan representative finds himself in the midst of one.
Before returning to action against Yuan Pengjie in a flyweight kickboxing showdown at The Inner Circle on Friday, June 5, streaming live exclusively for members at live.onefc.com from Bangkok’s iconic Lumpinee Stadium, Jaosuayai reflected on a recent experience that took him far outside the ring: a surprise appearance in a music video.
For the Thai striker, the opportunity represented something he never imagined possible during the early years of his fighting career.
