8:30 Krypton | NVIDIA announces that its CEO Jensen Huang has resigned, Trump suggests Tim Cook take over the position; Is Tencent "laying off 50% of its staff"? Insiders respond; The operating service provider of Dove has been fined 800,000 yuan for promoting wrong views on love and marriage.
Today's Hotspot Guide
Zhang Yiming Speaks Again About ByteDance's AI Business
Ministry of Commerce: China and the US are maintaining close communication on issues including tariff reduction, trade and investment
The three major US stock indices closed lower collectively, with NVIDIA's share price down by more than 4%
Progress has been made in the merger negotiations between SpaceX and Tesla, and the transaction is expected to be announced as early as December
United Airlines bans AI agents including Muse and Instinct from booking flights
TOP 3 Major News
Nvidia Announces CEO Jensen Huang Resigns, CFO Colette Kress Appointed Interim CEO
On November 12, Nvidia announced that the company's board of directors has approved Jensen Huang's resignation from his positions as President, Chief Executive Officer and Director of the company, effective immediately. The company's current Executive Vice President and Chief Financial Officer Colette Kress will serve as Interim CEO, while continuing to hold the CFO position until a formal successor is confirmed. The board of directors will launch the selection process for the new CEO, considering both internal and external candidates. The Nvidia board of directors also appointed Harvey C. Jones as the company's first Chairman of the Board. Jones previously served as CEO and Executive Chairman of Synopsys.
On the same day, U.S. President Trump stated that after Jensen Huang's resignation, Tim Cook should take over as the Chief Executive Officer of Nvidia. "Jensen Huang has done an excellent job, but he has now resigned, and the only person who can succeed him is Cook, the Executive Chairman of Apple," he said. "Let one legend succeed another legend." On the same day, American entrepreneur Elon Musk responded to a netizen's suggestion that he hire Jensen Huang on a social media platform, saying: "That would be my honor."
According to another source familiar with the matter, Interim Chief Executive Officer Colette Kress will convene a meeting of the executive team at the chip company's headquarters in Santa Clara, California on November 13. The person familiar with the matter, who requested anonymity due to the confidentiality of the information, said that Kress will discuss leadership arrangements and business continuity plans with a group of senior management personnel. (CLS) (Jiemian News)
Image attached
Insiders: The claim that "Tencent is laying off 50% of its staff" is completely untrue
According to news on November 12, in response to the external claim that "Tencent is laying off 50% of its staff", Jiemian News learned from insiders close to Tencent that during Tencent's 28th anniversary Linktime online live broadcast, Tencent's management took the initiative to express its determination to accelerate organizational transformation, and specially noted that this round of adjustment is different from the "cost reduction and efficiency improvement" initiative a few years ago. The previous round was relatively passive and focused more on "cost reduction"; this round is a proactive move for the AI era, focusing more on "efficiency improvement", motivating teams to create new value, encouraging frontline colleagues to step forward actively, while the middle management needs to become flatter and more agile. To adapt to the new transformation, the internal team needs to proactively explore new operation methods and new business tracks: 50% of the personnel will act like the land army, take clear responsibility for their posts, and deliver good performance in existing core businesses through efficiency improvement; the other 50% will act like the navy, embrace the new industry wave, explore AI Native scenarios and expand new development space. This is the company's reallocation of internal resources to adapt to the AI era, which is likely the source of misinterpretation that spawned the so-called "50% layoff" rumor, and this claim is completely untrue. (Jiemian News)
Promoting incorrect views on love and marriage, Dove's operating agent was fined 800,000 yuan
On November 12, according to the information on typical illegal advertisement cases in the Yangtze River Delta released by the official WeChat account "Shanghai Market Regulation", Shanghai Zongzheng Food Co., Ltd., the operating entity of the "Dove Official Flagship Store" on the Kuaishou platform, designed, produced and released promotional videos in the store in August 2026 to promote the "Dove Chocolate Colorful Gift Box". The videos contained content such as "I begged my boyfriend for the Dove colorful gift box for a long time but he never bought it for me. Today, when my boyfriend was not around, I shared the related content on Douyin with my ambiguous partner, who drove 2 hours to send it to me. It's so sweet". It packaged the act of infidelity in relationships as a "sweet experience", promoted incorrect views on love and marriage and violated good social customs.
In October 2026, the Market Regulation Bureau of Putuo District, Shanghai, imposed an administrative penalty of a fine of 800,000 yuan on the party concerned in accordance with the relevant provisions of the Advertising Law of the People's Republic of China. (Jiemian News)
AI Frontier
Zhang Yiming Speaks Again About ByteDance's AI Business: Catching Up With OpenAI and Anthropic "No Earlier Than 2029 or 2030"
On November 12, multiple informed sources revealed that Zhang Yiming, founder of ByteDance, recently talked about the AI business in another internal sharing session. It is learned that at a recent all-staff meeting for the AI team, Zhang Yiming stated that ByteDance is capable of competing with OpenAI and Anthropic, but it will take "no earlier than 2029 or 2030" to truly catch up with the cutting-edge technology. ByteDance's large language models are positioned to benchmark against the world's first-tier camp. Zhang Yiming frankly admitted that compared with top overseas AI companies, the scale of the pre-training dataset for ByteDance's Seed series models is still insufficient, which is the most critical issue that ByteDance's AI business needs to focus on at present. (The Paper)
Anthropic: AI is Expected to Conquer Intractable Diseases Such as Cancer Within 10 Years
Dario Amodei, CEO of Anthropic, predicts that the advancement of artificial intelligence is expected to overcome intractable diseases including cancer and Alzheimer's disease within 10 years. He stated, "Cancer, Alzheimer's disease, heart disease and mental illnesses will all become relics of the past within 10 years." Recently, Anthropic has expanded its drug R&D business by acquiring a number of biotech start-ups. The company also revealed on its official blog last month that it has launched internal new drug R&D initiatives. (Sina Finance)
Baidu Launches the large model trading platform TokenHub, with daily average called tokens exceeding 700 billion
36Kr learned that at the opening ceremony of Baidu World 2026, Robin Li, founder of Baidu, stated that large models are iterating at an extremely fast speed. In the first 9 months of this year, more than one new model was released almost every day. Meanwhile, the demand for model calls has also exploded, spawning a number of token transfer stations. To this end, Baidu has launched the large model trading platform TokenHub. He pointed out that TokenHub is an exchange for large models, which aims to gather high-quality models and model providers, so that enterprises and even individual users can easily find, purchase and use trustworthy model tokens. Since TokenHub went online one month ago, the number of settled supply resources has exceeded 100, the daily average number of calls has exceeded 50 million, and the daily average number of called tokens has surpassed 700 billion.
US Tech Oversight Project Calls on Democrats to Tighten Tech Regulation, Roll Out New Rules for AI and Data Centers
The US Tech Oversight Project has provided an action blueprint for Democrats in the new Congress, and the organization refers to this midterm election as "the first-ever AI and tech accountability election". A memo shows that this tech oversight body calls on Democrats to keep exerting pressure on large tech enterprises and roll out legislation related to social media, artificial intelligence and data centers. Sacha Haworth, Founder and CEO of the Tech Oversight Project, stated in the memo on Wednesday: "The last thing Democrats should do at the moment is to return to the old laissez-faire business-as-usual approach for large tech enterprises." (Sina Finance)
Big Companies / Major Events
Ministry of Commerce: China and the US are maintaining close communication on issues including tariff reduction, trade and investment
He Yadong, spokesperson of the Ministry of Commerce, said at the regular press conference of the Ministry of Commerce held on November 12 that the "30 billion to 30 billion" reciprocal tariff reduction framework arrangement is conducive to stabilizing and expanding China-US bilateral trade, and the business communities of both China and the United States have high expectations for this. At present, the two sides are maintaining close communication on the implementation of this arrangement. It is hoped that the US side will work together with the Chinese side to promote the implementation of this arrangement and deliver results as soon as possible, so as to create more favorable conditions for agricultural trade between the two countries. Regarding economic and trade consultations, China and the United States are maintaining close communication on issues of mutual concern in trade, investment and other fields, and relevant progress will be announced in due course. (Xinhua News Agency)
The three major U.S. stock indexes closed lower collectively, with Nvidia down more than 4%
36Kr learned that at the close of trading on November 12, the three major U.S. stock indexes fell collectively, with the Nasdaq down 0.39%, the Dow down 0.36% and the S&P 500 Index down 0.35%. Large technology stocks posted mixed performances: Nvidia fell by more than 4%, with its market value evaporating by 182 billion U.S. dollars; SK Hynix fell by more than 3%, Netflix and Intel fell by more than 2%, while Apple and Meta saw slight declines. Broadcom and AMD, competitors of Nvidia's GPUs, rose by more than 5%, Google and Tesla rose by more than 1%, and Microsoft and Amazon saw slight increases. Most popular Chinese concept stocks declined: iQiyi and Alibaba fell by more than 7%, NIO fell by more than 5%, XPeng Group, Li Auto and Bilibili fell by more than 3%, and Baidu and Weibo fell by more than 2%.
Leadership reshuffle occurs at the parent company of internet-famous yogurt brand Blueglass
The Tianyancha App shows that recently, Beijing Yuehuo Catering Management Co., Ltd., the affiliated entity of the internet-famous yogurt brand Blueglass, has undergone industrial and commercial registration changes. Gu Yong stepped down from the posts of legal representative and chairman, and Gu Chengxuan took over these positions. The company was founded in May 2012 with a registered capital of about 15.1 million RMB. Its business scope covers catering management, hotel management, enterprise management consultation and other related services, and it is jointly held by Gu Yong, Joy Yogurt Limited, Beijing Yueyueyue Information Consulting Partnership (Limited Partnership) and other shareholders. (Jiemian News)
Anthropic IPO subscription demand is approximately 6 times the offering size, with a maximum planned fundraising of 64.4 billion USD
According to reports on November 13, the subscription demand for the initial public offering (IPO) of artificial intelligence company Anthropic is around 6 times the number of shares available for subscription. Per the documents submitted by the company, Anthropic and its co-founders plan to raise up to 64.4 billion USD via the IPO, and raise 26 billion USD through the concurrent private placement, with a maximum total of 90.4 billion USD for the two fundraising activities. The company targets a fully diluted valuation of approximately 1.4 trillion USD. (Jiemian News)
Hong Kong Exchanges and Clearing: RMB-denominated derivative warrants linked to the RMB Money Market Fund (82800.HK) were listed on November 12
36Kr learned that Hong Kong Exchanges and Clearing issued a statement noting that a derivative warrant denominated in RMB and linked to the RMB money market fund was listed on November 12. This marks the re-appearance of RMB derivative warrants in the Hong Kong market after an interval of around ten years, bringing more RMB product choices for investors. This warrant is currently the only RMB-denominated derivative warrant in the Hong Kong market.
TFC Communication: First repurchase of 100,000 shares on November 12, with transaction prices ranging from RMB 140.56 per share to RMB 150 per share
36Kr learned from the announcement of TFC Communication that on November 12, 2026, the company completed its first share repurchase of 100,000 shares through the dedicated securities account for share repurchase via centralized bidding trading, accounting for 0.0092% of the company's total share capital. The highest transaction price is RMB 150 per share, the lowest transaction price is RMB 140.56 per share, and the total transaction amount is RMB 14.5434 million. According to the previous plan, the company intends to repurchase shares with its own funds, the total repurchase amount shall be no less than RMB 100 million and no more than RMB 150 million, the repurchase price shall not exceed RMB 350 per share, and the repurchased shares will be used for cancellation to reduce the registered capital.
The three major A-share indices closed lower collectively, with over 4,600 stocks in the entire market posting losses
36Kr learned that the three major A-share indices closed down across the board. The Shanghai Composite Index fell 0.67%, the Shenzhen Component Index dropped 1.68%, and the ChiNext Index declined 2.44%. The physical AI and AI short drama sectors led the declines, with Huace Film & TV and Sunway New Material down more than 10%, and Unitree Robotics down over 8%. The food and beverage and banking sectors led the gains, with Grandbuy Co., Ltd. and Huangtai Wine Industry hitting the daily 10% price limit, and Jinzhongzi Liquor up more than 6%. The semiconductor sector strengthened, with Enflame Technology and Centec Communications up over 10%, and Muxi Co., Ltd., Moore Threads and Cambricon up more than 8%. More individual stocks fell than rose, with over 4,600 stocks in the whole market in the green.
The People's Bank of China conducted a 384 billion yuan overnight reverse repo operation on November 12, with the operation rate at 1.25%
36Kr learned that the People's Bank of China carried out a 384 billion yuan overnight reverse repo operation on November 12, with the operation rate of 1.25%.
The Federal Reserve's 2027 interest rate meeting arrangement is released, and the regular October interest rate decision will be adjusted to a monetary policy discussion session
On November 13, the Federal Reserve announced on Thursday the revised tentative meeting schedule for the Federal Open Market Committee (FOMC) in 2027. Eight meetings are planned for the whole year, to be held on January 26-27, March 16-17, April 27-28, June 8-9, July 27-28, September 14-15, October 26-27 and November 16-17 respectively. The meeting on October 26-27 will be dedicated to discussions on broad monetary policy strategic issues, and no interest rate decision will be released on the second day as per usual practice. The first meeting of 2028 is tentatively scheduled to take place on January 25-26. (Jin10 Data App)
The probability that the Federal Reserve will raise interest rates by 50 basis points in December is 15.3%
According to the CME "FedWatch": the probability that the Federal Reserve will raise interest rates by 25 basis points in December is 84.7%, and the probability of a 50-basis-point rate hike is 15.3%. By next January, the probability of the Federal Reserve's cumulative interest rate hike reaching 25 basis points is 24.4%, the probability of a cumulative 50-basis-point rate hike is 64.7%, and the probability of a cumulative 75-basis-point rate hike is 10.9%. (Financial Associated Press)
Insiders: Du Xiaoman Payment has obtained the name change approval from the People's Bank of China, and "Manyi Payment" is adopted as the reuse of existing trademarks
According to the news on November 12, based on the public notice on approval of major change matters of non-bank payment institutions issued by the Beijing Branch of the People's Bank of China, Beijing Du Xiaoman Payment Technology Co., Ltd. has been approved to change its company name to Beijing Manyi Payment Co., Ltd., change the supervisor to Liu Hui, and change the person in charge of finance to Li Zhu. In this regard, an insider revealed that "Manyi" is not a brand new name, the relevant trademark has completed registration before, this change belongs to the reuse of existing trademarks rather than temporary new setup. It has previously appeared in the small loan companies and credit products related to Du Xiaoman. (Sina Tech)
Vice President of ChangXin Memory Technologies: Memory demand from the server market accounts for over 50%
On November 12, at the 2026 IC China Industry Conference, Luo Xiaodong, Vice President of ChangXin Memory Technologies, stated that the memory demand has entered a "stratified era" with differentiated demand across different market segments. At present, the demand from the server market accounts for more than 50%, and the demand for high-end storage and high-performance chips in the server market is rising. The storage capacity per vehicle in the automotive market is also increasing. It is expected that by 2030, the compound annual growth rate of demand for automotive storage and automotive-grade chips will reach around 30%. The industry needs to break away from the traditional rigid mindset that only focuses on the capacity and speed of storage. According to current memory demand, memory can be divided into five core dimensions: capacity, bandwidth, write rate, access granularity and latency. (Yicai)
Progress has been made in the merger negotiations between SpaceX and Tesla, and the deal may be announced as early as December
According to people familiar with the matter, the merger negotiations between SpaceX, which is under Elon Musk's portfolio, and Tesla are making steady progress. The two parties are likely to announce the transaction as early as December this year, which is expected to set a new record for the scale of global corporate mergers and acquisitions. However, the announcement time of the deal may also be postponed to the early stage of 2027. (Sina Finance)
Japan Plans to Impose Penalty Provisions on AI Enterprises Over Security Risks
People familiar with the matter revealed on Wednesday that the Japanese government is considering requiring artificial intelligence-related enterprises to implement security measures and set penalties for violations, so as to address various risks brought by advanced AI. The proposal was put forward at a closed-door working group meeting on the AI legal system. Currently, the market is increasingly worried that advanced AI models will exhibit unpredictable behaviors; a number of high-profile data leakage and unauthorized access incidents have occurred one after another recently, and the outside world suspects they are related to AI misuse. (Sina Finance)
Citi Continuously Cuts NVIDIA's Target Price
Citi lowered NVIDIA's target price from $285 to $225. Previously, Citi had cut NVIDIA's target price from $315 to $285 on November 10. (CLS)
Great Eastern (6 consecutive daily limit-ups in 8 trading days): The current stock price is severely disconnected from the company's operating performance and industry fundamentals, exposing investors to risks of overheated market sentiment and irrational hype
36Kr has learned that Great Eastern has issued a stock trading risk warning announcement, stating that during the 8 trading days from November 3, 2026 to November 12, 2026, the company's stock has hit the daily upward limit for 6 trading days, with a cumulative increase of 81.77% in its share price over the period, and has triggered abnormal upward movement alerts twice. The company faces performance decline risks, and only recorded meager profits in the first three quarters. No major changes have taken place in the company's main business. The continuous short-term rise in share price has made the current stock price severely deviate from the company's operating performance and industry conditions, bringing risks of overheated market sentiment, irrational speculation, and sharp drop at any time. Investors are kindly requested to make rational decisions and invest prudently.
Sources Say SK Hynix's HBM4 Yield Has Exceeded 70%
According to reports, the yield of SK Hynix's HBM4 has recently broken through 70%. However, SK Hynix has not officially announced specific yield data yet. The industry attaches great importance to the fact that the yield of HBM4 has exceeded 70%. Yield refers to the ratio of the number of qualified products to the total output; under the same calculation standard, the yield increase from 60% to 70% means that with the same production input, the output of qualified products increases by about 16.7%. (CLS)
National Development and Reform Commission: Starting from 24:00 on November 12, the prices of gasoline and diesel will be cut by 645 yuan and 625 yuan per ton respectively
36Kr learned that according to the notice from the National Development and Reform Commission, since the domestic refined oil price adjustment on October 29, the crude oil price in the international market has fluctuated and declined, and the average price in the 10 working days before this price adjustment is lower than the average price in the 10 working days before the last price adjustment. In light of the changes in oil prices in the international market, starting from 24:00 on November 12, the prices of domestic gasoline and diesel (standard products) will be lowered by 645 yuan and 625 yuan per ton respectively.
Google Partners with Samsung Electronics and Other Parties to Launch AI Smart Glasses
Google announced on November 12 that it has partnered with Gentle Monster, Warby Parker and Samsung Electronics to launch a brand-new smart glasses series equipped with Gemini technology, which is now officially open for pre-order. (Jiemian News)
SpaceX is developing AI chip racks to reduce its reliance on supporting components from NVIDIA
According to SemiAnalysis, SpaceX is developing Kessel, a custom version of the Vera Rubin NVL72 rack that replaces the original NVLink cable boxes with a passive PCB midplane. This solution retains Oberon's 72 GPU packages, 18 computing trays and 9 switch trays, but arranges these trays back-to-back around the midplane. SpaceX plans to purchase chip packages directly from NVIDIA and source the rest of the components on its own, bypassing NVIDIA's L6 computing board. This will give SpaceX greater autonomy in supplier selection and component procurement. (Sina Finance)
Renowned tech analyst Ives: Musk needs to "extend an olive branch" to Texas Democrats
Renowned technology analyst Dan Ives said that after the Democrats won the midterm elections, Elon Musk must seek political compromises with Texas state officials to safeguard SpaceX's ambitions in the field of artificial intelligence data centers. After Democrat Gina Hinojosa won the Texas gubernatorial election, scrutiny on the construction of new data centers has increased significantly. She advocates suspending the approval of relevant projects before establishing stronger protection measures for electricity, water resources and communities; however, she also stated that she is willing to cooperate with Musk's companies. (Sina Finance)
OpenAI is reportedly raising $15 billion at a $1.25 trillion valuation
According to reports, OpenAI raised $15 billion at a valuation of $1.25 trillion. (Jiemian News)
United Airlines Bans AI Agents Including Muse and Instinct From Booking Flights
Following similar bans introduced by banks and retailers out of privacy concerns, United Airlines has announced that it will prohibit all types of AI agents and AI assistants from booking its flights. This ban applies not only to booking behaviors initiated directly on the United Airlines App and official website, but also to bookings completed through travel agencies and travel aggregation platforms. The airline states that it is updating policies related to ticket booking, ticketing and distribution, and meanwhile updating the customer help pages to assist users in protecting their personal information. (Sina Finance)
Elon Musk Responds to Anthropic's Possible Non-Renewal of Computing Power Lease: Happy to Take It Back
In response to the news that Anthropic may stop leasing computing power from SpaceX after mid-2027, Elon Musk, CEO of SpaceX, responded that the company is willing to take back the relevant computing power. However, he believes that the actual situation may be the opposite. (CLS)
IPO in Progress
Tuojing Technology: the matter of issuing shares to purchase assets and raising supporting funds has been reviewed and approved by the Shanghai Stock Exchange
36Kr learned from the announcement of Tuojing Technology that the company plans to acquire 82.97% of the shares of Wuxi Shangji Semiconductor Technology Co., Ltd., 100% equity of Shanghai Tainawei Enterprise Management Co., Ltd. and 100% equity of Wuxi Kuanhang Enterprise Management Co., Ltd. by issuing shares and paying cash, and raise supporting funds at the same time. As of the disclosure date of the announcement, the Shanghai Stock Exchange has reviewed and approved this transaction. This transaction still needs to be approved for registration by the China Securities Regulatory Commission before implementation, and there is uncertainty about whether the approval for registration can be obtained and the final completion time of registration.
Loongson Technology: Private placement application approved by the Shanghai Stock Exchange
36Kr learned from the announcement of Loongson Technology that the company received the review opinion issued by the Shanghai Stock Exchange on November 11, 2026. The company's application for issuing A-shares to specific targets meets the requirements of issuance conditions, listing conditions and information disclosure. The Shanghai Stock Exchange will submit the application documents to the China Securities Regulatory Commission for registration after receiving them. This private placement can only be implemented after obtaining the registration approval decision from the China Securities Regulatory Commission, and there is still uncertainty about whether the registration approval can be finally obtained and the specific timeline.
Large Company Financial Reports
Hon Hai's net profit in the third quarter reached NT$77.52 billion, hitting a new all-time quarterly high
On November 12, Hon Hai announced that its net profit for the third quarter was NT$77.52 billion, hitting a new quarterly record, up 29% quarter-on-quarter and 34% year-on-year. Its net profit for the first three quarters reached NT$187.417 billion, hitting a new record for the same period, up 30% year-on-year. Hon Hai stated that the optimization of product mix and expansion of operating scale in the third quarter drove a substantial growth in core earnings. For the outlook of the fourth quarter and the full year, the company said it will deliver strong growth on both quarter-on-quarter and year-on-year bases, and the full-year guidance has been raised. Hon Hai predicts that the shipment volume of AI server racks will achieve high double-digit growth in 2027, with its market share further increased. (Jiemian News)
Cisco's revenue in the first fiscal quarter reaches 18.5 billion US dollars, up 24% year on year, and the full-year performance guidance is raised
Cisco announced on November 12 local time that in the first quarter of fiscal 2027 (ending on October 24, 2026), its revenue hit 18.517 billion US dollars, up 24% year on year. Calculated in accordance with U.S. Generally Accepted Accounting Principles (GAAP), its net profit was 4.552 billion US dollars, up 59% year on year, diluted earnings per share was 1.14 US dollars, up 58% year on year, and non-GAAP earnings per share was 1.40 US dollars, up 40% year on year. Among the figures, the revenue of the networking business increased by 43%, and the product revenue increased by 32%. Cisco raised its fiscal 2027 revenue guidance to the range of 74.8 billion to 75.8 billion US dollars, and raised its non-GAAP earnings per share guidance to the range of 5.47 to 5.53 US dollars. It also predicts that the revenue of its AI infrastructure business for large cloud service providers will reach 9 billion US dollars, more than doubling the total revenue of fiscal 2026. (Jiemian News)
SMIC: Net profit for the first three quarters hits 7.314 billion yuan, rising 91.6% year over year
36Kr has learned that according to SMIC's announcement, its operating revenue in the first three quarters of 2026 reached 60.618 billion yuan, up 22.4% year over year; net profit attributable to parent company shareholders stood at 7.314 billion yuan, up 91.6% year over year; net profit after deducting non-recurring gains and losses reached 5.633 billion yuan, up 77.3% year over year. The operating revenue in the third quarter alone reached 21.983 billion yuan, up 28.1% year over year; net profit attributable to parent company shareholders was 2.847 billion yuan, up 87.6% year over year; net profit after deducting non-recurring gains and losses was 2.639 billion yuan, up 107.3% year over year.
Investment and Financing
Robotics manufacturer Agile Robots raises $500 million in funding, with investors including SoftBank and NVIDIA
On November 12, the Germany-headquartered robotics manufacturer Agile Robots announced the completion of a $500 million financing round, bringing its total accumulated financing to nearly 2 billion US dollars, and the company's valuation reached 8.5 billion US dollars. This round of financing was led by SoftBank Group, with NVIDIA, Hitachi and other institutions participating in the investment. (Jiemian News)
"Xixuan Chuangzhi Completes 500 Million Yuan Angel Round Financing"
36Kr has learned that Xixuan Chuangzhi, an embodied intelligence edge-side chip enterprise jointly funded by UBTECH, MetaX and Fenglong Co., Ltd., has completed a 500 million yuan angel round of financing, with a post-money valuation of 4 billion yuan. This round of financing is jointly led by GGV Capital and Matrix Partners China, with many institutions participating in the follow-on investment. Xixuan Chuangzhi focuses on building independent and controllable embodied intelligence edge-side chips and computing platforms, and its first self-developed chip is positioned as an "integrated cerebrum-cerebellum" SoC for robots. The company plans to provide development and verification platforms to industrial partners in 2027 for adaptation and testing, and launch its first SoC product and supporting overall embodied intelligent solutions in 2028.
"Weitai Robotics" completes hundreds of millions of yuan in Series A financing
36Kr has learned that Weitai Robotics, a developer of visual-tactile sensors, has recently completed a Series A financing of hundreds of millions of yuan, which is jointly led by CRRC Capital and Yongxin Ark, with institutions including Gingko Valley Capital, Kapok Fund, Huacang Capital and Luxin Venture Capital participating in the investment.
AI data center startup Torus has completed a $500 million financing round, launching modular data centers integrated with energy storage systems
On November 11, U.S. energy storage startup Torus announced the completion of a $500 million Series C financing led by Magnetar, with participation from institutions including Iconiq Capital, Origin Ventures and Trinity Capital. The proceeds of this round of financing will be used to produce the new modular AI data center product named Foundry, which integrates the battery energy storage system and AI computing equipment into a container-sized module. Hydra Host, an AI infrastructure company, is one of its customers. (Sina Finance)
Compiled by | Geometric Fish