Krypton Evening News | Reports suggest that PayPay, a payment app under SoftBank, may go public in the US as early as December, with a valuation potentially exceeding $20 billion; NVIDIA's AI supercomputer DGX Spark™ is officially delivered; The world's first collaborative center for fusion energy research and training is established in Chengdu.
Large Companies:
Qixian Xiaochu under JD.com Enters Meituan and Taobao Flash Purchase Platforms
Recently, Qixian Xiaochu under JD.com has been launched on platforms such as Meituan Takeaway and Taobao Flash Purchase. It is understood that Qixian Xiaochu is positioned as a joint - venture high - quality catering production platform. JD.com plans to build 10,000 Qixian Xiaochu stores across the country in the next three years. (Jiemian)
36Kr learned that on October 14, the Tencent Qingyun Scholarship was fully launched. The project focuses on basic research and application innovation in the field of artificial intelligence. It is targeted at master's or doctoral students studying in institutions in the Chinese mainland, Hong Kong, Macao, and Taiwan regions with Chinese nationality. It is hoped that applicants come from computer science, artificial intelligence, and their interdisciplinary fields, with excellent research capabilities and profound academic attainments, and have a forward - looking research vision. In the first phase of the project, it is expected to select 15 winners, and each winner will receive cash and computing power resources worth a total of 5 million yuan.
SmartEye and Kylinsecu Sign a Strategic Cooperation Agreement
36Kr learned that SmartEye and Kylinsecu have officially signed a strategic cooperation agreement. The two parties will establish a long - term strategic partnership, aiming to create a joint solution of "AI + operating system" and focus on key fields such as medical health, medical insurance, human resources, and social security.
Alibaba.com: AI Boosts a 30% Increase in Order Volume during the September Foreign Trade Peak Season
36Kr learned that recently, Alibaba.com has "fully AI - enabled" its e - commerce search for overseas buyers. Boosted by AI, the order volume of Alibaba.com increased by 30% during the foreign trade peak season in September. At the same time, the latest data shows that 140,000 sellers around the world use Alibaba.com's AI Agent for foreign trade business every day.
According to sources, as PayPay, a payment app under SoftBank Group, prepares for its initial public offering (IPO) in the United States as early as December, investors expect the company's valuation to possibly exceed 3 trillion yen (about $20 billion). The sources said that investors regard 2 trillion yen as the benchmark, but expect the valuation to possibly exceed 3 trillion yen. (Sina Finance)
DFCV and CATL Establish a New Round of Five - Year Long - Term Strategic Cooperation
36Kr learned that on October 13, DFCV and CATL held a strategic cooperation signing ceremony in Ningde, Fujian. The two parties officially established a new round of five - year long - term strategic cooperation and will cooperate in the field of commercial vehicle electrification in aspects such as the development and application of cutting - edge technologies, overseas market expansion, after - market development, and the co - construction of the industry ecosystem.
BOHAI MOTOR: Major Asset Reorganization Approved by Beijing SASAC
36Kr learned that BOHAI MOTOR announced that its indirect controlling shareholder, Beijing Automotive Group Co., Ltd., received the "Approval on Relevant Matters of the Major Asset Reorganization of BOHAI MOTOR SYSTEMS CO., LTD." issued by the Beijing SASAC, which in principle agrees to the company's overall plan to purchase part of the assets of Hainachuan by issuing shares and paying cash and to raise supporting funds. This transaction still needs to be reviewed by the company's general meeting of shareholders and approved by the relevant regulatory authorities before it can be officially implemented, and there is still uncertainty about whether it can be implemented.
Meet Your Noodles' Application for Listing on the Hong Kong Stock Exchange Gets Recorded by the CSRC
36Kr learned that the International Cooperation Department of the China Securities Regulatory Commission issued a notice on the record - filing of the overseas issuance and listing of Guangzhou Meet Your Noodles Catering Co., Ltd. and the "full circulation" of its unlisted domestic shares. The company plans to issue no more than 235,108,000 overseas - listed common shares and list them on the Hong Kong Stock Exchange. 11 shareholders of the company plan to convert a total of 613,324,800 unlisted domestic shares into overseas - listed shares and list them for trading on the Hong Kong Stock Exchange.
New Products:
NVIDIA's AI Supercomputer DGX Spark™ Officially Delivered
NVIDIA announced that the "world's smallest to date" AI supercomputer, NVIDIA DGX Spark™, has been officially delivered. As a new - generation computer, DGX Spark offers 1 PFLOP of AI performance and 128GB of unified memory, enabling developers to run AI model inferences of up to 200 billion parameters locally and fine - tune models with 70 billion parameters. In addition, developers can also create AI agents locally and run advanced software stacks through DGX Spark. (Jiemian)
Ant Releases and Open - Sources the Trillion - Parameter Thinking Model Ring - 1T
36Kr learned that on October 14, Ant Group officially launched the trillion - parameter thinking model Ring - 1T and fully open - sourced the model weights and training recipes. Based on the preview version Ring - 1T - preview open - sourced on September 30, Ring - 1T continuously expands large - scale verifiable reward - based reinforcement learning (RLVR) training, further stimulating the natural language reasoning ability of the trillion - scale foundation, and improves the general ability of the model through RLHF training, showing a more balanced performance on various task leaderboards.
Investment and Financing:
Google to Invest $9 Billion in South Carolina, US by 2027
On October 13 local time, Google announced that it will invest $9 billion in South Carolina, the United States, by 2027. This fund will be used to expand Google's data center campus in Berkeley County and support the continued construction of two new data centers in Dorchester County. (Jiemian)
Singaporean Enterprises Promise to Invest Over S$5.5 Billion in Johor, Malaysia
On October 14, Singapore's Deputy Prime Minister and Minister for Trade and Industry, Heng Swee Keat, announced the latest investment data of Singaporean enterprises. He said that since January last year, the Johor - Singapore Economic Zone has attracted Singaporean enterprises to promise to invest more than S$5.5 billion in Johor. So far, many Singaporean multinational companies and small and medium - sized enterprises have carried out business in Johor, covering fields such as logistics and transportation, medical device manufacturing, agricultural technology, and food raw materials. The Johor - Singapore Economic Zone is located in Johor, Malaysia, adjacent to Singapore, and consists of 9 flagship areas, focusing on attracting investment in 11 fields such as manufacturing, high - tech industries, green energy, data centers, and innovation technology. (Jiemian)
Google Plans to Invest $15 Billion in India to Build an AI Data Center
Google, a subsidiary of Alphabet, plans to invest approximately $15 billion in the next five years to build an artificial intelligence (AI) infrastructure center in southern India, making its largest bet on this rapidly developing country. Google has joined other US tech giants in investing in India, which is one of the biggest beneficiaries of the global AI boom. (Sina Finance)
Other Noteworthy News:
The World's First Fusion Energy Research and Training Collaboration Center Lands in Chengdu
On October 14, the 2nd Ministerial Meeting of the 2025 World Fusion Energy Group and the 30th IAEA Fusion Energy Conference opened in Chengdu. At the scene, the IAEA Fusion Technology Collaboration Center (referred to as the "Collaboration Center") was officially awarded in Chengdu, marking that the world's first IAEA collaboration center focusing on fusion energy research and training has landed in China. China's international status and influence in the field of fusion energy have been significantly enhanced, and it will inject key impetus into Chengdu's construction of a global fusion energy innovation high - ground and the promotion of the commercialization process of controlled nuclear fusion. (CCTV News)
China's Automobile Production and Sales Both Exceed 24 Million Units in the First Three Quarters
Learned from the China Association of Automobile Manufacturers, in the first nine months of this year, many economic indicators of China's automobile industry achieved double - digit growth. The latest data shows that from January to September, the production and sales of automobiles reached 24.333 million units and 24.363 million units respectively, with year - on - year increases of 13.3% and 12.9% respectively. Among them, the production and sales of new energy vehicles both exceeded 11 million units, with year - on - year increases of over 30%. The sales of new energy vehicles accounted for 46.1% of the total sales of new vehicles. In terms of exports, from January to September, the automobile exports reached 4.95 million units, with a year - on - year increase of 14.8%. Among them, the export of new energy vehicles was remarkable, reaching 1.758 million units, with a year - on - year increase of 89.4%. (CCTV News)
US House Speaker Warns: This Government Shutdown May Be the Longest in History
The shutdown of the US federal government entered its 13th day on the 13th. Treasury Secretary Besent said that this round of shutdown has begun to affect the country's economy. US Republican House Speaker Mike Johnson predicted on the same day that the duration of this shutdown may become the "longest in history." Besent said in a program on Fox Business Channel on the 13th that "the situation is getting more and more serious." The government shutdown has begun to affect the real economy and people's lives. He said that to ensure the payment of military salaries, the federal government has had to suspend the payment of salaries to other federal employees and employees of service agencies, including those in museums under the Smithsonian Institution and the National Zoo. (Xinhua News Agency)