Krypton Evening News | SpaceX, owned by Elon Musk, launches the largest IPO plan in history; The first comprehensive driver service map in China is launched; The General Administration of Customs releases "Several Measures for Customs Support in the Construction of the Guangdong-Hong Kong-Macao Greater Bay Area" in Guangdong.
Large Companies:
SpaceX Reportedly Plans to Achieve 10,000 Launches per Year within Five Years
According to the head of the U.S. Federal Aviation Administration (FAA) on Wednesday, SpaceX is putting forward an ambitious plan to achieve 10,000 launches per year within five years. However, the agency said that government officials need to see an improvement in reliability before approving such an expansion plan. In January this year, SpaceX also said that it plans to launch and form a constellation of one million satellites, which will orbit the Earth and use the sun to power artificial intelligence data centers. (Caixin)
On May 20, Cai Chongxin, Chairman of Alibaba Group, and Wu Yongming, Chief Executive Officer, jointly issued a letter to shareholders. The letter said that instant retail has become a core strategic pillar for the upgrade of the Taobao and Tmall platforms. "We see the strategic significance of instant retail in using AI to acquire new users, enhance user stickiness, meet diverse consumption needs, and improve transaction volume and commercialization levels."
36Kr learned that on May 21, the first offline experience store of Dongfang Zhenxuan officially opened. It is understood that during the trial operation period of the "May Day" holiday, the proportion of self - owned brands was about 40%, and after the official opening, it has increased to over 50%. In the future, Dongfang Zhenxuan will rely on New Oriental's teaching outlets across the country to open more offline experience stores in other cities.
36Kr learned that on May 21, the third - party institution ArtificialAnalysis released the latest global large - model list. Alibaba's newly released flagship model, Qwen3.7 - Max, scored 56.6 points. Its performance is close to that of the strongest models of GPT, Claude, and Gemini, ranking fifth globally and first among domestic models. It is understood that Qwen3.7 - Max will soon be launched on Alibaba Cloud's Bailing to provide API services.
AMD Announces Mass Production of Next - Generation EPYC Processor "Venice" Using TSMC's 2nm Process
Advanced Micro Devices (AMD) announced on May 21 that its next - generation AMD EPYC central processor codenamed "Venice" has officially started mass production. The chip uses TSMC's most advanced 2nm process technology and is the first 2nm product put into mass production in the high - performance computing (HPC) field in the industry. In addition, AMD also plans to extend its 2nm process for data center CPUs to its subsequent new product "Verano". (Jiemian)
As the last batch of Tesla Model S/X rolled off the production line at the Fremont factory in California, these two legendary models that started the global electrification wave have officially retired. The Model S/X production line here will be demolished and reconstructed within four months and transformed into a dedicated production line for Tesla's humanoid robots, with a planned annual production capacity of one million units; the second - generation production line being prepared at the Texas factory aims for a production capacity of tens of millions of units. (Sina Tech)
Investment and Financing:
SpaceX under Musk Launches the Largest - Scale IPO Plan in History
SpaceX officially announced its largest - scale initial public offering plan in history. This giant spanning the fields of artificial intelligence and space rockets has officially launched a major listing wave, which may reshape the pattern on Wall Street. On Wednesday evening, the company submitted the long - awaited prospectus to the U.S. securities regulatory agency. For the first time, investors got a glimpse of its financial situation, Musk's control over the company, and various potential risks. The amount of this fundraising and the proposed valuation have not been officially disclosed yet. According to previous media reports, this space enterprise plans to raise about $75 billion at a valuation of $1.75 trillion. (Sina Finance)
Abu Dhabi National Oil Company is Investing $150 Billion to Meet Global Energy Demand
The Abu Dhabi National Oil Company (ADNOC) is investing $150 billion to meet global energy demand and promote domestic growth in the fields of artificial intelligence, advanced manufacturing, logistics, and industry. (Caixin)
Today's Views:
U.S. Department of Health: Excessive Screen Time for Minors has Become a Public Health Problem
The U.S. Department of Health and Human Services released a report on May 20, saying that the excessive use of electronic products by children and adolescents, including endlessly scrolling through social media, constantly sending text messages, and playing video games for long periods, has become a public health problem. (Xinhua)
He Yadong, the spokesperson of the Ministry of Commerce, said at a regular press conference on May 21 when answering questions related to China's purchase of U.S. agricultural products that agricultural product trade is an important part of China - U.S. economic and trade cooperation. After recent economic and trade consultations, China and the U.S. have reached a series of positive consensuses on promoting the resolution of some non - tariff barriers and market access issues for agricultural products between the two sides, and in principle agreed to include relevant products in the framework arrangement for reciprocal tariff reduction. At the same time, they also set a guiding goal for expanding two - way agricultural product trade. The two sides should create favorable conditions for two - way agricultural product trade and promote the restoration and continuous expansion of trade cooperation in the field of agricultural products. (Xinhua)
Other Noteworthy News:
The First National Comprehensive Driver Service Map is Launched
36Kr learned that on May 21, institutions such as the Urban Transport Branch of the China Communications and Transportation Association released the first national comprehensive driver service map in Beijing. This map integrates more than 2,100 driver rest stations across the country, as well as charging and refueling facilities and government information services. In the future, it will expand more services for new employment groups such as taxi drivers and online car - hailing drivers.
36Kr learned that the General Administration of Customs held a press conference on the "Several Measures to Support the Construction of the Guangdong - Hong Kong - Macao Greater Bay Area" in Guangzhou. Zhang Geping, the director of the Guangdong Branch of the General Administration of Customs, introduced that based on its own responsibilities and the actual situation of the Greater Bay Area, after in - depth research and extensive solicitation of opinions and suggestions, the customs has formulated the "Several Measures", and launched 20 specific measures from five aspects: integrated development, scientific and technological innovation high - ground, new business forms and models, serving the "dual - circulation" pattern, and major cooperation platforms, to fully support the construction of a first - class bay area and a world - class city cluster full of vitality and international competitiveness.
According to Bloomberg, international capital continues to flow out of the Indian stock market, further increasing the depreciation pressure on the rupee. Data shows that since the beginning of this year, global investors have withdrawn about $23 billion from the Indian stock market in total. According to Reuters, this figure exceeds the total outflow of foreign capital from the Indian stock market last year. (CCTV Finance)
South Korea Announces its Vision of Becoming a Global Artificial Intelligence Hub
The South Korean government announced on Thursday its vision of building a global artificial intelligence hub in the country, aiming to pool the artificial intelligence (AI) capabilities of global organizations to address challenges such as disease control and climate change. The South Korean Ministry of Finance and Economy said that the government announced a plan to establish a global artificial intelligence center, aiming to cooperate with nine global organizations and five multilateral development banks to promote cross - border cooperation in the field of artificial intelligence. (Sina Finance)
The Federal Reserve May Tighten Monetary Policy due to High Inflation
The minutes of the Federal Reserve's April monetary policy meeting released on the 20th showed that if U.S. inflation continues to be higher than the target level, the Federal Reserve may take some measures to tighten monetary policy. (Xinhua)