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China will deepen reforms in 232 national development zones, which collectively generated RMB 16.9 trillion in GDP and attracted USD 27.2 billion in F…

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China will deepen reforms in 232 national development zones, which collectively generated RMB 16.9 trillion in GDP and attracted USD 27.2 billion in FDI in 2024. A new plan prioritizes foreign-led projects in semiconductors, biomedicine, and advanced manufacturing, aiming to strengthen global investor engagement and promote higher-quality market access.

<a href="/company/xpeng">Xpeng</a> has launched the Mona M03 Max in China, an <a href="/industry/ev">EV</a> aimed at bringing high-end AI features to the mass market. Priced around RMB 150,000, the model combines Xpeng’s Turing assisted driving system with its proprietary XGPT LLM and offers up to 620 kilometers of range.

Telegram announced a USD 300 million partnership to integrate xAI’s Grok chatbot across its platform, touting revenue sharing and AI-driven features. But Elon Musk denied on X that any deal had been signed, casting doubt on the agreement’s status and whether terms have been finalized.

Apple will rename all its operating systems by year, starting with iOS 26 in 2025, replacing version numbers to simplify branding across platforms. The change aims to reduce confusion for users and developers, and will be announced at WWDC on June 9 alongside new interfaces and features.

LVMH deputy CEO Stephane Bianchi warned of softening Chinese luxury demand, citing a recent decline in outbound travel and spending. Speaking to French lawmakers, he reported an 11% drop in the company’s Q1 revenue for the region including China, matching the full-year decline in 2024. Bianchi also noted rising interest in domestic brands among Chinese consumers.

<a href="/company/openai">OpenAI</a> may pursue an IPO under its new public benefit corporation structure, CFO Sarah Friar said, though timing depends on market conditions and internal readiness. Speaking at the Dublin Tech Summit, she pointed to the company’s capital needs, including plans for a ten-gigawatt data center, and stressed the importance of predictability and sustained growth.

AMD has acquired Silicon Valley-based Enosemi to bolster its photonics and co-packaged optics capabilities for advanced <a href="/industry/ai">AI</a> systems. The deal brings in a team with proven expertise in photonic integrated circuits and supports AMD’s strategy to deliver full-stack innovation across compute, networking, and system architecture.

Honor, the smart device spinoff from <a href="/company/huawei">Huawei</a>, is developing humanoid robots as part of a USD 10 billion push into <a href="/industry/ai">AI</a> and emerging tech. The move echoes efforts by Chinese peers like Xiaomi to diversify beyond smartphones and tap growing demand for <a href="/industry/robotics">robotics</a> in industrial and smart device ecosystems.

Jumia, a leading African <a href="/industry/e-commerce">e-commerce</a> platform, is expanding its China-based merchant network to counter rising competition from Temu and Shein, whose app-driven, cross-border models are gaining ground. With fewer resources, Jumia is banking on local delivery, pay-on-delivery, and user familiarity to stay competitive.

<a href="/company/huawei">Huawei</a> is backing Cornerstone Technologies, a Zhuhai-based startup aiming to become China’s end-to-end supplier of chipmaking chemicals. Founded in 2022 with state support, the company is developing photoresists, slurries, and pads to compete with global leaders like Shin-Etsu, JSR, and DuPont.

<a href="/company/luckin-coffee">Luckin Coffee</a> has launched Lucky, an AI-powered virtual assistant, in partnership with <a href="/company/bytedance">ByteDance's</a> Volcano Engine. Powered by Doubao and <a href="/company/deepseek">DeepSeek</a> LLMs, the mascot-based assistant is available via the Luckin app and WeChat, capable of handling voice orders, recalling preferences, and suggesting drinks.

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Nvidia’s data center revenue surged 73%, but new export restrictions triggered a USD 4.5 billion writedown.

Blackwell rollout lifts Nvidia in Q1, but China loss stings

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Ignored by investors and baffling to experts, the startup quietly built one of China’s bestselling smart gadgets: a guitar with no strings.

No strings attached: How LiberLive turned rejection into a runaway hit

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China to boost role of development zones

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Blackwell rollout lifts Nvidia in Q1, but China loss stings

Deals in brief: Temasek’s Xora invests in GridCare, Airwallex raises Series F funding, Antler backs three early-stage SEA startups, and more

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