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Generative AI firm SiliconFlow has raised a nine-figure RMB sum in a funding round led by Alibaba Cloud, with follow-on investment from Sinovation Ven…

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Generative <a href="/industry/ai">AI</a> firm SiliconFlow has raised a nine-figure RMB sum in a funding round led by <a href="/company/alibaba">Alibaba Cloud</a>, with follow-on investment from Sinovation Ventures, Puhua Capital, China Growth Capital, MiraclePlus, Glory Ventures, and continued backing from <a href="/company/meituan">Meituan</a>. China Renaissance acted as financial adviser. Proceeds will go toward hiring, R&amp;D, and global expansion.

<a href="/company/shopee">Shopee</a> has reportedly launched a June 2025 “GMV Max” incentive for returning sellers across ten markets, including Brazil and the Philippines. Sellers who meet ad spend thresholds will earn ad credits, with an additional 10% rebate for hitting GMV targets. The program runs through June 30, with signup closing on June 16. Rewards will be issued in mid-July.

French <a href="/industry/ai">AI</a> firm Mistral has launched Magistral, a reasoning model it says rivals <a href="/company/openai">OpenAI’s</a> o1 and <a href="/company/deepseek">DeepSeek’s</a> R1. Unveiled at the London Tech Week, the new model is reportedly designed for math, coding, and step-by-step logic in European languages.

<a href="/company/byd">BYD</a> is deepening its partnership with <a href="/company/alibaba">Alibaba Cloud</a> by embedding advanced <a href="/industry/ai">AI</a> tools into its vehicles. New cockpit features include voice-activated wallpapers, emotional chat support, and a "mobile agent" system that executes complex tasks by visually navigating third-party apps. The updates aim to streamline user commands into seamless in-car experiences.

<a href="/company/gac">GAC</a> has opened new showrooms across Chile and Bolivia, advancing its Latin America expansion. Each site features localized elements, from high-altitude systems in La Paz to starlit driving displays in La Serena and test platforms in Puerto Montt. These features aim to merge innovation with local needs as GAC targets presence in over 100 cities in the region by 2027.

China is turning to its RMB 10.9 trillion housing provident fund to boost the property market as banks tighten mortgage lending. The fund now backs RMB 8.1 trillion in home loans, with cities easing rules and cutting rates to expand access. While demand remains soft, the fund is filling a key financing gap.

<a href="/company/huawei">Huawei</a> founder and CEO Ren Zhengfei downplayed US tech restrictions, pointing to chip stacking, cluster computing, and open-source software as viable paths forward. In an interview, he urged long-term support for fundamental research, called for patience with theorists, and said China’s infrastructure and youth offer key advantages in <a href="/industry/ai">AI</a> development.

<a href="/company/shein">Shein</a> has denied reports that it plans to export India-made apparel through its partnership with Reliance, stating the collaboration is limited to brand licensing and local sales. The company said it is not involved in manufacturing or overseas shipments from India.

Natural rubber prices are sliding as <a href="/industry/ev">EV</a> maker <a href="/company/byd">BYD’s</a> sharp price cuts raise fears of a broader automotive sector price war and weakening tire demand. Rubber futures fell 4% on the Osaka Exchange to a four-month low. With tires accounting for 70% of rubber use, rising seasonal supply and softening US car sales may drive further declines.

US-China trade talks will continue in London for a second day as negotiators seek to ease tensions over tech exports and rare earth supplies. The US is weighing the removal of some export curbs if China lifts rare earth restrictions. Both sides called day one productive, though curbs on <a href="/company/nvidia">Nvidia’s</a> AI chips are expected to remain in place.

<a href="/company/openai">OpenAI</a> has upgraded ChatGPT’s voice mode with more natural speech, featuring refined intonation, cadence, and emotional expressiveness. It now also supports continuous translation. Available to all paid users, the update doesn’t fully resolve known issues such as hallucinated audio or pitch variation.

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