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Surge AI is seeking up to USD 1 billion in its first funding round, targeting a valuation above USD 15 billion, according to sources. The profitable, …

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Surge AI is seeking up to USD 1 billion in its first funding round, targeting a valuation above USD 15 billion, according to sources. The profitable, bootstrapped firm generated over USD 1 billion in revenue in 2024 and is adding clients amid Scale AI’s customer losses following its partnership with Meta.

<a href="/company/temu">Temu</a> has updated its quality inspection rules to fine sellers who misreport product weight or volume by more than 50 grams or 10%. A base fine of RMB 10 per order applies, increasing by RMB 10 for every additional 50 grams. Return orders are also subject to penalties. Sellers are advised to review data to avoid fines or reduced platform visibility.

Pangdonglai reported RMB 11.7 billion in revenue for H1 2025, with supermarket sales accounting for over half. The group’s net profit estimate has risen to RMB 1.5 billion as of mid-June, well above the RMB 1 billion target set earlier this year.

Grammarly is acquiring startup Superhuman to expand its <a href="/industry/ai">AI</a>-powered workplace tools. Superhuman, last valued at USD 825 million with USD 35 million in revenue, will retain its brand and CEO Rahul Vohra. Grammarly plans to integrate AI agents into email workflows and expand into calendars, tasks, and collaboration.

Chinese sportswear brand Anta will open its first US store in Beverly Hills, expanding beyond third-party retailers and <a href="/industry/e-commerce">e-commerce</a>. The announcement came in a teaser featuring chief creative officer Kyrie Irving, who joined the brand in 2023 and launched the Kai 1 signature shoe in March.

Chinese <a href="/industry/ai">AI</a> firm <a href="/company/deepseek">DeepSeek</a> is expanding globally, with HSBC, Standard Chartered, and Saudi Aramco among those reportedly testing or deploying its models. The trend has drawn warnings from <a href="/company/openai">OpenAI</a> and US officials, who say China’s growing AI presence could erode Western influence and global standards.

Binance plans to keep its Singapore-based remote workforce despite new rules requiring offshore crypto firms to be licensed by June 30. The exchange, which lacks a local license, says most staff are in non-client roles such as compliance and tech, insulating them from regulatory impact.

Figma has filed to go public on the NYSE, following the collapse of its USD 20 billion sale to Adobe and a USD 1 billion breakup fee. The company reported USD 228 million in Q1 2025 revenue, USD 44.9 million in net income, and roughly 450,000 customers as of March 31.

China will launch virtual IDs for internet use on July 15, shifting user verification from tech firms to state-run systems. Citizens can voluntarily submit facial scans and personal data to access online services. Analysts say the move could reshape China’s AI development and digital economy.

<a href="/company/nio">Nio</a> delivered 24,925 vehicles in June 2025, up 17.5% YoY, contributing to 72,056 units in Q2, a 71.2% increase from Q1. H1 2025 deliveries rose 30.6% YoY to 114,150. Cumulative sales reached 785,714, including 725,248 from Nio, 52,623 from Onvo, and 7,843 from Firefly.

<a href="/company/huawei">Huawei</a> has open-sourced two Pangu <a href="/industry/ai">AI</a> models and related inference tools to expand its Ascend chip ecosystem and global reach. Analysts say the move reflects a hardware-first strategy similar to Google’s and could drive adoption in cost-sensitive markets despite ongoing US chip restrictions.

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Chinese telecom gear suppliers look to capture growing demand in the Global South.

Huawei and ZTE take AI to Belt and Road, shrugging off US sanctions

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Luckin Coffee provides app-based ordering, convenient pickup, and a broad beverage menu, reshaping China’s coffee consumption patterns.

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Five years after a financial scandal, China’s leading coffee chain is testing its footing in Starbucks’ home market.

Luckin Coffee tests the waters in the US with two New York stores

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Bonjour is building an agentic platform that turns tasks into instant transactions—fulfilled by humans today, and AI tomorrow.

Inside Bonjour, a Chinese startup creating the “Upwork of the agent era”

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Surge AI seeks USD 1 billion in first funding

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Huawei and ZTE take AI to Belt and Road, shrugging off US sanctions

Luckin Coffee tests the waters in the US with two New York stores

Inside Bonjour, a Chinese startup creating the “Upwork of the agent era”