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Meta has acquired just under 3% of EssilorLuxottica in a deal valued at approximately EUR 3 billion, deepening its commitment to smart glasses. The mo…

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Meta has acquired just under 3% of EssilorLuxottica in a deal valued at approximately EUR 3 billion, deepening its commitment to smart glasses. The move strengthens Meta’s partnership with the Ray-Ban maker and signals broader ambitions to control hardware and distribution as wearable tech becomes central to its <a href="/industry/ai">AI</a> strategy.

<em>Wuchang: Fallen Feathers</em>, developed by Chengdu-based Leenzee and published by 505 Games, launches July 24 with preorders already open on Steam. Set in a war-torn, decaying world, the roleplaying game features nonlinear exploration, deadly enemies, and a blend of brutal weapons and magic.

<a href="/company/tesla">Tesla</a> is under growing financial pressure as falling sales, expiring <a href="/industry/ev">EV</a> tax credits, and the loss of emissions credit revenue threaten its profitability. CEO Elon Musk’s escalating political activity has further unsettled investors, while Tesla’s robotaxi rollout reportedly trails rivals like Waymo. Analysts warn the company may be nearing a tipping point.

Agibot plans to acquire a 63.62% stake in Shangwei New Materials for RMB 2.1 billion via share transfer and tender offer. If completed, CEO Deng Taihua will become the controlling shareholder, making Shangwei the first embodied <a href="/industry/ai">AI</a> company listed on China’s A-share market. The deal would combine Agibot’s <a href="/industry/robotics">robotics</a> tech with Shangwei’s manufacturing base to accelerate commercialization.

Romoss is facing a deepening crisis after recalling about 491,700 power banks. The company has suspended production, shut down online stores, and undergone multiple leadership changes. Employees have reported wage issues and absent management, while Shenzhen regulators have launched round-the-clock oversight to ensure refunds and trace defective products.

China averaged 5.5% economic growth over the first four years of its 14th five-year plan, said NDRC chief Zheng Shanjie, citing resilience despite the pandemic and trade friction. He projected a five-year GDP increase of over RMB 35 trillion, topping the 2024 output of China’s top three provinces and contributing about 30% to annual global growth.

Chinese firms are building dozens of <a href="/industry/ai">AI</a> data centers in Xinjiang and neighboring Qinghai, aiming to deploy more than 115,000 <a href="/company/nvidia">Nvidia</a> chips restricted by US export controls. Documents reviewed show no clear sourcing plans, but the scale signals China’s intent to expand AI capacity despite sanctions.

GAC Fiat Chrysler Automobiles (GAC FCA), the Jeep joint venture between <a href="/company/gac">GAC</a> and Stellantis, has filed for bankruptcy after failing to restructure. Once a breakout SUV brand in China, the venture saw steep sales declines and shareholder disputes before a Changsha court approved its liquidation request on July 8, formally ending the venture.

Inflation is slowing across Southeast Asia, with Thailand, Malaysia, and Singapore posting multiyear lows, raising concerns about weakening demand. Economists warn of mounting deflationary pressure driven by political instability, weak tourism, trade tariffs, and an influx of low-cost Chinese goods. Thailand is viewed as especially at risk.

Chinese agentic <a href="/industry/ai">AI</a> startup Manus, developed by Butterfly Effect, confirmed on July 8 it is adjusting business teams to improve operational efficiency, following reports of layoffs and staff relocation to its Singapore headquarters. The move follows its May funding round and HQ shift as the company refocuses on core operations.

Jeff Williams will step down as Apple’s COO later this year, handing the role to longtime colleague Sabih Khan in a planned transition. Khan, a nearly 30-year Apple veteran, leads the company’s global supply chain. Williams will continue overseeing Apple’s watch, health, and design initiatives until retiring at year’s end.

MiniMax, a Chinese company, develops large models and generative AI tools. It is known for the Talkie chatbot and Hailuo AI, a multimodal AI platform.

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MiniMax finds its “aha moment,” and a way to challenge the AI status quo

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A policy mandating 60-day payments offers limited relief amid implementation hurdles across the automotive supply chain.

For China’s auto suppliers, a 60-day pledge may still mean waiting months for payment

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With a focus on generalization and reliability, Galbot is building robots that skip the spectacle and get the job done.

Meta takes minority stake in EssilorLuxottica

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MiniMax finds its “aha moment,” and a way to challenge the AI status quo

For China’s auto suppliers, a 60-day pledge may still mean waiting months for payment

Galbot’s humanoid robots do the boring stuff, and that’s the point