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The game has generated nearly RMB 40 million in revenue since launch but has yet to turn a profit.

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Alibaba, China’s e-commerce giant, operates online retail marketplaces, cloud computing services, and digital payment networks across Asia and beyond.

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Alibaba’s Jiang Fan expects Taobao Shangou to reach RMB 1 trillion in transaction volume within three years.

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Amazon has confirmed it will cut about 14,000 corporate positions, the largest in its history, as it streamlines operations and ramps up investment in <a href="/industry/ai">AI</a>. The layoffs will span multiple divisions, including its cloud and devices units.

BabyBus, a Chinese children’s content developer, apologized after users reported that its nursery rhyme app displayed vulgar third-party ads. The company said the ads came from external partners and have since been removed, with stricter review processes and new safeguards introduced to prevent recurrence. BabyBus was previously cited for app compliance issues in 2023.

Chinese <a href="/industry/e-commerce">e-commerce</a> platform <a href="/company/taobao">Taobao</a> has launched its first global Singles’ Day sale across 20 countries and regions in five languages. More than one million merchants are participating, rolling out 2.1 million new products, including hundreds of global exclusives, with over 400 million items offering free shipping.

<a href="/company/openai">OpenAI</a> and Microsoft have restructured their partnership, turning the ChatGPT maker into a public benefit corporation and clearing a path to an IPO. The deal boosts CEO Sam Altman’s control and fundraising ability for USD 1.4 trillion in data center projects, while Microsoft retains a 27% stake valued at about USD 135 billion.

Wavemaker Impact has spun off from venture builder and investor Wavemaker Partners to form 100x100 Group, a Singapore-based platform that builds climate ventures across the Asia Pacific. The team, which has applied for a venture fund licence, aims to scale startups capable of cutting 100 million tons of carbon emissions and generating USD 100 million in annual revenue.

<a href="/company/miniso">Miniso</a> has opened its first Miniso Land in Thailand at Bangkok’s Siam Square, featuring more than 8,300 products and over 80 beloved characters from Disney, Sanrio, and others. The three-story flagship store also marks the overseas debut of the new Zootopia-themed collection, designed to offer a fun, interactive shopping experience.

Chinese scientists led 45% of joint studies with US researchers in 2023, up from 30% in 2010, according to a PNAS study. Using <a href="/industry/ai">AI</a> to analyze authorship data, the study projects that China could match US scientific leadership by 2027, fueled by investment in advanced technologies and deeper ties with Belt and Road nations.

RoboTechnik Intelligent Technology has filed a draft prospectus for a Hong Kong listing. The company makes intelligent manufacturing systems for silicon photonics and solar cells, positioning itself where <a href="/industry/ai">AI</a> infrastructure meets renewable energy technology.

<a href="/company/nvidia">Nvidia</a> CEO Jensen Huang plans to announce new <a href="/industry/ai">AI</a> chip supply deals with South Korean companies including Samsung, Hyundai Motor, and SK Group during his upcoming visit. The partnerships aim to bolster Nvidia’s foothold in a key market amid China restrictions and support South Korea’s drive to expand its AI infrastructure.

<a href="/company/nvidia">Nvidia</a> and Nokia announced a partnership to develop <a href="/industry/ai">AI</a>-native RAN solutions for next-generation networks, with Nvidia investing USD 1 billion in Nokia at USD 6.01 per share. The collaboration will integrate Nvidia’s ARC-Pro platform into Nokia’s RAN systems to boost efficiency, scalability, and network readiness.

Boyu Capital has reportedly emerged as the frontrunner to acquire a controlling stake in Starbucks’ China business, which could be valued at more than USD 4 billion, according to people familiar with the matter. Talks to finalize the deal may take months, with other investors likely to join as limited partners.

Miniso sells low-cost lifestyle goods, home essentials, and personal care items, making everyday products accessible to broader markets.

Miniso

How do stores adapt to digital shifts? Explore e-commerce integration, inventory analytics, and omnichannel strategies for modern shoppers.

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Young CEO Wang Shoucheng reflects on Yonghui’s outlook after a sweeping reform inspired by Pangdonglai.

One year after Miniso’s takeover, where does Yonghui Superstores stand?

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There’s more to car door safety than simply unlocking a latch.

Why car doors may fail to open after a crash, and how automakers can fix it

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Shen’s appointment comes amid a major reshuffle at the AI startup.

Amazon confirms 14,000 job cuts

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One year after Miniso’s takeover, where does Yonghui Superstores stand?

Why car doors may fail to open after a crash, and how automakers can fix it

Baidu veteran Shen Pengfei joins Lee Kai-Fu at 01.AI as co-founder