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Michigan attorney general Dana Nessel said the US state has asked battery company Gotion to repay USD 23.7 million after it abandoned a planned USD 2.…

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Michigan attorney general Dana Nessel said the US state has asked battery company Gotion to repay USD 23.7 million after it abandoned a planned USD 2.4 billion <a href="/industry/ev">EV</a> battery materials plant. The attorney general’s office said Gotion is in default of its agreement and has been given 30 days to return the funds.

Singapore will establish a national space agency on April 1 as it seeks a foothold in the global space economy, which the World Economic Forum estimates could reach USD 1.8 trillion by 2035. The agency will court overseas space companies, develop regulations, and may expand the country’s satellite programs.

<a href="/company/byd">BYD</a> led a broad selloff in Chinese <a href="/industry/ev">EV</a> stocks in Hong Kong after reporting a 30% YoY fall in January sales, its sharpest drop in months. Shares of <a href="/company/xpeng">Xpeng</a> and <a href="/company/nio">Nio</a> also sank more than 6%, as expiring subsidies and a new EV purchase tax weighed on demand.

Muyuan Foods launched its Hong Kong share offering on January 29, moving forward with its listing on the city’s stock exchange and supporting its expansion into offshore and overseas markets. According to Frost &amp; Sullivan, the company has been the world’s largest hog farming enterprise by production capacity and sales volume since 2021.

GIC and the Mubadala Investment Company are in talks to back a KKR-led consortium seeking to acquire data center operator STT GDC, people familiar with the matter said. The transaction, which includes Singtel, could be announced as soon as this week and may value the company at more than USD 10 billion including debt.

<a href="/company/tencent">Tencent</a> said Pang Tianyu, who holds a doctorate from Tsinghua University and is a former senior research scientist at Sea AI Lab, will join the company on February 4 as chief research scientist of its Hunyuan large model team, also leading multimodal reinforcement learning with an initial focus on generative models.

Redmi has rolled out the Turbo 5 smartphone series, launching the Turbo 5 and Turbo 5 Max alongside the Pad 2 Pro tablet and Buds 8 Pro earbuds. The Turbo 5 Max leads the lineup with MediaTek’s Dimensity 9500s chip, a 9,000 mAh battery, and 100W fast charging, with launch prices starting at RMB 2,199.

<a href="/company/tencent">Tencent</a> has teamed up with optics firm Zeiss to launch Dr.Z, an <a href="/industry/ai">AI</a>-driven pediatric eye health solution. The service has officially gone live and is available to the public through a WeChat mini program.

Chinese RISC-V chipmaker SpacemiT has launched its <a href="/industry/ai">K3</a> AI CPU, targeting edge and intelligent terminals with a pure RISC-V design. The chip delivers up to 60 TOPS of AI compute, integrates eight CPU cores running at up to 2.4 gigahertz, and supports as much as 32 gigabytes of memory, with initial deliveries planned for April 2026.

Indonesia Stock Exchange CEO Iman Rachman resigned after MSCI warned the market risked a downgrade to frontier status, triggering a selloff that erased over USD 80 billion in value. The Jakarta Composite Index fell more than 8% in two days, with foreign investors dumping about USD 645 million of shares as regulators rushed to propose reforms.

<a href="/company/openai">OpenAI</a> is preparing for a potential IPO in the fourth quarter, holding informal talks with banks and expanding its finance team, people familiar with the matter said. The move comes as competition with Anthropic and other <a href="/industry/ai">AI</a> rivals intensifies and as OpenAI seeks capital to fund large-scale infrastructure and chip investments.

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