To The Moon

AsianFin—Nanjing Renxin Technology Co., Ltd., a Chinese enterprise engaged in making smart driving communication chip, announced on Friday at the Beijing Auto Show that it has recently secured nearly 100 million yuan in Pre-A++ round financing. The company disclosed that the fund will primarily be used for the mass production of its first-generation 16Gbps high-performance automotive SerDes product, as well as for promoting its application in various scenarios and building a comprehensive customer service team. Dang Weiguang, the founder and CEO of Renxin Technology, said that the company will uphold the simple business philosophy of "creating value for customers," continue to increase independent research and development efforts, enhance product capabilities, deepen cooperation with

TMTPost -- TikTok owner ByteDance Ltd. doesn’t make clear how to handle the popular short video platform if the U.S. government bans it unless it is sold, but rumors about various options swirled. Credit：ByteDance  ByteDance would rather shut down TikTok in the United States than sell the app if the Chinese internet heavyweight exhausts all options to fight the legislation, Reuters cited sources on Thursday. It is very unlikely for ByteDance is very unlikely to sell TikTok as the algorithms the app relies on for its operations are considered core to ByteDance’s overall operation, according to sources close to the company. The sources suggested shutdown is a reasonable option for it would have limited impact on ByteDance’s business since TikTok makes up a small share of the paren

AsianFin-- Many cloud computing companies are actively engaged in developing their in-house trained foundational large models. This approach is understandable from a business perspective, but it may not be fully accepted by customers as the choice of large models may be restricted. On one hand, the innovation of large models is yet to reach its peak, and the capabilities of different model providers vary. On the other hand, it's also related to that customer demand scenarios as no single model can meet all scenarios. Therefore, for different use cases, customers need more than one or two models to satisfy all kinds of scenario requirements. In the past, more than 90% of Amazon Web Services (AWS) products were derived from customer needs. AWS's generative artificial

TMTPost -- Xiaomi raises its delivery target this year, highlight it feels upbeta on its first first electric vehicle (EV) model SU7. Credit：Xiaomi Xiaomi received over 70,000 locked-in orders as of April 20, more than three weeks after the launch of SU7, and it is making every effort to expand production capacity with an aim to deliver 100,000 units this year, the co-founder and CEO Lei Jun told audience at Xiaomi Investor Day on Tuesday. The delivery figure represents 12,500 cars per month in the rest of the year. It also suggested Xiaomi has hiked its target by nearly 40% as Lei said his company originally set the target of 72,000 units and his own sales target was 10,000 units per month.   Xiaomi’s goal is to make a dream car comparable to those from Porsche a

TMTPost -- China criticizes the European Union’s latest protectionist move and urged the bloc to abide by the World Trade Organization (WTO) regulations. Credit：the European Commission The EU has been frequently using its economic and trade “toolkit” and trade remedies, and such moves send out a signal of protectionism, aim at Chinese companies and hurt the EU’s own image, Wang Wenbin, the spokesperson of China’s Foreign Ministry, commented on an recent investigation the EU started at a regular press on Wednesday. China urges the EU to honor its commitment to open market and fair competition, observe WTO rules and stop going after and restraining Chinese companies under various pretexts, the spokesperson said. The EU claims it is the most open market in the world, but as the world ca

TMTPost -- The world’s leading short video application TikTok is facing the most serious risk of ban in the United States. Credit：Xinhua News Agency The U.S. President Joe Biden signed a bill that could ban TikTok in the country on Wednesday, hours after the U.S. Senate pass the legislation. The bill is part of a comprehensive foreign aid package providing assistance to Israel, Ukraine and other U.S allies. It gives TikTok owner ByteDance up to a year to divest its U.S. assets including TikTok, otherwise the Chinese tech giant would face a ban on its app being available in U.S. app stores or on U.S. web hosting services. The requirement of the latest bill suggested the deadline of TikTok sales was extended by six months after a bill the House passed last mont

TMTPOST—The United States has preliminarily discussed sanctions on some Chinese banks but does not yet have a plan to implement such measures, Reuters reported on Tuesday, citing an U.S. official, as Washington seeks ways to curb Beijing's support for Russia. The official, speaking on condition of anonymity, said there was no plan to roll out sanctions on China’s banks in the near-term, and said officials hope that diplomacy will avert the need for such action, according to Reuters. U.S. Secretary of State Antony Blinken arrived in China on Wednesday for a three-day visit. The Wall Street Journal reported on Monday, citing people familiar with the matter, that the U.S. was drafting sanctions against some Chinese banks in the hopes of stopping Beijing's commercial support of Russia's m

AsianFin—The U.S. legislature on Tuesday night finalized the legislation that could lead to a nationwide ban on TikTok, a popular China-owned short video sharing platform, unless it is sold to a U.S. government-approved buyer. The U.S. Senate passed the bill by a vote of 79 to 18 as part of a comprehensive foreign aid package providing assistance to Israel, Ukraine and other U.S allies. The proposal now heads to U.S. President Joe Biden's desk. It had been approved by the House last Saturday. Biden has expressed support for the foreign aid package and indicated his intention to sign the TikTok bill, suggesting it will likely be enacted into law in the near future. When Biden signs the bill into law, it would start the 270-day countdown for TikTok to find

TMTPost -- Latest data increase signs that Apple Inc.’s flagship device is suffering massive decline in sales in face of increasing competition from Chinese peers like Huawei Technologies Co., Ltd. AI Generated Image iPhone sales in China sank 19% year-over-year (YoY) in the first quarter of 2024, recording the device’s worst performance since Covid-19 struck around 2020, even though overall smartphone sales in the country grew 1.5% YoY, marking the second consecutive quarter of positive growth,  according to Counterpoint Research, a global technology market research firm. Data from the firm showed Huawei stood out as the best performer among all original equipment manufacturers (OEMs) , surging 69.7% YoY in sales. Huawei’s growth was largely attributed to the successful launch

TMTPost -- With a critical procedural vote, the U.S. Senate on Tuesday moved closer to pass a bill that could ban TikTok in the country. Credit：Xinhua News Agency The Senate voted to advance the legislation to provide the US$95 billion aid package to Ukriane and threaten Chinese tech giant ByteDance’s U.S. operations including TikTok. The vote of 80-19 showcased a wide bipartisan support that is enough to clear the Senate in a final vote, which could come as soon as Tuesday night. The U.S. House of Representatives greenlighted the bill by a 360-58 vote Saturday. The bill would give ByteDance up to a year to divest its U.S. assets including TikTok, otherwise the Chinese tech giant would face a ban on its app being available in U.S. app stores or on U.S. web hosting services. The requi