- Top Bit: Volkswagen’s In-House AI Chip:
- VW is investing ~$200 million USD to develop its own AI chip in China via the Carizon JV with Horizon Robotics.
- The chip will power Level 3 driver assistance and provide 500–700 TOPS of computing power.
- The move is a strategic bid to localize core technology and compete with Chinese EV makers.
- Number of the Day: $15 Million—Value of dinosaur skeletons and artifacts seized from a Chinese money-laundering suspect by British authorities.
- Highlights: Japan and Korea stocks drop biggest since April; investor fears of an “AI bubble” grow; SoftBank plunges 14%.
- Market Bit: Cathay Pacific Buys Out Qatar Airways:
- Cathay buys back Qatar's 9.57% stake for $896 million USD (HKD 6.97bn).
- The buyback is a sign of “strong confidence” in Hong Kong’s aviation future and a desire for more control.
Head of the Day: David Ha (Sakana AI): Former Google researcher and founder of Japan’s first AI unicorn, named after the collective intelligence of a school of fish. His company's system, AI Scientist, authored the first AI-written peer-reviewed paper.
- Short News of the Day:
- China bans all foreign AI chips (Nvidia, AMD, Intel) in new state-funded data centers—a major step toward tech decoupling.
- Chinese EV maker Seres raised $1.84 billion USD in one of the year's largest Hong Kong IPOs.
- Norway found that Chinese Yutong electric buses could be remotely shut down, leading to new cybersecurity rules.
- Toyota raised its annual profit forecast to 3.4 trillion yen.
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