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Zhang Yaqin: AI is not a bubble, but AI companies are.
In June, during an interview at the Tsinghua Wuxi Research Institute's Intelligent Industry Innovation Center, Academician Zhang Yaqin discussed the current state of AI investment and entrepreneurship, suggesting a more cautious approach to the rapidly growing sector. Zhang, who founded the Tsinghua University Intelligent Industry Research Institute (AIR) five years ago, noted that while AIR has successfully incubated ten companies with a combined valuation of 150 billion yuan, its primary focus remains on research rather than commercialization. Zhang, a prominent figure in AI and a fellow of the IEEE, likened the current AI investment climate to the internet boom of 1998-1999, emphasizing the importance of sustainable growth and cautioning against the potential for market bubbles. He highlighted the need for new AI algorithms to enhance efficiency and pointed out that while the AI sector holds significant long-term potential, many early-stage companies may face challenges in proving their viability. Every June, AIR hosts the "Taihu Dialogue" in Wuxi, fostering discussions on AI advancements. Zhang expressed concerns about the risks associated with high valuations and the necessity for a focused approach in startups. He emphasized that while funding is crucial, it should not overshadow the importance of developing robust products and technologies. Looking ahead, Zhang identified "physical AI" as a key area for development by 2026 and outlined the challenges of creating robots capable of performing complex tasks in real-world environments. He underscored the importance of collaboration between academia and industry to cultivate talent and drive innovation in AI, while also addressing the ethical and safety risks associated with advanced AI systems.
Roundtable: We Celebrate Adventure - Sooner, Smaller, and Deeper | 36Kr WAVES 2026 New Wave
In 2026, the investment landscape in China is witnessing a significant shift as artificial intelligence (AI) transitions from a conceptual technology to a mainstream industry force. The WAVES 2026 conference, hosted by 36Kr and AnYun, took place over two days in the Liangcang Creative Park in Panyu, Guangzhou, under the theme "This Summer." The event brought together top investors, industry leaders, and emerging entrepreneurs to explore key sectors such as AI, hard technology, healthcare, and international expansion through 14 in-depth roundtable discussions and numerous independent speeches. Prominent figures in the venture capital sector, including Liu Yuan from ZhenFund, Xu Shi from Shanhang Capital, Lin Haizhuo from Zhuoyuan Asia, and Xu Zhihao from Mingshi Capital, shared insights on the challenges and opportunities in early-stage investments. They discussed the current state of angel investments, which account for only 1.9% of the total equity market, emphasizing the need for a deeper understanding of the evolving technology landscape and the importance of backing resilient founders who can adapt to rapid changes. The conference highlighted the critical role of early-stage investors in identifying promising startups and supporting them through various funding rounds, despite the inherent risks and uncertainties. As the AI revolution continues to unfold, the dialogue among industry experts underscored the necessity of fostering innovation and collaboration to drive China's technological future.
Italy's antitrust authority investigates Microsoft.
Italy's antitrust authority announced on Friday that it has launched an investigation into Microsoft over alleged unfair business practices related to its Microsoft 365 subscription service. The regulator claims that Microsoft failed to adequately inform consumers about the integration of AI tools, Copilot and Designer, into the service. As a result, users are automatically switched to a more expensive subscription plan unless they actively opt out. The limited information provided by the platform has made it difficult for consumers to make informed decisions about renewing their subscriptions.
Roundtable: When Will Robots Enter Real Scenarios Amid Widespread Bubble Awareness?
In 2026, the investment landscape in China is witnessing a significant shift as artificial intelligence (AI) transitions from a conceptual technology to a driving force in various industries. The WAVES 2026 conference, hosted by 36Kr and AnYun, took place in Guangzhou's Panyu district, bringing together top investors, industry leaders, and emerging entrepreneurs to explore the evolving landscape of AI, hard technology, and healthcare through 14 in-depth roundtable discussions and numerous independent speeches. Prominent figures in the field, including CEOs and CTOs from leading tech companies, gathered to discuss the potential of embodied intelligence—a rapidly growing sector attracting substantial investment. The discussions highlighted the challenges and opportunities within this domain, particularly regarding the commercialization of robotics and AI technologies. Participants shared insights on the current state of the market, with some companies already generating revenue through innovative applications of AI in various sectors. However, concerns about market bubbles and the sustainability of investments were also raised, emphasizing the need for a deeper understanding of the underlying business models and real-world applications. As the conference concluded, the consensus among attendees was that while the industry is still in its infancy, the potential for growth and innovation remains vast, driven by a new generation of entrepreneurs eager to redefine the future of technology in China.
RoboScience launches Visics, a versatile embodied model for cross-ontology, cross-object, and cross-task applications.
On June 24, RoboScience, a company specializing in embodied intelligence, unveiled its self-developed Visics large model, introducing the innovative VLOA (Vision-Language-Object-Action) architecture. This announcement marks a significant advancement in the field, demonstrating the model's applications in real-world scenarios such as furniture assembly, dexterous grasping, and dynamic assembly lines. The current landscape of embodied intelligence lacks a universally accepted foundational representation unit, which hampers data collection, model learning, and the transfer of knowledge to new contexts. Traditionally, models have focused on replicating specific robotic movements tied to particular tasks, limiting their adaptability to new robots, objects, or environments. Founder and CEO Tian Ye highlighted three major challenges in robotic operations: poor generalization, difficulty in precise manipulation, and cumulative errors in long-range tasks. To address these issues, RoboScience has developed a new foundational representation unit from the ground up. The Visics model employs a dual-engine architecture, consisting of an embodied world model and a universal operation model, each operating independently. The embodied world model utilizes vast amounts of internet video data to learn the physical dynamics of objects, while the operation model translates object trajectories into actionable commands for robots. This layered design enhances the model's generalization capabilities across various robotic platforms and tasks. RoboScience's innovative approach also includes a high-precision simulation engine, RoboMirage, which, combined with automated video data annotation, significantly reduces data acquisition costs. The company aims to build a comprehensive dataset of over 1 terabyte of high-quality manipulation trajectories by 2026. Since its inception, RoboScience has garnered support from multiple investors and established research and production centers in major Chinese cities. The company plans to collaborate with various sectors, including retail and logistics, to standardize robotic products for industrial and commercial applications by the end of this year.
XianGong AI's rollercoaster: 7% drop in dark market, 38% surge on debut day.
On June 24, XianGong Intelligent (06106.HK) made its debut on the Hong Kong Stock Exchange, opening at HKD 101.6 and experiencing significant volatility throughout the day. The stock surged by as much as 38.3% to reach a peak of HKD 140.50 before settling at HKD 115.70, marking a 13.88% increase. The trading session saw a total turnover of HKD 533 million, resulting in a market capitalization of HKD 12.78 billion. Despite the initial excitement, the stock's performance raised concerns about its high valuation, with a price-to-sales ratio of approximately 25 times based on last year's revenue of HKD 442 million. This valuation positions XianGong as one of the most expensive robotics IPOs in Hong Kong, especially when compared to competitors like Geek+ and Estun, which have significantly lower ratios. The trading day was marked by dramatic fluctuations, with the stock initially trading at HKD 105 in the dark market before plummeting to a low of HKD 80, reflecting a 21.3% drop. The limited availability of shares, with only 9.5% publicly issued and 4.12% locked by cornerstone investors, contributed to the sharp price movements. XianGong holds a leading 24.8% share in the global robotics controller market, but its overall revenue ranking is lower, placing seventh globally in industrial intelligent robotics. Analysts suggest that the company's reliance on controller sales may not be sustainable, as major manufacturers typically produce their own controllers, limiting XianGong's potential customer base. The company's future performance will depend on its ability to maintain market share and improve profitability, with investors closely monitoring upcoming financial reports for insights.
Roundtable: Those who stand against the wind, seeking answers across the sea | 36Kr WAVES 2026 New Wave
In 2026, the WAVES conference, organized by 36Kr and AnYun, took place in Panyu, Guangzhou, focusing on the theme "This Summer." The event gathered top investors, industry leaders, and emerging entrepreneurs over two days to discuss the evolution of AI and hard technology, which are shifting from niche areas to mainstream consensus. The conference featured 14 in-depth roundtable discussions and numerous independent speeches that explored the underlying logic of key sectors such as AI, hard technology, overseas expansion, and healthcare. Key speakers included Peng Xiaoqiu, editor-in-chief of 36Kr, Zhang Hanliang from DBS Bank, Tao Yangfeng from Zero One Capital, Guo Bin from Paradise Silicon Valley, and Liu Bingbin, CEO of Zendure. They shared insights on the changing landscape of entrepreneurship, particularly the transition from manufacturing advantages to brand and engineering advantages in the past decade. Discussions highlighted the importance of understanding market demands and the risks associated with overseas expansion, emphasizing that successful ventures require a deep understanding of both domestic and international markets. The conference underscored the necessity for entrepreneurs to be aware of their capabilities and the potential pitfalls of blindly pursuing global opportunities. As the landscape of international business continues to evolve, the insights shared at WAVES 2026 aim to guide entrepreneurs in navigating the complexities of global markets.
Roundtable Forum: 2026 - A Year of Technology "Minority, Yet a Wave" | 36Kr WAVES 2026 New Wave
In 2026, the Chinese venture capital landscape is witnessing a significant shift as artificial intelligence (AI) transitions from a conceptual technology to a mainstream industry force. The WAVES 2026 conference, organized by 36Kr and AnYun, took place in Guangzhou's Panyu District, bringing together top investors, industry leaders, and emerging entrepreneurs to explore the evolving landscape of AI, hard technology, and other key sectors. Over two days, the event featured 14 in-depth roundtable discussions and numerous independent speeches, focusing on the underlying logic of these core areas and highlighting how the persistence of a few innovators is shaping industry transformation. During a roundtable hosted by He Sichong from Ant Group's NEXTA Innovation Lab, four prominent entrepreneurs shared insights on the rapid advancements in their respective fields. They discussed the increasing acceptance of previously niche technologies, such as embodied intelligence and tactile perception, which are now beginning to redefine industrial processes and human-machine interactions. Despite the enthusiasm, the panelists acknowledged the challenges of integrating these technologies into real-world applications, emphasizing the need for continued innovation and adaptation to meet evolving market demands. As the conference concluded, participants expressed optimism about the future of embodied intelligence and its potential to revolutionize various sectors, while also recognizing the importance of addressing the complexities of deploying these technologies in dynamic environments.
Roundtable Discussion: Hey? AI! This Month, This Year, and Next Five Years of AI | 36Kr WAVES 2026 New Wave
In 2026, the investment landscape in China is witnessing a significant transformation as artificial intelligence (AI) evolves from a mere technical concept to a driving force in various industries. The WAVES 2026 conference, organized by 36Kr and AnYun, took place in Guangzhou's Panyu district, gathering top investors, industry leaders, and emerging entrepreneurs to explore the implications of AI and hard technology on the future of innovation. Over two days, the event featured 14 in-depth roundtable discussions and numerous independent presentations, focusing on key sectors such as AI, hard technology, international expansion, and healthcare. During the conference, industry experts discussed the rapid pace of AI development, highlighting how companies are now experiencing frequent valuation updates and financing rounds. Investors shared insights on the changing dynamics of funding, with many companies securing multiple rounds of financing within months, a stark contrast to previous trends. The conversation also touched on the implications of regulatory challenges, particularly concerning AI models and their accessibility. Participants emphasized the importance of stability and reliability in AI applications, as well as the need for a deep understanding of specific industries to successfully implement AI solutions. The discussions underscored a growing interest in physical AI applications, with expectations for commercialization in sectors like pharmaceuticals and materials science within the next few years. As the AI landscape continues to evolve, investors are increasingly focused on identifying unique opportunities and fostering innovative solutions that address real-world challenges.
Chasing rumors: Car CEO's departure untrue; WeChat tests native AI assistant; Apple, Tesla supplier data leaked.
On June 23, the ChiNext Index experienced its largest decline of the year, falling over 4% during trading and closing down 3.84%, dipping below the critical 4200-point mark. This downturn followed a record high set just a day prior. The trading volume for the day reached approximately 901.65 billion yuan, a decrease of 118.9 billion yuan from the previous day. All ten of the index's top-weighted stocks saw declines, particularly those in the AI computing sector. In a separate development, Tata Electronics confirmed a significant data breach, with over 630GB of sensitive information leaked, including design and specification documents for key clients like Apple and Tesla. The company stated that it had initiated a response plan and that operations remained unaffected. Apple is reportedly conducting a thorough investigation into the incident. Meanwhile, SpaceX has entered a multi-billion dollar agreement with AI startup Reflection AI to provide computing resources, with payments set to begin in July and continue through 2029. In the robotics sector, Nvidia unveiled its "Halos for Robotics" safety system aimed at enhancing the security of physical AI applications, while Faraday Future introduced its industrial-grade robotic arm series at a robotics expo in Chicago. Additionally, Meta has paused an internal AI training program that tracked employee mouse movements due to data security concerns, and Oracle announced a workforce reduction of approximately 21,000 employees, marking a 13% decrease in its total workforce as part of a business restructuring.
Taiwan Excellence Pavilion at Automate 2026: 23 Companies Showcase Edge AI and Robotics
Taiwan Excellence Pavilion brings 23 certified companies to Automate 2026 in Chicago (June 22–25), showcasing edge AI, collaborative robots, precision motion and industrial computing solutions for U.S. smart manufacturing.
SpaceX falls below IPO closing price, losing $400 billion; UK PM Starmer resigns; SK Hynix surpasses Samsung in market value.
On June 22, UK Prime Minister Keir Starmer announced his resignation from the leadership of the Labour Party, stating he would continue to serve as Prime Minister until a successor is chosen. Starmer acknowledged the party's concerns about his ability to lead them into the next election and accepted the feedback he received. In South Korea, semiconductor giant SK Hynix surpassed Samsung Electronics in market capitalization for the first time in 25 years, with a total value of approximately 207.97 trillion won, outpacing Samsung by about 18.85 trillion won. This shift marks a significant change in the Korean stock market, where Samsung had held the top position since 1999. Meanwhile, Samsung Electronics has rolled out ChatGPT and Codex to all its employees in South Korea, aiming to enhance AI adoption within the company. This deployment is one of OpenAI's largest enterprise-level initiatives to date, covering various operational areas including research and development, manufacturing, and marketing. In the United States, SpaceX's stock has seen a significant decline, dropping 16% and falling below its initial public offering price. The company is now planning to issue bonds to raise at least $20 billion to repay a transitional loan and support general corporate purposes. Lastly, former U.S. Federal Reserve Chairman Alan Greenspan passed away at the age of 100, leaving behind a legacy of significant influence on U.S. economic policy during his tenure from 1987 to 2006.
Roundtable Forum: The Real Landscape of AI Venture Capital Beyond Consensus
In a recent roundtable discussion on the evolving landscape of artificial intelligence (AI) investment, industry leaders emphasized the importance of acting ahead of consensus to seize opportunities. The forum featured prominent figures such as Zhu Tianyu, managing partner at BlueRun Ventures, and Qin Shentao, founder and CEO of OriginFlow, who shared insights on their early investment strategies. Zhu, who joined BlueRun in 2009, highlighted his early investments in successful companies like Li Auto and Genspark, noting that he made quick decisions based on a structured understanding of global challenges rather than just project details. He expressed confidence in OriginFlow’s potential, which focuses on non-invasive neural interfaces for embodied intelligent robots, aligning with key trends in artificial general intelligence (AGI), robotics, and 3D interaction. Qin, a Tsinghua University PhD, explained that OriginFlow aims to revolutionize how intelligent systems interact with the physical world, addressing a significant gap in data collection and processing. Within just five months of operation, the company secured over 500 million RMB in funding, demonstrating strong market interest. Both leaders acknowledged the challenges of navigating the current AI investment climate, characterized by rapid funding influxes and potential market bubbles. They stressed the need for investors to discern genuine innovation from fleeting trends, emphasizing that true value lies in solving fundamental problems rather than chasing hype. As the discussion concluded, they reiterated their commitment to fostering groundbreaking advancements in AI and embodied intelligence.
Peking University team develops new generation data acquisition device using EMG wristband, backed by Gong Hongjia, Lu Qi, and overseas
The SnowOrigin team, composed of researchers from Peking University, has secured investments from notable figures including Gong Hongjia and Lu Qi, as well as overseas institutions. This innovative team focuses on surface electromyography (sEMG) technology to develop a new generation of human control data collection solutions, utilizing wearable devices like neural wristbands and panoramic headsets, along with their proprietary Neural Math Hybrid (NMH) AI decoding model. As the fields of embodied intelligence and Physical AI rapidly evolve, there is an increasing demand for high-quality human control data. Current mainstream data collection methods, such as first-person video and motion capture, often fail to capture critical information about the intent and nuances of human actions. SnowOrigin's wearable devices aim to bridge this gap by integrating muscle and neural signal decoding technologies to create structured data that includes posture, force, and micro-control, thereby supporting the training of robots and world models. Founder Qin Xu emphasized that unlike traditional lab-based motion capture systems, their wearable solutions are cost-effective, lightweight, and suitable for long-term use without disrupting daily activities. The team is advancing two commercialization pathways: enhancing human-robot interaction for AI devices and building a foundational data infrastructure for Physical AI applications. With a strong academic background and a commitment to innovation, SnowOrigin is positioned to lead in the emerging market for embodied data collection, having already made significant strides in real-time decoding of sEMG signals into actionable insights. As the demand for comprehensive interaction data grows, the team is poised to capitalize on this shift in paradigm.
Euro credit default swap costs rise amid renewed concerns over AI.
Concerns over the valuation of AI companies have led to a deterioration in market sentiment, resulting in increased costs for credit default protection on euro-denominated bonds. A report from Deutsche Bank strategists highlights that worries about the technology sector have overshadowed investor optimism regarding progress in U.S.-Iran negotiations. According to data from S&P Global Market Intelligence, the iTraxx Europe Crossover index, which tracks euro high-yield credit default swaps, rose by 3 basis points to 250 basis points. Meanwhile, the iTraxx Europe Main index, which monitors euro investment-grade credit default swaps, increased by 1 basis point to 52 basis points.
Beyond the Gantt Chart: How Skody AI Explains Why Orders Are Late
Skody AI goes beyond traditional APS by decomposing job lead times into specific delay causes — material waits, bottleneck queues, and off-shift gaps — giving discrete manufacturers a continuous, explainable finite-capacity schedule.
Aerospace equipment company, with a team experienced in major aircraft assembly, secures millions in funding.
Dalian Kunda Automation Co., a company specializing in intelligent assembly equipment for large aircraft, has successfully completed a Series A funding round, raising tens of millions of yuan. The investment was led by Taizhou Yongxin Rongyan Venture Capital Partnership, with Dagan Capital serving as the exclusive financial advisor. The funds will primarily be allocated for the development of a new generation of intelligent assembly systems, expansion of core product capacity, and to supplement working capital. Founded in 2016, Dalian Kunda focuses on providing automation solutions for heavy manufacturing sectors, particularly in aerospace. The company offers a range of products, including high-precision mobile docking platforms and composite mobile robots, catering to major manufacturers and research institutions in aviation, aerospace, and engine sectors. Dalian Kunda has developed advanced technologies to meet the stringent demands of aerospace assembly, including high-precision docking and assembly techniques. Its products, capable of handling loads from 2 to 200 tons, integrate laser SLAM, visual navigation, and autonomous scheduling systems for efficient operation in large-scale manufacturing environments. The company has reported a revenue of approximately 80 million yuan for the latest fiscal year, marking a 49% increase. With a strong focus on research and development, Dalian Kunda holds over 60 patents and collaborates with Dalian University of Technology on precision assembly algorithms. Investors are optimistic about Dalian Kunda's potential, citing the rapid growth of the domestic aerospace market and the company’s established expertise in flexible production solutions. The firm aims to expand its presence in the civil aviation sector and explore opportunities in low-altitude economic initiatives, particularly in the development of large unmanned cargo aircraft.
Sequoia and Alibaba-backed embodied AI company secures hundreds of millions in new funding.
Noematrix, a company specializing in embodied intelligence, has recently secured hundreds of millions in funding, led by Wuxi Data Group, with participation from Shanghai Jiao Tong University's AI Future Fund, Shanghai Chuangzhi Technology Co., and Yicun Capital. This marks the latest financing round for Noematrix, which has attracted investments from several notable firms, including Prosperity7 Ventures and Alibaba, since its establishment in November 2023. The company focuses on the autonomous development of foundational models and systems for embodied intelligence, having launched its core product, Noematrix Brain. This product is part of a comprehensive hardware and software ecosystem that spans data collection, model training, deployment, and application in embodied robotics. The industry narrative surrounding embodied intelligence is shifting from merely executing tasks to ensuring robots can operate stably in real-world environments. Noematrix aims to enhance model robustness by integrating real-world and simulated data into its training processes, utilizing its proprietary data collection devices to gather diverse datasets from various environments. Noematrix's robots have already begun commercial deployment in pharmacies, addressing longstanding labor challenges in the sector by automating order fulfillment. The company has partnered with several leading pharmacy chains, achieving significant order volumes. Following this funding round, Noematrix plans to accelerate the development of its general-purpose embodied intelligence models, targeting applications in retail and hospitality sectors.
NIO enhances smart driving education; Ren Shaoqing states innovation will reshape competition.
On June 18, NIO announced the rollout of its latest world model software across multiple vehicle platforms, including eight NT2.0 models, four NT2.5 models, and six NT3.0 models. This update allows NIO to run the same complex autonomous driving code on different generations of chips, addressing a common industry challenge where software updates were often limited to the latest hardware, leaving older vehicle owners at a disadvantage. The initiative stems from a long-term effort by NIO's team, led by Ren Shaoqing, who began exploring solutions in 2020. NIO developed an AI infrastructure that bridges gaps between different chip architectures, enhancing vehicle processing speeds with an AI compiler and automating deployment processes with AI agents. This innovation has significantly reduced deployment times from days to just a couple of hours. NIO's approach includes running the latest models in a "shadow mode" on production vehicles to gather valuable data without interfering with user driving. This data is used to train smarter models, creating a feedback loop that enhances the software's performance. The company has reported a substantial increase in its autonomous driving capabilities, attributing this to a shift in understanding the development cycle of physical AI. As the industry evolves, NIO has restructured its autonomous driving team to focus on foundational research and innovation, positioning itself to leverage advancements in large model technology and closed-loop reinforcement learning. The company aims to enhance its competitive edge by continuously improving its algorithms and data systems, ultimately striving for a more robust autonomous driving experience.
BilibiliWorld 2026 is China's first overseas ticketed ACG event; 17 measures to promote AI in consumer development; Kuaizhou-11 rocket successfully
Didi Autonomous Driving showcased its advancements in self-driving technology at the MOVE 2026 conference held in London on June 17-18. The company highlighted its achievement of L4-level core technology and the delivery of its new Robotaxi model, R2, developed in collaboration with GAC Aion, which is currently undergoing road tests in cities like Guangzhou and Beijing. Since launching all-weather passenger testing in select areas last year, Didi has maintained a safe and stable operational performance. On June 18, Cainiao's Vice President Bi Jianghua announced plans to deploy four large-scale climbing robot warehouses globally within the next four months, following successful trials during the 618 shopping festival. This initiative aims to enhance the efficiency of e-commerce supply chains. DingTalk's new CEO, Chen Yusen, communicated organizational changes in a company-wide letter, establishing a core platform business department and integrating various teams to streamline operations. The State Administration for Market Regulation is overseeing an antitrust compliance rectification for Huolala, mandating the cessation of practices that unreasonably lower freight prices and enforcing fair pricing algorithms. The company is expected to refund 1.2 billion yuan to drivers and reduce its commission rates. Additionally, Cao Cao Mobility announced its RoboX strategy at the International Automotive and Supply Chain Expo in Hong Kong on June 18, planning to deploy 100,000 Robovans by 2030 to enhance logistics networks. BilibiliWorld 2026 will be the first comprehensive ACG exhibition in China to offer overseas ticket sales, with tickets available globally starting June 20, for the event scheduled from July 10-12 in Shanghai. KKR has committed $1.4 billion to expand Altavair's commercial aircraft leasing portfolio, while Manifold AI has secured nearly 1 billion yuan in Pre-A funding. In economic news, Goldman Sachs suggests the Federal Reserve may need to implement consecutive rate hikes in September if inflation remains high. Meanwhile, Hong Kong plans to launch five-year government bond futures on August 3, 2026. The Ministry of Commerce has introduced 17 measures to promote the integration of artificial intelligence into consumer markets.
Zhejiang University Entrepreneurs Seek Hong Kong IPO: Five Highlights from XianGong Intelligent's Prospectus
On June 15, the Hong Kong-based robotics company XianGong Intelligent (06106.HK) commenced its initial public offering (IPO) with a share price set at HKD 101.60 for a minimum lot of 50 shares, valuing the company at HKD 11.227 billion. XianGong first submitted its IPO prospectus to the Hong Kong Stock Exchange in May 2025, but after a six-month lapse, it resubmitted in November, finally passing the hearing in June. The company, which specializes in robotic controllers, is expected to officially list on June 24, with China International Capital Corporation acting as the sole sponsor and CMB International as the overall coordinator. Despite being the global leader in robotic controllers, XianGong faces challenges, including a projected net loss of HKD 47.6 million in 2025, despite a narrowing loss trend. The company's revenue is primarily driven by its robots, which contribute 67.9% of income but have a lower profit margin compared to its controllers and software. XianGong has raised approximately HKD 2.83 billion through four rounds of financing prior to the IPO, with significant investments from firms like ProLogis and IDG. Valued at a price-to-sales ratio of 22, XianGong's IPO is the most expensive among its peers, relying heavily on maintaining high growth and profit margins. The company's founder, Zhao Yue, a Zhejiang University graduate and two-time RoboCup champion, leads a team with a strong academic background in robotics. As XianGong prepares for its market debut, its future performance will be closely monitored amid ongoing financial challenges.
Interview with Luo Jianlan: The true scaling law of robots occurs in real deployment loops.
In the past six months, the focus of the domestic embodied intelligence sector has shifted from hardware competition to the deeper challenges that define the intelligence limits of robots. Luo Jianlan, an associate professor at Shanghai Chuangzhi Academy and chief scientist at Zhiyuan Robotics, argues against the prevailing notion that robots can replicate large language models through sheer data accumulation. He emphasizes that the core issue in embodied intelligence is not about breakthroughs in isolated components but rather the ability to create a closed-loop system in real-world deployments. Luo, who has a background in both academia and industry, including roles at Google X and DeepMind, believes that many teams in the sector are not genuinely pre-training models but are instead engaged in mid-training or fine-tuning due to the scarcity of high-quality interaction data. He asserts that true embodied intelligence requires a scalable closed-loop system, where deployment leads to data collection, which in turn enhances model capabilities. His current focus includes developing scalable online post-training infrastructure, enabling robots to learn continuously in real-world environments, and creating a world model that predicts the consequences of actions rather than merely generating video. Luo suggests that the future of embodied intelligence hinges on successfully integrating these elements into a cohesive system, with significant advancements expected in the next 12 to 18 months. He believes that the first team to effectively implement a "deployment-data-iteration" cycle in semi-structured environments like convenience stores will gain a substantial competitive edge.
Li Auto reveals evolution goals for the Mach VLA capabilities.
At the recent Livis Day event hosted by Li Auto, the head of the company’s base model division, Zhan Kun, announced ambitious goals for the evolution of the Li Auto Mach VLA capabilities. The company plans to roll out a new version of the AD MAX system in the third quarter, which will enhance the Mach VLA's functionalities. Additionally, by the fourth quarter, Li Auto aims to align its capabilities with Tesla's FSD V14, signaling a competitive push in the autonomous driving sector. This strategic move reflects Li Auto's commitment to advancing its technology and staying competitive in the rapidly evolving electric vehicle market.
Founder of "Daxiao Robotics," which raised hundreds of millions, reveals divisions in the embodied AI industry.
In a recent interview, Wang Xiaogang, chairman of ACE Robotics and co-founder of SenseTime, discussed the rapid advancements of his company since its establishment in July 2025. Within just a year, ACE Robotics has emerged as a significant player in the field of embodied intelligence, recently launching its Kairos 3.0 model, which achieved state-of-the-art results in four global benchmarks. The company has also developed an innovative data collection strategy that expands its training dataset to over one million hours, significantly enhancing its capabilities compared to traditional methods. On June 15, 2026, ACE Robotics announced the successful completion of its angel+ funding round, raising substantial capital from various investors, including Da Chen Capital and Shanghai Science and Technology Innovation Fund. This brings the total funding raised in 2026 to several hundred million dollars, positioning ACE Robotics as one of the fastest unicorns in the industry. Wang emphasized the importance of collaboration within the long and complex supply chain of embodied intelligence, noting that many companies are hesitant to enter practical applications due to technical maturity and resource constraints. He outlined ACE's strategy of focusing on scalable business-to-business (B2B) scenarios, such as road inspections and logistics, before expanding into more complex consumer-facing applications. Despite the competitive landscape, Wang believes that ACE Robotics can leverage its unique approach to data collection and model training to establish a strong foothold in the market, ultimately aiming to enhance the efficiency and effectiveness of embodied intelligence solutions across various sectors.
Zhi Ping Fang launches NeuroVLA, a brain-like embodied intelligence system.
Recently, Zhi Ping Fang unveiled NeuroVLA, an innovative brain-inspired embodied intelligence system, marking a significant advancement in robotics. This system features a unique three-tier architecture that mimics the human brain, comprising the cortex for semantic understanding and task planning, the cerebellum for high-frequency motion coordination and dynamic correction, and the spinal cord for rapid motion execution and safety reflexes. Experimental results indicate that NeuroVLA can reduce robotic motion jitter by over 75% and achieve reflex responses within 20 milliseconds following a collision, all while significantly lowering system power consumption. This breakthrough aims to enhance the efficiency and safety of robotic operations, positioning NeuroVLA at the forefront of intelligent robotics technology.
Interview with Wang Zhongyuan: VLA will survive, but world models are the future.
In recent months, the concept of "World Model" has gained significant traction within the AI and robotics sectors, driven by underlying industry anxieties. As AI technology has rapidly evolved over the past two years, limitations in embodied intelligence have become apparent, revealing that while robots can recognize objects, they struggle to understand physical interactions and causal relationships. The World Model aims to bridge this gap by enabling robots to learn the laws of the physical world. At the forefront of this exploration is Wang Zhongyuan, the director of the Beijing Academy of Artificial Intelligence, who identifies four distinct paths in the development of World Models. These include language-centered models, pixel-centered models, 3D structure-centered models, and visual representation-centered models. The Beijing Academy is pioneering a fifth approach that integrates language and visual data into a unified latent space representation, allowing for more complex interactions and predictions. Wang emphasizes that the World Model's potential lies in its ability to enhance embodied intelligence, enabling robots to understand and predict physical interactions over time. He envisions a future where World Models serve as the foundational brain for robots, capable of complex reasoning and decision-making in real-world scenarios. However, he cautions that achieving this goal will require significant advancements in data collection and model training, with a timeline of three to five years anticipated for substantial progress. As the field continues to evolve, the competition will focus on the ability to create models that accurately reflect the complexities of the physical world.
SpaceX's valuation exceeds $2.1 trillion; Musk's wealth is seven times Buffett's; FIFA labubu sales surge 30 times.
On June 12, 2026, SpaceX made headlines by completing its initial public offering (IPO) on the Nasdaq, marking the largest IPO in history with a valuation of $1.77 trillion. The stock opened at $150 and surged by over 30% during trading, closing at $160.99, which pushed the company's market capitalization to $2.1 trillion. This surge significantly increased CEO Elon Musk's net worth to approximately $1.05 trillion, making him the world's first billionaire with a net worth exceeding $1 trillion. The IPO's success reflects investor confidence in SpaceX's growth potential, particularly in light of its ambitious Terafab project. In a separate development, Kimi announced the launch of the world's first AI-native credit card, which allows users to convert their spending into AI computing power. This initiative, revealed on the same day, is a collaboration with a major state-owned bank and aims to innovate the financial landscape by integrating AI services into credit card benefits. Additionally, SK Hynix reported a fire incident at its facility in Cheongju, South Korea, which was the second fire this month. Fortunately, there were no injuries or gas leaks, and the situation was quickly controlled. These events highlight significant advancements in technology and finance while also addressing operational challenges faced by major companies.
Magic Atom's debut of the VLA K02 model at the conference
On June 13, the 12th China (Shanghai) International Technology Import and Export Fair (CSITF) concluded in Shanghai. During the event, MagicLab showcased its comprehensive technology matrix and publicly unveiled two major technological achievements for the first time in the domestic market: the self-developed Magic-VLA K02 large model and the Magic-Mix world model. This presentation highlights MagicLab's commitment to innovation and its role in advancing technological development in China.
The Enlightenment World Model tops evaluations in RoboTwin 2.0 and other embodied intelligence tests.
Recently, DaXiao Robotics announced that its Kairos world model has achieved top rankings in several global evaluations focused on embodied intelligence, including RoboTwin 2.0, LIBERO-Plus, WorldModelBench Robot, and DreamGen. This model employs an integrated architecture that combines multimodal understanding, generation, and prediction. In a significant move for the industry, DaXiao Robotics has made the Kairos model open-source, allowing broader access and collaboration in the field of AI-driven video generation and state prediction.
SpaceX sets IPO price to raise $75 billion; OpenAI CEO delays South Korea visit; new AI complaint center launched.
OpenAI CEO Sam Altman has postponed his planned visit to South Korea, originally scheduled for June 14-15, due to personal reasons. During the visit, he was expected to meet with leaders from major companies including Samsung Electronics, Kakao, and NAVER. In a separate announcement, Waymo, the autonomous driving subsidiary of Alphabet, revealed a new $30 monthly membership plan called Waymo Premier, aimed at invited users. This plan will offer benefits such as priority rides, a 10% cashback on trips, and the ability to cancel rides up to five times a month at no cost. Initial invitations will be sent to eligible passengers in San Francisco, Los Angeles, and Phoenix, with plans to expand to other cities. Meanwhile, SK Hynix is exploring the integration of AI technologies, including ChatGPT, into its operations. CEO Lee Seok-hee indicated that the company is balancing the protection of industrial technology with the adoption of external AI services, considering tools like Microsoft 365 and CoPilot. In financial news, major Wall Street banks have begun restricting hedge funds' leverage on Asian chip stocks, including SK Hynix and Samsung, due to concerns over potential market corrections. This move involves raising financing costs for hedge fund bets and limiting new transactions. Additionally, Google announced a $50 million investment to train U.S. tech workers, addressing the growing demand for AI infrastructure. This investment is part of a broader initiative that has already seen over $1 billion allocated to training programs since 2022. Lastly, SK Hynix reported that a fire at its Cheongju plant on June 12 has been brought under control, with production equipment operating normally.
SpaceX set to go public; Musk may become world's first trillionaire; Bill Gates testifies on Epstein case.
SpaceX is set to make its debut on the Nasdaq on June 12, 2023, under the ticker symbol SPCX, with an initial public offering (IPO) that aims to raise $75 billion by issuing 555.6 million shares at a price of $135 each. This IPO is projected to surpass the previous record set by Saudi Aramco in 2019, which raised $29.4 billion. If underwriters exercise their option to purchase additional shares, the total funds raised could reach approximately $86 billion. With this valuation, CEO Elon Musk is on track to become the world's first trillionaire, thanks to his significant stake in Tesla and other assets. In other news, Alibaba announced a leadership change at DingTalk, appointing 1992-born tech entrepreneur Chen Yusen as the new CEO, making him the youngest division head at Alibaba. Meanwhile, former Microsoft co-founder Bill Gates testified before Congress on June 10, addressing his past relationship with Jeffrey Epstein and denying any involvement in illegal activities. OpenAI is reportedly considering a significant price reduction for its products to compete with rival Anthropic, while the European Central Bank raised interest rates by 25 basis points in response to rising inflation pressures. Additionally, the market for World Cup betting has surged, with transaction volumes exceeding $2 billion, indicating a potential record-breaking event.
NVIDIA Stockholder Meeting Set for June 24; Individuals Can Participate Online
NVIDIA has announced that its 2026 Annual Meeting of Stockholders will be conducted online on June 24, 2026, at 9 a.m. PT. The virtual meeting will be accessible to shareholders via the dedicated website, https://www.virtualshareholdermeeting.com/NVDA2026. This decision reflects the company's commitment to providing a convenient platform for stockholders to engage with corporate governance and participate in discussions regarding the company's future.
Krypton Evening News: Token prices drop to a few dollars; OpenAI may significantly reduce product prices; discounted train tickets for
Christian Stein has been appointed as the new CEO of Renault Group Spain, effective July 1, succeeding Josep María Recasens, who is leaving the company for new career opportunities. Stein will also continue in his role as Chief Communications Officer and report to Renault Group CEO François Provost. In a significant shift, General Motors is considering abandoning the use of lithium iron phosphate (LFP) batteries for electric vehicles, despite plans to produce them by the end of 2027 at a joint factory in Tennessee. This decision comes as the company reassesses its battery technology strategy amidst a competitive market. Global prediction markets Polymarket and Kalshi have reported that contracts for the upcoming World Cup champion have surpassed $2 billion, potentially setting a new record for single-event prediction market transactions. In the tech sector, OpenAI is contemplating substantial price reductions for its products to compete with rival Anthropic, as rising costs for AI services have become a concern for executives. Meanwhile, J&T Express has responded to an investigation by China's State Post Bureau, emphasizing its commitment to cooperate fully and improve safety management practices in light of the inquiry. AliExpress, Alibaba's cross-border e-commerce platform, has launched official local delivery services in five countries, including the U.S. and Spain, aiming to enhance logistics efficiency for merchants. In product news, Insta360 has unveiled the Luna Ultra, the world's first 8K dual-camera gimbal, which sold out shortly after its launch on June 10. Lastly, Neura Robotics, a German robotics firm, has secured $1.4 billion in funding to accelerate its development of a leading physical AI platform, with backing from major investors like Amazon and NVIDIA.
German robotics firm Neura Robotics secures $1.4 billion in funding with support from Amazon and Nvidia.
On June 10, Neura Robotics, a German robotics company, announced the successful completion of a record-breaking Series C funding round, which could reach up to $1.4 billion. This significant investment aims to accelerate the development of a leading global platform in physical artificial intelligence. The funding round received backing from notable investors, including Amazon, NVIDIA, and the European Investment Bank, highlighting strong confidence in the company's vision and potential in the robotics sector.
"BioGeometry" secures hundreds of millions in strategic funding to create a "microscopic world model" in life sciences.
AI-native biotechnology company BaiAo Geometry has successfully secured several hundred million yuan in strategic financing, with investments led by the Shanghai Biomedical Innovation Transformation Fund, Guoke Investment, Dacheng Wisdom, and Xinglian Capital, alongside follow-on investments from GaoRong Capital and the Index AI Industry Innovation Fund. The funds will primarily support the ongoing development of their life sciences micro-world model, GeoFlow, and the advancement of their proprietary drug pipeline. Artificial intelligence is rapidly evolving along two main trajectories: digital AI, represented by large language and multimodal models, and physical AI, exemplified by autonomous vehicles and humanoid robots. Life AI is emerging as a promising frontier, a sentiment echoed by leading global investors and scientists. BaiAo Geometry's GeoFlow model, launched in 2024, aims to understand and design molecular interactions at an atomic level, enabling the creation of novel molecules that have never existed in nature. The company has iterated GeoFlow multiple times, achieving significant advancements in protein structure prediction and de novo design capabilities. By applying Test-Time Scaling technology, BaiAo Geometry enhances the success rate of protein designs without the need for extensive retraining. This innovation allows for the rapid generation and optimization of high-affinity binding molecules, significantly reducing the time and cost associated with traditional drug discovery processes. BaiAo Geometry has established over 20 business development collaborations with domestic and international pharmaceutical companies, focusing on high-specificity antibody design and vaccine development. The company is currently working on the next iteration of GeoFlow, which aims to expand modeling from individual molecules to entire molecular systems, further revolutionizing drug development in the biotechnology sector.
Post-00s entrepreneurs take center stage at 36Kr offline event: "Go big or go home."
On the evening of May 29, 36Kr and Light Source Capital hosted the second offline gathering titled "TokenAge" in Beijing, focusing on the impact of AI on productivity rather than just token consumption metrics. The event featured four prominent guests from the AI startup scene: Huang Yi, founder of RoboParty, which specializes in open-source bipedal robots; Zheng Jiaxi, founder of Eup Robotics, developing underwater inspection robots for offshore energy platforms; Jin Ruofan, founder of Science Intelligence, exploring AI applications in scientific research; and Huang Xinxin, head of Light Source Capital's 3i Innovation Incubator. The gathering highlighted the challenges faced by young entrepreneurs in the AI sector, emphasizing the need for rapid product delivery and clear commercialization strategies. Attendees, including entrepreneurs and investors, engaged in discussions about how companies should reorganize in the AI era and why AI has yet to significantly enhance organizational efficiency. Light Source Capital's CEO, Zheng Xuanle, noted that AI represents a fundamental shift in productivity, akin to electricity, and is driving innovation across various sectors. The event underscored the importance of understanding AI's potential and the necessity for organizations to adapt to its rapid evolution. As AI becomes increasingly integrated into business processes, the focus will shift from merely adopting technology to fostering a culture of innovation and strategic thinking among teams. The evening concluded with each guest setting ambitious goals for the coming year, reflecting their commitment to advancing their respective fields within the AI landscape.
36Kr Exclusive: Four Key Propositions for ByteDance's AI by 2026
ByteDance is setting ambitious goals for its AI initiatives in 2026, focusing on four key areas. The company aims to enhance world model training, targeting performance levels comparable to Google's leading model, Genie 3, by the end of the year. Additionally, ByteDance plans to maintain its leadership in video models while exploring new avenues like dynamic generation. The company is also committed to strengthening its coding capabilities, emphasizing the importance of data feedback and evaluation to improve agent performance, particularly in office applications. Despite recent advancements, including the launch of Seed 2.0 and Seedance 2.0, ByteDance faces challenges in the world model arena, having entered the field later than competitors. The company established a research group in 2025 to explore visual-language-action models and has since set a clear goal for world model development. However, internal assessments indicate that performance still lags behind global standards by approximately 10%. In parallel, ByteDance is accelerating the commercialization of its Doubao platform, which has seen a surge in daily active users, reaching 200 million. The company plans to introduce paid features and enhance its offerings for professional users, particularly in sectors like finance and law. Doubao's strategy includes differentiating itself in the crowded AI tools market and expanding its presence internationally, with a focus on small language markets. As ByteDance navigates these challenges, it aims to leverage its engineering expertise and data resources to emerge as a leader in the evolving AI landscape.
Shenzhen's Stardust Intelligence secures over 1 billion in Series B funding, valuation exceeds 10 billion.
Astribot, a Shenzhen-based AI robotics company, has successfully completed a Series B funding round, raising over 1 billion yuan within three months. The financing was backed by various investors, including established firms like Liangxi Kechuang and several returning shareholders. With a valuation surpassing 10 billion yuan, Astribot joins the ranks of Shenzhen's unicorns, previously attracting investments from major players like Tencent and Alibaba. Founded in 2022 by CEO Lai Jie, who has over 17 years of experience in AI and robotics, Astribot focuses on creating robots that can think and operate like humans. The company has developed a comprehensive self-research system integrating AI models with a unique operating system tailored for their robotic bodies. Their latest product, the T1 model, is designed for various tasks, including cooking and industrial applications, and is priced starting at 89,900 yuan. Astribot's innovative approach emphasizes a dual-system framework, allowing robots to respond quickly to immediate tasks while also planning for more complex operations. This model, known as DuoCore, enhances the robots' adaptability in real-world environments. Additionally, Astribot is the first company globally to mass-produce rope-driven AI robots, which mimic human muscle movements, offering improved performance and safety for close interactions. As the company continues to expand its product offerings, it is establishing a strong presence in sectors such as research, commercial services, and entertainment, demonstrating its capability for large-scale deliveries.
Former Meituan delivery tech chief starts a venture for an "restaurant world model" in the era of embodied intelligence.
AtomBite.AI, a company specializing in embodied intelligence, has secured a multi-million dollar seed funding round led by InnoTech Venture Capital, with participation from the Tsinghua Alumni Seed Fund and notable individual investors. This funding will primarily support the development of embodied world models for the restaurant industry and the implementation of core products. The company's founding team, which includes Dr. Wang Dong, a former technical lead at Meituan's food delivery division, aims to address inefficiencies in restaurant kitchens, particularly in the packaging and delivery processes that still heavily rely on manual labor. As global food delivery orders continue to rise, AtomBite.AI identifies the kitchen as a promising application area for embodied intelligence, given its universal demand and clear return on investment for businesses. The team plans to create a "World Action Model" tailored for the restaurant sector, emphasizing the integration of visual and tactile feedback to enhance robotic operations. Their approach focuses on developing a system that learns from real-world interactions rather than relying solely on generalized models. Currently, AtomBite.AI is targeting the packaging and transfer stages of food delivery, which are prone to errors and have quantifiable value. The company anticipates deploying its packaging model in commercial kitchens by 2026, with plans to expand into more complex kitchen operations and broader service industry applications in the future.
Doubao to start charging in late June; SK Hynix factory fire; Yushu Technology IPO approved, Wang Xing's wealth may exceed
On June 1, a fire broke out at SK Hynix's factory in Cheongju, South Korea, leading to a harmful gas leak of fluorine. The incident occurred around 10:32 AM local time in a gas chamber connecting two production areas. The fire was quickly contained by the automatic sprinkler system, but seven individuals were hospitalized due to exposure to the toxic gas. In response, SK Hynix evacuated approximately 3,600 employees from the facility. By 1:38 PM, the company had cleared the remaining gas and confirmed the site was safe, allowing operations to resume without interruption. An investigation into the cause of the fire is currently underway.
Ardian to invest €5 billion in digital infrastructure in France; Kuaishou creates 189 new jobs, 15 from AI; China allocates
On June 2, 2023, in Beijing, Gaode Map and the Singapore Tourism Board signed a strategic cooperation memorandum, marking the launch of the first collaborative tourism ranking list between a Chinese company and an overseas national tourism board. This initiative will feature the Singapore Street Ranking, utilizing Gaode's advanced aerial street view technology to provide a 360-degree perspective of local attractions, hotels, neighborhoods, and restaurants. The goal is to enhance the travel experience by allowing visitors to assess their destinations before arrival. In a separate development, the Jiangxi National Rare Earth Technology Innovation Center was established with a registered capital of 1.25 billion yuan, focusing on mineral resource exploration and scientific research. Additionally, WeRide and Uber announced plans to introduce Spain's first commercial Robotaxi service in Madrid, expanding WeRide's presence to its twelfth global city. The initiative aims to deploy hundreds of Robotaxis in the city center as operational benchmarks are met. In France, Ardian, a private equity firm, revealed a partnership with Verne to invest up to 5 billion euros in developing a next-generation digital infrastructure park in the Île-de-France region, with a target capacity of 500 megawatts by 2030. Other notable news includes a collaboration between Google and Telstra to build a fiber and submarine cable network in Australia, updates on the recovery timeline for Blue Origin's launch facilities following a recent rocket explosion, and a reduction in fuel surcharges for domestic flights in China starting June 5.
Strategy reveals sale of 32 BTC for $2.5 million.
MicroStrategy, now operating under the brand name Strategy, has sold 32 bitcoins for approximately $2.5 million, according to regulatory filings. The average selling price for the bitcoins was reported to be around $77,135 each. This move reflects the company's ongoing strategy in managing its cryptocurrency assets.
OpenAI announces entry into robotics, focusing on developing assistive robots in the short term.
OpenAI CEO Sam Altman announced via social media that the company is seeking talented full-stack hardware, operations, systems, and machine learning engineers to collaborate on developing socially beneficial robots. He emphasized that artificial intelligence should assist humans in the real world. In the short term, OpenAI aims to create robots that can help technical workers build future infrastructure, while in the long term, the company envisions a future where everyone has a personal robot capable of fulfilling various needs. Altman revealed that OpenAI's world simulation research project has rapidly evolved over the past year into OpenAI Robotics, led by Aditya Ramesh. The project is making significant strides, grounded in the deep integration and collaborative design of robotics hardware and machine learning research.
Honeywell announces new brand identities for its automation and aerospace divisions.
On June 1, Honeywell announced the launch of new brand identities for its automation and aerospace divisions, which will be known as Honeywell Technologies and Honeywell Aerospace, respectively. This rebranding comes as the aerospace division prepares for its separation, with both Honeywell Technologies and Honeywell Aerospace set to become independent publicly traded companies by June 29, 2026. The move aims to enhance focus on their respective markets and drive growth in their specialized sectors.
China establishes a venture capital fund in Hangzhou with 1 billion yuan; Tianjin opens AI sensor industrial park; Zhejiang plans
ZTO Express has established a new logistics company, Guangzhou Zhongjing Logistics Co., Ltd., in Guangzhou with a registered capital of 500 million RMB. The company, wholly owned by ZTO Express, will engage in domestic freight transportation, equipment leasing, and computer system services. OpenAI has announced its entry into the robotics sector, focusing on developing assistive robots. CEO Sam Altman stated the company is looking for engineers to create robots that can aid in building future infrastructure. The initiative, which has evolved from a world simulation research project, aims to integrate hardware and machine learning for practical applications. Nan Er, Vice President of Zhejiang Chint Electric, has been recognized as a "2026 Zhejiang Youth Technology Entrepreneur" as part of a program to support technology entrepreneurs in the region. Foxconn and French company Bull will collaborate to manufacture AI and cloud infrastructure, with an initial investment of over 120 million euros. The project will utilize facilities in both France and the Czech Republic. On June 1, new regulations for online food delivery were implemented, with Taobao Flash collaborating with various local regulatory bodies to label the first batch of "no dine-in" merchants, enhancing compliance among 60,000 restaurants this year. Muyu Group has partnered with Alibaba Cloud to develop an AI model for the livestock industry, significantly improving the efficiency of health checks for pigs. In investment news, a new venture capital fund, Guoxin Qianjiang, has been established in Hangzhou with a capital of 1 billion RMB, while Zhi Mi has opened a financing window with a pre-IPO valuation of approximately 70 billion RMB. In product developments, a new automotive brand resulting from a collaboration between Sairus and ByteDance is set to launch a hybrid vehicle this year, while Sharpa has introduced a humanoid robot equipped with advanced tactile capabilities in partnership with NVIDIA. Lastly, the Tianjin AI Sensor Industrial Park has officially opened, with ten companies signing contracts, and Shanghai is focusing on advancing core software technologies as part of its development plan. Zhejiang Province is also seeking to implement the "Spark Plan" to accelerate the application of quantum technology products.
Bodeng Intelligent announces completion of hundreds of millions in Series A+ and A++ funding.
Bodeng Intelligent has announced the successful completion of several hundred million yuan in Series A+ and A++ financing, with participation from prominent investors including Dinghui Baifu, Qingxin Capital, Luxin Venture Capital, and Deep Industry Investment. This funding comes as the company positions itself as a key player in the Physical AI era, focusing on core areas such as embodied intelligence, large models, and autonomous driving. Bodeng Intelligent aims to develop a robust ecosystem comprising a real-world scenario network, an automated data engine, and a reality validation system. The latest financing round will facilitate upgrades to its core technology platform, the establishment of a global real-world training network, and the recruitment of top talent, thereby accelerating the implementation of its strategy to "Train at Scale, Validate in Reality."
Robot solution provider serving Foxconn raises angel funding after six months of over 20 million revenue.
Shenzhen-based Chengwu Robotics has successfully completed its angel round of financing, backed by Taiwan's leading industrial automation and intelligent robotics firm, Chuan Technology, with Huajun Capital serving as the exclusive financial advisor. Founded in 2025, Chengwu Robotics focuses on the development of embodied intelligence technologies and product solutions for industrial applications, leveraging its integrated capabilities in hardware and software development, data collection, model training, and scene deployment. The company, led by founder Huang Jinlong, who has over a decade of experience in robotics R&D, aims to address the customization needs of non-standard industrial scenarios. Since its inception, Chengwu has delivered over ten industrial projects, generating over 20 million yuan in revenue by 2025 and serving major manufacturers, including Foxconn. Chengwu Robotics is also advancing its model development, with a focus on the Vision-Language-Action (VLA) model, which aims to enhance 3D perception and operational precision in complex environments. To address data collection challenges, the company has developed its own Egocentric-UMI data collection device and Bybot-TeleOp remote operation system, significantly reducing training and deployment times. The company is simultaneously developing a prototype upper-body robot equipped with advanced components to support its model training and industrial applications. Chengwu Robotics emphasizes its comprehensive capabilities and real-world delivery experience, positioning itself to create commercially viable solutions that meet client needs in various industrial contexts.
OPPO launches Reno16 series, featuring "3D floating sphere + live stickers" to set new smartphone trends.
On May 25, 2026, OPPO held the "Reno Land Fantasy Night" launch event, unveiling a range of new products including the OPPO Reno16 smartphone series, OPPO Pad 6 tablet, OPPO Pad Air5 learning tablet, OPPO Enco Air5s noise-canceling earbuds, and the OPPO Bubble selfie screen. The event focused on meeting the diverse needs of young users in areas such as learning, creation, socializing, live streaming, and gaming, emphasizing stylish aesthetics, innovative imaging technology, AI experiences, and seamless cross-device collaboration. The Reno16 series features a design inspired by the "Dream Core Planet" aesthetic, utilizing a pioneering 3D floating technology for a striking visual effect. The series includes advanced camera systems with a 200-megapixel main camera and enhanced imaging algorithms for realistic portrait experiences. Additionally, the Reno16 Pro is tailored for live streaming, equipped with stabilization technology and a powerful battery for extended use. Alongside the smartphones, OPPO introduced the Pad 6 tablet, designed for students with features like AI-assisted note-taking and seamless connectivity with OPPO smartphones. The Enco Air5s earbuds offer lightweight design and advanced noise-canceling capabilities, making them ideal for immersive learning experiences. To support students, OPPO announced exclusive purchase subsidies, with the Reno16 series and Pad 6 set to officially launch on May 29, 2026, available through various online and offline channels.
OpenClaw + UNIHIKER K10: Natural Language Hardware Programming in Minutes
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AGRICULTURAL ROBOTICS | Harvesting Robots: $6.9B Market
Harvesting robots hit $2.24B in 2024 and are targeting a $50B labor market at less than 5% penetration. Deep-dive: market data, 14 companies, economics, and 2030 outlook.
