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Chinese AI Startup Zhipu AI Secures $69 Million in State-Backed Funding Amid US Restrictions

Key Points Zhipu AI secured 500 million yuan from the state-owned Huafa Group, following a 1 billion yuan funding round earlier this month. Zhipu AI, founded in 2019, has received investments from Tencent, Meituan, and Xiaomi. The company was valued at 20 billion yuan ($2.76 billion) in July 2024. In January, the U.S. Commerce Department added Zhipu AI to its export control list, restricting access to U.S. components. Chinese artificial intelligence startup Zhipu AI has received 500 million yuan ($69.04...

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Trump Prioritizes Tariffs Over Market Stability, Signals Long-Term Trade Strategy

Key Points Trump prioritizes tariffs over market stability. New tariffs include a 20% blanket duty on Chinese imports and 25% on exports from Mexico and Canada. Business leaders, including Ford’s CEO, warned that tariffs could harm key industries. The White House frames market turmoil as part of an economic "transition" for long-term benefits. Despite market declines, Trump urges investors to "buy the dip," showing confidence...

Celestial AI Raises $250 Million to Advance AI Chip Connectivity

Key Points Celestial AI secured $250 million in funding, bringing its total to $515 million. The company is using photonics to enhance AI chip-to-memory connectivity. Nvidia currently leads in memory bandwidth with NVLink and NVSwitch. Celestial AI’s “photonic fabric” aims to improve speed, space efficiency, and energy consumption. The latest funding round was led by Fidelity and included major investors like BlackRock, Maverick Capital, and...

Virgin Group Plans £700 Million Investment to Launch Cross-Channel Rail Services

Key Points Virgin Group plans to raise 700 million pounds to fund new cross-channel rail services connecting London with Paris and Brussels. The funding strategy includes 300 million pounds in equity and 400 million pounds in debt. Virgin intends to be a cornerstone investor in the project. The proposed service aims to directly compete with Eurostar’s 30-year-old network, offering high-frequency journeys. The initiative is expected...