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☆ SoftBank seen returning to loss in fourth quarter despite strength in tech stocks
▼ + stars: | 2024-05-12 | by ( ) www.cnbc.com time to read: +2 min

Japanese technology investor SoftBank Group is expected to slip back into the red when it reports earnings on Monday despite technology stocks including Arm Holdings its core asset, performing well over the quarter. Analysts and investors are also eagerly awaiting clues about new growth investments as SoftBank has ample liquidity and can monetize its huge holding in Arm. The initial public offering (IPO) market remained subdued, leaving analysts uncertain of the monetization prospects for SoftBank's portfolio of unlisted tech startups. But while the Arm stake may make possible an investment on this scale, its dominance within SoftBank's portfolio poses a risk should market sentiment turn, hitting SoftBank's value and fundraising capacity. Morningstar analyst Javier Correonero estimates a fair value for Arm of $57 per share, compared to its recent trading range around $100 per share.

Persons: SoftBank, Arm's, DiDi, Shogo Tono, Javier Correonero Organizations: SoftBank, Arm Holdings, Grab Holdings, LSEG, Nomura Securities, Nvidia, Morningstar Locations: Britain, Coupang

Two of three speakers at the engineering school’s ceremony disappeared abruptly from the school’s graduation website. A self-described “fourth-generation Trojan” from Pasadena, Ms. Blain, who has spent much of her life imagining her own U.S.C. Pro-Palestinian students tried to set up an encampment on campus days later, and university officials summoned the Los Angeles police. At the engineering school, where Ms. Tabassum, the valedictorian, will be graduating, professors were trying to resurrect her chance to speak. A university committee had picked Ms. Tabassum, who is Muslim and of South Asian ancestry, from about 100 undergraduates with near 4.0 grade point averages.

Persons: Kevin Feige, Liza Colón, Zayas, Tina, “, ”, Jaren Lewison, they’re, Ella Blain, Blain, Linda Thomas, Greenfield, Biden, U.S.C, Asna Tabassum, Jon M, Chu, Marcia McNutt, Blain’s, Annette Ricchiazzi, Carol Folt, Missives, Sean Penn, —, Goodwin Liu, Merrill Balassone, Phil Chan, Pam Zhang, Safiya Umoja Noble, Lewison, Jane Coaston, Tabassum, Yannis C, Folt, Kevin Crawford Knight, Didi Global, Zohreh, Khademi, Knight, ” Hossein Hashemi, Hashemi, Dustin Jeffords Organizations: University of Southern, Angeles, Marvel Studios, Hollywood, Netflix, Dornsife, of Letters, Arts and Sciences, Los Angeles Memorial, School of Dramatic Arts, University of Michigan, Ann Arbor , Indiana University, Bloomington, Northeastern University, United Nations, University, Vermont’s, Columbia University, National Academy of Sciences, Los Angeles police, Community, Dodger, California Supreme, MacArthur, Rossier School, Education, Jewish, commencements, New York Times, Microsoft, Media, “ Locations: University of Southern California, Los Angeles, Coast, Aude, Pasadena, Gaza, Ann Arbor ,, Boston, U.S, Israel, U.S.C, California, San Bernardino County

☆ A millennial couple moved from Arizona to China to teach at an international school. The cost of living is much cheaper, though the language barrier is challenging.
▼ + stars: | 2024-05-08 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

His wife, a teacher, had been to China before and realized she could get a visa to teach at an international school there and bring Scott along. The school that hired her also hired Scott, and the two put their lives in the US on hold and relocated to China. His wife got a job as a teacher at an international school, and the two moved to China on her visa. Related storiesBefore moving to China, the couple paid $1,900 a month in rent in Arizona. He said their internet bill was $130 a month, their cellphone bill was $70, and their electricity bill was $100.

Persons: Scott Vleeschouwer, weren't, Scott, Vleeschouwer, it's, they've, China Vleeschouwer, DiDi —, He's, they're Organizations: Service, China's, Business Locations: China, Shenzhen, Maryland, Roanoke , Virginia, San Antonio, Phoenix, Mexico, Beijing, Shanghai, India, Hong Kong, Philippines, Indonesia, Kenya, Southeast Asia, Arizona, They've

☆ Tesla slashes price of its premium driver assistance option by half in U.S.
▼ + stars: | 2024-04-12 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +4 min

Tesla said on Friday that it's cutting the subscription price of its premium driver assistance system for customers in the U.S. Marketed as its Full Self-Driving, or FSD, package, Tesla customers will now pay $99 per month, down from $199 previously. "The FSD price will continue to rise as the software gets closer to full self-driving capability with regulatory approval," Musk wrote on Twitter, now known as X, on May 18, 2020. Despite its brand name, the company's FSD option today doesn't make Tesla vehicles autonomous or functional as robotaxis. Tesla didn't respond to a request for more information, including whether the price cut announced Friday is permanent or temporary.

Persons: Tesla, Elon Musk, Musk, Uber, Bill Gates, Amazon's, FSD, didn't Organizations: Twitter, California Department of Motor Vehicles, Companies, Tesla Locations: U.S, China, Guangzhou, North America

☆ A robotaxi isn't enough to fix Tesla's problems, analyst says. Here's what Elon Musk needs to do.
▼ + stars: | 2024-04-12 | by ( Ana Altchek | ) www.businessinsider.com time to read: +5 min

Related storiesTesla's Full Self-Driving software beta, or FSD, is currently classified as "level two" in an industry standard that goes up to six. Musk has also talked up the value of a more affordable TeslaMusk has also touted the importance of a cheaper Tesla model for years. "This has always been our dream, from the beginning of the company," Musk said during Tesla's "Battery Day" presentation in 2020. As the lack of low-cost options turns some customers off from making the switch to EV vehicles, Tesla has experienced decreased demand. With the ongoing issues surrounding Tesla's margins and demand, the analysts said Musk needs to "regain confidence in the eyes of the Street."

Persons: —, Elon Musk, Tesla, Musk, It's, Apple, Didi, Martin Eberhard, Eberhard Organizations: Service, Business, Reuters, Teslas, Baidu, Tesla, Tesla's Locations: Los Angeles, Bay, California, China

☆ Elon Musk says Tesla will unveil its robotaxi on Aug. 8; shares pop
▼ + stars: | 2024-04-05 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

Elon Musk, Chief Executive Officer of Tesla and owner of X, formerly known as Twitter, attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center in Paris, France, June 16, 2023. Musk shared the reveal date on Friday after Reuters reported that plans for Tesla's highly anticipated low-cost car model had been scrapped. In 2015, Elon Musk told shareholders that Tesla's cars would achieve "full autonomy" within three years. Tesla still has yet to deliver a robotaxi, autonomous vehicle or technology that can turn its cars into "level 3" automated vehicles. On Friday, Apple shuttered its self-driving unit and laid off about 600 people on Friday who had been associated with the project.

Persons: Elon Musk, Porte, Tesla, Musk, FSD, Waymo, Uber, Cruise's, Leswing Organizations: Twitter, Viva Technology, Porte de, Reuters, Tesla, Companies, Wayve, Apple, Cruise Locations: Paris, France, Phoenix, San Francisco, Los Angeles, Austin , Texas, Arizona, China, Guangzhou, U.S

☆ Nio plans to launch its mass market EV brand in May
▼ + stars: | 2024-03-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — Chinese premium electric car company Nio said Thursday it plans to reveal its mass market brand in May. Executives confirmed the new brand will be named "Le Dao" in Chinese, and said the name is meant to reflect families — the target consumer segment — having a happy time together. Earlier this month Nio said its mass market brand would debut in the second quarter, with the first product launch in the third quarter and large-scale deliveries the following quarter. Another Chinese electric car startup called Xpeng said last summer it plans to develop a new mass market brand that will target the 150,000 yuan ($20,580) price range. The company said it would develop the brand through a strategic partnership with Didi.

Persons: Nio, Xpeng, Didi Organizations: Executives Locations: BEIJING

☆ Chinese ride-hailing company Didi Global must face U.S. investor lawsuit over IPO
▼ + stars: | 2024-03-15 | by ( ) www.cnbc.com time to read: +1 min

Didi Global, the Chinese ride-hailing company, must face a lawsuit in a U.S. court claiming it defrauded investors by concealing and disobeying a Chinese government order to postpone its 2021 initial public offering until it resolved cybersecurity and privacy concerns. Didi Global, the Chinese ride-hailing company, must face a lawsuit in a U.S. court claiming it defrauded investors by concealing and disobeying a Chinese government order to postpone its 2021 initial public offering until it resolved cybersecurity and privacy concerns. The offering valued all of Didi at about $67.5 billion. Lawyers for Didi did not immediately respond to requests for comment. The investors' lawyers did not immediately respond to similar requests.

Persons: Didi Global, District Judge Lewis Kaplan, Didi, Kaplan Organizations: District Locations: U.S, Manhattan, United States

☆ China's food delivery gig workers are driving a $208B business, but couriers have it as bad as factory workers
▼ + stars: | 2024-03-03 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. However, the laborers behind the surging industry face conditions similar to those in the country's factories, facing low wages, long hours, and risky, repetitive work, according to numerous reports. Lu, a 19-year-old Meituan delivery driver in Guangzhou, told Nikkei Asia he earned just 7 yuan per delivery, less than a dollar. In the US, delivery drivers average $17.10 per hour, according to the Bureau of Labor Statistics. They "know it is impossible to deliver in the time expected by the platform," Tiziano Bonini from the University of Siena, who has been studying gig work in China, told the outlet.

Persons: —, Lu, Meituan, Didi Chuxing, SCMP Organizations: Service, Nikkei Asia, Business, Economic Research, Wired, Bureau of Labor Statistics, China Morning, Ministry of Human Resources, Social Security, University of Siena Locations: China, Guangzhou, Guanzhou, Shanghai

☆ Chinese tech startups quietly stop testing driverless cars on Californian roads
▼ + stars: | 2024-02-14 | by ( Tom Carter | ) www.businessinsider.com time to read: +5 min

Read previewChina’s leading ride-hailing firm has dropped out of a program that allows it to test self-driving vehicles on Californian public roads. Ride-hailing giant Didi has withdrawn from California’s autonomous vehicle testing program, according to the California Department of Motor Vehicles, as several rival Chinese firms also scaled back their self-driving operations in the state. Future Publishing/Getty imagesDidi is not the only Chinese company that appears to be scaling back autonomous vehicle testing in California, or pulling out entirely. That's a significant decline from the previous year, when Chinese autonomous vehicle companies conducted over 450,000 miles of testing. AdvertisementHe said that public backlash toward autonomous vehicles in cities like San Francisco had increased the risks of negative PR for companies testing the technology on public roads.

Persons: —, Didi, WeRide, AutoX —, That's, Sesame, Bob Latta, Cruise, that's, ” John Helveston, ” Helveston Organizations: Service, California Department of Motor Vehicles, Business, DMV, Baidu, Future Publishing, Pegasus Technology, NBC, Republican, Anadolu, Getty, George Washington University Locations: California, Shanghai, China, Jiaxing, San Francisco

In it, Wang films Yi and Chang going about their daily lives with bits of playfulness mixed in. “But now that we made this movie and it’s going to the Oscars, we do kind of feel like movie stars. “That’s kind of why we made this movie,” Wang says. “We’re going to the Oscars and I’m going with my grandmas,” Wang says, smiling. Says Wang: “They’re offer only.”___Follow AP Film Writer Jake Coyle at: http://twitter.com/jakecoyleAP___For more on this year’s Oscars, visit: https://apnews.com/hub/academy-awards

Persons: Sean Wang’s, Yi Yan Fuei, Chang Li Hua, Wang, Yi, Chang, Sean, “ Wài, Nǎi, ”, Wài, ” Chang, Zoom, Oscar, wasn’t Bradley Cooper's, Emma Stone’s, Sam Davis, that’d, ” Yi, ” Wang, “ It’s, they’ve, “, Miles, voicemails, “ We’re, Will Ang Lee, Says Wang, Jake Coyle Organizations: Bay Area, Academy, Disney, SXSW, Sundance Film, Sundance, U.S, Focus Locations: Bay, Los Angeles, Taiwan, Taiwanese, New York

☆ Uber's smooth operator Dara Khosrowshahi has done something Travis Kalanick never could: turn a profit
▼ + stars: | 2024-02-08 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

Read previewWho knows what kind of fate would have awaited Uber had Travis Kalanick decided not to relinquish his power in 2017. But instead of crashing, Uber has seemingly defied the odds thanks to Kalanick's successor, Dara Khosrowshahi. Net profit for the year hit $1.9 billion versus an enormous $9.1 billion loss in 2022, which had been inflated by revaluations of Uber's equity investments. Former Uber boss Travis Kalanick. But having been at the helm of online travel business company Expedia for 12 years before moving to Uber, Dara's success appears to come from his pedigree as an operator.

Persons: —, Uber, Travis Kalanick, Dara Khosrowshahi, Khosrowshashi, Eric Piermont, Khosrowshahi, SoftBank, Didi Chuxing Organizations: Service, Business, AFP Dara's Locations: Silicon, San Francisco, China

☆ China’s VC playbook is undergoing a sea change as U.S. IPO exits get tougher
▼ + stars: | 2024-02-08 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

That's far less than in the previous years — the share of U.S. dollars in total VC funds raised was around 15% for the years 2018 to 2021, the data showed. China investments, China exitsWashington and Beijing in 2022 resolved a long-standing audit dispute that reduced the risk of Chinese companies having to delist from U.S. stock exchanges. "With U.S. IPOs no longer being a viable exit strategy for China assets, investors should target local exits in their respective capital markets—in other words, China exits for China assets, and U.S. exits for overseas assets," Liao said. The 20 largest VC deals for China-headquartered companies in 2013 were predominantly in e-commerce and software services, according to PitchBook data. ... the venture capital scene has become even more state-concentrated and focused on government priorities.

Persons: China’s renminbi, Athit Perawongmetha, Kyle Stanford, China —, Liao Ming, Stocks, Liao, Didi, Beijing's, Camille Boullenois Organizations: Reuters, Reuters BEIJING — Venture, Liao Ming, U.S, Sequoia, Prospect, Capital, New York Stock Exchange Locations: U.S, Bangkok, Thailand, Reuters BEIJING, China, Sequoia, Washington, India, Japan, Greater China, Beijing, New York, Hong Kong, U.S . Washington

☆ Social media chatter helps draw 3 million tourists in 3 days to a frigid city in northern China
▼ + stars: | 2024-02-07 | by ( Yulia Jiang | ) www.cnbc.com time to read: +7 min

"He said he was happy to see so many southern visitors in Harbin." The plump, bundled-up appearance of Harbin tourists, many hailing from southern China, led to locals calling them "Little Southern Taters" — a nickname that was widely discussed on Chinese social media. Tourists new nickname for Harbin — the shorter "Rbin" — has swept across Chinese social media too, representing their newfound affection for the city. A larger plan to use social media to publicize Harbin and the larger province of Heilongjiang may be at play. He Jing, head of Heilongjiang Provincial Department of Culture and Tourism, told China Central Television that his department has been focusing on using social media "since the beginning of 2023."

Persons: Yuying Zhang, Zhang, Zhang Zhang, Zhang Tao, she's, —, Andrea Verdelli, Jing, Jiang, Yuetong Jiang Organizations: Harbin Cultural Broadcasting, Tourism Bureau, CNBC, Xinhua News Agency, Getty, Street, Bloomberg, Heilongjiang Provincial Department of Culture, China Central Television, Harbin Locations: Harbin, China, Shanghai, Heilongjiang, Tourism, Changchun, China's Jilin

WASHINGTON (AP) — The United States will resume a long-suspended Peace Corps program in the North Pacific island of Palau as the Biden administration continues moves to counter growing Chinese influence in the region. “Volunteers will live and work side-by-side with community partners to improve childhood literacy and math and science skills, along with teaching English as a foreign language,” Peace Corps director Carol Spahn said in a statement. Palau’s president, Surangel Whipps, said the return of the Peace Corps reflects the strong relationship between his nation and the United States. Peace Corps officials said they hope that with congressional funding the Palau reopening will be the first of several new programs it will restart in the Pacific. The Peace Corps, a creation of the John F. Kennedy administration, currently has Pacific island programs in Fiji, Samoa, Tonga and Vanuatu.

Persons: Biden, Carol Spahn, Surangel Whipps, “, ” Whipps, John F, Kennedy, Didi Tang Organizations: WASHINGTON, Peace Corps, “ Volunteers, Peace, Corps, Pacific, Marshall, Associated Press Locations: United States, North, Palau, Taiwan, Federated States, Micronesia, China, Marshall Islands, Beijing, U.S, Pacific, Fiji, Samoa, Tonga, Vanuatu

☆ Young Filmmaker Lives His ‘Fairy Tale’ at Sundance
▼ + stars: | 2024-02-02 | by ( Nicole Sperling | Joel Barhamand | ) www.nytimes.com time to read: 1 min

“I feel like I’m in a fairy tale,” Sean Wang said to the sold-out crowd gathered at the Ray Theater in Park City, Utah, last month for his Sundance Film Festival debut. Mr. Wang, a 29-year-old filmmaker, was dressed in a black suit and white Vans (a nod to his skateboarding roots). He grabbed his chest in a show of how fast his heart was beating as he introduced his film, “Didi.” It is a coming-of-age story about an angsty, insecure 13-year-old Taiwanese American boy trying to find his place in the world. “I’m just going to take a few seconds to take this all in,” he said before snapping a photograph of the audience. The warm crowd included Mr. Wang’s family and friends, the film’s cast and crew, and a handful of potential buyers who have the power to transform his station in life from aspiring filmmaker to bona fide Hollywood director.

Persons: ” Sean Wang, Wang, “ Didi, “ I’m, ”, Wang’s Organizations: Ray, Sundance Film, Hollywood Locations: Park City , Utah

☆ At Sundance, a reckoning with our digital selves
▼ + stars: | 2024-01-29 | by ( Thomas Page | ) edition.cnn.com time to read: +11 min

Harper that premiered at this month’s Sundance Film Festival, rapper Kemba enters an electronics store. Sundance is a broad church, but one throughline this year was a reckoning with our digital selves. Courtesy of Sundance InstituteIn the game Steen could be whatever he wanted to be, do whatever he wanted to do. The Sundance Film Festival concluded on January 28. Documentary Competition)“Sujo” (World Cinema Dramatic Competition)“A New Kind of Wilderness” (World Cinema Documentary Competition)Audience Favorite Awards“Daughters” (U.S.

Persons: J.M, Harper, Kemba, “, headspace Harper, Deus, J.M . Harper, Jazmin Jones, Olivia McKayla Ross, Mavis Beacon, Mandela, she’s, Jones, McKayla Ross Gen, we’re, Siri, knotty, L’espérance, feelgood, Thelma, Squibb, Beacon, Yeleen Cohen, ”, Kristin Stewart, Sam, Andy Zuchero, Stewart, Steven Yeun, Déja, Liam, “ Sebastian ”, Mikko Mäkelä, Ruaridh, Mollica, David Nellist, Sebastian, James Watson, “ Ibelin, Benjamin Ree, Mats Steen, Steen, Steen’s, Ibelin . Ibelin, he’d, Ree, Ibelin, Steen's avater Ibelin, It’s, ’ “, Steen –, Sujo, Dìdi ”, Ibelin ”, Kneecap Organizations: CNN, Sundance, Motorola, Sundance Institute, Americans, Iam, AIs, Netflix, Sundance Film Locations: “, Haiti, ”, New York, Norwegian

In repelling disinformation, Chinese and domestic, Taiwan offers an example to other democracies holding elections this year. And when the election results came out, they thought something was up,” said Eve Chiu, the editor-in-chief of Taiwan’s FactCheck Center, a nonprofit journalism organization. Taiwan's FactCheck Center debunked multiple videos of alleged voter fraud, including another one in which voting officials make a human error caught on camera. Taiwan has been able to effectively respond to Chinese disinformation in part because of how seriously the threat is perceived there, according to Kenton Thibaut, a senior resident fellow and expert on Chinese disinformation at the Atlantic Council’s Digital Forensic Research Lab. Others like, Taiwan FactCheck Center, are careful to not take government money so as to preserve their independence, said Chiu.

Persons: miscounting, “, ”, Eve Chiu, Ko Wen, Taiwan's FactCheck, Kenton Thibaut, Thibaut, Alexander Tah, Ray Yui, Yui, ” Yui, Charles Yeh, Chiu, Donald Trump, they’re, Jim Ludes, Ko, DoubleThink, GaChuDao, Wu, ___ Wu, Didi Tang Organizations: WASHINGTON, Taiwan’s, Taiwan People’s Party, Facebook, DoubleThink, Democratic Progressive Party, Taiwan can’t, Atlantic, Forensic Research, Associated Press, Taiwan FactCheck Center, Google, Media, ”, Pell Center for International Relations, Salve Regina University Locations: Taiwan’s, China, Taiwan, India, Mexico, Russia, America, Kenton, U.S, United States, Iran, Bangkok

“Porcelain War,” which follows last year’s “20 Days in Mariupol” as a Sundance documentary prize-winner that captures the war in Ukraine, was made by Brendan Bellomo and Slava Leontyev. “A New Kind of Wilderness,” about a Norwegian family living off the grid, won the jury award for world documentary. Sean Wang's “Dìdi,” a coming-of-age film about a 13-year-old Taiwanese American boy, took the audience award for U.S. dramatic film. The NEXT audience award winner was the Irish drama “Kneecap,” about a Belfast rap trio, co-starring Michael Fassbender. ___For more coverage of the 2024 Sundance Film Festival, visit https://apnews.com/hub/sundance-film-festival

Persons: ”, “, Alessandra Lacorazza, Lacorazza, Brendan Bellomo, Slava Leontyev, ” Natalie Rae, Angela Patton’s, Sean Wang's “, Dìdi ”, “ Ibelin, Benjamin Ree's, Mats Steen, Steen, Darren Aronofsky, David Schwimmer, Michael Fassbender, Jesse Eisenberg's, Kieran Culkin, Will Ferrell, Harper, Christopher Reeve, Eisenberg, Steven Soderbergh's Organizations: Sundance Film, Sundance, U.S, Netflix, NEXT, Searchlight Pictures, sundance Locations: Park City , Utah, Colombian American, Las Cruces , New Mexico, Mariupol, Ukraine, ”, Norwegian, Belfast, Harper Steele

China's powerful internet regulator is conducting a security review of Shein as the fast-fashion giant gears up for its highly anticipated U.S. initial public offering, CNBC has learned. The review focuses on how Shein handles information about its employees, partners and suppliers in the region, The Wall Street Journal reported. In 2021, Beijing launched a similar security review of ride-hailing giant Didi Global just days after it went public on the New York Stock Exchange and raised some $4.4 billion. Following Didi's downfall, all Chinese companies seeking an overseas IPO are now subject to a security review and government approval in China. If the reviews turn up information that doesn't sit well with Chinese regulators, they could squash the deal.

Persons: confidentially, Shein, Drew Bernstein, Didi Global, Didi, Bernstein, they're Organizations: CNBC, Cyberspace Administration, China, Street Journal, CAC, Washington , D.C, Marcum, New York Stock Exchange, CNBC PRO Locations: U.S, China, Washington ,, Beijing, Marcum Asia, Singapore

☆ Vietnamese companies eye the U.S. IPO market amid a lull in Chinese listings
▼ + stars: | 2023-12-06 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

While not strictly an IPO, the listing was soon followed by Vietnamese tech unicorn VNG's filing to list on the Nasdaq. As local companies grow, "they are outgrowing the ability of those markets to provide the capital that they need," said Drew Bernstein, co-chairman of accounting firm MarcumAsia. Since the fallout over Didi in the summer of 2021, regulation and a tepid U.S. IPO market have stalled most Chinese listing plans. She said given the success of Southeast Asian ride-hailing company Grab , more Vietnamese companies are starting to look beyond the domestic market to regional business. George Chan, global IPO leader at EY, expects "a lot" of companies from Southeast Asia will reach the IPO stage in the next 12 to 18 months, and might also consider the Hong Kong exchange.

Persons: Scott Mlyn, VinFast, Johan Annell, VNG, Drew Bernstein, It's, Bernstein, who'd he'd, Didi, Gary Dvorchak, Blueshirt, Nguyen Nguyen, Vu Van, ELSA, Van, George Chan Organizations: New York Auto Show, CNBC BEIJING, U.S, Spade, Nasdaq, ARC Group, China -, Renaissance Capital, Investor, CNBC, World Bank, Southeast Asia — Locations: Asia, U.S, Vietnam, Beijing, Cayman Islands, Malaysia, China, China - U.S, Thailand, Indonesia, Singapore, Southeast Asia, Hong Kong

☆ 2023 has been an AI feeding frenzy, here are the startups that attracted the most investment this year
▼ + stars: | 2023-12-04 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +7 min

Despite an overall slump in startup funding, 2023 saw a scramble among investors to pour money into AI and machine learning startups. And the company's star still appears to be rising, despite a messy leadership struggle that recently spilled into public view. Meanwhile OpenAI's perennial rival Anthropic attracted multi-billion dollar investments from both Google and Amazon to fund a competing AI model known as Claude. At the same time legacy companies from John Deere to accounting firm PwC played up their AI bona fides to capitalize on the hype. The list doesn't include startups who have not publicly released the amount of their funding rounds.

Persons: OpenAI, Anthropic, Claude, Databricks, John Deere, PwC, Fresh Organizations: Microsoft, Google, Alpha, Technology, Monogram, Sigma, Lambda, Helsing, Metals, Eagle Eye, Amelia, Asimov, Farmers Business, Harbinger, Prins, Silo, Mistral, Alto, AMP, Management Software, Universal, Coro, Kodiak Robotics, Aerospace, Defense, Sana, Corti, Kyte, Mitra, Tech, Boss Digital Technology, Halcyon, & $ Locations: PitchBook

☆ The cofounder of Allbirds has some advice for startups looking to IPO: make money ahead of going public
▼ + stars: | 2023-11-30 | by ( Melia Russell | ) www.businessinsider.com time to read: +5 min

Allbirds was one of the last startups to go public in 2021's IPO biltz. "You need to be a great company, you need to be profitable," says Allbirds cofounder Tim Brown. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Going public before turning profitable is a thing of the past, according to Allbirds cofounder and chief innovation officer Tim Brown. "You need to be a great company, you need to be profitable," he told Business Insider.

Persons: Allbirds, Tim Brown, —, Klaviyo, Lerer, confidentially, PwC, Spencer Platt, Champagne, Brown, Joanna Glasner, Didi, Rivian Organizations: Service, Time Magazine, Maveron, Tiger Global, Casper Locations: Instacart, Silicon, Americas, Allbirds, Ukraine

☆ China's Didi Global app disruption due to software failure, not cyberattack
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

A driver of Chinese ride-hailing service Didi drives with a phone showing a navigation map on Didi's app, in Beijing, China July 5, 2021. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsBEIJING, Nov 29 (Reuters) - China's Didi Global (92Sy.MU) ride-hailing app was disrupted earlier this week by an underlying system software failure and not a cyberattack, the company said in a statement on its social media account on Wednesday. The country's largest ride-hailing company faced widespread criticism this week after users in several cities were unable to book rides on Monday evening and complained about encountering glitches while using the app in the following days. Didi's China service recorded average daily transactions of 31.3 million in the third quarter, according to its latest results. Reporting by Beijing newsroom; Editing by Tom Hogue and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Didi, Tingshu Wang, Tom Hogue, Sonali Paul Organizations: REUTERS, Rights, Beijing, Thomson Locations: Beijing, China, Rights BEIJING

Shein has not determined the size of its offering or the valuation at IPO, the sources said. Shein, Goldman and JPMorgan declined to comment, while Morgan Stanley did not immediately respond to a request for comment. The most valuable China-founded enterprise to go public in the United States so far is ride-hailing giant Didi Global's (92Sy.MU) debut in 2021 at $68 billion valuation. In 2021, the comparable number was $300 billion when the IPO market was close to its peak. Fast fashion retailers have been gaining popularity in the United States, with Shein taking away market share from the likes of Gap (GPS.N) as shoppers look for fresher styles.

Persons: Goldman Sachs, JPMorgan Chase, Morgan Stanley, Shein, Goldman, Didi Global's, Jason Benowitz, David, Dee, Delgado, CSRC, Simon Property, Sumeet Singh, It's, Pritam Biswas, Ananya Mariam Rajesh, Kane Wu, Anirban Sen, Rishabh, Scott Murdoch, Miyoung Kim, Stephen Coates Organizations: Amazon, JPMorgan, Bloomberg, Arm Holdings, Roosevelt, REUTERS, China Securities Regulatory Commission, U.S, Reuters, Securities and Exchange Commission, SPARC Group, Forever, Brands, Simon, Aequitas Research, China's Shanghai Securities, Street, Thomson Locations: United States, China, U.S, Singapore, New York City, Shein, Bengaluru, Hong Kong, New York, Sydney

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