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Cambricon shares surve fourfold; Insider closed $32 million Series C round

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Good morning, What a week! And it's only Tuesday! Global news coverage on Sunday and Monday of China
 
July 21 · Issue #276 · View online
Asia AI News
Good morning,
What a week! And it’s only Tuesday!
Global news coverage on Sunday and Monday of China’s UK ambassador Liu Xiaoming denying the existence off ‘concentration camps’ in Xinjiang in the face of footage of handcuffed and blindfolded Uighurs.
Meanwhile, yesterday Chinese AI chipmaker Cambricon Technologies surged more than fourfold in its IPO, making it the seventh-largest company on Shanghai’s STAR Market. This following last week’s listing of China’s biggest chipmaker SMIC on the Shanghai Stock Exchange last week, which registered as the largest IPO mainland China has seen in a decade.
The listings of SMIC and Cambricon are obviously closely in sync with China’s ambitions of having a self-sufficient technology sector, that isn’t at risk due to U.S. policy on semiconductor exports. In other circumstances, the achievements of SMIC and Cambricon would be widely celebrated. However, against the backdrop of human rights allegations, Huawei security concerns and the passing of the Hong Kong national security law, many are going to view the success of the two listings through a political lens.
Stay safe and have a good day!
/Carrington

Startup News
Chinese AI chip maker Cambricon Technologies soars 350 per cent in Shanghai Chinese AI chip maker Cambricon Technologies soars 350 per cent in Shanghai
Singapore's surgical robotic firm NDR Medical closes SGD$8m in Series A funding round
Insider closes $32 million Series C
Smart Cities
Taxis trialled as smart city sensors in China
Autonomous Vehicles
How fast is China’s demand for autonomous driving technology growing?
Robotics
Epidemic brings more robots into Chinese restaurants
Finance
China hedge fund using AI to invest eyes $1 billion in assets
Geopolitics
UK's Huawei ban opens new front in US-China trade war UK's Huawei ban opens new front in US-China trade war
China foretells 'devastating consequences' for UK over Huawei ban; cites $20 Bn investment
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Read Monday’s Asia AI News
After SMIC’s stellar debut, Chinese AI chip maker Cambricon Technologies soars 350 per cent in Shanghai | South China Morning Post
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