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| January 15 · Issue #352 · View online |
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Good morning, Here’s your Friday edition of Asia AI News! As mentioned earlier in the week, I will now be sending a newsletter twice weekly on Tuesdays and Fridays. Arguably, the most interesting news of the week is MEGVII’s renewed plans to list an Initial public offering, but this time on Shanghai’s Nasdaq-like STAR Market. The news was revealed in a notice posted this week by the China Securities Regulatory Commission. You will remember that the leading Chinese AI startup spent most of 2019 delaying its IPO, until finally getting approval from HKEX in January 2020. However, being added to the US ‘Entity List’ last year, the economic fallout from the US-China trade war and the impact of the coronavirus all took there toll and the unicorn’s growth had slowed significantly. The IPO continued to be differed during early 2020. Then, in April last year, Bloomberg reported that HKEX has accused the AI unicorn of breaching the listing rules by failing to make adequate disclosures of US sanction risks. Nothing has been heard since. Last year Reuters reported that MEGVII could raise between $500 million and $1 billion. However, more than 18 months after being blacklisted by the US and following the past year of Covid-19, it’s going to be interesting to see what the target is set for the IPO this time around. Scroll down for this news and more, including lots of Huawei news and why China loves Elon Musk! Stay safe and have a great weekend! /Carrington
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Chinese facial recognition unicorn Megvii prepares China IPO
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Chinese driverless car start-up WeRide raises $310 million in funding as competition heats up
#China #funding - Chinese driverless car start-up WeRide has raised $310 million in a new round of funding as it pushes to commercialise its technology. Yutong Group, a Chinese company that manufactures commercial vehicles including electric buses, lead the funding round. (CNBC)
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China's financial hub wants to be global AI powerhouse
#China #R&D - Shanghai is expected to host an artificial intelligence-backed super computing platform by next year as the city pushes to use the technology for industry empowerment and urban management. (China Daily)
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MakinaRocks, Hyundai Robotics sign MOU to 'advance AI-based industrial robot arm anomaly detection'
#SouthKorea #robotics - Enterprise AI solution provider, MakinaRocks has signed an MoU with Hyundai Robotics to cooperate on developing AI-based anomaly detection for industrial robot arms. (PR Newswire)
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Singaporean robot barista to serve coffee at Japan's train stations
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Ping An Uses Artificial Intelligence to Drive New ESG Investment Strategies
#China #investing - The Ping An Digital Economic Research Center (PADERC) has created four new investment strategies for environmental, social and corporate governance (ESG) that use artificial intelligence (AI) to balance excess investment returns and ESG investment targets. (PR Newswire)
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China’s Huawei Develops Smart Roads That Talk to Driverless Cars - Bloomberg
#China #transport - Telecom-equipment giant Huawei Technologies Co. is part of China’s first national project for intelligent and connected vehicles. The country wants to make traffic smoother and safer, while ensuring local champions like Huawei benefit from the enormous opportunity of supplying the infrastructure. (Bloomberg)
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China's Huawei backtracks after filing for patent to identify Uyghur faces
#China #Huawei #Xinjiang - Chinese technology company Huawei is backtracking on a patent application it filed in 2018 for a facial recognition system intended to identify Uyghurs from other Chinese ethnicities. (CNN)
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China demands Huawei exec's return after bullets were sent to her Vancouver home, says security chief
#Canada #China #US #Huawei - China’s consulate demanded the immediate return of Huawei Technologies executive Meng Wanzhou after “threatening letters” containing bullets were delivered to the home where she has been living in Vancouver under partial house arrest. (ABS-CBN)
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Elon Musk loves China, and China loves him back-for now
#China #Tesla - Last Feb. 10, as authorities in China ended work stoppages intended to halt the novel coronavirus, Tesla Inc.‘s Giga Shanghai was bustling. In its first week after resuming production, Tesla Shanghai made about 1,000 cars. By March it was up to 3,000 a week, a higher rate than before the shutdown. (NDTV)
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About Carrington Malin
Carrington Malin helps large organisations, digital brands and fast growing tech ventures with brand, communications and go-to-market strategies.
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