Aug. 25 at 1:35 AM
Shein is seeking to raise up to
$1.8 billion in its Hong Kong IPO, which could value the company at up to
$26.8 billion. It is set to debut Sept. 1 after failed attempts to list in the U.S. and London, with its valuation far below the nearly
$100 billion reached in 2022 amid slower growth and regulatory pressure.
Xiaomi launched its Xring O3 mobile processor, built on 3-nanometer technology, to boost AI performance and device efficiency. Produced by TSMC, the chip is designed to reduce Xiaomi’s reliance on Qualcomm and MediaTek and strengthen its position against Huawei.
Alibaba raised
$10.2 billion in Hong Kong, the city’s largest follow-on share sale on record, to fund its AI expansion. The company plans to invest more than
$56.5 billion over three years in chips, data centers and AI models, but its shares fell 8.5% on dilution and profitability concerns.
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