The Chinese Embassy in the United States announced that Chinese Ambassador to the US Xie Feng held a group discussion with senior executives of leading multinational corporations (MNCs) on Tuesday (2nd).

Senior representatives from Blackstone Inc. (BX.US), Google, Microsoft Corporation (MSFT.US), International Business Machines Corporation (IBM.US), Texas Instruments Incorporated (TXN.US), Honeywell International Inc. (HON.US), Bayer, Johnson & Johnson (JNJ.US), ConocoPhillips (COP.US), Chevron Corporation (CVX.US), Walt Disney Company (DIS.US) and Procter & Gamble Company (PG.US) attended the meeting.

Xie introduced the outcomes of the Beijing meeting between the Chinese and US presidents, noting that President Xi Jinping and US President Donald Trump agreed to position a "constructive and strategically stable China-US relationship" as the new framework for bilateral ties, providing strategic guidance for relations over the next three years and beyond.

He expressed hope that the business community would take proactive steps to implement the important consensus reached by the two heads of state, expand the list of cooperation areas, and achieve more practical results that benefit both countries and the world.
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Ray Dalio, founder of Bridgewater Associates, said the AI market is already showing signs of a bubble that will eventually burst.

All major technological revolutions create bubbles, as bubbles often burst when investments need to deliver returns, Dalio remarked.

He expressed concern about the profitability of AI companies, noting that when a bubble bursts, it is the moment when wealth is converted into cash.

Although AI is a very good technology, he said it is driving the market down a path toward a bubble collapse.
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SpaceX plans to offer about 555.6 million shares at USD135 per share, raising USD75 billion, a filing with the US Securities and Exchange Commission showed.

Underwriters have the option to purchase an additional 83.33 million shares at the IPO price, with a total value of USD11.2 billion.

Pricing at USD135 per share implies a company valuation of USD1.77 trillion, making it the seventh-largest company by market cap in the US and toppling Tesla, Inc. (TSLA.US), which has a market value of USD1.6 trillion.

After the IPO, SpaceX founder Elon Musk will hold more than 82% of the voting rights, as revealed by the filing. The company plans to officially list on June 12.
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Shares of Broadcom Inc. (AVGO.US) plunged nearly 14% in after-hours trading to USD413.45, as the market was disappointed by the company's AI chip revenue outlook. For its second fiscal quarter ended May 3, Broadcom reported revenue growing 48% YoY to USD22.187 billion, compared with analysts average estimate of USD22.1 billion. Non-GAAP diluted EPS increased to USD2.44, above the prior consensus of USD2.39.

In the previous quarter, Broadcom's AI semiconductor revenue ballooned 143% YoY to USD10.8 billion, ahead of the earlier average estimate of USD10.7 billion. The company said it expects AI semiconductor revenue of USD16 billion for the third fiscal quarter, below market expectations of USD17.2 billion. For the full year, AI semiconductor sales are projected to reach USD56 billion, lower than the previous average estimate of USD57.6 billion.

Broadcom has begun delivering chips to OpenAI and projected to commence production later this year. The company has signed a contract with OpenAI to deploy 1.3 gigawatts of capacity in 2027. In addition, it will deploy 3 gigawatts of computing capacity for Meta Platforms, Inc. (META.US) by the end of 2028, with the first 1 gigawatt scheduled for delivery starting in 2H27.
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Thanks to iterative upgrades in electrification technology by leading carmakers and the concentrated launch of several blockbuster new models, NEV wholesale volumes of multiple major carmakers in Mainland China hit record highs for the same period in May, highlighting the tangible results of domestic automakers' electrification transformation, the China Passenger Car Association (CPCA) said.

Carmakers including BYD COMPANY (01211.HK), CHERY AUTO (09973.HK), Tesla China, LEAPMOTOR (09863.HK), SAIC-GM-Wuling, NIO-SW (09866.HK), Arcfox, SAIC-GM, Dongfeng Nissan, GAC Toyota, and GAC Trumpchi, all recorded their best-ever NEV wholesale results for the month of May.

Among the top 10 passenger vehicle manufacturers in terms of NEV wholesale volume in mainland China in May, eight were listed carmakers. BYD COMPANY, GEELY AUTO (00175.HK), CHERY AUTO, Tesla and LEAPMOTOR ranked in the top five, with BYD COMPANY leading by a wide margin at 376,990 units, data showed.

Cui Dongshu, Secretary General of the CPCA, estimated that national passenger vehicle manufacturers NEV wholesale volume reached 1.36 million units in May, up 12% YoY and 11% MoM.
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Morgan Stanley published a report raising its revenue and earnings forecasts for Micron Technology, Inc. (MU.US) and Sandisk Corporation (SNDK.US), and sharply lifted their TPs. Micron's TP was raised from USD520 to USD1,050, while Sandisk's TP was increased from USD1,100 to USD1,750. Both are rated Overweight. Morgan Stanley said memory chip stocks performed strongly in 2025 and will continue to lead the market in 2026, yet it believes this strong run is not yet over.

Morgan Stanley noted, as highlighted in its global report today (3rd) and its Taiwan field study report earlier this week, that there is no quick fix to the memory shortage. This is expected to keep memory supply tight for 2-3 years (or longer). The shortage is most severe in DRAM, but NAND Flash is also affected. The market is beginning to recognize the implications for earnings sustainability, with Micron's consensus forward P/E expanding from 4x at end-March to 11x.
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Intel Corporation (INTC.US) CEO Lip-Bu Tan said yesterday (2nd) at Computex Taipei that agentic AI requires new architectures, and central processing units (CPUs) are crucial for reinforcement learning and orchestration, opining that demand is rising, but supply is constrained.

He stressed that Intel places great emphasis on supply to ensure it can meet customer demand and keep clients satisfied. Over the past four weeks, many CEOs have called him requesting more CPUs. He has asked his executives to assist in expediting efforts in hopes of catching up with customers' timelines.

He added that Intel has made notable progress in its foundry business and is in talks with many potential customers.

Regarding Intel's relationships with Taiwan Semiconductor Manufacturing Company Ltd. (TSM.US) and NVIDIA Corporation (NVDA.US), Tan said Intel does not view others as competitors but values collaboration. NVIDIA is a good friend of Intel and one of its largest shareholders, while Intel is a customer of TSMC, with many of its products relying on TSMC.
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HESAI-W (02525.HK) opened 4.42% higher today (3rd) and once peaked at HKD171.4. It last traded at HKD168.8, up 3.69%, with turnover of 697,600 shares, involving HKD118 million.

Goldman Sachs published a research report noting that during GTC Taipei at Computex in Taipei, NVIDIA Corporation (NVDA.US) announced the launch of the Isaac GROOT open-source general-purpose humanoid robot reference platform, which adopts the H2 humanoid chassis (i.e. robot body) from Unitree and the tactile five-finger dexterous hand from Sharpa Wave.

As a key supplier of LiDAR and actuator modules to Unitree and Sharpa, HESAI-W is expected to benefit from the future ecosystem development and mass production progress of NVIDIA, Unitree and Sharpa, with potential expansion to other customers.

Goldman Sachs said HESAI-W's current valuation is attractive. It set a 12-month TP of HKD273 for its H shares and USD35 for its US ADR, Hesai Group (HSAI.US), reiterating a Buy rating.
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SHANGHAI, June 3, 2026 /PRNewswire/ -- WuXi Biologics (2269.HK), a leading global Contract Research, Development, and Manufacturing Organization (CRDMO), today announced that it has been named to the CDP Supplier Engagement Assessment (SEA) A List for the second consecutive year. The recognition highlights the company's leadership in engaging suppliers on climate-related issues and reflects its strong performance in governance, target-setting, Scope 3 emissions disclosure, and value chain engagement. The company has also been recognized on CDP's Climate Change and Water Security A Lists, further demonstrating its strong performance in sustainability.

The CDP SEA A List represents the highest level of performance in corporate environmental transparency and supply chain climate action. In 2025, more than 23,000 companies, cities, states and regions disclosed environmental data through CDP.

WuXi Biologics actively engages with suppliers to address Scope 3 emissions through a structured approach, including risk assessments, audits, training, incentive programs, as well as Scope 3 data disclosure and target tracking, driving continuous improvement across the value chain and supporting strong supplier engagement performance.

The company's climate strategy is underpinned by Science Based Targets initiative (SBTi)-approved near-term and net-zero greenhouse gas (GHG) emissions reduction targets, including a commitment to achieve net-zero emissions across the value chain by 2050.

Dr. Chris Chen, CEO of WuXi Biologics and Chairman of its ESG Committee, commented, "We are honored to be named to CDP's Supplier Engagement Assessment A List for the second consecutive year. This achievement reflects our continued efforts to strengthen supplier collaboration and enhance value chain sustainability. As a global leader in Green CRDMO, we remain committed to working closely with all stakeholders to drive long-term sustainable growth."

Over the years, WuXi Biologics' consistent efforts to promote sustainable development have received notable recognition from leading global ESG rating agencies, including MSCI AAA Ratings; EcoVadis Platinum Medals; a listing in Dow Jones Best‑in‑Class World Index and Emerging Markets Index; the highest negligible-risk rating by Morningstar Sustainalytics, and designation as a Sustainalytics industry and regional ESG Leader; inclusion in the FTSE4Good Index Series; a "Prime" designation from ISS ESG Rating; and inclusion in the Hang Seng Corporate Sustainability Benchmark Index.

About WuXi Biologics

WuXi Biologics (stock code: 2269.HK) is a leading global Contract Research, Development and Manufacturing Organization (CRDMO) offering end-to-end solutions that enable partners to discover, develop and manufacture biologics – from concept to commercialization – for the benefit of patients worldwide*.

With over 13,000 employees in China, the United States, Ireland, Germany, and Singapore — including experts and scientists in biologics R&D and manufacturing, technology innovation, and operational excellence — WuXi Biologics leverages its technologies and expertise to deliver efficient, cost-effective, and scalable biologics solutions tailored to meet clients' needs. By embedding digital capability and infrastructure across the full biopharmaceutical value chain, the company turns data, computation, and prediction into transparent client experience, faster development, intelligent operations, and more efficient manufacturing. As of April 30, 2026, WuXi Biologics is supporting 982 integrated client projects, including 78 in Phase III and 25 in commercial manufacturing, with complex modalities representing more than half of the entire project portfolio.

WuXi Biologics regards sustainability as the cornerstone of long-term business growth. The company continuously drives technology innovations to offer advanced end-to-end Green CRDMO solutions for its global partners while demonstrating exemplary Environmental, Social and Governance (ESG) practices. Committed to creating shared value, it collaborates with all stakeholders to foster positive social and environmental impacts and promote responsible practices, that empower the entire value chain.

For more information about WuXi Biologics, please visit: www.wuxibiologics.com.
*The winner of the "2026 Biologics CDMO of the Year" (Large CDMOs)

*The winner of the "2026 Best Contract Development & Manufacturing Organization Award"(ABEA)

Contacts

ESG
[email protected]

Media
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NVIDIA Corporation (NVDA.US) and Unitree Robotics jointly unveiled the new-generation humanoid robot reference design, H2 Plus.

Huang Jiawei, Marketing Director of Unitree Robotics, revealed that the product is scheduled for an official launch in 2H26. Its core feature is the integration of NVIDIA's high-performance computing platform, aimed at creating a more powerful "intelligent brain" for humanoid robots.

Huang added that Unitree Robotics and NVIDIA jointly introduced H2 Plus on June 1, with the most significant upgrade being its enhanced computing performance.
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