Tesla (TSLA.US) CEO Elon Musk said in a post that production of the Cybercab has commenced, Bloomberg reported.

Unveiled in 2024, the Cybercab is a BEV designed specifically for autonomous taxi (Robotaxi) services. The model is not equipped with a steering wheel or pedals, meaning that mass production will require specific exemptions from US regulators.

Musk stated that the business is unlikely to generate meaningful revenue until at least 2027.
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EOPTOLINK (300502.SZ) selected CITIC Securities and JP Morgan to advance its Hong Kong listing plan, with expected fundraising of approximately USD3 billion, Bloomberg reported, quoting people with the knowledge of the matter.

Over the past year, EOPTOLINK has seen its share price in Shenzhen proliferate, bringing its market cap to USD78 billion. The company focuses on the R&D, production and sale of various high-performance optical modules and optical components.

Buyers of optical modules include leading global technology companies such as Alphabet (GOOGL.US) and Amazon (AMZN.US), as data centers require optical modules to connect advanced chips within AI computing clusters.
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In 1Q26, smartphone shipments in China totaled around 69.01 million units, down 3.3% YoY, according to the latest quarterly report released by International Data Corporation (IDC).

Shored by Huawei and Apple phones, the overall market performance for the quarter was slightly above expectations. Huawei ranked first with shipments of 13.7 million units, accounting for a market share of 19.8%, while Apple's shipments reached 13.1 million units, representing a market share of 18.9%.
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PATEO (02889.HK) announced that it has entered into a series of in-depth partnerships with NVIDIA (NVDA.US) and a leading NEV OEM.

Spurred by the news, the stock price opened 14.86% higher today (24th). With gains once exceeding 23%, it peaked at HKD198.9. It last posted at HKD179.7, up 11.27%, with turnover of 648,200 shares, involving HKD122 million.

PATEO announced that the series of in-depth collaborations include the company receiving a designation notice for a new-generation intelligent vehicle model from a leading NEV OEM, as well as configuration solutions for NVIDIA's accelerated computing platform.

The cooperation involves deploying AI BOX based on the NVIDIA DRIVE AGX Thor accelerated computing platform, providing high-performance computing power support for on-vehicle deployment of next-generation AI foundation models.
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Amid lingering uncertainty over US-Iran peace talks, declines in software shares, and oil price surges, US equities retreated from their peaks on Thursday.

The DJIA once sank as much as 628 points or 1.3% after midday to a bottom of 48,861. It eventually closed down 179 points or 0.4% at 49,310. The Nasdaq ended 219 points or 0.9% lower at 24,438. The S&P 500 fell 29 points or 0.4%, closing at 7,108.

Software stocks were under sell-off pressure. Microsoft (MSFT.US) slid 4%. Oracle (ORCL.US) slumped 6%. IBM (IBM.US) plunged 8.3%. While it reported forecast-beating earnings for 1Q26, growth in its software business slowed. ServiceNow (NOW.US) nosedived 17.8% after it lowered its operating margin guidance.
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Meta Platforms (META.US) plans to lay off 10% of its workforce, involving about 8,000 employees, in order to improve efficiency and offset its substantial spending on AI, foreign media quoted internal documents as saying.

In a memo to employees, the Company disclosed that the layoffs will begin on 20 May. The Company will also freeze recruitment for 6,000 positions that were originally planned to be filled.
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Kevin Zhang, Deputy Co-COO and SVP of Business Development and Global Sales at TSMC (TSM.US), remarked that the company plans to establish a chip packaging plant in Arizona by 2029. It will actively expand the production capacity of its Arizona facilities, aiming to build CoWoS and 3D-IC capacity by 2029.

By far, Apple (AAPL.US) and Nvidia (NVDA.US) have been sourcing chips from TSMC's Arizona plant, but many of these chips still need to be shipped back to Taiwan for packaging. Amkor Technology (AMKR.US) and TSMC previously announced in 2024 that they would collaborate to introduce several of TSMC's advanced packaging technologies to Arizona.
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Tesla (TSLA.US) announced after market close on Wednesday that its net profit for 1Q26 lifted 17% YoY to USD477 million. Adjusted EPS was USD0.41, above market expectations of USD0.37. Following the results announcement, the stock shot up nearly 4% in after-hours trading.

Revenue for the quarter mounted 16% YoY to USD22.39 billion, slightly below market expectations of USD22.64 billion.
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US President Donald Trump's extension of the US ceasefire agreement with Iran, paired rosy corporate earnings, boosted market sentiment. The Nasdaq and the S&P 500 both closed at record highs. US equities advanced across the board on Wednesday.

The S&P 500 erased its losses for the week, adding 73 points, or 1.1%, to close at 7,137. The Nasdaq hit an intraday record high of 24,660 and finished up 397 points, or 1.6%, at 24,657. The DJIA shot up 340 points, or 0.7%, to close at 49,490.

Apple (AAPL.US) spiked 2.6%, leading gains among the "Magnificent Seven", as CEO Tim Cook will serve long-term as chairman. Alphabet (GOOG.US) and Amazon (AMZN.US) each climbed more than 2%.
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Microsoft (MSFT.US) announced that, as part of its 'Frontier Transformation' initiative, Microsoft 365 E7 Frontier Suite, as a Wave 3 of Microsoft Copilot, will be officially launched in Hong Kong on 1 May.

Microsoft 365 E7 integrates Microsoft 365 Copilot, Work IQ and Agent 365, while featuring enterprise-grade security, identity management and AI agent governance capabilities.

AIA (01299.HK) is leveraging Microsoft’s AI platform to implement a comprehensive agentic AI strategy across its operations, encompassing AI agent-powered product training, sales object management & knowledge access, automated claims processing and customer self-service.
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