DeepSeek Nears a RMB100 Billion Round, With CATL and Tencent as Biggest Backers
Reuters says more than 15 investors are joining at a RMB500 billion pre-money valuation, as the round doubles its original RMB50 billion target.
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Friday, October 23, 2026
China’s CSI 300 Enters Bear Market as AI Selloff Wipes US$2.4 Trillion From Stocks
The benchmark closed 20% below its June high on Thursday, while Hong Kong’s tech index fell 5.03% to its lowest level since September 2024.
Microsoft Ties China-Linked Hackers Using AI Agent Tool ARTEX to ConnectWise Breach
Storm-0940 used stolen ConnectWise app identities to try more than 2,250 Microsoft 365 tenants, at up to 2,900 sign-in attempts per minute.
MIIT-Led Five-Year Plan Calls for AI-Native Basic Products Across China’s Industrial Base
Eight agencies set 22 tasks in seven areas to bring China’s components, materials and basic software to an internationally advanced level by 2030.
iFlytek Launches Spark X2.6, Saying It Was Trained Entirely on Chinese Compute
The model is priced at RMB0.9 per million input tokens for a limited time, and a 4-billion-parameter edge version is already on Hugging Face.
China’s JCET Lifts 2026 Investment Plan to RMB18.2 Billion as Q3 Profit Rises 60%
The chip packager’s computing-electronics revenue grew 54% in nine months and now makes up 30.9% of sales, as fixed-asset spending rises to RMB17.31 billion.
Humanoid Maker Noetix Robotics Files Confidentially for Hong Kong IPO, Bloomberg Says
The CATL-backed Beijing startup, maker of the RMB9,998 Bumi robot, could raise several hundred million US dollars and list as early as 2027.
XPENG Says Its IRON Humanoid Can Now Predict Human Moves Six Seconds Ahead
The robot re-reasons every 0.2 seconds on three in-house Turing chips, as XPENG holds to a goal of mass production by the end of 2026.
Geely-Linked Qianli Technology Says Its Driver Assistance Is Now in 1 Million Cars
Chairman Yin Qi told a Chongqing AI conference that the Qianli Haohan system reached the mark in 18 months across 16 models, with 93.9% of buyers activating it.
Unitree Launches a Global Physical AI Contest and Sets Three Priorities for Its Robots
Founder Wang Xingxing pledged tens of millions of yuan a year for an eight-track contest, and named mass production, small models and compute as his focus.
Thursday, October 22, 2026
China Puts Companies in Charge of Turning Research Into Industry, From Chips to AI
A joint Party and State Council directive with 17 measures names integrated circuits and machine tools for breakthroughs and calls for a bond-market tech board.
Samsung and SK Hynix Upgrade China NAND Plants as YMTC Takes Market Lead
Samsung’s Xi’an plant, about 40% of its NAND output, is moving to 286-layer chips with a 40,000-wafer monthly target for December 2027, sources told Reuters.
Former PBOC Governor Zhou Xiaochuan Warns Failed AI Investment Could Trigger a Financial Crisis
Zhou told a Bund Summit panel that so much capital is going into AI infrastructure that partial failures could require rescues of some financial firms.
Tencent Shares Drop Below HK$400 as AI Spending Squeezes Profit and Cash Flow
The stock closed at HK$393.8 on October 21, a near one-year low, after Tencent’s AI-driven second-quarter capex tipped free cash flow to minus RMB13.8 billion.
ByteDance’s Doubao Phone Agent Blocks Itself From Banking and Payment Apps
A week after 155 apps refused its screen automation, Doubao now restricts itself in banking, trust, payment, internet-finance and lending apps.
Tencent’s WorkBuddy Leads China’s AI Office Market With 32 Million Monthly Users
QuestMobile puts September monthly users of China’s AI office tools at 142 million, with Baidu’s Dazi second at 9.77 million and Alibaba’s Qwen Office third.
Unitree Warns of Valuation Risk After Nearly 30% Three-Day Share Rally
China’s first listed humanoid robot maker trades at 388 times trailing earnings, almost ten times the 39.5 times average for its industry group.
Tencent and Ant Back Ex-ByteDance Executive’s AI Assistant Start-Up as Funding Tops US$200 Million
Today AI, founded by former Feishu product vice president Qi Junyuan, has raised more than US$200 million less than a month after its China launch.
Optical-Chip Maker Shijia Photons More Than Triples Q3 Profit on AI Data-Center Demand
Third-quarter revenue rose 116% to RMB1.227 billion, yet the STAR-listed supplier burned RMB439 million in operating cash over nine months.
ByteDance Puts Video at 10% of Its Compute, Disputing China AI-Drama Token Claim
COL Group put AI dramas and video generation at 55% of China’s token use, a share CAICT’s September token-economy report also carried.