Flash News

TREE NEWS update: Biren Technology said all conditions of its new H-share placement were fulfilled and the deal closed on October 12, 2026, with placing agents selling 130 million new H shares at HK$31.08 each to no fewer than six placees. The shares represent about 9.54% of its issued H shares and 5.00% of total issued shares immediately before closing; gross proceeds were HK$4.04 billion, or about HK$4.02 billion net. Total issued shares after closing stand at 2.73 billion.

TREE NEWS update: Alibaba’s agent platform Qoder launched a new Fast mode, which the company says boosts generation speed by more than 150% and cuts token consumption by about 27% versus the international version’s original performance mode. The mode is available now to all users on both Qoder’s China and international versions.

TREE NEWS reports: Justin Sun, the Tron founder, and English-speaking influencer Alan Shao held a four-hour conversation on how young people with no connections or resources should navigate AI and crypto. Sun argued that individuals should “AI-ify” their lives by keeping personal data local and using APIs, that Crypto translates money into a language machines can understand, and that health and longevity become the scarcest assets in the AI era.

TREE NEWS update: SWI Group has completed an €800 million (about $895 million) fundraising to expand its AI infrastructure business. The company, which previously took control of FTX-backed bitcoin miner Genesis Digital Assets, said it will retrofit some bitcoin mining facilities suited to high-performance computing for AI workloads. The move marks a shift from traditional crypto mining toward AI compute infrastructure.

TREE NEWS update: SWI Group has completed an €800 million (approximately $895 million) fundraising round to expand its AI infrastructure business. The company, which previously took control of Genesis Digital Assets — a bitcoin miner once backed by FTX — said it will retrofit several bitcoin mining facilities suitable for high-performance computing to serve AI workloads. The move marks a shift from traditional cryptocurrency mining to AI computing infrastructure.

TREE NEWS update: Cambricon, the Chinese AI chip developer, said it currently has no cooperation with Megmeet on power supplies, responding to an investor question on an exchange platform. The company said it has focused since inception on R&D and innovation in AI chip products, with its main business being the design and sale of AI core chips for cloud servers, edge computing devices and terminals.

TREE NEWS update: Cambricon said its general-purpose AI chips are designed for a wide range of artificial intelligence applications, responding to an investor question about whether the company has actual business cooperation with DeepSeek. The investor asked why the DeepSeek-V4 preview release only mentioned the Ascend 950 supernode and not Cambricon’s products. The company’s October 12 reply did not confirm any partnership with DeepSeek.

TREE NEWS update: Cambricon said on its investor interaction platform on October 12 that it concentrates on AI chips and currently serves mainly domestic customers. The company designs and sells AI core chips for cloud servers, edge computing devices and terminal equipment, and said it will keep focusing on its main business, chip design innovation and market share expansion.

TREE NEWS update: Cambricon reported its first full-year profit for 2025, with revenue of 6.497 billion yuan, and said first-half 2026 revenue rose 108.13% year-on-year to 5.996 billion yuan. Net profit attributable to shareholders in the period reached 2.311 billion yuan, up 122.61%. The company was responding to an investor question about chip delivery progress and a 25% year-to-date share price drop below its placement price.

TREE NEWS update: Shanghai Chuguang Yueqian Intelligent Technology Co. added Hanxing Venture Capital, a Xiaomi affiliate, as a shareholder in a business registration change, with registered capital raised to 600,000 yuan, Qichacha records show. The company, founded in May 2026, lists smart robot sales and R&D, general AI application systems and AI infrastructure platforms among its business scope.

TREE NEWS update: Chinese e-commerce platform Vipshop has quietly launched its self-developed AI assistant, “AI Xiaowei,” built by its in-house large-model team. The assistant supports text and voice dialogue and can help users find products, check promotions and ask about discounts, and is currently being tested with a limited, grayscale rollout. Vipshop is also hiring senior large-model roles at monthly salaries of 50,000 to 80,000 yuan, or 600,000 to 960,000 yuan a year.

TREE NEWS update: Intel’s CEO said the AI race will have more than one winner, adding that quantum computing will become mainstream within the next three to five years. The remarks set out the chipmaker’s view that the AI market will not be dominated by a single player.

TREE NEWS reports: Broadcom CEO said most companies are not getting a return on their investment in AI computing. The remark, made by the head of the US chipmaker, questions whether the massive capital being poured into AI data centers and compute infrastructure is paying off for corporate buyers.

TREE NEWS reports: Broadcom CEO said AI compute demand will exceed supply over the next two years. The projection points to continued tightness in AI chip and infrastructure capacity, with demand outpacing what the industry can currently deliver. No figures or further details were provided.

TREE NEWS update: The China Academy of Information and Communications Technology (CAICT) has opened applications for the first batch of its ‘Marketing AI Agent Application Capability’ assessment, run by its CTTL Terminal Laboratory. The evaluation covers model access and configuration, task understanding, marketing knowledge use, planning and execution, tool calling, interaction, run logs, and access control and content safety, tested across market and customer analysis, marketing planning, content creation, and marketing communication and recommendation.

TREE NEWS update: Microsoft released Microsoft-Decision-1 on October 12, a new decision model post-trained on Alibaba’s Qwen3.5-9B. Microsoft said the model outperforms popular decision models including LLM and Jev 1.13.0 in latency and accuracy on structured decision tasks. The Xbox research team has used it to process over 10,000 pieces of player feedback, and CEO Nadella said Microsoft is testing it across all areas, including incident response, quality control and scientific discovery.

TREE NEWS update: Tencent’s WorkBuddy has integrated StepFun’s latest flagship model, Step 5 Preview, which will be free on the platform for a limited two-week period starting immediately. Step 5 Preview is StepFun’s new-generation flagship foundation model, built on a sparse MoE architecture with 600 billion total parameters and roughly 27 billion parameters activated per token.

TREE NEWS update: Baidu announced on Oct 12 that Baidu World 2026 will be held on Nov 12 at the China National Convention Center Phase II in Beijing, with tickets already on sale via the event’s official website. The conference is themed “Next Act: Intelligent Organizations.” Attention is focused on how CEO Robin Li will further elaborate on the relationship between AI and organizational evolution, marking another edition framed around the “next act” theme.

TREE NEWS update: Shanghai launched its “Action Plan for Accelerating Next-Generation Smart Manufacturing” on October 12 at the opening of the 26th China International Industry Fair. The plan comprises four major programs and 19 key tasks to deepen AI-manufacturing integration. Shanghai aims to put 8,000 humanoid robots into factories by 2028. The city already hosts two national-leading and 28 national-excellence smart factories, the most of any Chinese city.

TREE NEWS reports: The UK government is drawing up plans to make safety reporting and monitoring mandatory for frontier AI. The proposal would require firms developing the most advanced models to report on safety and submit to monitoring. No timeline, legislative vehicle or scope has been disclosed.