Beijing - CybAI news

16 Aug

Top Chinese Chip Gear Maker Sues Pentagon to Void Sanctions

stp2y0 CommentsRAG modelsAPPLIED MATERIALS INC, Beijing, china, Department of Defense, Economic Sanctions, Gerald Yin, Information Technology, LAM RESEARCH CORP, military, National Security, Technology

One of China’s most prominent chip gear makers is suing the Pentagon for linking it to the People’s Liberation Army, seeking to get off a blacklist that bars business with American firms.Advanced Micro-Fabrication Equipment Inc. alleged that the defense agency harmed the company’s business and reputation by adding the Shanghainese entity to the so-called Section 1260H list of firms linked to China’s military. Pentagon officials took months to respond to a request for additional information, then justified their decision with evidence of an award from China’s Ministry of Industry and Information Technology, AMEC said in its lawsuit. Source link lol

15 Aug

China Adds Metal Used in Ammo to List of Restricted Exports

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China is tightening its grip over global critical-mineral supplies by placing export controls on antimony, a metal used widely in ammunition and other military applications that’s seen a surge in prices this year. The country will apply the restrictions to antimony and antimony-related materials from Sept. 15 in order to safeguard national security, according to a statement from the Ministry of Commerce on Thursday. That adds to earlier controls on other critical minerals including gallium and germanium, which have set off alarm bells in Washington. Source link lol

09 Aug

WeRide Is Said to Seek Up to $400 Million in US IPO, Placement

stp2y0 CommentsRAG modelsAutonomous Vehicle, Beijing, business, china, hyperdrive, IPOs, Markets, regulation, RENAULT NISSAN MITSUBISHI AL, stocks, Technology, US Securities and Exchange Commission, venture capital, WERIDE INC

China’s WeRide Inc. is seeking as much as $400 million in a US initial public offering and concurrent private placement, people familiar with the matter said. The Guangzhou-based autonomous vehicle company, which was granted approval last year by the Chinese securities regulator for a US listing, is seeking about $100 million in the IPO and around $200 million to $300 million in the placement, the people said. Source link lol

06 Aug

Xpeng Aeroht Raises $150 Million for Production of Flying Cars

stp2y0 CommentsRAG modelsAsia, Automotive, Beijing, business, china, cities, Emerging Markets, Guangzhou, hyperdrive, infrastructure, Megacity, Technology, transportation

Xpeng Aeroht, a unit of Chinese electric carmaker Xpeng Inc., raised $150 million to fund the development and production of a proposed flying car in Guangzhou.In a statement Monday, the company said it has also started the next round of funding as it prepares to build manufacturing facilities in the Chinese city. Source link lol