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<a href="/company/sea-group">Sea</a> founder Forrest Li reportedly told staff the company could reach USD 1 trillion in valuation as it accelerates its use of <a href="/industry/ai">AI</a>. In a memo marking Sea’s eighth year as a listed firm, Li compared AI’s rise to earlier tech revolutions but cautioned that success will demand discipline and precise execution. His remarks come as Sea expands across Southeast Asia and Brazil.

Emaar Properties founder and chairman Mohamed Alabbar said the Dubai developer is exploring expansion into the US and China. Speaking at a <em>Reuters</em> conference, he cited housing shortages in cities such as California and New York as entry opportunities while reaffirming confidence in China’s long-term growth prospects.

Meta is said to be cutting about 600 positions from its <a href="/industry/ai">AI</a> division, including its FAIR (Facebook Artificial Intelligence Research) and product AI teams, while continuing to expand its TBD Lab. Chief AI officer Alexandr Wang said the restructuring aims to streamline decision-making and increase individual impact.

Hong Kong has approved its first ETF tracking Solana, launched by ChinaAMC. The Asia-first Solana ETF, set to begin trading on October 27 in HKD, RMB, and USD, directly holds the token to mirror its performance. The move highlights Hong Kong’s effort to cement its digital asset hub status amid growing regional scrutiny.

Gushine Electronics has opened a 22,000-square-meter lithium battery manufacturing base in Hai Phong, Vietnam. The automated facility will produce industrial and commercial battery packs valued at about USD 100 million annually and create up to 500 jobs.

<a href="/company/alibaba">Alibaba’s</a> Quark unit is reportedly advancing an <a href="/industry/ai">AI</a> initiative known internally as project "C," led by its core team with senior input from Tongyi Lab. Sources said the project focuses on conversational AI and will unveil initial results soon. The codename may derive from “Chat” or the game <em>Pac-Man</em>, suggesting competition with <a href="/company/bytedance">ByteDance's</a> Doubao.

Shenzhen-based Leju Robotics has raised more than USD 200 million ahead of a planned listing, attracting investors including CITIC Goldstone Investment and Shenzhen Investment Holdings. The funds will support new robot development and production scaling as Leju deepens partnerships with <a href="/company/huawei">Huawei</a>, <a href="/company/alibaba">Alibaba</a>, Haier, and other firms.

Chinese drugmaker Innovent Biologics has signed a partnership with Japan’s Takeda Pharmaceutical worth up to USD 11.4 billion to co-develop and commercialize two cancer therapies. The deal includes USD 1.2 billion upfront, as much as USD 10.2 billion in milestone payments, and a USD 100 million equity investment.

<a href="/company/baidu">Baidu’s</a> Apollo Go has partnered with Swiss transport operator PostBus to launch AmiGo, an autonomous ride-hailing service in Switzerland’s eastern cantons. Trial runs are set to begin in December 2025 using Baidu’s Level 4 RT6 <a href="/industry/ev">EVs</a>, with fully driverless operations targeted for early 2027. The partnership marks Apollo Go’s European debut and supports Switzerland’s smart mobility goals.

Beijing-based Shengshu Technology has unveiled Vidu Q2, a video generation model designed to rival <a href="/company/openai">OpenAI’s</a> Sora. The system enables users to create realistic, controllable clips by merging up to seven reference images into coherent scenes. Available globally, the model supports multiple video formats as Shengshu expands its multimodal <a href="/industry/ai">AI</a> portfolio.

Unitree Robotics has launched an education platform that trains students to operate, maintain, and develop its Go2 quadruped robots. The in-person program combines simulation, hands-on training, and competition to build <a href="/industry/robotics">robotics</a> skills and expand the talent pipeline, aligning with China’s push to accelerate <a href="/industry/ai">AI</a> and robotics education nationwide.

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Alibaba’s Jiang Fan expects Taobao Shangou to reach RMB 1 trillion in transaction volume within three years.

As Singles’ Day nears, what’s expected of Taobao Shangou?

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Deals in brief: Accel backs Pave Bank, Endowus raises over USD 70 million, Hangry completes Series A5 round, and more

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