China's Liukong Drive, specializing in electric drive systems for new energy commercial vehicles, is undergoing IPO review. Despite skyrocketing sales, cumulative losses of 118 million yuan, soaring accounts receivable, and ongoing cash flow outflows reveal a severe financial crunch.
Kunlun Core, an AI chip subsidiary of Baidu, is preparing for simultaneous listings in Hong Kong and Shanghai, marking a push for independence and heightened competition in China's domestic AI chip market.
AI chip startup Cerebras Systems has filed for an IPO. The move is backed by its deployment in AWS data centers and a deal exceeding $10 billion with OpenAI, as competition in the AI hardware market intensifies.
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