SpaceX IPO Demand Surges Past $250 Billion Ahead of Historic Market Debut 
SK Hynix Stock Rebounds as AI Memory Chip Demand Fuels Expansion Plans 
Sigma Healthcare Shares Slide Amid Preliminary Boots Acquisition Talks 
Oracle Stock Falls Despite Earnings Beat as Company Plans $40 Billion Financing for FY2027 
Wizz Air Beats Profit Forecast as Cost Controls Offset Industry Challenges 
oOh!media Takeover Battle Intensifies as Bain Capital Joins Competing Bids 
CrowdStrike Beats Q1 FY2027 Expectations, Raises Outlook Despite After-Hours Stock Decline 
Naver Stock Jumps on NVIDIA Partnership to Build South Korea’s AI Infrastructure 
Qualcomm Stock Gains After Jensen Huang Endorsement 
Jensen Huang Strengthens Nvidia’s South Korea Ties Amid AI Expansion 
TSMC Sees Strong AI-Driven Growth as Demand for Advanced Chips Continues to Surge 
Intesa Sanpaolo Launches €30.6 Billion Bid for Monte dei Paschi to Drive Italian Banking Consolidation 
Apollo and Blackstone Complete $35 Billion Anthropic AI Infrastructure Financing Deal 
SpaceX IPO Sets Record With $75 Billion Raise, Valuation Hits $1.77 Trillion 
Hanmi Semicon Shares Surge After $33 Million SpaceX Investment 
GSK Reportedly Nears $9 Billion Acquisition of Cancer Drug Developer Nuvalent 
South Korea Weighs AI Profit Sharing as Samsung and SK Hynix Earnings Surge 
WeRide, a Chinese autonomous vehicle startup, has received California’s regulatory approval to begin testing its robotaxis with passengers, a move that comes as the U.S. considers restricting Chinese technology in vehicles.
California Approves WeRide Testing Amid US Tech Concerns
The utility regulator in California has granted permission to the Chinese autonomous driving startup WeRide to conduct passenger testing of its vehicles.
This comes at a time when the United States is planning to prohibit automobiles equipped with technologies built in China, as per sources familiar with the situation, and the company is aiming for an initial public offering (IPO) in New York that could fetch a price of $5 billion.
WeRide Restricted from Collecting Payments in California
This month, WeRide received three-year permission from the California Public Utilities Commission (CPUC) to test both driverless and self-driving test cars. There will be no way for WeRide to collect payments from customers or provide trips to anyone in the general public.
CPUC informed Reuters that WeRide will serve San Jose and the surrounding areas with its fleet of twelve operating cars.
Due to public outcry, bureaucratic roadblocks, and resistance from local agencies, developing and commercializing robotaxis in the United States has been more challenging than anticipated.
According to Yahoo Finance, only Waymo, a subsidiary of Alphabet with 700 vehicles, operates unmanned robotaxis that collect fares in the United States.
Cruise Robotaxi Accident Resumed Testing in April
After a pedestrian was injured by one of General Motors' Cruise vehicles last year, testing with safety drivers resumed in April.
In 2021, WeRide, which was established in 2017, was granted permission by the state of California to conduct unaccompanied vehicle testing. The business has driverless permits in both Singapore and the UAE; it also manufactures autonomous buses, street sweepers, and vans.
Reuters asked WeRide for more information, but the company did not immediately respond.
