Trump Administration to Secure Equity Stake in Pat Gelsinger’s XLight Startup 
Apple Leads Singles’ Day Smartphone Sales as iPhone 17 Demand Surges 
Hikvision Challenges FCC Rule Tightening Restrictions on Chinese Telecom Equipment 
Magnum Audit Flags Governance Issues at Ben & Jerry’s Foundation Ahead of Spin-Off 
Sam Altman Reportedly Explored Funding for Rocket Venture in Potential Challenge to SpaceX 
Wikipedia Pushes for AI Licensing Deals as Jimmy Wales Calls for Fair Compensation 
Coupang Apologizes After Massive Data Breach Affecting 33.7 Million Users 
Netflix’s Bid for Warner Bros Discovery Aims to Cut Streaming Costs and Reshape the Industry 
OpenAI Moves to Acquire Neptune as It Expands AI Training Capabilities 
Momenta Quietly Moves Toward Hong Kong IPO Amid Rising China-U.S. Tensions 
USPS Expands Electric Vehicle Fleet as Nationwide Transition Accelerates 
Apple Appoints Amar Subramanya as New Vice President of AI Amid Push to Accelerate Innovation 
ByteDance Unveils New AI Voice Assistant for ZTE Smartphones 
Airline Loyalty Programs Face New Uncertainty as Visa–Mastercard Fee Settlement Evolves 
IKEA Expands U.S. Manufacturing Amid Rising Tariffs and Supply Chain Strategy Shift 
TSMC Accuses Former Executive of Leaking Trade Secrets as Taiwan Prosecutors Launch Investigation 
Xiaomi Corp (HK:1810) briefly soared to an all-time high of HK$58.70 in Hong Kong trading on Thursday before reversing sharply, dropping 8.4% to HK$51.60. The decline came amid heavy profit-taking and a broader market pullback, with the Hang Seng index slipping 0.8% from a three-year high.
The stock's surge was fueled by excitement over Xiaomi's expansion in the electric vehicle market and its upcoming product launches. Later in the day, the company will unveil the SU7 Ultra, a luxury performance version of its SU7 EV. CEO Lei Jun expressed confidence in meeting Xiaomi’s 2025 target of 10,000 units.
Additionally, Xiaomi is set to release its latest flagship smartphone, the Xiaomi 15 Ultra, which is expected to drive a fresh wave of sales. The brand has been gaining ground against Apple (NASDAQ:AAPL) in China, as it leads in AI-powered smartphone innovation.
Xiaomi’s stock has enjoyed a stellar rally over the past month, boosted by growing optimism over Chinese tech stocks and the country’s AI boom. The company’s foray into the competitive EV market has also generated significant investor interest, with strong early sales for the SU7.
Despite today’s dip, Xiaomi’s expansion into EVs and AI-driven smartphones continues to strengthen its market position. Investors remain bullish on the company’s long-term growth potential as it challenges rivals in both the smartphone and EV sectors.
