Markets

At the 2025 Future Automotive Pioneers Conference, Huawei’s Richard Yu criticized EV quality control. He claimed some automakers wouldn’t meet Huawei’s standards. Yu stressed that quality is paramount, advocating for consumer safety and urging the industry to avoid setting low standards. He called for innovation to prevent stagnation and challenged deceptive advertising practices.

Seres Group announced a strategic investment in Huawei’s automotive tech spin-off, InnoVision, solidifying their partnership. Chairman Zhang Xinghai described it as deepening their relationship, particularly for the AITO brand. The RMB 11.5 billion investment secures a 10% stake and a board seat. InnoVision focuses on intelligent automotive systems. This investment is a key step for Seres in advanced automotive technology, building on the successful AITO vehicle collaboration with Huawei.

Stanford researchers have unexpectedly created AI-generated CUDA kernels that surpass human-optimized versions. The AI-powered kernels demonstrated significant performance gains across various deep learning operations, outperforming PyTorch in several benchmarks, including matrix multiplication and 2D convolutions. This breakthrough, achieved through a novel method involving language reasoning, could redefine kernel optimization and potentially impact deep learning development.

Leapmotor’s CEO Zhu Jiangming was awarded the 2025 Zhejiang Province Science Entrepreneur, the only automotive leader recognized. The award acknowledges his contributions to EV technology, particularly CTC battery integration and central electronic architecture, enhancing China’s EV competitiveness. The Zhejiang Science Entrepreneurship Program, launched in 2024, aims to cultivate innovative entrepreneurial leaders.

Gold Reserve Ltd. announced a deadline extension in the Citgo Petroleum sale linked to Venezuela. The U.S. District Court granted the Venezuelan parties more time to submit bids for PDVH, Citgo’s holding company, with a new “Topping Period” deadline of June 18, 2025. Key dates for legal proceedings were also outlined, including a final recommendation by June 27, 2025, and a sale hearing on July 22, 2025. Gold Reserve anticipates bidding but acknowledges the deal faces significant risks, including potential regulatory challenges.

TSMC is considering building a cutting-edge chip fabrication plant in the UAE, a significant strategic move for the world’s largest chipmaker. This potential expansion highlights the UAE’s drive to become a global tech leader, particularly in AI. Discussions with UAE officials and US representatives suggest advanced stages of assessment. This move, along with potential investments from other major semiconductor companies, could lead to major shifts in the global semiconductor supply chain, boosting the Middle East’s tech capabilities.

St. Augustine Gold and Copper (SAU.T) has restructured its KingKing Copper-Gold Project ownership in the Philippines, consolidating development rights. This involved a $9.12 million convertible note issued to its partner, Nadecor, allowing conversion into shares, acquiring all Kingking Milling Corporation shares and streamlining the project. This strategic move aims to facilitate project financing and capitalize on the high-potential project, considered a top priority by the Philippine government. The company also includes cautionary forward-looking statements about potential risks.

The 2025 Future Automotive Pioneers Conference in Shenzhen highlighted NIO’s advancements. CEO William Li unveiled the unified brand presence of NIO, ONVO, and Firefly, cleverly referencing “Willing to Win” in Chinese. He also emphasized NIO’s commitment to Shenzhen’s innovative spirit and its extensive charging network utilized by 90% of non-NIO vehicle drivers, solidifying NIO’s infrastructure investment in China.

Elon Musk left the U.S. Government Efficiency Department (DOGE) to advise former President Trump. He aims to continue contributing to DOGE’s goal of $1 trillion in spending cuts, despite facing challenges with job reductions and questionable savings. Musk plans to remain a key advisor while Trump expressed a willingness to utilize Musk’s expertise.

Avant Brands Inc. concluded its annual general meeting on May 30, 2025, with 16.19% of outstanding shares represented. Shareholders elected all six nominated directors, re-appointed Ernst & Young LLP as auditor, and approved several proposals, including the deferred share unit plan, its amendments, long-term incentive plan, its amendments, and the repricing of warrants and convertible debentures. Complete voting details reside on SEDAR+.