Answer Box
WeChat has begun a small-scale internal test of its native AI assistant, "Xiaowei," on June 20, while Tata Electronics, a key supplier to Apple and Tesla, confirmed a cybersecurity breach that leaked over 630GB of data including component designs and trade secrets. Separately, Dreame Technology denied that its former BU head Chen Longdong was the "CEO of Dreame Auto," clarifying his role and departure in May.
WeChat Rolls Out Native AI Assistant in Limited Test
On June 20, WeChat launched a closed beta of its native AI assistant, "Xiaowei," available to users who update to version 8.0.75. Once granted access, users can tap the "Xiaowei" icon at the top-left of the main interface or swipe right to start interacting with the AI. According to a report from Guangming Net, the assistant supports text and voice commands for everyday tasks such as chatting, reading files, setting reminders, sending messages, making transfers, and managing the Moments feed. For example, users can say "send a birthday greeting to Mom" or "remind me to drink water in five minutes."
Tata Electronics Breach Exposes Apple and Tesla Data
Tata Electronics confirmed on June 23 that it had suffered a "cybersecurity incident" after security researchers reported that the ransomware group "World Leaks" had published over 200,000 stolen files on the dark web. The leaked data, totaling more than 630GB, includes component designs, specification documents, and trade secrets belonging to core clients Apple and Tesla. In a statement, Tata Electronics said the incident was detected weeks ago and that its response measures were activated immediately, with no impact on business operations. An insider told Jiemian News that Apple has launched a "comprehensive analysis" of the breach.
Dreame Denies Auto CEO Departure Claims
Dreame Technology's subsidiary, Xingchen Weilai Auto, issued a statement on June 23 refuting online rumors that a "Dreame Auto CEO" had left the company. The statement clarified that Chen Longdong joined Dreame's Xingchen Weilai business unit (BU) in June 2025 as its BU head, not as "Dreame Auto CEO." He left the BU in May 2026, which was a normal personnel change. The clarification comes after Dreame restructured its operations, consolidating over 200 independent business units into four core segments: whole-house smart cleaning, smart home appliances, smart mobility, and AI embodied intelligence. The previously high-profile auto and smartphone businesses were folded into a new industrial research institute, focusing only on underlying technology R&D, with all plans for mass production of vehicles, offline stores, and heavy-asset factories scrapped.
AI and Tech Roundup
SpaceX Signs $1.5B Monthly Compute Deal with AI Startup
SpaceX has struck a multi-billion-dollar agreement with AI startup Reflection AI to provide computing resources, Jiemian News reported. Starting July, Reflection will pay SpaceX's AI division $150 million per month through 2029 to use the Colossus 2 data center hardware in Memphis, Tennessee.
Nvidia Launches Halos Robot Safety System
On June 22, Nvidia unveiled "Halos for Robotics," a full-stack safety system for physical AI and robots. The system integrates the IGX Thor chip, Holoscan Sensor Bridge, Halos OS software, and an AI safety certification lab. Agility has already integrated Halos into its Digit humanoid robot for factory and logistics use.
Volcanic Engine President Says No IPO Plans
Tan Dai, president of ByteDance's cloud unit Volcanic Engine, stated at the FORCE conference on June 23 that the company has no plans to spin off or list independently. ByteDance is currently focused on advancing its Doubao large language model, Seedance video generation, and enterprise AI-native architecture.
Meta Pauses AI Training Project Over Data Security
Meta announced on Monday that it would suspend an internal AI training program that tracks employees' mouse movements and digital activity, following a data security investigation. Exposed files showed that sensitive data from the monitoring system was inadvertently made accessible to all Meta employees. The company confirmed it is investigating but did not specify how long the suspension would last.
Market and Corporate Updates
ChiNext Index Suffers Worst Drop of 2026
On June 23, the ChiNext index plunged 3.84%, closing below the 4,200-point mark and recording its largest single-day decline of the year. Trading volume reached 901.6 billion yuan, down 118.9 billion yuan from the previous session. All top ten heavyweight stocks fell, with AI computing stocks leading the losses.
Oracle Cuts 21,000 Jobs in Fiscal 2026
Oracle's annual report, released on June 23, revealed that the company reduced its workforce by 13% in fiscal 2026, cutting approximately 21,000 jobs. As of May 31, 2026, total employees stood at 141,000, down from 162,000 a year earlier. The company spent $1.84 billion on severance and restructuring costs, up from $374 million in the prior year. Oracle attributed the cuts to management and product line adjustments, performance issues, strategic shifts, and acquisition integration.
Gold Prices Drop Nearly 30% from Record Highs
After hitting an all-time high of $5,600 per ounce in January 2026, COMEX gold has tumbled nearly 30%, falling to as low as $4,023 in early June. Fang Yitao, an analyst at Everbright Securities, said that while gold can be sold as a liquid asset in extreme scenarios, its long-term bullish drivers — central bank purchases and de-dollarization — remain intact.
SpaceX Issues $25 Billion in Bonds
According to SEC filings, SpaceX is issuing $25 billion in bonds across five tranches, with maturities ranging from 2031 to 2056 and coupon rates between 5.35% and 6.65%. Proceeds will be used to repay bridge loans and for general corporate purposes, with the deal expected to close on June 26, 2026.
Samsung Display Begins Mass Production of Foldable OLED for Apple
Samsung Display has received Apple's official mass production certification and has started producing foldable OLED display modules at its Vietnam factory, with an initial batch of 3 million panels. The company's yield rate has reached 80%, exceeding Apple's 70% threshold. Samsung Display is the sole supplier of foldable OLED panels for Apple's first foldable iPhone, which is expected to launch this fall.
Alibaba Reportedly Plans to Sell Game Unit Lingxi Interactive
Market rumors suggest that Alibaba Group is planning to sell its game brand Lingxi Interactive for between 7 billion and 9 billion yuan, with several A-share listed game companies as potential buyers. Multiple industry sources confirmed the rumors to Shanghai Securities News, but Lingxi Interactive has not yet responded. The unit has about 1,200 employees and operates several studios and two operations departments.
Czech Republic Proposes School Phone Ban from 2027
On June 22, Czech Prime Minister Andrej Babiš announced that the government has submitted a draft law to parliament that would ban all compulsory-education students from using mobile phones in schools starting September 2027. The ban would apply during classes and breaks, with exceptions for health reasons or educational purposes. The government is also studying restrictions on children's social media use.
Musk Tops Billionaire CEO Pay List with $158 Billion
A report on CEO compensation showed that the number of US CEOs earning over $100 million hit a three-year high in 2026, with nearly 12 surpassing $200 million. Elon Musk's $158 billion pay package from Tesla dwarfed all others. The second-highest was Shankh Mitra of Welltower, at $821 million.
Prediction Markets: Zuckerberg Most Likely Next Trillionaire
Following Elon Musk becoming the world's first trillionaire after SpaceX's IPO, prediction market Kalshi gives Mark Zuckerberg a 32% chance of being the second, followed by Nvidia CEO Jensen Huang at 21%.
Sony Plans First Dollar Bond Issuance in Nearly 30 Years
Sony is preparing to issue its first US dollar-denominated bonds in almost three decades, according to sources. The company will offer 5-year and 10-year senior fixed-rate notes, with yield spreads of about 70 and 90 basis points over comparable US Treasuries, respectively. Pricing is expected later.
IPO News
Momenta Global Passes Hong Kong Listing Hearing
Momenta Global, a self-driving technology company, has passed the hearing for its Hong Kong IPO, with joint sponsors CICC and Deutsche Bank.
Luxshare Precision H-Share Listing Reviewed by HKEX
Luxshare Precision announced that the Hong Kong Stock Exchange listing committee reviewed its H-share listing application on June 18. The company has received a letter from HKEX confirming the review, but it does not constitute formal approval.
Funding
Xiaozhu Driverless Vehicle Unit Valued at Hundreds of Millions
Xiaozhu Driverless Vehicle, a unit of Yujia Innovation, is close to completing an independent funding round at a valuation of several hundred million dollars, with investors including leading autonomous driving industry funds. The funds will be used for R&D in physical AI and end-to-end autonomous driving, as well as expanding production capacity.
Striding AI Raises Nearly $100 Million in Angel Round
Striding AI (Zhengxing Innovation) announced on June 23 that it has raised nearly $100 million in a series of angel rounds from investors including Charoen Pokphand Group, Huaqin Technology, and Jiuan Medical. The funds will be used for talent acquisition, core technology development in world action models and reinforcement learning, and commercialization in retail and industrial scenarios.
Cool Products
Faraday Future Unveils Industrial Wheel-Arm Robot
On June 23, Faraday Future launched the FF Faber series of industrial wheel-arm robots at the Automate 2026 exhibition in Chicago. The company also revealed its EAI robot industrial ecosystem strategy. With this launch, FF now has a product matrix covering humanoid, quadruped, and wheel-arm robot forms across six series. CEO Jia Yueting said the Faber series will eventually participate in robot production, enabling "robots making robots."