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Crypto

Coinbase to launch AI, defense, China-themed stock index perpetual futures

Coinbase, the largest cryptocurrency exchange in the United States, is launching stock index futures structured as perpetual futures. It will list a Tech100 (TEK) contract tracking the top 100 Nasdaq-listed companies, along with three themed contracts focused on AI, defense and China. Trading will be available from June 8 through Coinbase Derivatives under oversight of the U.S. Commodity Futures Trading Commission, with 24-hour trading and no expiry.

AI & Enterprise

Sensetime wages all-out push with low-cost AI strategy

Chinese artificial intelligence company Sensetime is pushing a strategy that stresses cost efficiency over top-end performance, led by its new multimodal model SenseNova U1. It aims to avoid a contest to build ever-larger, more expensive models and instead focus on low operating costs and enterprise customers, as it faces U.S. sanctions and intense competition in China. The company said it narrowed losses and posted its first positive EBITDA since listing.

AI & Enterprise

China\'s ShengShu raises $290 million led by Alibaba to speed world model development

Alibaba Cloud led a $290 million Series B funding round for ShengShu, the developer of the AI video generation tool Vidu, CNBC reported on Thursday. TAL Education and Baidu Ventures also participated. The funding highlights bets on developing world models based on video and physical scenarios. ShengShu said it will use the money to build a general-purpose world model linking digital worlds with physical worlds such as autonomous driving and robotics.