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AI & Enterprise

Personal AI agent Instinct seeks $1 billion funding at $10 billion valuation

Sphere Street Technology, developer of the personal AI assistant service Instinct, is seeking to raise $1 billion at an expected valuation of $10 billion. The Information reported the company is discussing funding led by Sequoia Capital and Benchmark, citing sources familiar with the matter. The report said the fundraising is not final and terms and lead investors could change. Instinct remains invite-only but has topped 100,000 users.

Finance

KOSPI outlook ahead of Chuseok: Rates, semiconductors in focus

South Korea\'s stock market is expected this week to digest interest-rate moves after the U.S. Federal Open Market Committee and shifts in flows ahead of the Chuseok holiday. Despite a hawkish stance, long-term yields have been stable, and semiconductor and AI-related earnings may support the downside. Thin holiday trading could lift short-term volatility. Over the past decade, the KOSPI has slipped on average before Chuseok but risen afterward, analysts said.

Mobility

Xpeng commercialises smart cockpit, autonomous driving licensing, contrasted with Tesla

Chinese electric vehicle maker Xpeng is expanding a licensing business to sell its autonomous driving and smart cockpit technology to external customers, beyond its existing cooperation with Volkswagen, an EV outlet reported. It has set up a commercialisation team and is seeking contracts covering vehicle electronics architecture, smart cockpit systems, its Turing AI chip, driver-assistance systems and autonomous driving software, as well as robotaxi and humanoid robot technology. Its service revenue rose in the second quarter.