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AI & Enterprise

DeepSeek taps first CFO ahead of IPO to step up low-cost AI push

DeepSeek is moving to appoint its first chief financial officer ahead of an initial public offering, as it accelerates fundraising and listing preparations. It is considering Yen Wen-tao of GL Ventures, part of Hillhouse Investment, for the role. DeepSeek has widened market share with low-cost, high-performance models but needs significant funding for chips, computing infrastructure and talent. It has selected underwriters including CITIC Securities and is said to be targeting Shanghai’s STAR Market, alongside pre-IPO fundraising.

AI & Enterprise

China AI shifts fight to inference costs, testing U.S. dominance

Chinese AI models are shaking U.S. dominance in the global AI market by offering lower inference costs, an analysis said. Juniper Research said rapid performance gains and low costs are changing developers’ model choices, with competition shifting to how cheaply inference can be delivered in real services. On OpenRouter, the combined share of U.S. models has fallen, while usage of Chinese models has surged and surpassed U.S. models by early June.

Autos & Transportation

Hyundai Motor offers up to $10,000 discount on EVs in U.S. with Ioniq series promotions

Hyundai Motor is stepping up electric vehicle promotions in the United States, offering discounts of up to $10,000 and 72-month zero-interest financing on models including the Ioniq 5 and Ioniq 9. The move is seen as a response to higher price burdens after a federal tax credit ended and intensifying competition. In South Korea, Hyundai Capital is also offering discounts on Ioniq models and Kia EVs. Media reported low lease payments for some trims.