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Telecommunications & Media

China\'s Even Realities valued at $1 billion after $150 million pre-Series B round

China\'s smart glasses company Even Realities Technology raised $150 million in a pre-Series B funding round joined by Tencent and Meituan, valuing it at $1 billion. The Shenzhen-based startup plans to use the funds to develop a next-generation smart glasses platform, strengthen AI integration, expand global operations and accelerate product innovation. Founder and CEO Will Wang previously worked at Apple from 2016 to 2018.

AI & Enterprise

Neocloud market shifts as SoftBank and Meta enter

The neocloud market for AI-focused cloud computing is shifting as major players enter. SoftBank Group and its telecom unit SoftBank plan to start a neocloud business next fiscal year, renting AI computing resources to U.S. companies. Meta is also stepping up plans to use its data centres for cloud services. Nvidia is expanding support for smaller cloud firms that lease its GPUs. Big cloud companies are also building forward deployed engineer teams for enterprise AI.

AI & Enterprise

Meituan releases LongCat-2.0 as open source, trained on 50,000 Chinese-made ASICs

Meituan has released its LongCat-2.0 AI model, previously known by the codename \"Owl Alpha\", as open source on GitHub, Hugging Face and its own platform. The model uses a 1.6 trillion-parameter mixture-of-experts architecture and supports a 1 million-token context window under the MIT licence. Benchmark scores include 59.5 on SWE-Bench Pro. Meituan said it trained the model on a cluster of more than 50,000 Chinese-made ASICs without Nvidia GPUs.