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Industry

China forms semiconductor alliance as Alibaba, CXMT join launch of huge fund

Major Chinese technology companies and state-backed investment institutions have launched a 3.91 billion yuan long-term investment fund in response to tighter U.S. technology export controls. The Changzhi Hanhai Private Investment Fund, registered in Shanghai’s Pudong New Area, aims to supply “patient capital” to support research, development and commercialisation in deep-tech fields such as semiconductors. Investors include CXMT-related entities, Alibaba affiliates and AMEC, alongside state-backed funds.

Industry

OpenAI, Anthropic and SpaceX IPOs loom, testing U.S. market’s ability to absorb supply

SpaceX and Anthropic have begun IPO procedures and OpenAI may follow, raising questions about whether U.S. markets can absorb new listings from large private tech firms. Market focus is on shifts in supply and demand after listings, including index inclusion and lock-up expiries that could release large volumes of shares. Estimates suggest up to $4 trillion in market value could be added if all three list.

AI & Enterprise

MSIT to seek public comment on revised AI Framework Act enforcement decree

South Korea\'s Ministry of Science and ICT said on May 21 it will seek public comment from that day on a draft revision to the enforcement decree for the Artificial Intelligence Framework Act, ahead of the law\'s July implementation. The draft defines the scope of AI-vulnerable groups and sets rules for prioritising AI products and services in public procurement, including liability exemptions. It also expands eligibility for cost support, specifies procedures for using a venture fund for AI startups, and sets requirements for AI research institutes.