Luminar Technologies filed for Chapter 11 bankruptcy protection in Texas on Monday, seeking to sell its core business after losing a crucial supply contract with Volvo Cars and facing mounting financial pressure, according to court filings and company statements.

Amid the ongoing arms race for AI computing power and the global push for infrastructure upgrades and industrial automation, communication and sensing components have risen in profile to become critical system elements. Grand-Tek Technology is seeing order momentum outpacing current revenue performance.

Walt Disney and OpenAI have reached a cooperation agreement under which Disney licenses its classic characters for use on Sora, OpenAI’s video generation platform. Bloomberg reports that OpenAI did not pay a traditional cash licensing fee to obtain Disney’s IP this time, but instead provided stock purchase warrants, allowing Disney to buy OpenAI shares at an agreed price in the future, on top of its existing US$1 billion equity stake.

As generative artificial intelligence (GenAI) and large model training rapidly increase computing power density, artificial intelligence (AI) data centers are entering a new phase where energy efficiency and thermal management have become decisive factors.