MiniMax and Z.ai seek Shanghai listings as AI compute spending grows

MiniMax and Z.ai both plan to apply for listings in Shanghai’s tech-focused STAR Market, months after the two AI companies successfully launched IPOs in Hong Kong’s stock market in January, according to Nikkei Asia. This move indicates the pressure the AI companies face to raise capital amid high compute costs to stay ahead of the competition, even as profitability so far remains out of reach.

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GlobalFoundries completes acquisition of Synopsys’ ARC processor IP business to build physical AI platform

GlobalFoundries (GF) has completed its acquisition of Synopsys’ ARC Processor IP Solutions business, the company announced on June 2. The acquisition adds to GF’s existing MIPS subsidiary, combining two processor IP portfolios into a single offering that spans RISC-V processor IP, software tools, custom silicon design, and semiconductor manufacturing.

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