MiniMax, a Shanghai-based rival to DeepSeek, surged 87% on its trading debut after raising USD$619m (£458m) in an initial public offering. The shares rose to HK$310 (£31), giving the company a market capitalisation of more than USD$12bn (£8.88bn) and highlighting strong investor appetite for China’s fast-growing AI sector.

Some US staff received notices last week that they won’t join the new joint venture led by Oracle, Silver Lake and MGX, Business Insider reported.

TikTok has announced that it has finalized a deal to establish a majority American-owned joint venture, allowing the app to continue operating in the United States indefinitely. First agreed in December,