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Xiaomi’s IPO performs poorly in stock market on first day [Update: It’s doing better now]

Could hamper its performance this year

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It’s a bad time to invest in China. After the escalating feud between ZTE and the US, more Chinese companies are feeling the brunt of tense Sino-American relations.

Presently, Chinese phone maker Xiaomi has made a lackluster debut on the stock market. Expecting a valuation of over US$ 100 billion, the company has punched in only US$ 54 billion in valuation, making only US$ 4.7 billion in the IPO.

As for individual stocks, Xiaomi opened to a tepid HK$ 16, much less than their expected HK$ 17.

Prior to the debut, controversies have mired the Chinese market. Just from the company’s perspective, Xiaomi has notoriously expanded their product lineup to include the divisive lifestyle market, most of which have not seen overwhelmingly positive returns yet.

Additionally, ZTE’s troubles with the American government have signaled that Chinese products still aren’t welcome in the West. So far, the issue has affected sales of other Chinese companies including Xiaomi and Huawei, despite their popularity in other countries. Of note, both companies still top the charts all over the world.

Regardless, Xiaomi CEO Lei Jun remains confident that their disappointing IPO is only a minor setback to their overall plans. More importantly, he cites that Xiaomi’s goal of maintaining only a five percent profit is still on track.

However, the IPO trouble will undoubtedly cause speed bumps with the company’s plans to expand to the US later this year.

Update (7/10/2018): After the tumultuous debut, Xiaomi’s stocks showed signs of life the day after. During afternoon trading, the shares’ value rocketed up by 9 percent. As a result, their price increased by as much as HK$ 18.56, well above the company’s expectations.

The jump came as Xiaomi announced its inclusion into the Hang Seng Composite Index. The move allows investors from mainland China to invest in Xiaomi’s stocks. Arguably, Chinese investors show more interest toward the company’s future compared to other foreign investors looking at the political issues in the US.

Xiaomi had already decided on the inclusion in the past. However, the company opted to postpone the move in favor of the Hong Kong debut.

SEE ALSO: Xiaomi Mi Mix 3 live images leak showing no chin, no notch

Enterprise

AMD poised to lead agentic AI era with high-performance CPUs

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AMD is prepared to lead the industry in its agentic AI era with their high-performance CPU strategy.

As the industry pivots from simple AI models to agentic AI systems that are capable of independent planning and decision-making, the CPU is reclaiming its role as the critical “head coach” of the data center.

This was noted by AMD CEO and Chair Dr. Lisa Su during the AMD Advancing AI event last year. The rise of autonomous agents has transformed inference into a complex and multi-step workflow that demands sophisticated logic and orchestration.

And while high-performance GPUs are necessary to generate insights in real time, the surrounding infrastructure is just as important.

This is where CPUs enter the picture. Their performance and efficiency are more important than ever in the overall performance of modern AI infrastructure.

And AMD delivers an advantage with their offerings. In recently published data, a 5th Gen AMD EPYC CPU-based system is estimated to perform up to 2.1x better per core against an NVIDIA Grace Superchip-based system.

The same system AMD-based system also delivers up to 2.26x uplift on SPECpower, measuring operations per watt.

The x86 CPU architecture gives customers the advantage of a broad, proven software ecosystem that can run existing workloads natively.

This avoids the costly refactoring and code-base duplication often required when switching to Arm-based alternatives.

Looking ahead, AMD is doubling down on the balanced system philosophy. Future architectures such as the “Venice” CPUs will power the “Helios” rack-scale AI design.

By integrating EPYC CPUs with Instinct GPUs and the ROCm software stack, AMD aims to maximize cluster-level performance and lower the total cost of ownership in the agentic era.

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Nintendo sues the United States

The Japanese company wants a refund for illegal tariffs.

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What happens when an unstoppable force meets an immovable object? After a year of wrestling through tariffs from the current American administration, Nintendo has decided to sue the United States.

Last year, the Trump administration was trigger-happy with implement tariffs on countries everywhere. Though the controversy mostly circulated around geopolitics, major corporations also found themselves on the receiving end of Trump’s ire. All over the world, the tariffs sparked product delays and price hikes.

Nintendo is no exception. As a result of the fiasco, the company had to delay the launch of the Switch 2, in anticipation of disruptions caused by the tariffs. First reported by Aftermath, the Japanese gaming giant is now going after the American government over refunds associated with the tariffs.

Now, the tariffs aren’t a big issue anymore. Notably, the Supreme Court scratched off the White House’s implementations that the former found illegal. While a big sigh of relief for future business, corporations like Nintendo have already paid duties and deposits in the past. As a result, Nintendo is now looking for recompense for what they paid before.

Nintendo isn’t the first company to seek restitution over the illegal tariffs. Others, including FedEx and Revlon, are also asking for refunds. However, the Japanese giant is certainly one of the biggest names to cross the government’s path. After all, the company is notoriously litigious over anything it considers as an affront to its business, including small streamers using Pokémon on their broadcasts.

With all its global resources, Nintendo likely won’t just give up without a fight.

SEE ALSO: The Nintendo Switch is now Nintendo’s best-selling console ever

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Paramount wins bid for HBO Max, plans to merge streaming apps

It’s all part of the deal to acquire the Warner Bros. library.

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Last year ended with the bombshell announcement that Netflix might buy the entire Warner Bros. library. However, after some finagling and a rocky start, Paramount has now emerged as the main suitor for the lucrative library.

At the end of last year, it seemed all but confirmed that the gigantic Warner Bros. library was coming to Netflix as part of a huge buyout deal. This became even clearer when Warner Bros. Discovery rejected Paramount’s initial bid to counter Netflix. However, Paramount recently revised its offer to an astounding US$ 110 billion, or US$ 31 per share, which Warner Bros. Discovery signed off on. Netflix passed on the opportunity for a counteroffer, making Paramount the sole bidder.

Today, Paramount has announced that, if the deal pushes through, they will merge Paramount+ and HBO Max into one streaming service. This means that Paramount’s CBS, Comedy Central, and MTV will be under the same roof as DC, Game of Thrones, Harry Potter, and Mission: Impossible.

The value of the above names alone makes this into one of the most lucrative deals for Paramount. However, it’s not without its drawbacks. The combined entity will reportedly carry US$ 79 billion in net debt for both purchasing Warner Bros. and refinancing the newly purchased property.

Currently, the deal is expected to go through regulatory approval ending in the second half of 2026.

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