U.S. Probes Apex Logistics Over Nvidia AI Chip Shipments to China 
PayPal Shares Sink as $50 Billion Takeover Bid Collapses 
New Zealand Labour Backs Social Media Ban for Under-16s 
Pinterest Stock Falls as CFO Julia Brau Donnelly Resigns 
OpenAI Data Center Chief Chris Malone Exits Ahead of Planned 2027 Listing 
Xiaomi Unveils Xring O3 Chip for Flagship Foldable Phone 
Nvidia Eyes Perplexity Investment at $30 Billion Valuation 
Nvidia Options Price in $280 Billion Earnings Swing 
Samsung Shares Tumble 8% as $79 Billion Return Plan Disappoints 
HP Stock Drops 9% Despite Q3 Earnings Beat and Raised 2026 Outlook 
Trump Administration Plans New Drug Pricing Deals With Biotech Firms 
GM Plans C$1.1 Billion Canada Investment Amid U.S. Tariff Pressure 
SoftBank Plans Record $6.3 Billion Bond Sale to Fund OpenAI Investments 
SK Biopharmaceuticals Secures Global Rights to Biohaven Epilepsy Drug Opakalim 
New Zealand Moves to Ban Social Media for Children Under 16 
BofA Names ASML Top Semiconductor Equipment Pick on Growth, Valuation 
Salesforce Shares Surge as AI Demand Powers Q2 Earnings Beat 
Add as a preferred source on Google
Xiaomi Corp (HK:1810) briefly soared to an all-time high of HK$58.70 in Hong Kong trading on Thursday before reversing sharply, dropping 8.4% to HK$51.60. The decline came amid heavy profit-taking and a broader market pullback, with the Hang Seng index slipping 0.8% from a three-year high.
The stock's surge was fueled by excitement over Xiaomi's expansion in the electric vehicle market and its upcoming product launches. Later in the day, the company will unveil the SU7 Ultra, a luxury performance version of its SU7 EV. CEO Lei Jun expressed confidence in meeting Xiaomi’s 2025 target of 10,000 units.
Additionally, Xiaomi is set to release its latest flagship smartphone, the Xiaomi 15 Ultra, which is expected to drive a fresh wave of sales. The brand has been gaining ground against Apple (NASDAQ:AAPL) in China, as it leads in AI-powered smartphone innovation.
Xiaomi’s stock has enjoyed a stellar rally over the past month, boosted by growing optimism over Chinese tech stocks and the country’s AI boom. The company’s foray into the competitive EV market has also generated significant investor interest, with strong early sales for the SU7.
Despite today’s dip, Xiaomi’s expansion into EVs and AI-driven smartphones continues to strengthen its market position. Investors remain bullish on the company’s long-term growth potential as it challenges rivals in both the smartphone and EV sectors.
