China Adds Domestic AI Chips to Government Procurement List as U.S. Considers Easing Nvidia Export Curbs 
Gulf Sovereign Funds Unite in Paramount–Skydance Bid for Warner Bros Discovery 
SK Hynix Considers U.S. ADR Listing to Boost Shareholder Value Amid Rising AI Chip Demand 
GameStop Misses Q3 Revenue Estimates as Digital Shift Pressures Growth 
United Airlines Flight to Tokyo Returns to Dulles After Engine Failure During Takeoff 
SpaceX Insider Share Sale Values Company Near $800 Billion Amid IPO Speculation 
Intel’s Testing of China-Linked Chipmaking Tools Raises U.S. National Security Concerns 
ANZ Faces Legal Battle as Former CEO Shayne Elliott Sues Over A$13.5 Million Bonus Dispute 
Microsoft Unveils Massive Global AI Investments, Prioritizing India’s Rapidly Growing Digital Market 
Air Force One Delivery Delayed to 2028 as Boeing Faces Rising Costs 
Coca-Cola’s Costa Coffee Sale Faces Uncertainty as Talks With TDR Capital Hit Snag 
Air Transat Reaches Tentative Agreement With Pilots, Avoids Strike and Restores Normal Operations 
JD.com Pledges 22 Billion Yuan Housing Support for Couriers as China’s Instant Retail Competition Heats Up 
Moore Threads Stock Slides After Risk Warning Despite 600% Surge Since IPO 
Trump’s Approval of AI Chip Sales to China Triggers Bipartisan National Security Concerns 
Nvidia Develops New Location-Verification Technology for AI Chips 
SpaceX Edges Toward Landmark IPO as Elon Musk Confirms Plans 
Chinese automaker Geely Automobile has offered $2.2 billion to privatize Zeekr, its premium electric vehicle (EV) brand, just a year after its U.S. IPO. The move values Zeekr at $6.52 billion and offers $25.66 per American Depositary Share—13.6% above Tuesday’s close. Zeekr shares surged over 11% in U.S. premarket trading following the announcement.
As of May 7, Geely owns 65.7% of Zeekr and plans to acquire the remaining 34.3%, aiming to merge the brand fully into Geely Auto (HK:0175). The move reflects Geely’s strategy to consolidate operations and reduce internal competition amid intensifying EV price wars in China. Chairman Li Shufu cited the “Taizhou Declaration” as a guiding principle for strategic integration and efficiency.
Founded in 2021, Zeekr targets the premium EV market, leveraging Geely’s in-house technology, from EV platforms to batteries. In Q1 2025, Zeekr sold 41,403 vehicles, a 25% increase year-over-year, surpassing BYD’s premium brand Denza. The brand went public in May 2024 at a $6.8 billion valuation, marking the first major U.S. listing by a Chinese firm since 2021.
However, geopolitical risks loom. Zeekr was recently named in a letter by U.S. lawmakers urging the SEC to delist 25 Chinese companies over alleged military ties, reigniting delisting concerns for over 100 Chinese firms on U.S. exchanges, valued collectively at $1 trillion.
Geely is also restructuring its operations into two core units—Geely Auto for the mass market and Zeekr Group for premium EVs. In March, it merged three R&D units to boost innovation in digital cockpit systems. This streamlining signals Geely’s pivot from expansion to operational focus amid rising global trade tensions and industry disruption.
