China Vanke Says First Half Net Loss May Rise to $1.67 Billion
Vanke reported preliminary a net loss for the period of 10 billion yuan to 12 billion yuan, according to a filing with the Hong Kong stock exchange Monday evening.
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Huawei shows off AI computing system to rival Nvidia's top product
SHANGHAI (Reuters) -China's Huawei Technologies showed off an AI computing system on Saturday that one industry expert has said rivals Nvidia's most advanced offering, as the Chinese technology giant seeks to capture market share in the country's growing artificial intelligence sector. The CloudMatrix 384 system made its first public debut at the World Artificial Intelligence Conference (WAIC), a three-day event in Shanghai where companies showcase their latest AI innovations, drawing a large crowd to the company's booth. The system has drawn close attention from the global AI community since Huawei first announced it in April. Industry analysts view it as a direct competitor to Nvidia's GB200 NVL72, the U.S. chipmaker's most advanced system-level product currently available in the market. Dylan Patel, founder of semiconductor research group SemiAnalysis, said in an April article that Huawei now had AI system capabilities that could beat Nvidia. Huawei staff at its WAIC booth declined to comment when asked to introduce the CloudMatrix 384 system. A spokesperson for Huawei did not respond to questions. Huawei has become widely regarded as China's most promising domestic supplier of chips essential for AI development, even though the company faces U.S. export restrictions. Nvidia CEO Jensen Huang told Bloomberg in May that Huawei had been "moving quite fast" and named the CloudMatrix as an example. The CloudMatrix 384 incorporates 384 of Huawei's latest 910C chips and outperforms Nvidia's GB200 NVL72 on some metrics, which uses 72 B200 chips, according to SemiAnalysis. The performance stems from Huawei's system design capabilities, which compensate for weaker individual chip performance through the use of more chips and system-level innovations, SemiAnalysis said. Huawei says the system uses "supernode" architecture that allows the chips to interconnect at super-high speeds and in June, Huawei Cloud CEO Zhang Pingan said the CloudMatrix 384 system was operational on Huawei's cloud platform. Sign in to access your portfolio
Entrepreneur
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Yali Capital Closes ₹893 Crore Deep Tech Fund
The fund will invest in both early-stage (Seed, Series A) and late-stage (Series D and beyond) startups, with a strong emphasis on deep-tech domains such as semiconductors, artificial intelligence, robotics, genomics, aerospace/surveillance, and smart manufacturing. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Yali Capital, a SEBI-registered Category II Alternative Investment Fund (AIF), has announced the successful close of its maiden deep tech-focused fund at INR 893 crore (approximately USD 104 million), significantly surpassing its initial target of INR 500 crore and a INR 310 crore greenshoe option. The fund will invest in both early-stage (Seed, Series A) and late-stage (Series D and beyond) startups, with a strong emphasis on deep-tech domains such as semiconductors, artificial intelligence, robotics, genomics, aerospace/surveillance, and smart manufacturing. Lip-Bu Tan, veteran investor and advisor to Yali Capital, said, "I strongly believe in India's deep tech capabilities. It is heartening to see the government, global corporations, and successful entrepreneurs come together to back Yali's deep tech thesis. I look forward to supporting Yali in laying the foundation for India's deep tech ecosystem." To attract a global investor base, Yali Capital operates through a dual-structure setup, comprising the SEBI-regulated AIF and a feeder vehicle based in GIFT City. The firm has already made five investments, covering sectors like chip design and AI, and aims to expand its portfolio to eight companies by the end of the year. Yali's Limited Partners (LPs) span a diverse and influential set of backers, including: Infosys, Qualcomm Ventures, Tata AIG; Funds of Funds such as DPIIT's Fund of Funds for Startups (managed by SIDBI), Self-Reliant India Fund, Evolvence, and Singularity FOF; Prominent Individuals such as Kris Gopalakrishnan (Pratithi), Gopal Srinivasan (TVS Capital), Vallabh Bhansali (ENAM), Utpal Sheth (RARE Enterprises), Vishal Kampani (JM Financial), Sanjay Nayak (Tejas Networks), Nambi Seshadri (ex-CTO, Broadcom Wireless), and C. Srinivasan (Cosmic Circuits). Mathew Cyriac, General Partner at Yali Capital, stated: "Nearly a third of our fund will be invested in late-stage deep tech companies. India has a real opportunity to build globally competitive public companies in this space. We are grateful to the global investor community for backing our vision." Yali has already disclosed investments in companies including C2I Semiconductor, 4basecare, and Perceptyne. The fund intends to continue deploying capital actively over the next four years. Ganapathy Subramaniam, Founding Managing Partner of Yali Capital, added, "We are deeply grateful for the overwhelming support from the global tech community. Two-thirds of the fund will be deployed in early-stage deep tech startups. We firmly believe in India's deep tech potential and are committed to backing visionary founders with patient capital."
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India's NFRA appoints new chairperson
The National Financial Reporting Authority (NFRA), India's audit watchdog, has appointed Nitin Gupta as its chairperson. From June 2022 to June 2024, Gupta held the position of Chairman at the Central Board of Direct Taxes (CBDT). With experience spanning the Income Tax Department and Ministry of Finance, he spearheaded automation, faceless assessments, and taxpayer services initiatives. As CBDT Chairman, he leveraged technologies, including AI and big data analytics, to enhance business ease, which are claimed to have resulted in 'record' direct tax-to-GDP ratios and tax revenue growth, as per a release from the corporate affairs ministry. Additionally, NFRA appointed three new full-time members: Smita Jhingran, P Daniel, and Sushil Kumar Jaiswal. Smita Jhingran has a history of involvement with NFRA, where she has expertise in the convergence of Indian auditing and accounting standards with international practices. Her previous roles include Secretary at the Competition Commission of India and various senior positions within the Income Tax Department. In his career, Daniel contributed to vigilance and anti-corruption measures as the former Secretary of the Central Vigilance Commission. Jaiswal's background spans in overseeing audits of central revenue and tax departments as the Director General of Audit (Central Receipts). His international experience includes leading and supervising audits for UN Peacekeeping Operations and various UN agencies. Meanwhile, in June 2025, NFRA urged collaboration between audit committees and auditors to strengthen corporate governance, emphasising thorough engagement led by independent directors. "India's NFRA appoints new chairperson " was originally created and published by The Accountant, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
