
China Neuralink Rival Seeks Pre-IPO Funds at $1.3 Billion Value
The company founded in 2015 by Harvard alumnus Han Bicheng is in negotiations to secure about $100 million in pre-IPO financing, people familiar with the matter said. The startup has begun preparing documents for a market debut, though it hasn't decided on venue or other details, the people said, asking to remain anonymous discussing private plans.

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Bloomberg
2 minutes ago
- Bloomberg
US Futures Climb After Trump Floats Chip Tariffs: Markets Wrap
US futures climbed and Asian equity futures were mixed after President Donald Trump warned he may impose a 100% tariff on chip imports. Contracts for the S&P 500 and Nasdaq 100 rose early Thursday in Asia, erasing brief losses in a sign traders were left scrambling to identify which US companies may be affected. In post-market trading Wednesday, shares in Nvidia Corp and Apple Inc rose while those for Broadcom Inc fell. Equity index futures for Japan and Australia dropped with those for Hong Kong advancing.
Yahoo
30 minutes ago
- Yahoo
Rivian, Lucid Brace for a Rough Ride as EV Headwinds Intensify
Rivian (RIVN, Financials) and Lucid Group (LCID, Financials) are warning that the rest of 2025 will be bumpy; policy changes, trade tensions and supply?chain snags are putting pressure on electric?vehicle makers. Rivian shares slid about 4% after hours; Lucid fell roughly 7%. Warning! GuruFocus has detected 5 Warning Signs with RIVN. The Trump administration has reshaped the EV landscape ending consumer tax credits; imposing steep tariffs on imported auto parts; and scrapping emission fines for gas?vehicle makers. China's tighter export limits on heavy rare earth metals critical for EV motors have only made things worse; supply chains are straining under the weight. For Rivian, that's meant higher costs and shrinking side income from selling regulatory credits. The company now expects a deeper adjusted core loss of $2 billion to $2.25 billion this year; that's up from its prior $1.7 billion to $1.9 billion range. Per?unit costs jumped 8% to about $118,375; lower production added roughly $14,000 per vehicle. A three?week production pause in September will prepare its lower?priced R2 SUV for a 2026 launch; management says the model is key to reaching a wider audience. Lucid avoided the worst of the rare?earth crunch by tapping into existing magnet inventory; still, tariffs have eaten into margins. The luxury EV maker cut its annual production goal; it also warned of softer demand in Q4 once the $7,500 federal tax credit expires at the end of September. Analysts expect a rush of Q3 sales as buyers race to lock in the incentive; the risk is that the pull?forward leaves a hole later in the year. This article first appeared on GuruFocus.

Wall Street Journal
33 minutes ago
- Wall Street Journal
Trump Targets Russia via India
President Trump wants at long last to raise the pressure on Russia for a cease-fire in Ukraine, and on Wednesday he threatened India with a 50% tariff if it keeps buying Russian oil. The puzzle is why the President is so far giving China a pass, though Beijing buys more Russian oil than does New Delhi. The new tariff is included in an executive order 'Addressing Threats to the United States by the Government of the Russian Federation.' India is a target because its purchases of Russian oil are a major source of revenue for Vladimir Putin's war machine. India has long bought Russian crude, but its purchases since Russia invaded Ukraine have increased enormously and help Mr. Putin continue his deadly rampage. India has 'always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE,' Mr. Trump wrote on Truth Social. The executive order would add a 25% tax on India's exports to the U.S. in three weeks if India doesn't adjust its policy. This would be on top of the 25% tariff that Mr. Trump has already applied to imports from India and is set to begin Thursday. Through June this year, India exported some $56.3 billion in goods to the U.S., making it the twelfth largest U.S. trading partner. The exports include medical products, generic drugs and telephones, among other things.