Latest news with #JayLi
CNBC
2 days ago
- Business
- CNBC
Joe Tsai-backed basketball league eyes Asia's 'untapped potential'
The inaugural Asian University Basketball League kicks off on August 18 in Hangzhou, China. CEO Jay Li talks about finding and building on an audience in Asia, and putting Asian sports talent on an international platform.
Reuters
12-06-2025
- Business
- Reuters
Tesla lawsuit says former engineer stole secrets for robotics startup
June 12 (Reuters) - Tesla (TSLA.O), opens new tab has sued one of its former engineers and his startup in California federal court, accusing them of stealing trade secrets related to its robot project Optimus to build a competing business for developing robotic hands. The lawsuit, opens new tab filed on Wednesday said Jay Li took confidential Tesla files before leaving the company and used them to enable his startup Proception to "shortcut the typical development process" for robot hands. "Through Li's pilfering, Defendant Proception purportedly achieved in a matter of months what it has taken Tesla over four years, hundreds of employees, and billions of dollars to achieve," the complaint said. Spokespeople for Proception and attorneys and spokespeople for Tesla did not immediately respond to requests for comment on the lawsuit on Thursday. Tesla said in the complaint that it had devoted "extraordinary resources" to developing Optimus, a humanoid robot powered by artificial intelligence. The lawsuit said Li worked on the Optimus sensor team from 2022 to 2024. Tesla alleged that Li downloaded confidential files related to Optimus' robotic hand movement research before leaving the company last year, despite no longer working on Optimus' hands at the time. The complaint said Li founded Proception six days after leaving Tesla and that the startup touted its ability to build robotic hands five months later. Proception's hands have "striking similarities" to Tesla's, according to the lawsuit. Tesla requested an unspecified amount of monetary damages and a court order blocking Li and Proception from misusing its trade secrets. The case is Tesla Inc v. Proception Inc, U.S. District Court for the Northern District of California, No. 5:25-cv-04963. For Tesla: Josh Krevitt, Orin Snyder and Angelique Kaounis of Gibson Dunn & Crutcher For Proception and Li: attorney information not yet available
Japan Times
30-05-2025
- Business
- Japan Times
League backed by Nets owner looks to raise profile of college basketball in Asia
The NCAA men's and women's basketball tournaments have morphed from mere sporting events into cultural phenomena in the United States. Each year from March until early April, talk of brackets, cinderellas, Sweet 16s and Final Fours fill the air as 'March Madness' rumbles to life on Selection Sunday and dominates the sports landscape until the champions cut down the nets. Thanks to the tournaments, college basketball becomes the most popular sport in the U.S. for about three weeks each year. Jay Li, the CEO and co-founder of the Asian University Basketball League (AUBL), which will launch later this year, sees the impact the NCAA tournament has in the U.S. and thinks: Why not in Asia, too?
Business Wire
22-05-2025
- Business
- Business Wire
College Hoops in Asia Soars With Launch of Asian University Basketball League (AUBL)
HONG KONG--(BUSINESS WIRE)--Today, the Asian University Basketball League (AUBL) announced a seed round investment led by Blue Pool Capital. The newly raised capital will fuel the AUBL's inaugural season in August 2025 and further the league's vision of unlocking the massive potential of college basketball in Asia. The AUBL is a pioneering pan-regional intercollegiate competition featuring Asia's most prestigious university basketball programs, anchored by top teams from Greater China, Japan, and Korea. The groundbreaking new league will bring the energy and excitement of university sports and 'March Madness' level fandom to the region, creating exciting rivalries and showcasing Asia's top talent to a global audience. The formation of the AUBL is sanctioned by the Asian University Sports Federation (AUSF), the governing body of university sports in Asia. In November 2024, the AUSF and Hong Kong-based sports holding company Realeague reached an exclusive strategic partnership to jointly create the new league. 'With close to 1 billion basketball fans in Asia, we see that the most untapped potential in the entire basketball ecosystem exists here at the college level,' said Jay Li, CEO and Co-Founder of the AUBL. 'Passionate fans, intense competitive energy and an incredible spirit of teamwork and sportsmanship are at the core of the sport's DNA. We aspire to build a history-defining league that will accelerate the sport's development and trajectory by bringing top collegiate teams from Asia together.' This summer, the AUBL is set to host its inaugural season through a single tournament format from August 18 – 24 in Hangzhou, China – a city renowned for blending AI innovation with cultural heritage. With 24 exciting games over the course of 7 days, Asia's 12 best college basketball teams will convene and compete for the first-ever AUBL Championship. Starting in 2026, the AUBL will present a full home-and-away season format that spans over 6 months, culminating in a 'Final Four' championship tournament at a pre-determined site. The list of participating universities in the AUBL's 2025 season includes the following institutions: Dongguk University (South Korea) Hakuoh University (Japan) Konkuk University (South Korea) National Chengchi University (Chinese Taipei) Nippon Sport Science University (Japan) Peking University (China) Shanghai Jiao Tong University (China) Taiyuan University of Technology (China) Tsinghua University (China) University of Hong Kong (Hong Kong, China) Yonsei University (South Korea) Zhejiang University (China) 'As a former student-athlete, I appreciate the value of college sports for both participants and their communities," said Joe Tsai. "In Asian society, top-tier universities are among the most recognized brands, and they easily translate into sports through the spirit of competition between schools. That's why I believe in the AUBL's vision. Asia's growing basketball market, rising talent, and increasing institutional support create the right conditions for a successful collegiate league.' About the Asian University Basketball League (AUBL) Sanctioned by the Asian University Sports Federation (AUSF), the Asian University Basketball League (AUBL) is a pan-regional intercollegiate basketball league spotlighting Asia's most prestigious university basketball programs, anchored by top teams from Greater China, Japan, and Korea. In 2025, the AUBL will take the format of an elite tournament from August 18-24 in Hangzhou, China. From 2026 onwards, the AUBL will present a full home-and-away season format. The AUBL provides a platform for elite student athletes in Asia to showcase their basketball talent while elevating the culture and development of Asian collegiate sports to the next level. For more information, please visit the official website:
Yahoo
22-05-2025
- Business
- Yahoo
College Hoops in Asia Soars With Launch of Asian University Basketball League (AUBL)
AUBL Scores Big with Investment from Blue Pool Capital Inaugural Season to Launch as an Elite Tournament Featuring Asia's 12 Best Teams this August in Hangzhou, China Pan-regional Home & Away Format to Debut in 2026, a Historic First for Asian College Basketball HONG KONG, May 22, 2025--(BUSINESS WIRE)--Today, the Asian University Basketball League (AUBL) announced a seed round investment led by Blue Pool Capital. The newly raised capital will fuel the AUBL's inaugural season in August 2025 and further the league's vision of unlocking the massive potential of college basketball in Asia. The AUBL is a pioneering pan-regional intercollegiate competition featuring Asia's most prestigious university basketball programs, anchored by top teams from Greater China, Japan, and Korea. The groundbreaking new league will bring the energy and excitement of university sports and "March Madness" level fandom to the region, creating exciting rivalries and showcasing Asia's top talent to a global audience. The formation of the AUBL is sanctioned by the Asian University Sports Federation (AUSF), the governing body of university sports in Asia. In November 2024, the AUSF and Hong Kong-based sports holding company Realeague reached an exclusive strategic partnership to jointly create the new league. "With close to 1 billion basketball fans in Asia, we see that the most untapped potential in the entire basketball ecosystem exists here at the college level," said Jay Li, CEO and Co-Founder of the AUBL. "Passionate fans, intense competitive energy and an incredible spirit of teamwork and sportsmanship are at the core of the sport's DNA. We aspire to build a history-defining league that will accelerate the sport's development and trajectory by bringing top collegiate teams from Asia together." This summer, the AUBL is set to host its inaugural season through a single tournament format from August 18 – 24 in Hangzhou, China – a city renowned for blending AI innovation with cultural heritage. With 24 exciting games over the course of 7 days, Asia's 12 best college basketball teams will convene and compete for the first-ever AUBL Championship. Starting in 2026, the AUBL will present a full home-and-away season format that spans over 6 months, culminating in a "Final Four" championship tournament at a pre-determined site. The list of participating universities in the AUBL's 2025 season includes the following institutions: Dongguk University (South Korea) Hakuoh University (Japan) Konkuk University (South Korea) National Chengchi University (Chinese Taipei) Nippon Sport Science University (Japan) Peking University (China) Shanghai Jiao Tong University (China) Taiyuan University of Technology (China) Tsinghua University (China) University of Hong Kong (Hong Kong, China) Yonsei University (South Korea) Zhejiang University (China) "As a former student-athlete, I appreciate the value of college sports for both participants and their communities," said Joe Tsai. "In Asian society, top-tier universities are among the most recognized brands, and they easily translate into sports through the spirit of competition between schools. That's why I believe in the AUBL's vision. Asia's growing basketball market, rising talent, and increasing institutional support create the right conditions for a successful collegiate league." About the Asian University Basketball League (AUBL) Sanctioned by the Asian University Sports Federation (AUSF), the Asian University Basketball League (AUBL) is a pan-regional intercollegiate basketball league spotlighting Asia's most prestigious university basketball programs, anchored by top teams from Greater China, Japan, and Korea. In 2025, the AUBL will take the format of an elite tournament from August 18-24 in Hangzhou, China. From 2026 onwards, the AUBL will present a full home-and-away season format. The AUBL provides a platform for elite student athletes in Asia to showcase their basketball talent while elevating the culture and development of Asian collegiate sports to the next level. For more information, please visit the official website: About the Investors Blue Pool Capital is the family office of Joe Tsai, Chairman of Alibaba Group and owner of the Brooklyn Nets and New York Liberty. View source version on Contacts For media inquiries reach out to: Johanna@ or Press@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
