group buy

Enflame raised about 6.1 billion yuan (US$913 million) by selling 43.04 million shares.

Huawei said the product was designed to ease AI infrastructure bottlenecks by using optical signals instead of copper links.

After the sale, Alibaba Network remained ASR’s largest single shareholder.

DeepSeek said the update would help it serve more users at lower cost and that it would pass those savings on to users.

Since then, the company has hinted at a later mainland listing, likely on the Shanghai Stock Exchange’s tech-focused STAR Market.

The market punished Alibaba’s earnings. But a closer look at the firm’s chips, cloud, and AI model suggests the reaction got the story backward.

DeepSeek was previously reported to be nearing a US$45 billion valuation.

After the offering, Tencent will own a 17.95% stake in Enflame.

JD.com also said companies in its ecosystem employ about 700,000 delivery and logistics workers.

Gartner ranks JD.com’s infrastructure-as-a-service business No. 4 in China.