Brief

The total market value of Exchange Traded Funds (ETFs) listed on the Shanghai and Shenzhen stock exchanges has surpassed 5.1 trillion yuan as of the end of April, showing an increase from the previous month. Industry experts observe that the Chinese ETF market is shifting from a focus on broad-based indices to a more diversified approach, incorporating sector-specific, strategy-based, and cross-border themes. This evolution is supported by regulatory encouragement for long-term investment and improvements in ETF registration and issuance mechanisms, signaling a new phase of high-quality development for ETF businesses. AI

SB Energy, a clean energy subsidiary of SoftBank, is planning to confidentially file a draft IPO prospectus with the U.S. Securities and Exchange Commission. The company intends to pursue an Initial Public Offering in the United States, with the specifics of the offering size and timing dependent on market conditions and regulatory review. This move by SB Energy indicates a significant step towards public market entry for the SoftBank-backed clean energy firm. AI

Ocean, an agentic email security platform, has secured $28 million in funding. The company, founded by a former teen hacker and Iron Dome researcher, will use the capital to develop its AI-powered phishing detection capabilities. Ocean's technology analyzes email context to identify and combat sophisticated fraud attempts. AI

Nvidia announced record-breaking first-quarter revenue of $81.6 billion, driven by massive demand for its AI platforms. The company is shifting its financial reporting to better reflect its focus on AI, moving away from separate reporting for gaming and professional GPU sales. Future reports will categorize revenue by deployment markets, specifically Data Center (split into Hyperscale and AI Clouds, Industrial, and Enterprise) and Edge Computing. AI

AliExpress is nearing profitability, with its adjusted EBITA loss shrinking to 138 million yuan, attributed to improved operational efficiency and a strategic shift towards branding. The platform has seen significant growth in its "Brand+" initiative, with over 30% of its global active buyers engaging with branded products, and a 40% year-over-year increase in brand GMV. To further enhance efficiency and lower barriers for merchants, AliExpress has launched Accio Work, an enterprise-level AI agent designed to automate various aspects of online store operations, from market analysis to product listing. AI

OpenAI is reportedly preparing to file for an Initial Public Offering (IPO) within the coming weeks, with a potential stock market debut planned for the fall. The company is working with Goldman Sachs and Morgan Stanley to facilitate a confidential filing as early as May 22nd, though the exact timing remains fluid. OpenAI has stated that it regularly evaluates various strategic options, maintaining its focus on execution. AI