Brief

Gaoyun Semiconductor has begun the process for an initial public offering (IPO) by registering for guidance with the Guangdong Securities Regulatory Bureau, with Guotai Haitong Securities serving as its underwriter. Separately, SpaceX is reportedly adjusting its IPO valuation target to at least $1.8 trillion, a decrease from previous estimates exceeding $2 trillion, as it engages with advisors and investors. The company is expected to initiate its IPO roadshow around June 4th and set its pricing by June 11th. Additionally, Anthropic has released Claude Opus 4.8, featuring a new 'self-healing' capability for its Claude Code. AI

A new investment fund, Shanghai Zhipu Guotai Haitong Artificial Intelligence Industry Venture Capital Partnership (Limited Partnership), has been established in China. This fund is a collaboration between Zhipu AI's wholly-owned subsidiary, Beijing Zhipu Future Technology Co., Ltd., and Guotai Haitong's wholly-owned subsidiary, Guotai Junan Innovation Investment Co., Ltd. The fund's stated purpose is venture capital, specifically targeting investments in unlisted companies. AI

Oriental Securities has announced plans to acquire 100% of Shanghai Securities through a combination of issuing A-shares and paying cash. The transaction involves multiple sellers, including Bailian Group, Guotai Haitong Securities, Shanghai International Group Investment, Shanghai International Group, and Shanghai Chengtou. The specific share distribution and cash payment details are outlined for each selling entity. The final valuation and audit of Shanghai Securities are still pending and will be disclosed in the restructuring report. AI