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Chinese early-stage investment firm 01VC has announced the first close of a 500 million yuan (US$69 million) fund, focusing on early- to growth-stage investments in AI, robotics, and smart manufacturing. The fund, backed by state-owned capital and market-oriented entities, aims to enhance China's industrial digitalization and support local companies in international expansion. Founded in 2015, 01VC has previously managed five funds and invested in notable firms like Lalamove and Hai Robotics.
China has warned nations against making trade deals with the US that undermine its interests, accusing Washington of tariff abuse amid escalating tensions. The Chinese Commerce Ministry stated it would respond resolutely to any agreements made at its expense, as the US pressures countries to limit trade with China. Meanwhile, Southeast Asian nations, heavily reliant on China, are navigating the fallout from the ongoing tariff war, with significant trade ties to both the US and China at stake.
NVIDIA shares fell by 5.6% following reports that Huawei is preparing to ship its Ascend 910C AI chip, which is comparable to NVIDIA's H100, amid new US export restrictions. The H20 AI GPU, previously the highest-end chip available to China, now requires a license for sale, limiting access to advanced AI technologies. Despite these challenges, NVIDIA plans to develop compliant chips while facing increasing competition from domestic Chinese alternatives.
Wedbush analyst Dan Ives has urged Elon Musk to step back from his role in government cost-cutting efforts and refocus on Tesla, warning of a "code red situation" for the company. Ives believes that without Musk's full attention, Tesla's future is at a critical juncture, especially as the automaker prepares to report quarterly earnings. He recently lowered Tesla's price target from $550 to $315, citing challenges from U.S.-China trade tensions and Musk's political involvement, which has negatively impacted the company's image.
Gold prices are projected to reach $4,000 an ounce by mid-2026, driven by strong central bank demand and geopolitical tensions. Recent developments include a surge in gold trading in China amid trade war fears, while challenges arise from government actions in Ghana and Mali affecting mining operations. Analysts remain bullish on gold and related stocks, anticipating significant free cash flow growth for senior producers.
J.P. Morgan Asset Management has appointed Geng Ngarmboonanant as Managing Director in its Multi-Asset Solutions team, focusing on global business and investment strategy. Ngarmboonanant, previously Deputy Chief of Staff to U.S. Treasury Secretary Janet L. Yellen, brings significant economic policy expertise to the firm. His role will involve guiding investment strategies and developing customized solutions for clients, particularly during market volatility.
High volatility in equity markets is expected to persist as investors react to tariff developments and economic uncertainties. Despite recent fluctuations, the outlook for US stocks remains positive, with forecasts suggesting the S&P 500 could reach 5,800 by year-end, supported by potential Federal Reserve rate cuts and improving tariff negotiations. Historically, elevated volatility has been followed by significant returns, with levels of the VIX above 40 correlating with average one-year gains of 30%.
Nvidia faces significant stock pressure amid the escalating U.S.-China tariff war and competition from Huawei's new AI chips. The U.S. government has blocked sales of Nvidia's H20 AI chips to China, leading to an expected $5.5 billion revenue loss, while analysts predict further volatility in the tech sector. Despite these challenges, Nvidia's CEO remains optimistic about the company's future in China and is investing heavily in U.S. manufacturing to bolster its position in the global AI market.
J.P. Morgan Asset Management has appointed Geng Ngarmboonanant as a managing director in its Multi-Asset Solutions business, focusing on global business and investment strategy. Previously, Geng served as Deputy Chief of Staff to Treasury Secretary Janet L. Yellen, advising on key economic policies. His expertise will enhance the firm's ability to provide clients with actionable insights amid a volatile economic landscape.
Geng Ngarmboonanant has joined J.P. Morgan Asset Management as a managing director in the Multi-Asset Solutions division, focusing on global business and investment strategy. Previously, he served as Deputy Chief of Staff to Treasury Secretary Janet Yellen, advising on key economic policies. His expertise will enhance the firm's ability to provide clients with insights amid a volatile economic landscape.
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China's 01VC launches 69 million dollar fund for AI and robotics expansion
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