Tech Giants on the Move: Musk's New Role, Alibaba Sues Former Employee, Bitcoin Plunge, Xiaomi Car Production Surpasses 100,000

Tech Giants on the Move: Musk's New Role, Alibaba Sues Former Employee, Bitcoin Plunge, Xiaomi Car Production Surpasses 100,000The 21st Century Business Herald New Productivity Research Institute reports: Several noteworthy events have taken place in the tech industry over the past 24 hours. From the announcement of Musk's new role to Alibaba suing a former employee, from the Bitcoin plunge to Xiaomi's car production exceeding 100,000

Tech Giants on the Move: Musk's New Role, Alibaba Sues Former Employee, Bitcoin Plunge, Xiaomi Car Production Surpasses 100,000

The 21st Century Business Herald New Productivity Research Institute reports: Several noteworthy events have taken place in the tech industry over the past 24 hours. From the announcement of Musk's new role to Alibaba suing a former employee, from the Bitcoin plunge to Xiaomi's car production exceeding 100,000... Let's take a look at these new developments from tech giants.

Giant Barometer

1. Musk's new role announced: On November 12th, US President-elect Trump announced that US entrepreneur Elon Musk and Vivek Ramaswamy will jointly lead the proposed "Department of Government Efficiency" after he takes office. Trump said that the "Department of Government Efficiency" will "pave the way for dismantling government bureaucracy, cutting unnecessary regulations and wasteful spending, and restructuring federal agencies." The "Department of Government Efficiency" (DepartmentofGovernmentEfficiency) is abbreviated as "DOGE." Following the announcement of these appointments, Dogecoin (DOGE), which Musk supports, continued to surge, despite a general market decline.

2. Alibaba's Tongyi Large Model former core employee joins ByteDance, sued for violating non-competition agreement: On November 13th, it was reported that Zhou Chang, a former employee of Alibaba's Tongyi Large Model, violated his non-competition agreement, and Alibaba has filed an application for labor dispute arbitration. Industry insiders close to Tongyi said: the situation is true. Public information shows that Zhou Chang joined Alibaba in 2017 and served as the technical leader of Alibaba's Tongyi Large Model. After leaving in July this year, there were media reports that Zhou Chang had joined ByteDance in August, working on AI large model-related work. (Science and Technology Innovation Board Daily)

3. Bitcoin plunges after breaking $93,000, over 200,000 people liquidated: On November 13th, Bitcoin broke through $93,000 per coin, setting a new historical high. However, the price then plunged by about $5,000, with over 250,000 people liquidated across the entire network in 24 hours. In recent days, the prices of various cryptocurrencies have been rising. The market generally believes that President Trump, who is considered friendly to Bitcoin, taking office is the main reason for the rise in this round of cryptocurrency prices. At the same time, the Fed's interest rate cuts and institutions' continued hoarding of coins have also boosted the market.

4. Lei Jun: 100,000 Xiaomi SU7s rolled off the production line, taking only 230 days: Early on November 13th, Lei Jun, Chairman and CEO of Xiaomi Group, posted on Weibo: I didn't expect that 100,000 units would be done overnight! From the launch of SU7 to today, we have produced 100,000 units in just 230 days! As a newcomer to the automotive industry, this speed is already very impressive. We will hold a ceremony for the rollout of the 100,000th unit later. On the evening of November 8th, Lei Jun posted on Weibo that Xiaomi SU7 sold 20,726 units in October and pointed out that the vehicle ranked first in several rankings. Recently, Xiaomi's second-phase factory is under intensive construction, and the factory is expected to be capped by the end of the year and be completed by June next year. It will start production as early as July and as late as August.

5. Shanghai completes first clinical trial implantation of brain-computer interface product: Recently, Borui Kang Medical Technology (Shanghai) Co., Ltd. and the Hong Bo team from Tsinghua University's School of Biomedical Engineering jointly developed the brain-computer interface product NEO, which has successfully completed the third national implantation surgery and the first clinical trial implantation surgery in Shanghai at Huashan Hospital. It is reported that the product was developed and type-tested in Shanghai and became the first brain-computer interface product in China to enter the special review process for innovative medical devices in August 2024. This implantation surgery used innovative technologies independently developed, such as the "online time-domain and space-domain brain function localization system," which allows for rapid and precise localization of hand movement/sensation brain regions without intraoperative patient awakening, achieving precise functional localization implantation. It is understood that the product is still in the clinical trial stage and is expected to obtain a Class III medical device registration certificate after multi-center clinical trials.

6. Goertek responds to cooperation with Xiaomi to launch AI glasses: On November 13th, it was reported that Xiaomi is planning to launch a new generation of AI glasses, and has reached a cooperation with Goertek a few months ago, with the product expected to be released in the second quarter of 2025. Regarding the shipment volume of this product, Lei Jun expected "to be above 300,000 units." A reporter called Goertek as an investor, and relevant personnel said that the company would not disclose specific customer information and project content. The company's AI glasses business has not yet been mass-produced at this stage, and the main products can be applied to AI glasses and other terminal products. As of press time, Xiaomi has not responded to this matter.

7. Netscout Technology: Currently, the revenue of liquid cooling business accounts for a small proportion of the company's overall revenue: Netscout Technology said at a performance briefing that the company has accumulated rich experience and achieved corresponding technical achievements in liquid cooling. Currently, there are two directions: single-phase immersion liquid cooling and cold plate solutions. In recent years, as liquid cooling technology has gradually attracted market attention, its subsidiary Green Cloud Map is also actively carrying out technical certification and cooperation with server, chip and other manufacturers in the industry chain to jointly promote the application of liquid cooling technology. At present, the revenue of the liquid cooling business accounts for a small proportion of the company's overall revenue. However, in the future, with the emergence of high-computing power and edge scenarios, as well as the mandatory requirements of the national policy for green and low-carbon, liquid cooling technology will usher in broader application needs.

8. Volocopter signs a purchase order for 120 aircraft with ICBC Financial Leasing: On November 13th, during the 15th China International Aviation & Aerospace Exhibition, Volocopter reached a strategic cooperation with ICBC Financial Leasing Co., Ltd. (hereinafter referred to as "ICBC Financial Leasing"), signing a preliminary purchase order for 120 AE200s, setting a record for the largest single order for eVTOL products in the domestic aviation financial leasing market. In the future, the two parties will accelerate the deployment and promotion of eVTOL product solutions based on their own expertise, jointly explore the establishment of an eVTOL valuation system and leasing business standards, and ICBC Financial Leasing will provide comprehensive financial services for the entire chain of the low-altitude economy supply chain, manufacturing, operations, and guarantees. At the same time, ICBC Financial Leasing will share its global airline customer resources with Volocopter in Volocopter's product export and competition in the global low-altitude travel market.

9. AI hardware joins the Double Eleven battle: AI hardware, especially the AI headset track, experienced a sharp growth this year. Douyin e-commerce's Double Eleven battle report shows that the Shengzhi AI pearl clip-on headset won the first place in Douyin's single-product sales and super-value hot-selling list in the headset industry, and Shengzhi AI became the top 2 brand in Douyin's 3C digital home appliance sales list. It also appeared on the hot-selling list of several platforms including Tmall and JD.com.

10. TSMC stops supplying chips to mainland China? State Council Taiwan Affairs Office responds: On November 13th, the State Council Taiwan Affairs Office held a regular press conference. A reporter asked: TSMC has agreed to the US request to stop supplying relevant chips to customers in mainland China. What are your comments on this? In response, spokesperson Zhu Fenglian said that promoting cross-strait industrial cooperation is beneficial to the development of enterprises on both sides of the Taiwan Strait, and it enhances the wellbeing of people on both sides of the Strait. The related reports once again prove that the US is playing the "Taiwan card" and escalating tensions across the Taiwan Strait in order to "contain China with Taiwan." However, the DPP authorities are trying to "depend on external forces to seek independence," blindly following the US and engaging in "decoupling and breaking the chain," setting more and more artificial obstacles to cross-strait industrial cooperation. Ultimately, this will harm the interests of enterprises in Taiwan and weaken the advantages of relevant industries in Taiwan, making Taiwan further miss opportunities for industrial development.

The Latest Chip News

1. AMD confirms 4% layoffs globally: AMD spokesperson confirmed that the company is laying off some employees globally. Earlier, an anonymous user posted relevant messages on online forums. AMD is currently actively entering the artificial intelligence industry through multiple acquisitions, and plans to exit the accelerator product business while using debt and its own