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Tesla becomes most valuable automaker as more workers contract COVID-19

The Verge

Tesla’s stock price hit $1,000 for the first time on Wednesday, meaning the Silicon Valley company has now passed Toyota in market capitalization and is the most valuable automaker in the world by that metric. In a sense, that’s no surprise, since the overall stock market is booming again to the disbelief of many.

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Buildots raises $30M to put eyes on construction sites

TechCrunch

Buildots went after new funding once it was able to show product market fit and was expanding into other countries. Germany, Switzerland, Scandinavia and China. Despite the hype, construction tech will be hard to disrupt. The platform is being utilized on major building projects in countries like the U.S.,

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How to raise money for your startup from VCs and investors in Asia

The Next Web

However, this primarily applies to businesses within China and India, where these big firms reside, as they rarely invest in startups outside of those two countries. As I touched on before, China and India have the most mature VC communities. In most markets, there are very few VCs and a ton of entrepreneurs chasing them.

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Apple’s reported alliance with Baidu for AI functions in China draws mixed response

TechNode

Baidu has reportedly won a deal to power iPhones and other Apple devices in China using its generative artificial intelligence, domestic media outlet China Star Market reported on Monday, citing unnamed sources familiar with the matter.

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China’s central bank bans cryptocurrency transactions to avoid ‘risks’

The Verge

The People’s Bank of China, the country’s central bank, said Friday that cryptocurrency transactions are illegal, saying such currencies “do not have legal tender status” and therefore “cannot be circulated as currency in the market.”. China is in the midst of an energy crisis that has already affected many other industries.

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Huawei enters phone sales war with Oppo and Xiaomi after weeks of limelight-stealing marketing moves

TechNode

The date marks the anniversary of the return to China of Sabrina Meng (Meng Wanzhou), Huaweis chief financial officer, who was under house arrest in Canada for three years due to an extradition request from the US, where she faced fraud charges. Some industry analysts have speculated that Huawei picked these dates for maximum marketing value.

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Equity Monday: A global selloff to kick off Disrupt week

TechCrunch

This is Equity Monday, our weekly kickoff that tracks the latest private market news, talks about the coming week, digs into some recent funding rounds and mulls over a larger theme or narrative from the private markets. On the news front, the global stock market is taking a whacking. Pour some extra coffee, and get hype.

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