Xiaomi Founder Expects EV Arm to Turn Profitable After New SUV
Xiaomi Corp. founder Lei Jun expects its year-old EV business to turn profitable in the second half, a milestone for the billionaire's $10 billion endeavor in a cut-throat market.
Xiaomi's shares advanced more than 3% in Hong Kong. Lei delivered his forecast during a Tuesday investor event without specifying the type of profit. His company has enjoyed strong sales of its SU7 sedan since its launch a year ago, which helped narrow losses in that division in recent quarters.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
14 minutes ago
- Yahoo
Hesai Group (HSAI) Soars 19.26% as New Lidar Secures Safety Certification
Hesai Group (NASDAQ:HSAI) is one of the . Hesai Group soared by 19.26 percent on Thursday to end at $23.10 apiece after achieving a new milestone for its ATX Lidar and safety certification portfolio. In a statement, Hesai Group (NASDAQ:HSAI) said that its ATX, a compact, high-resolution, long-range lidar, officially obtained ISO 26262 ASIL B functional safety certification from SGS-TÜV, the world's leading testing, inspection, and certification institution. ATX marked its fourth ISO 26262 accreditation after after Pandar128, QT128, and AT128. With the new certification, Hesai Group (NASDAQ:HSAI) said it now holds the highest number of ISO 26262 certified products in the world. ISO 26262 is a key standard for the functional safety of electrical and electronic (E/E) systems in vehicles. It calls for carefully planned safety measures at every step of the development process—from safety management and concept design, to system, hardware, and software development. Logistics robots filling packages in a warehouse, preparing for delivery. As vehicles become more dependent on E/E systems, ISO plays an important role in ensuring vehicle components adhere to the most stringent safety standards to reduce costly recalls and prevent passenger injuries. While we acknowledge the potential of HSAI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
34 minutes ago
- Yahoo
Veteran fund manager who predicted Nvidia stock rally makes surprising move
Veteran fund manager who predicted Nvidia stock rally makes surprising move originally appeared on TheStreet. Nvidia () shares climbed for five consecutive days this week, closing at a record high of $157.75 on June 27. The rally has made the AI chipmaker the most valuable company again, with a market cap of about $3.85 trillion, ahead of Microsoft () and Apple () . About three months ago, some pessimistic investors thought that Nvidia's stock had probably reached a dead end as it fell sharply amid macro uncertainties and trade policies. But the stock has gained 67% since its low in early was hit hard as the U.S. tightened export restrictions on advanced chips in April. The Trump administration said Nvidia would need an export license to ship the H20 processors to China. The H20 chip was designed under the Biden administration's rules. The chipmaker took a $4.5 billion charge in the April quarter and said it would have made an additional $2.5 billion in revenue without the restriction. Nvidia's CEO, Jensen Huang, has long warned that export controls could hurt U.S. chipmakers and even threaten the country's position as the global leader in technology. 'If we want the American technology stack to win around the world, then giving up 50% of the world's AI researchers is not sensible," Huang recently said on CNBC. Several developments have driven Nvidia's rally since its April low. The stock first began to recover after the U.S. and China agreed to temporarily pause the elevated tariffs. Sentiment improved further when the Trump administration scrapped the Biden-era AI diffusion rule, which was another export control on advanced AI chips. In May, shares got another boost from news that Nvidia would supply AI chips to Saudi Arabia's Humain, a rising tech player in the May 28, Nvidia posted strong fiscal first-quarter results. Adjusted earnings came in at 96 cents per share on $44.06 billion in revenue, beating Wall Street's estimates of 93 cents and $43.31 billion. The company guided for $45 billion in revenue for the current quarter, just under analysts' forecast of $45.9 billion. Nvidia said that number would have been roughly $8 billion higher without the ongoing export curbs to China. This week's rally was also helped by signs of easing U.S.-China trade tensions. Secretary of Commerce Howard Lutnick told Bloomberg that a trade deal with China has been finalized and signed. The deals said China would ship rare earth metals to the U.S. in exchange for "countermeasure" removal. But it's still unclear whether semiconductors are part of the deal, and chips remain a major sticking point in trade negotiations. As Nvidia shares climbed, Chris Versace, a Wall Street veteran fund manager who oversees TheStreet Pro's portfolio, just sold part of his stake during the rally. On June 26, Versace trimmed roughly 10% of the portfolio's Nvidia stake at $154.06. The gains were just over 100%.Versace began his career in equity research and now has more than 30 years of experience. He started buying Nvidia stocks in February 2024. He had predicted Nvidia's rally earlier this year, buying more shares in the dip. More Nvidia: Analysts revamp forecast for Nvidia-backed AI stock Nvidia stock could surge after surprising Taiwan Semi news Nvidia CEO sends blunt 7-word message on quantum computing "We remain bullish on the prospects for both companies, especially after Wednesday night's quarterly earnings report and lifted outlook from Micron () ," Versace wrote in a note on TheStreet Pro, adding that he still intended to hold Nvidia shares to "maximize AI and data center build out and AI adoption related returns." Versace said the sale reflected his stance as a 'disciplined investor,' adding that if Nvidia shares continue to rise and push the stock's weight back to 4.5% of the portfolio, 'we'll look to lock in additional gains.' As of now, Nvidia makes up 4.19% of the fund manager who predicted Nvidia stock rally makes surprising move first appeared on TheStreet on Jun 28, 2025 This story was originally reported by TheStreet on Jun 28, 2025, where it first appeared. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Car and Driver
39 minutes ago
- Car and Driver
View Photos of the 1990 Full-Size Luxury Sedan Comparison Test
Read the full review The arrival of Lexus and Infiniti was a watershed event in the world of luxury cars. This is the first comparison test in which the LS400 and the Q45 competed.
