Pandaily's Digest | Nov 8, 2023
Editor's note: PICO held a company-wide meeting to officially announce its organizational restructuring plan.
ByteDance’s PICO Announces Lay-off Plans
On November 7th at 10 am, PICO, the VR business of ByteDance, held a company-wide meeting to officially announce its organizational restructuring plan, confirming the ongoing rumors of layoffs. Link
Headlines from China
Kai-Fu Lee’s 01.AI Releases A Large-scale Model Yi-34B Worth Over $1 Billion
Sinovation Ventures Chairman Dr. Kai-Fu Lee led the establishment of AI 2.0 company 01.AI, which officially open-sourced and released its first pre-trained large model Yi-34B on November 6th. Link
Freshippo’s “Global Go” Business Undergoes Comprehensive Upgrade
On November 6th, Freshippo announced at the Import Expo that its "Global Go" business will be fully upgraded. Link
Ericsson’s Guangzhou R&D Team Undergoes Layoffs
According to a disclosure by an Ericsson employee on social media, there has been a major personnel adjustment at Ericsson's R&D Center in Guangzhou. Link
Chinese GPU Start-up Moore Thread Announced Lay-off
On November 6th, Chinese GPU startup Moore Threads released a company-wide announcement, declaring the initiation of "personnel optimization". Link
News You Shouldn’t Miss
Alibaba International Launches ‘Aidge’, an AI Suite to Enhance Global Commerce Operations
On November 6, Alibaba International Digital Commerce Group announced the pilot launch of “Aidge,” its first commerce-centric, AI-powered suite of APIs that is poised to streamline global operations for enterprises. Link
Douyu CEO Chen Shaojie Missing for Nearly Three Weeks
Chen Shaojie, the Chairman and CEO of Chinese game livestreaming company Douyu, has gone missing for nearly three weeks. Link
Co-working Giant Files for Bankruptcy in the US, WeWork China Responds
WeWork China says it will not be affected by WeWork's bankruptcy filing in the US. Link
Porsche China CEO: the Current Scale of Chinese Market Is Unable to Support Local Production
On November 5th, Michael Kirsch, CEO of Porsche China, stated that currently Porsche's sales and scale in the Chinese market are not sufficient to support local production. Link
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