TNB Tech Minute: Moonshot AI Confidentially Files Hong Kong IPO

0:00The questions that matter most are about what happens next. Will the Fed cut rates or how far does Bitcoin run? Polymarket is the world's largest prediction market where you can trade on elections, the economy, finance, crypto, sports, tech, culture and more. Each market asks a simple question, will this outcome happen or not? A sentiment shifts, markets move, giving you real-time information on where the market believes things are heading. Download Polymarket and use code W20 for a $20 bonus on your first trade, that's code W20. 18 plus trading involves risk of loss, terms applying not available in all jurisdictions. Here's your afternoon, TNB Tech Minute for Thursday, September 3rd. I'm Julie Chang for the Wall Street Journal. China's moon shot AI has confidentially submitted an application for an initial public offering to Hong Kong Stock Exchange. That's according to people familiar with the matter. The Beijing-based AI startup was valued at $50 billion in its latest private funding round and surprised the industry in July with its new large-language model, Kimi K3, that rival top-tier American offerings.

1:02The potential listing is subject to approval by Chinese regulators, moon shot decline to comment on the IPO plan. If successful, it could become one of the largest IPOs in Hong Kong in recent years. Lawmakers are calling to reverse cuts at the Cybersecurity and Infrastructure Security Agency, or SISA, as it faces adversaries armed with advanced AI. In recent weeks, Iran-linked hackers used AI to disrupt water and waste water facilities across several states. At a House Intelligence Committee hearing yesterday, Representative Raja Krishnamorthy, an Illinois Democrat, argued SISA needs increased resourcing to protect infrastructure. However, the agency announced its closing six regional security assessment programs and replacing them with a single consolidated assessment to streamline data. The move follows deep spending and job cuts over the past year. And activist investor Elliott Investment Management acquired a stake in Deutsche Telekom and is urging it to drop plans to merge with T-Mobile US.

2:04That's according to people familiar with the matter. Deutsche Telekom owns 54% of T-Mobile and has held discussions this year about combining the two two-stream line operations. The current status of any talks couldn't be learned. A source tells the journal that instead of a merger, Elliott wants Deutsche Telekom to boost shareholder returns through larger share buybacks. For a deeper dive into what's happening in tech, check out Friday's Tech News Briefing Podcast. Think all wealth managers are the same. Fisher investments is clearly different. As a fiduciary, Fisher always does what's best for its clients. They don't sell commission-based investment products or make commissions on trades. Their fees are structured so they do better when clients do better. That might be why many of their clients come from other wealth managers. Visit Fisherinvestments.com for more. Investing in securities involves the risk of loss.