TECfusions to go public in $4 billion SPAC merger with Apex Treasury

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[1] U.S. Data-Center Operator TECfusions Plans to Go Public in $4 Billion SPAC Deal - WSJ (https://www.wsj.com/finance/investing/u-s-dat ...)[2] TECfusions, a Rapidly Growing Developer and Operator of AI-Ready Data Centers and Power Infrastructure, Signs Business Combination Agreement with Apex Treasury Corp. (https://markets.businessinsider.com/news/stoc ...)[3] U.S. Data-Center Operator TECfusions Plans to Go Public in $4 Billion SPAC Deal (https://www.msn.com/en-us/money/companies/us- ...)[4] Data Center Operator To Go Public Via SPAC Merger At $4B Valuation (https://www.bisnow.com/national/news/data-cen ...)[5] The American Chip Boom Picks Winners: TXN, INTC, and QRVO at Current Share Prices (https://247wallst.com/investing/2026/07/23/th ...)

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Jul 23 2026, 07:38

LNG buyers press Qatar, UAE for price cuts after 42% JKM surge

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Jul 23 2026, 07:34

Citi starts 30-day catalyst watch on Horizon Robotics after VW deal

Citi initiated a 30-day positive catalyst watch on Horizon Robotics after the company deepened its autonomous driving partnership with Volkswagen Group. The cooperation will contribute approximately RMB 3 billion in licensing revenue over three years, equivalent to 10-12 percent upside potential for gross profit margin, Citi analysts said. Citi maintained a Buy/High Risk rating with a HKD 12.3 price target, implying about 159 percent upside from the current price of HKD 4.75. CARIZON, the joint venture between Volkswagen and Horizon Robotics, will adopt the company's AI foundation large model licensing model to develop a unified autonomous driving technology platform. The partnership positions Horizon Robotics as a key autonomous driving supplier to one of the world's largest automakers. The broker also expects BYD's "God's Eye" solution to drive market share growth, with competitiveness expected to improve in the second half of 2026. The 30-day catalyst watch is based on the view that the cooperation news will help improve market sentiment, Citi said. Short selling data as of July 23 showed short selling of HKD 188.1 million, representing 33.1 percent of turnover. The RMB 3 billion licensing revenue estimate assumes other conditions remain unchanged, the analysts noted. The gross margin upside of 10-12 percentage points reflects the high-margin nature of the licensing model versus hardware sales. Horizon Robotics, which listed on the Hong Kong Stock Exchange in October 2024, has been expanding partnerships with global automakers beyond its traditional Chinese customer base. The deepened VW cooperation follows the establishment of CARIZON in 2023 as a joint venture focused on autonomous driving solutions for the Chinese market. The Citi call signals growing institutional confidence in Horizon Robotics' licensing revenue model. Investors will watch for further partnership announcements and the ramp-up of BYD's "God's Eye" adoption as the next catalysts. This article is for informational purposes only and does not constitute investment advice.

Jul 23 2026, 07:32

China resumes robotaxi permits after 3-month freeze on new licenses

**China has resumed issuing robotaxi licenses after a three-month freeze triggered by a Baidu autonomous vehicle outage in Wuhan, clearing the path for companies including Momenta and Baidu to restart operations.** Chinese regulators resumed issuing robotaxi permits after a three-month suspension, allowing Momenta to restart trials in Shenzhen and showing that Baidu's Apollo Go operations in Wuhan may also recover. "The resumption is occurring gradually in some cities following the completion of an industry-wide review in late June," people familiar with the matter told Bloomberg, declining to be identified as they were not authorized to speak to media. Regulators suspended new autonomous driving permits in April after more than 100 Baidu robotaxis suffered a system malfunction on roads in Wuhan on March 31, stranding passengers and causing traffic disruptions. The incident triggered a full safety review across the industry that concluded in late June. The freeze had stalled China's fast-growing robotaxi sector, where companies including Baidu, Pony.ai, WeRide and Momenta had been racing to expand commercial operations. The resumption allows these companies to return to their growth trajectories, with Shenzhen becoming a key testbed after amending its intelligent connected vehicle regulation to explore opening the entire city to robotaxis. Momenta announced on July 21 that it received a permit for intelligent connected vehicle road testing in Shenzhen, making the southern tech hub its fourth core city in China after Shanghai, Suzhou and Wuxi. The company was among the first to receive a permit under the resumed licensing regime, according to the Bloomberg report. Baidu's operations in Wuhan, the central Chinese megacity that had become the company's flagship robotaxi market, are also showing signs of recovery. Since early July, local residents have posted videos and photos on Chinese social media showing Apollo Go vehicles back on the streets, some with safety drivers inside. Hundreds of Baidu's robotaxis had been pulled from service because of the safety review. The March 31 incident involved dozens of Apollo Go robotaxis stalling on Wuhan roads, with some passengers stranded on a busy elevated road. Wuhan traffic police said at the time that a preliminary investigation showed the incident was caused by a system malfunction. Some local media reports cited industry insiders as saying the vehicles likely stalled after encountering unexpected situations that triggered a safety self-check mechanism. Shares of Chinese autonomous driving companies rose on the news. Baidu's Hong Kong-listed stock (9888.HK) gained 2.6%, Pony.ai (2026.HK) climbed 3.3%, and WeRide (800.HK) added 0.3% on July 23. Momenta (6880.HK) also traded higher after announcing its Shenzhen permit earlier in the week. The regulatory green light removes a key overhang for the sector. Before the freeze, China had been among the most aggressive markets globally for robotaxi deployment, with Baidu's Apollo Go operating the country's largest autonomous ride-hailing fleet. The resumption suggests regulators are satisfied with the industry's safety protocols after the review, though the gradual pace of license issuance indicates continued caution. This article is for informational purposes only and does not constitute investment advice.