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June 9th - According to the Financial Times, Apollo Global Management and Blackstone Group have finalized a $35 billion private credit deal to fund Anthropics growth plans. This deal, spearheaded by these two private equity giants, is one of the largest private credit financings to date, as Wall Street banks and investment firms continue to pour money into the artificial intelligence boom. The funds will help Anthropic purchase chips developed by Alphabet. This deal highlights investors enormous enthusiasm for AI and their willingness to invest heavily in supporting the data center infrastructure and computing power needed by companies like Anthropic, OpenAI, and Meta. Neither Apollo nor Blackstone has commented on the matter.On Tuesday, June 9, the Hang Seng Index opened down 105.13 points, or 0.43%, at 24,551.93; the Hang Seng Tech Index opened down 12.39 points, or 0.26%, at 4,743.52; the H-share Index opened down 27.8 points, or 0.33%, at 8,313.56; and the Red Chip Index opened down 21.48 points, or 0.5%, at 4,313.91.Hong Kong stocks opened lower, with the Hang Seng Index down 0.43% and the Hang Seng Tech Index down 0.26%. AI applications, innovative drugs, chips, leading tech companies, and new energy vehicle companies were among the top gainers. Contron (01912.HK) resumed trading with a surge of over 110%, after receiving a mandatory cash offer from Zhuangyan-Investment-International.Hang Seng Index futures opened down 0.23% at 24,507 points, a discount of 150 points.June 9th - Shanghais car trade-in subsidy program has been adjusted to an instant lottery system. On the night of June 8th, the Shanghai Municipal Commission of Commerce issued an announcement regarding the adjustment of the lottery method for the 2026 Shanghai car trade-in subsidy program. The announcement states that from June 9th to September 30th, 2026, eligible individual consumers can register for the instant lottery through the "Government Services - Car Trade-in Subsidy Application" portal on the "Shanghai Commerce" WeChat official account from 7:00 AM to 10:00 PM daily.

Tesla discloses efforts to advocate for a facility in Canada

Aria Thomas

Aug 10, 2022 10:43

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Tesla (NASDAQ:TSLA) Inc is pressing the Ontario government to create an "advanced manufacturing factory" in Canada, according to a document with the province's Office of the Integrity Commissioner.


According to the company's July 18 filing, its Canadian business is engaging with the government to "examine opportunities for industrial facility permitting enhancements."


Tesla and the ministry of economic development, job creation, and trade in Ontario did not immediately respond to requests for comment.


In May, the Canadian Minister of Industry, Francois-Philippe Champagne, announced that "very active negotiations with a number of stakeholders" were taking place in order to construct an EV supply chain in Canada.


Elon Musk, CEO of Tesla, joked to shareholders last week, "We've got a lot of Canadas, I'm half Canadian, maybe I should" in reference to the company's expanding output.


According to him, the company "may be able" to announce a new facility by the end of the year, and in the future, it may have ten to twelve gigafactories. Two of Tesla's production sites are located in the United States, while one each is located in Germany and China.


By sourcing components and producing vehicles closer to home, electric-vehicle makers in the United States are aiming to diversify their supply chains and lessen their reliance on China, the world's largest supplier of EV batteries.


Such efforts might be boosted by a $430 billion bill passed by the U.S. Senate on Sunday, which restricts automakers' use of Chinese-made parts by progressively increasing the percentage of battery components imported from North America.


After 2023, vehicles with batteries containing Chinese components may no longer be eligible for the credit, and restrictions may be placed on the supply of critical minerals.

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