--- title: "AI Names Rush to IPO; MRVL Surges as Compute Demand Runs Hot | Daily News Recap" type: "Topics" locale: "en" url: "https://longbridge.com/en/topics/41419297.md" description: "0603 ｜Dolphin Research focus: 🐬 Stock 1, $Microsoft(MSFT.US) announced seven in-house, full-stack MAI models at the Jun 2 Microsoft Build developer conference, spanning reasoning, coding, and multimodal vision. The flagship reasoning model, MAI-Thinking-1, is positioned against Claude, while coding performance is on par with Anthropic's top-tier version.In parallel, Microsoft is building a 'thinking + coding' agent product matrix. The goal is to reduce reliance on external models beyond its tie-up with OpenAI..." datetime: "2026-06-03T08:26:27.000Z" locales: - [en](https://longbridge.com/en/topics/41419297.md) - [zh-CN](https://longbridge.com/zh-CN/topics/41419297.md) - [zh-HK](https://longbridge.com/zh-HK/topics/41419297.md) author: "[Dolphin Research](https://longbridge.com/en/news/dolphin.md)" --- # AI Names Rush to IPO; MRVL Surges as Compute Demand Runs Hot | Daily News Recap ## 0603 | **Dolphin's Focus** ## **🐬 Single Stocks** **1.**$Microsoft(MSFT.US) At the Jun 2 Microsoft Build, the company unveiled seven in-house, full-stack MAI models spanning reasoning, coding, and multimodal image tasks. The flagship MAI-Thinking-1 reasoning model targets Claude, while coding performance matches Anthropic's premium tier, and Microsoft rolled out a 'thinking + coding' agent lineup to lessen dependence beyond OpenAI. The AI strategy is shifting from primarily proxying OpenAI to a dual track of self-built plus partnerships. In-house models help control cloud-invocation costs and go straight after enterprise and developer demand, directly contesting Anthropic's customers. **2.**$Marvell Tech(MRVL.US) At Computex, Jensen Huang said Marvell could grow into a $1tn company. NVIDIA already holds a strategic stake and is partnering with Marvell on AI cluster interconnect, while Marvell just launched its 102.4Tbps flagship switch T100, with data center momentum rising. Shares spiked on the comments. NVIDIA's endorsement boosts confidence in high-speed interconnects, lifting U.S. compute hardware and sentiment across China optical comms and CPO plays; Dolphin Research will publish a CPO deep dive tonight. **3.**$TENCENT(00700.HK) Market chatter suggests WeChat's AI agent has completed prototype testing and could start compliance review as early as Jun, with a right-swipe invocation and integration across all mini programs for everyday services. Management, however, stressed there is no firm launch timeline given massive concurrent traffic, privacy compliance, and model adaptation constraints. The project is the firm's top AI priority, with continuous iteration to optimize base models. **4\. Anthropic** Anthropic announced it confidentially submitted an S-1 draft registration to the U.S. SEC, formally kicking off its IPO process. In late May, it closed a $65bn Series H, implying a $965bn post-money valuation, surpassing OpenAI to become the highest-valued unlisted AI company. The market expects a listing as early as Q4 2026. Going public would provide ample capital to scale compute and R&D. **5.**$Arm(ARM.US) At Computex, Arm announced mass production of its in-house AGI CPU, delivering 2x x86 performance at the same power. Customers include Meta, OpenAI, ByteDance, and Oracle, and NVIDIA's RTX Spark PC chips adopt Arm's architecture. This marks Arm's move from pure IP licensing into in-house chip manufacturing, reshaping the global CPU and PC chip landscape. **6.**$BYD COMPANY(01211.HK) In Mar, BYD launched its flash-charging strategy, targeting 20k MW fast-charge sites this year, including 18k urban in-hub stations and 2k highway service-area stations. Powered by its 2nd-gen Blade battery, a 5-min flash charge can reach 70%, and by mid-May nearly 6k sites were live across 312 cities, with buyers getting one year of free fast charging. Automakers are doubling down on charging infrastructure to build moats, counter Tesla Supercharger and Nio swap, and support sales. However, capex is heavy, and profitability depends on monetizing charging services alongside the vehicle ecosystem. **7.**$KUAISHOU-W(01024.HK) Kuaishou is reportedly spinning off its AIGC video unit Kolin AI for a first standalone round, structured as a pre-IPO raise with a $18bn pre-money valuation. Internal plans target an HK IPO filing in early 2027. The AI unit's valuation is approaching the parent's HK market cap, underscoring the premium on generative video. Such a rich multiple requires rapid revenue realization; if overseas paid growth slows, IPO valuation could reset. **8\. Tencent/CATL** DeepSeek has reportedly secured its first external round, raising Approx. RMB 50bn at a $52–59bn post-money valuation. Tencent plans to invest RMB 10bn and CATL RMB 5bn as lead external backers, with NetEase and JD in late-stage talks, while founder Liang Wenfeng will commit RMB 20bn, with proceeds earmarked for compute clusters and proprietary foundation model infrastructure. This funding would accelerate DeepSeek's compute ramp and signal a shift from solo efforts to cross-supply-chain alliances in China's AI sector, aiding faster commercialization of domestic LLMs. Note these items are not yet officially announced. **9\. Dolphin's earnings and calls watchlist** Didi: '[Mature at home, doubling down overseas — Is Didi's future 'International Didi'?](https://longbridge.cn/zh-CN/topics/41396395?channel=WHAB0001)' ## **🐬 Leaders** **A-shares:** multiple utilities, communications equipment, computer and electronics retailers； **HK:** security and alarm services, packaging, industrial chemicals； **U.S.:** electronic components, coal and consumable fuels, aluminum ## **🐬 Watch for tomorrow** **1.** Broadcom reports earnings. 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Any insights?