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MiniMax is preparing to price its Hong Kong initial public offering at the top of the marketed range, signalling strong demand for artificial intelligence developers as investors seek exposure to homegrown technology firms with global ambitions, according to people familiar with the transaction.

The Shanghai-based company, best known for its large language models and consumer-facing AI applications, has accelerated its listing timetable amid a surge in interest for Chinese technology firms that are perceived to be less exposed to US trade and regulatory pressures. Bankers involved in the deal say early indications from institutional investors point to robust demand, particularly from Asia-based funds focused on long-term technology themes.

MiniMax, founded in 2021 by former SenseTime and Megvii researchers, has positioned itself as one of the country’s leading independent AI model developers. Its core products include general-purpose foundation models, AI companions and enterprise solutions used across gaming, education and content creation. The firm competes with larger players backed by internet conglomerates while marketing itself as more agile and research-driven.

People familiar with the IPO said the company is targeting a valuation that reflects the premium currently attached to AI-related listings in Hong Kong. While final pricing has not yet been approved, the expectation is that the offer will be set at the upper end of the range to capitalise on strong order books built during early marketing. The shares are expected to begin trading later this year, subject to market conditions and regulatory clearances.

The decision to push for top-range pricing comes as Hong Kong’s equity market shows signs of renewed momentum after a prolonged slowdown. Technology and healthcare deals have drawn increasing attention, supported by policy measures aimed at reviving capital markets and encouraging listings by innovative firms. Fund managers say AI remains one of the few sectors where investors are willing to pay up for growth, despite broader concerns over economic headwinds.

MiniMax’s IPO is also being closely watched as a test case for how investors value Chinese AI companies that operate largely outside the orbit of the country’s major internet platforms. Unlike peers that rely heavily on parent companies for distribution and funding, MiniMax has raised capital from a mix of venture investors and strategic backers, allowing it to retain greater operational independence. That positioning has resonated with some institutional investors seeking exposure to AI innovation without heavy platform risk.

The company has continued to expand its research capabilities, investing heavily in computing infrastructure and talent. Industry analysts note that MiniMax has been among the more visible Chinese developers releasing multilingual models and consumer applications that aim to compete with global offerings. Its emphasis on overseas markets, including Southeast Asia and parts of the Middle East, has helped broaden its revenue base and narrative ahead of the listing.

Still, the firm faces stiff competition. Domestic rivals supported by large technology groups benefit from vast user ecosystems and deep pockets, while international players continue to dominate cutting-edge model development. Pricing the IPO aggressively could raise expectations around execution and financial performance at a time when monetisation of AI remains uneven across the industry.

Market participants say Hong Kong has become a more attractive venue for such listings as regulatory scrutiny on technology firms has stabilised compared with earlier years. The city’s exchange has also updated listing rules to better accommodate companies with heavy research spending and limited near-term profitability, a profile that fits many AI developers.

Bankers involved in the transaction say MiniMax has highlighted its progress in commercialising products, including enterprise contracts and consumer subscriptions, to address investor concerns around sustainability. While the company is not yet profitable, it has signalled a clearer path to revenue growth than at earlier funding rounds, helped by rising demand for customised AI solutions among businesses.

Global charging technology brand CUKTECH has launched its first desktop super-fast charging station in Vietnam, marking a strategic push into Southeast Asia’s fast-growing market for high-power, multi-device charging solutions aimed at professionals and power users.

The CUKTECH 30 Ultra Charging Station enters a segment shaped by the rapid proliferation of laptops, tablets, cameras and high-capacity smartphones that increasingly demand desktop-class power delivery. The company said the device is designed for users who run several devices simultaneously, including content creators, developers and technology enthusiasts seeking a single hub that replaces multiple chargers without compromising speed or safety.

At the centre of the product is an ultra-high power output architecture capable of delivering fast charging across several ports at once, supported by intelligent power allocation that prioritises devices based on real-time demand. The station features a visual interaction interface that displays charging status, wattage distribution and thermal conditions, a move intended to give users greater control and transparency over how power is being delivered during intensive workloads.

Vietnam has emerged as a focal point for consumer electronics launches, driven by rising disposable incomes, a young digital-first population and the country’s growing role as a manufacturing and innovation hub. By choosing Vietnam for its first desktop charging station rollout, CUKTECH is signalling confidence in demand for premium accessories that support hybrid work, gaming and creative production environments.

Industry analysts note that desktop charging stations are evolving from simple multi-port adapters into intelligent power management devices. As laptops adopt higher-wattage USB-C standards and smartphones push faster charging thresholds, manufacturers are racing to balance speed with safety, heat control and long-term battery health. Products that fail to manage thermal loads or power negotiation effectively risk damaging devices or underperforming under sustained use.

CUKTECH’s 30 Ultra addresses these concerns with built-in safety systems that monitor temperature, voltage and current in real time, automatically adjusting output to protect connected devices. The company has highlighted compliance with international charging protocols, allowing the station to work across a wide range of brands and operating systems without proprietary lock-ins.

The launch also reflects intensifying competition in the charging accessories market, where established players and newer brands are vying to differentiate through design, smart features and ecosystem compatibility. Desktop charging stations, once niche products, are now being positioned as essential tools for modern desks, particularly as remote and hybrid work setups become permanent fixtures for many professionals.

For content creators, the appeal lies in the ability to power cameras, laptops, tablets and phones from a single device while monitoring output visually, reducing cable clutter and downtime. For businesses and co-working spaces, such stations offer a shared charging solution that can support multiple high-demand devices without the need for wall-mounted adapters or extension cords.

CUKTECH’s expansion strategy has drawn attention due to its roots in advanced charging research and its association with broader consumer electronics supply chains in Asia. The company has previously focused on portable power banks and fast chargers, building a reputation for high-wattage products that cater to users with demanding power needs. Moving into desktop charging stations represents a natural extension of that portfolio, while also placing the brand in direct competition with premium accessory makers targeting professional users.

Vietnam’s technology retail landscape has become increasingly receptive to such launches, with consumers showing greater willingness to invest in quality peripherals that promise durability and performance. Retailers have reported strong interest in fast-charging solutions that can future-proof desks as device power requirements continue to climb.

Market observers also point to regulatory clarity around USB-C and fast-charging standards as a factor accelerating adoption. As devices converge on common charging protocols, consumers are more confident that a single high-end station can serve multiple generations of hardware, improving value over time.

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AZX is a high-performance order-book DEX built on the innovative Axis technology. Aiming to “Compose All Finance“, AZX envisions providing feasible solutions to the fundamental challenges in cross-ecosystem asset flow and integration, offering a compelling long-term narrative around financial infrastructure innovation. As an auditable, high-performance bridge connecting traditional finance and decentralized finance, AZX positions itself at the forefront of the next evolution in global finance, with an ultimate ambition that goes beyond building another crypto DEX: to empower users and developers with the foundational layer to compose financial applications that were previously impossible.

BNW Developments has unveiled the Tonino Lamborghini Residences on Al Marjan Island, marking the first time the Italian luxury lifestyle brand has anchored a residential project in Ras Al Khaimah and setting a new benchmark for branded waterfront living in the northern emirate. The launch positions the privately held developer behind what it describes as Ras Al Khaimah’s largest private real estate venture at the centre of a market drawing growing international investor interest.

The project brings together BNW Developments and Tonino Lamborghini, the brand founded by the son of the legendary Italian carmaker, to deliver a design-led residential community that blends Italian heritage with contemporary coastal architecture. Planned as a large-scale, master-planned development, the residences are set on Al Marjan Island, a man-made archipelago that has emerged as the emirate’s most prominent tourism and lifestyle hub.

Executives involved in the announcement said the collaboration reflects a deliberate strategy to move beyond conventional luxury offerings towards globally recognised branded residences that command long-term value. For Ras Al Khaimah, the development underscores a shift towards higher-end projects aligned with the emirate’s tourism and economic diversification agenda, particularly as hospitality, leisure and residential segments converge along the coastline.

The Tonino Lamborghini Residences are being positioned as ultra-luxury waterfront homes, with interiors inspired by Italian craftsmanship and modern European aesthetics. Design elements are expected to reflect the brand’s signature language, incorporating bespoke materials, curated finishes and lifestyle-focused amenities. While detailed specifications and unit pricing have not been formally disclosed, the developer has indicated that the project targets high-net-worth buyers seeking branded homes with strong rental and capital appreciation potential.

BNW Developments has expanded rapidly within Ras Al Khaimah’s real estate sector, capitalising on policy reforms, infrastructure spending and rising tourism flows. Al Marjan Island, in particular, has become a focal point for premium residential and hospitality investments, supported by new resorts, entertainment attractions and improved connectivity. Property consultants tracking the market say branded residences on the island are increasingly appealing to overseas buyers from Europe, Asia and the wider Middle East, drawn by comparatively attractive entry prices and long-term growth prospects.

The arrival of Tonino Lamborghini adds another internationally recognised name to the island’s evolving skyline, reinforcing a trend in which global lifestyle brands are lending their identity to residential projects across the UAE. Analysts note that branded developments typically command a premium over non-branded counterparts, supported by perceived quality assurance, curated services and brand-driven design consistency.

Industry observers also point to Ras Al Khaimah’s regulatory environment and measured approach to development as factors supporting sustained demand. Unlike more saturated markets, the emirate has emphasised phased growth, balancing tourism expansion with residential supply. This has helped maintain pricing discipline while attracting developers focused on differentiated offerings rather than volume-led construction.

For BNW Developments, the Tonino Lamborghini partnership is intended to elevate its profile beyond a regional developer into a player capable of executing globally benchmarked luxury projects. Company officials have described the residences as a long-term investment in brand equity, aligning the developer with an internationally known lifestyle name while contributing to the emirate’s ambition to compete with established luxury destinations.

Tonino Lamborghini’s leadership has framed the project as a natural extension of the brand’s presence in hospitality, accessories and interior design, translating its identity into a residential environment shaped by coastal living. The brand’s involvement is expected to extend beyond naming rights to include design oversight and lifestyle integration, a factor often scrutinised by buyers in the branded residences segment.

The report estimates that the UAE currently supports about 8.5 million jobs across its economy, of which roughly 169,000 are technology-focused roles. While this represents only a small fraction of total employment, the pace of change is expected to intensify as organisations automate processes, modernise legacy systems and respond to new regulatory and security requirements. Analysts tracking the Gulf labour market say the country’s ambition to position itself as a global hub for digital services, advanced manufacturing and knowledge industries is translating into long-term workforce demand rather than short hiring cycles.

Economic planners have prioritised sectors that combine high productivity with export potential, including financial technology, health technology, clean energy systems, logistics platforms and smart infrastructure. Programmes aligned with national digital strategies are encouraging public bodies and state-linked firms to move services online, adopt AI-enabled decision tools and integrate data across departments. Each of these shifts creates secondary demand for software developers, data engineers, cloud architects and IT service managers, while also reshaping non-technical roles that require digital fluency.

ServiceNow’s analysis suggests that technology roles are expanding faster than overall employment growth, even as traditional sectors such as retail, hospitality and construction continue to add jobs. Employers surveyed for the study reported difficulty filling specialised digital roles, particularly in cybersecurity operations, enterprise platform management and AI workflow design. These shortages are contributing to wage premiums for experienced professionals and increased investment in training pipelines.

Education providers and corporate academies have responded by scaling certification programmes, apprenticeships and mid-career conversion schemes. Universities in the UAE have expanded computer science and engineering intakes, while partnerships with global technology firms aim to align curricula with enterprise needs. Industry observers note that demand is not limited to coders; roles in product management, digital compliance, IT service delivery and change management are growing as organisations seek to embed technology into core operations.

Demographics and migration policy also shape the employment outlook. The UAE’s ability to attract skilled expatriates remains a central factor in meeting talent requirements, particularly for niche technical expertise that takes years to develop. Long-term residency options and sector-specific visas have helped stabilise the workforce, reducing turnover in high-demand roles. At the same time, localisation initiatives encourage employers to invest in training citizens for private-sector technology careers, broadening the domestic talent base.

Beyond pure technology positions, the report highlights a rise in hybrid jobs that combine domain knowledge with digital skills. In banking, compliance specialists increasingly work alongside data analytics teams; in healthcare, clinicians are expected to engage with digital records and AI-assisted diagnostics; in energy and utilities, engineers manage sensor-driven systems and predictive maintenance platforms. This blending of skills expands the effective footprint of the tech workforce beyond headline job titles.

Regional competition for talent is intensifying as neighbouring economies pursue similar diversification strategies. Salaries, quality of life and career progression prospects are key differentiators, according to recruitment firms operating in the Gulf. The UAE’s mature infrastructure, regulatory clarity and concentration of multinational headquarters continue to attract professionals, though employers face pressure to offer flexible working arrangements and clear upskilling pathways.

The new model is designed around practical engineering workflows, with a focus on long-running task execution, stable tool calling, and multi-step reasoning, capabilities that have become increasingly important as developers deploy large language models in complex, agent-based systems.

Compared with its predecessor, GLM-4.6, GLM-4.7 shows notable gains in code generation, complex reasoning, and agent execution. According to Z.ai, the model delivers more consistent and controllable performance over extended tasks, while producing cleaner and more concise language output, addressing a common weakness in many open-source models.

To evaluate performance in realistic settings, Z.ai tested GLM-4.7 on 100 practical programming tasks in production-like environments such as Claude Code, spanning front-end, back-end, and command-execution scenarios. The company said GLM-4.7 achieved higher task completion rates and greater stability than GLM-4.6, and has since been adopted as the default model for its GLM Coding Plan.

Benchmark results also place GLM-4.7 among the strongest open-source models currently available. It scored 67.5 on BrowseComp and 87.4 on τ²-Bench, the latter marking a new high for open-source systems. In coding-focused evaluations, including SWE-bench Verified and LiveCodeBench v6, its overall performance approaches that of Claude Sonnet 4.5. In Code Arena’s large-scale blind evaluation, which aggregates votes from more than one million comparisons, GLM-4.7 ranked first among open-source models.

The model is available through the BigModel.cn API and has been integrated into Z.ai’s full-stack development platform, according to the company. As open-source models take on a more prominent role in the global technology ecosystem, Z.ai’s progress offers a clear indication of how such systems may continue to evolve, and what they might enable next.

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Stricter municipal requirements for private schools and learning facilities across Saudi Arabia have been issued by the Ministry of Municipalities and Housing, widening oversight of environmental quality, safety standards and urban planning as the kingdom continues to reshape its education landscape.

The updated framework applies to nurseries, kindergartens, schools and large educational complexes, covering private educational buildings established on land zoned for education as well as facilities built on government land leased to the private sector. It also extends to education facilities developed on plots allocated for commercial use, bringing a broader range of premises under a single municipal rulebook.

These revised rules aim to raise school standards, officials familiar with the changes say, by aligning environmental and safety benchmarks with national urban development goals. Municipal authorities will now assess new and existing private education facilities against clearer criteria for site suitability, building design, infrastructure access and community impact, with the stated objective of improving learning environments while reducing planning conflicts in fast-growing urban areas.

Environmental quality features prominently in the requirements. Schools and learning centres must meet stricter controls on waste management, ventilation, natural lighting and noise mitigation, particularly in densely populated districts. Municipal inspectors are expected to pay closer attention to how campuses manage traffic flow during peak hours and how outdoor spaces are designed to minimise heat exposure, reflecting broader sustainability priorities embedded in local planning codes.

Safety standards have also been expanded, with new specifications for emergency exits, fire prevention systems, accessibility for students with disabilities and safe pedestrian access. Facilities operating on leased government land will be subject to the same technical checks as those on privately owned plots, removing earlier ambiguities over compliance responsibilities between landlords and operators.

Urban planning considerations mark a significant shift in how private education projects are approved. The requirements link school licensing more tightly to neighbourhood zoning plans, population density and existing public services. Education facilities built on commercially zoned land must now demonstrate compatibility with surrounding uses, including retail and office developments, and show how student movement will be separated from heavy traffic and delivery routes.

Education sector specialists note that the changes reflect a growing emphasis on coordinated urban growth rather than piecemeal approvals. Private schooling has expanded rapidly over the past decade, particularly in major cities such as Riyadh and Jeddah, driven by demographic growth and rising demand for international curricula. Municipal authorities have faced mounting pressure to ensure that this expansion does not strain infrastructure or compromise safety.

Operators are being given clearer guidance on minimum plot sizes, building heights and setbacks, as well as requirements for green spaces and recreational areas. While the rules do not prescribe specific architectural styles, they emphasise functional design and durability, encouraging materials and layouts that support long-term use and lower maintenance costs.

For existing schools, the requirements introduce a phased compliance approach. Facilities already in operation will be required to align with the new standards within defined timeframes, with municipalities expected to prioritise critical safety and environmental upgrades. Education providers that fail to meet key benchmarks could face restrictions on licence renewals or limits on student capacity until deficiencies are addressed.

Private education investors and school operators are assessing the commercial implications. Some developers see higher upfront costs, particularly for projects planned on commercial land where redesigns may be needed to meet zoning compatibility rules. Others argue that clearer standards reduce regulatory uncertainty and improve asset quality over time, making compliant schools more attractive to parents and financiers.

The rules also intersect with broader national reforms aimed at improving quality of life and diversifying the economy under long-term development strategies. By tightening oversight of private education facilities, authorities are signalling that growth in the sector must be matched by higher standards of safety, sustainability and urban integration.

Municipal officials say enforcement will rely on closer coordination with education regulators to avoid duplication and ensure consistent interpretation of requirements. Digital permitting systems are expected to play a larger role in tracking compliance and scheduling inspections, although detailed implementation guidance is still being rolled out at the local level.

Thailand is moving quickly to reshape the digital map of Southeast Asia, with a surge in data centre construction and artificial intelligence investment shifting the country from a long-standing data transit role to a regional convergence point. New facilities clustered around Bangkok, Chonburi and the Eastern Economic Corridor are altering traffic flows, shortening latency across borders and drawing cloud, AI and content providers seeking scale outside established hubs.

The expansion reflects a change in how data moves across the region. Historically, much east-west traffic between South Asia, Greater China and the Pacific routed through Singapore before fanning out. With hyperscale campuses multiplying in Thailand, workloads are increasingly being processed and stored closer to end users, easing congestion and improving resilience. Network operators say the shift is visible in peering arrangements and cross-border fibre utilisation, with Bangkok emerging as a preferred interconnection point.

Policy has been a key driver. Authorities have offered investment incentives, fast-tracked permits and clarified power and land-use rules to attract large campuses. Grid upgrades and new renewable capacity have been prioritised to address the energy intensity of AI-ready facilities. The strategy aligns with a broader push to anchor higher-value digital services domestically, from cloud platforms and analytics to language models and industry-specific AI tools.

Global technology firms are responding. Cloud providers including Google, Microsoft and Amazon Web Services have expanded or announced investments to serve regional customers from Thai infrastructure, while chipmakers and systems integrators are working with local partners to deploy accelerated computing suited to AI training and inference. Industry executives cite Thailand’s central geography, improving power availability and maturing regulatory environment as decisive factors.

Domestic players are also scaling up. Telecom operators and property developers have formed joint ventures to build carrier-neutral sites, while energy companies are pairing data centres with solar and gas assets to stabilise supply. Universities and research institutes are increasing AI programmes to address talent gaps, with a focus on data engineering, cybersecurity and model governance. The goal is to ensure that infrastructure growth translates into local capability rather than pass-through capacity.

Competition across the region remains intense. Singapore retains strengths in finance, regulation and dense interconnection, but land and power constraints have pushed expansion elsewhere. Malaysia and Indonesia are adding capacity to serve fast-growing domestic markets, while Vietnam is drawing manufacturing-linked digital workloads. Against that backdrop, Thailand is positioning itself as a neutral aggregation point serving multiple neighbours within ASEAN, balancing scale with proximity.

Connectivity improvements underpin the shift. New submarine cable routes landing on both coasts, alongside terrestrial links to neighbouring countries, are diversifying paths and reducing dependence on a single choke point. Operators say this redundancy matters as enterprises distribute AI workloads across regions for cost, performance and regulatory reasons. Financial services, e-commerce and media firms are increasingly adopting multi-cloud strategies that favour locations offering reliable interconnection.

AI demand is shaping design choices. Facilities are being built with higher power densities, advanced cooling and space for accelerated hardware to support model training, while edge nodes closer to population centres handle inference and latency-sensitive tasks. This layered approach is changing how content delivery, language services and real-time analytics are deployed across Southeast Asia.