Chapter 892: Chapter 671: Technology and Industry_3
For Chen Pingsheng, traditional industries no longer pose any challenges. His next plan, apart from developing the best AI autonomous driving technology, is to create an AI-smart smartphone.
Disrupting the existing smartphone market might be too much to say. After all, both Apple and Google have been working on this for a long ti.
He simply needs to break into the current smartphone market, and AI is the best opportunity to do so.
Otherwise, with the investnts he has already made, who knows how many years it will take to recoup his costs.
Relying on trivial profits made through AI avatars livestreaming is completely unrealistic.
Globally, apart from automobiles, smartphones represent the largest market.
The fastest way to break into the smartphone market would be to directly acquire a company with a significant global market share.
This would help accumulate the foundational patents and access to the market needed in the initial stages.
Chen Pingsheng isn’t in a rush—he wouldn’t embark on this without a solid grasp of the AI sector.
After all, the smartphone market is already fiercely competitive.
The dostic market has been nearly divided up entirely.
For at least the past ten years, no new smartphone brands have erged; it’s still the sa few players maintaining dominance.
The high-end market belongs to Huawei and Apple.
The mid-to-low-end market features Xiaomi and Honor, while the budget segnt has OPPO and Vivo with their “blue-green factories.”
This field is unbelievably crowded.
For now, his focus remains on the AI sector, waiting to secure a competitive edge or advanced technology before moving forward.
April 2023, temperatures rise.
Chen Pingsheng elevated artificial intelligence to the core of strategic direction, investing an additional five hundred billion US dollars over six months into the endeavor.
The listing of Tengfei New Energy was already a foregone conclusion—everyone had high expectations.
Speaking of car manufacturing, he has beco the largest investor in the dostic scene.
Massive funding has been poured into core AI technology, which is being independently budgeted.
This ans that the financial report for the AI division won’t affect Tengfei Automobile.
However, its technology will bring infinite benefits to Tengfei New Energy.
To put it bluntly, the stock market is betting on expectation—whether it’s Tengde Era’s solid-state battery or Tengfei AI’s artificial intelligence, as long as one division achieves a breakthrough.
Each could bring massive benefits to Tengfei Automobile.
Tengfei New Energy went public on the Hong Kong Stock Exchange with a valuation of 400 billion.
Chen Pingsheng personally diluted 49% of his shares, allocating 30% to core managers and the R&D team.
From the dilution of his shares alone, he cashed out nearly 200 billion US dollars in one go, yet even that couldn’t offset seven to eight years of continued investnt.
From this 200 billion US dollar cash-out, 50 billion US dollars were earmarked for Tengfei New Energy as future R&D funding.
This was the last substantial R&D funding that Tengfei New Energy would receive.
From now on, it would need to rely on itself—whether through the high-end Longteng S900 or the P9, U5, and D6—all of which were selling exceptionally well.
At least dostically, the sales were truly outstanding.
They consistently ranked just below Tesla in sales.
When grouped together, their total sales volu had already surpassed Tesla’s.
However, for individual models, they still lagged behind Tesla’s Model Y. This car performs exceptionally well in first-tier cities, especially in Jiangsu, Zhejiang, and Shanghai, where it’s incredibly common.
After obtaining this 150 billion US dollar fund, Chen Pingsheng allocated 30 billion US dollars to Tengfei AI.
The remaining 120 billion US dollars were all invested into Microsoft during its trough.
At its peak, Microsoft’s market valuation reached 2.5 trillion US dollars, with annual net profits of roughly 70 billion US dollars.
Due to last year’s disappointing financial report, with net profits down 12% year-on-year, Microsoft’s valuation had fallen back to 1.65 trillion US dollars.
With his 120 billion dollar investnt, he could only secure about 1% of the company’s shares.
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