Gasgoo Daily: Pony.ai Unveils New Autonomous Truck at IAA; Hesai, JD.com Join Forces on Physical AI; GAC Group to acquire FAW's stake in auto JV

JD Sports appointed John Mersho as North America CEO to drive growth in the region, which contributed 38% of group sales. The company also signed a deal to open over 140 stores in Mexico and manage its e-commerce there starting 2027.

JD Cloud and Moore Threads will collaborate on a 100,000-GPU cluster for AI tasks, using Chinese hardware. This is the first such cluster hosted by a major domestic AI cloud provider, according to JD Cloud. Moore Threads, a chip maker, went public on the Shanghai Stock Exchange in December 2025.

Michael Burry sold his stake in Alibaba (BABA), calling its shares overvalued and objecting to its $10.2B share sale for AI funding. He reinvested in JD.com (JD), citing easing competition in China's delivery market. Alibaba's hedge fund holdings decreased slightly, while JD.com's saw a minor increase.

Alibaba, Tencent, and JD.com are collaborating with Rokid to integrate their services into AI glasses, positioning them as a key ecosystem gateway. Rokid, a neutral player, holds 41% of the global waveguide AR glasses market share. The companies aim to leverage AI glasses for payments, office tasks, and e-commerce, with targets of 2 million units sold and $1 billion in revenue by 2028.

Chinese AI stocks surged after OpenAI released GPT-6 Astra, its most advanced AI model. MiniMax rose 6.5%, Baidu 4.6%, Kuaishou 4.2%, JD.com 4.1%, and Xiaomi 3.9%. Z.AI also gained. Both MiniMax and Z.AI reported significant revenue growth in H1, with Z.AI up 400% and MiniMax up 283%. Investor demand for MiniMax remains strong, with mainland Chinese investors heavily purchasing its shares.

JD.com reported a 2.9% YOY revenue decline to RMB 346.40 billion in Q2, but net income per ADS rose 20.7% to RMB 5.01. Analysts remain bullish, with a consensus price target of $40.30, suggesting 40% upside. Bernstein and Benchmark reiterated 'Outperform' and 'Buy' ratings, respectively, while Barclays lowered its target to $41.