The Information:
Sources: Cursor hit $2.7B in annualized sales in March, up ~14x from a year ago, and reported a nearly $900M loss in its past fiscal year on ~$770M in revenue  —  Weeks before Cursor agreed to a $60 billion potential takeover from SpaceX, the hot AI coding startup set out to raise billions of dollars.

Ben Jiang / South China Morning Post:
China's top market regulator says it is launching a six-month crackdown on the country's online ad sector, targeting malpractices including the misuse of AI  —  Market watchdog flags AI abuse and traffic-driven tactics as it launches first campaign to overhaul online advertising

Bloomberg:
The AI boom has pushed the market cap of Shenzhen-listed Zhongji Innolight, a leading optical communications device maker, close to $146B, a record high  —  Chinese optical stocks are attracting growing investor interest on expectations that rising demand for optical components critical …

South China Morning Post:
DeepSeek V4 Pro has 1.6T total parameters, its largest model by that metric, and V4 Flash has 284B parameters; both models have a context window of 1M tokens  —  The company says its cost-efficient new V4 model is competitive with top closed-source models from OpenAI and Google DeepMind

Reuters:
Huawei says its Ascend supernode based on the Ascend 950 AI chips will fully support DeepSeek V4, as DeepSeek launches a preview of its V4 model  —  Huawei Technologies said on Friday its Ascend supernode based on Ascend 950 AI chips would fully support Deepseek's V4 versions …