On July 9 Xiaomi unveiled its second vehicle series, SkyNomad (Pengcheng). Lei Jun said the SU7/YU7 line is a "driver's car," while the Pengcheng series is an "intelligent, configurable large-cabin SUV."

Former US ambassador to Tunisia Joey Hood said US-Iran diplomatic efforts have run their course and that Iran’s attacks on commercial shipping show a discernible pattern. He said at least two strikes targeted Qatari vessels or ships carrying Qatari oil and LNG, and that many attacks appear aimed at Gulf states rather than the United States. Hood added US bases in the Gulf are mainly for training and exercises with few exposed personnel or equipment, and that the strikes are a deliberate signal to Gulf countries, especially mediators, to align with Tehran.

AI chip startup Positron is in talks on a two-stage financing round targeting about $750m. The company, which develops energy-efficient inference chips for AI models and is among firms seeking to challenge NVIDIA’s position, would be valued at roughly $3.5bn after the first tranche and as much as $5bn after the second. If completed, the deal would more than double Positron’s valuation in about five months. Investors include Valor Equity Partners, Atreides Management, DFJ Growth, Arm and Qatar Investment Authority.