Welcome to Seeking Office's Wall Street Breakfast, where we cover the top news for investors every morning.

Good morning. Today is Monday, July 28th, and I'm your host, Kim Khan, filling in for Julie Morgan.

China's Zipu AI is releasing its biggest open source model to date, joining a growing number of

Chinese firms ramping up their free artificial intelligence offerings.

Bloomberg says the startup will release GLM 4.5, an update to its flagship model as soon as today.

One of China's AI Tigers, Z-H-I-P-U, has been flagged by OpenAI as a rising rival that benefits from ties to the

Communist Party. Backed by Alibaba and Tencent, among others, Jipu recently raised $1 billion,

$140 million, from a state-owned venture capital firm in Shanghai and its parent group,

Jiangjing Group. Bloomberg reported earlier this month that Jee-Poo is considering moving its planned IPO

to Hong Kong instead of mainland China.

A potential first-time share sale could raise about $300 million.

Tesla CEO Elon Moss has confirmed that the EV maker has signed a $16.5 billion

semiconductor supply deal with Samsung Electronics, identifying Tesla as the unnamed party in a regulatory

filing posted by the South Korean Tech giant. Samsung's giant new Texas Fab will be dedicated

to making Tesla's next generation AI6 chip. The strategic importance of this is hard to

overstate, must post it on X, adding, Samsung currently makes AI4. TSM will make AI5, which just finished design,

initially in Taiwan and then Arizona. He also emphasized Tesla's active involvement in the

manufacturing process. Samsung agreed to allow Tesla to assist in maximizing manufacturing efficiency.

This is a crucial point, as I will walk the line personally to accelerate the pace of progress,

he said.

Samsung's filing says the contract begins July 26, 2025, and runs through December 31, 233.

And Baidu unveiled its next generation digital human technology called NOVA for professional-level

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