China's Xiaomi to Raise up to $5.27 Billion from Share Sale 

Xiaomi's new EV sedan SU7 Ultra is displayed during a launch event in Beijing, China February 27, 2025. (Reuters) 
Xiaomi's new EV sedan SU7 Ultra is displayed during a launch event in Beijing, China February 27, 2025. (Reuters) 
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China's Xiaomi to Raise up to $5.27 Billion from Share Sale 

Xiaomi's new EV sedan SU7 Ultra is displayed during a launch event in Beijing, China February 27, 2025. (Reuters) 
Xiaomi's new EV sedan SU7 Ultra is displayed during a launch event in Beijing, China February 27, 2025. (Reuters) 

China's Xiaomi Corp is raising up to $5.27 billion in a top-up placement on Monday, according to a term sheet seen by Reuters.

The shares are being sold in a HK$52.80 to HK$54.60 price range, the term sheet said.

The smartphone maker, which began manufacturing electric vehicles (EVs) last year, is selling 750 million Class B shares and the price range represents a 4.2-7.4% discount to the company's HK$57 closing price on Monday.

The money raised is earmarked for business expansion, investment in research and technology development and general corporate purposes, the term sheet said.

Xiaomi did not respond immediately to a request for comment.

EV manufacturer BYD this month raised $5.59 billion in Hong Kong's largest share sale in four years.



Sam Altman Says Meta Offered $100 Million Bonuses to OpenAI Employees 

The logo of Meta is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 11, 2025. (Reuters) 
The logo of Meta is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 11, 2025. (Reuters) 
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Sam Altman Says Meta Offered $100 Million Bonuses to OpenAI Employees 

The logo of Meta is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 11, 2025. (Reuters) 
The logo of Meta is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 11, 2025. (Reuters) 

OpenAI CEO Sam Altman said Meta has offered his employees bonuses of $100 million to recruit them, as the tech giant seeks to ramp up its artificial intelligence strategy.

The alleged attempts by Meta to hire OpenAI staffers are the latest signs of a frenzy to hire top engineers to develop AI models, and they come at a time when the Facebook owner is working on building its superintelligence unit to catch up with competitors.

Competition for AI talent has reached a feverish pitch as superstar researchers are being courted like professional athletes on the belief that individual contributors can make or break companies.

"They (Meta) started making giant offers to a lot of people on our team," Altman said on the Uncapped podcast that aired on Tuesday, hosted by his brother. "You know, like $100 million signing bonuses, more than that (in) compensation per year."

"At least, so far, none of our best people have decided to take them up on that," Altman said.

Meta did not immediately respond to a request for comment outside regular business hours, and Reuters could not verify the information.

"I've heard that Meta thinks of us as their biggest competitor," Altman said.

His comments come just days after Meta invested $14.3 billion in data-labeling startup Scale AI, and hired its top boss, Alexandr Wang, to lead its new superintelligence team.

Meta, once recognized as a leader in open-source AI models, has suffered from staff departures and has postponed the launches of new open-source AI models that could rival competitors like Google, China's DeepSeek and OpenAI.