The Birth of Shanghai's First Conglomerate

Days passed by in a blur, and before we knew it, it was late May.

Although the disease is spreading on a small scale in various places, it has not had much impact on the overall market.

At least that's the case for Tencent Group, especially after Chen Pingsheng personally contributed 800 million yuan, which brought jubilation to the entire Kingsoft headquarters.

The oppressive atmosphere of before is gone.

In particular, Tengfei New Energy announced an overseas investment of 150 billion to 200 billion yuan to build a factory.

It seems everyone knows that the group is not short of money.

To be honest, he is not short of money.

In mid-May, Chen Pingsheng once again contributed 0.5% of Tesla shares.

It is expected to raise US$26 billion, and the plan is to use the RMB180 billion to complete the construction of Ascendas New Energy's North American factory.

This also made it one of the earliest new energy companies in China to establish factories overseas.

Forgot about Jia Yueting, who's returning to China next week. He's the only entrepreneur in the world who described building cars as more difficult than humanity landing on the moon.

He's also a talented individual; he was one of the earliest car manufacturers in China, and he's also the one who manages to produce one car per year, albeit slowly and painstakingly.

He's still the one constantly creating new terms in the new energy field, such as ecological chemical reaction, ultimate technology luxury, ultimate price-performance ratio, Sino-US automotive bridge strategy, silicon-based new species, smart carpet, Volkswagen mass production models, and triple boundary-breaking chemical reaction, etc.

If you don't listen to his own explanation, these new terms could make your computer smoke.

Not to mention understanding it.

Anyway, Chen Pingsheng still doesn't know what he means by those words.
Jia will definitely not be able to return to China next week, and Xu's car manufacturing project is making a huge splash.

They've been buying up all sorts of things overseas, claiming they want to buy back all the core automotive technologies.

If you look closely at his company's senior management team, you'll see that they are all sales personnel.

What do you mean?

When sales executives become senior managers, their core focus is marketing, and they don't pay much attention to technology.

Unlike his Tengfei New Energy, whose core team consists of top-level technical and management personnel.

Despite maintaining a low profile, Tengfei New Energy chose to hold a domestic press conference on May 20th.

The gist of it is explaining why they want to build in North America.

The goal is to globalize Tengfei New Energy, rather than limiting itself to the domestic market.

The first overseas super factory is expected to have an investment of between 150 billion and 200 billion.

The planned annual production volume is 200,000 units per year.

This is undoubtedly a big goal, and it also means that Tengfei New Energy will firmly and pragmatically move towards globalization.

As soon as the news broke, it was featured on the front page of both financial channels and major technology news outlets across China.

They even invited numerous experts to analyze the feasibility of this decision.

There has been a prevailing opinion in China that new energy technology has become world-class.

That's what they say, but if no global users are buying into it, it's all just self-congratulatory behavior.

The excitement in China is just temporary; Jia, who dared to build factories overseas, will return to China next week.

Producing just one unit a year and holding a grand delivery ceremony is simply embarrassing for them overseas.

Tesla's soaring market value also signifies that new energy technology is indeed a trend.

However, this trend will only be meaningful if it gains a foothold globally.

Undoubtedly, Tengfei New Energy is at the forefront.

Because of this decision, Chen Pingsheng also accompanied the top leaders to two top global economic conferences.

By the time he finished his work and returned to China, it was already the end of May.

The North American Gigafactory is not expected to be completed until 2022, but Chen Pingsheng, who has returned from overseas, has made another decision.

That means increasing investment in the artificial intelligence sector, which is also where the final battleground for new energy vehicles will ultimately be.

Artificial intelligence encompasses three key technologies: breakthroughs in computing power, the deluge of data, and algorithmic innovation.

It is also known as one of the world's three cutting-edge technologies, and is also one of the most important technologies in the new era.

Its mainstream development adopts deep learning algorithms, large models, and big data. The artificial intelligence technology system includes machine learning, natural language processing, image processing, and human-computer interaction technologies.

Currently, Nvidia is undoubtedly the company that has achieved the greatest success in the field of artificial intelligence.

Whether it's Apple, Google, Tesla, Microsoft, or other mega-tech companies.

The core development direction at present is the artificial intelligence sector.

Artificial intelligence has now achieved remarkable results in many fields, including big data analytics, autonomous driving, smart finance, and intelligent robots.

This has led to a diversified development direction.

In addition, artificial intelligence can replace some traditional labor, resulting in a labor crowding-out effect.

While improving social productivity, it will also create new jobs for society.

When it comes to artificial intelligence technology abroad, it has already developed to the level of an eleven or twelve-year-old child.

Domestically, it's at most in its infancy; everything is still in the gestation stage.

Chen Pingsheng decided to increase investment in the artificial intelligence sector after attending those two top global economic conferences.

He has actually invested over 40 billion yuan in this sector and has spent nearly five years developing it.

The company possesses at least a thousand patented technologies, placing it in an absolutely leading position domestically.

Second only to Baidu, which has been deeply rooted in this field for over eight years.

But that's far from enough. At least when he looked at the core artificial intelligence technologies from abroad, the gap was simply too obvious.

Chen Pingsheng made another great decision: when he needed money, he cashed out Tesla.

He cashed out 1.5% this time, which is expected to bring him $80 billion.

That's equivalent to 560 billion RMB.

Half of the funds will be redirected to invest in Nvidia, and the other half will be used to build the world's largest artificial intelligence technology industrial park in Jinshan District, Shanghai.

He also specifically called Xiao Ya back and asked her to come with him to meet the leaders of Jinshan ahead of time.

Such a large science and technology industrial park is of immense significance to Jinshan.

This can greatly boost the attraction of top talent to Jinshan.

For national-level science and technology industrial parks like this, not only is land expensive, but the local government will also offer many preferential policies as long as you come.

According to Chen Pingsheng's regulations, he was planning to acquire more than 300 mu of land.

The planned construction cost is 150 billion yuan, with the remaining 130 billion yuan used to attract talent and launch this largest artificial intelligence research center in China.

This was Xiao Ya's first time showing her face in Jinshan, and she made quite a splash.

Although the leaders didn't say it outright, everyone immediately understood when they heard Chen Pingsheng's idea that she should become a civil servant in the future.

This was brought out to pave a road, and it's a road that leads to the heavens!

Chen Pingsheng's goal was not high; he planned to spend ten years helping Xiao Ya become a division-level cadre.

If you can reach the hall before the age of forty, that's already quite good.

He kept reducing his Tesla shares until he only had 1% left.

After Nvidia increased its stake by another 280 billion RMB, its shareholding has now risen to 5%.

Whether he can truly achieve great success in the field of artificial intelligence in the future depends on whether Nvidia can break through the trillion-dollar mark.

After all, this sector is where cutting-edge technology companies around the world are vying for dominance; it's a typical project that burns through massive amounts of money.

Without investing tens of billions of US dollars, it's impossible to even talk about surpassing others.

His own company couldn't possibly generate such a high amount of funds; his only hope was that Nvidia could really generate another surge.

Ideally, it would rise to a trillion US dollars, then he would have a reserve of 50 billion US dollars.

This is an astonishing figure on a global scale.

It was because he had this money that he dared to challenge the world's cutting-edge artificial intelligence technology.

(End of this chapter)