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Bank of America was dropped from Moonshot AI's Hong Kong IPO

Goldman Sachs remains the only U.S. bank with a role on the deal, which could raise as much as $5 billion

Bank of America was dropped from Moonshot AI's Hong Kong IPO

More than 120 robots, including humanoid machines for factory work and elderly care, will be displayed at the Hong Kong Electronics Fair (Autumn Edition) and electronicAsia, two major electronics fairs in Hong Kong. These fairs, opening on Tuesday at the Hong Kong Convention and Exhibition Centre in Wan Chai, will bring together over 3,200 exhibitors from 15 countries and regions.

Leo Yang, Asia-Pacific director of Booster Robotics, a Chinese firm, revealed that the company is developing affordable robots competitive with leading American manufacturers, despite their technological edge. Yang acknowledged that pricing is a problem, and his company aims to address this by creating practical, affordable, and reliable robotics.

The company is showcasing its latest humanoid robot, Booster T2, equipped with AI chips and capable of performing tasks like grasping objects, transporting goods, and sorting materials. With 2,000 trillion operations per second of computing power and open development tools, the robot could serve various commercial applications from late this year to 2027, such as security guards, factory workers, and child/elderly care assistants.

Another exhibitor, Neucity, is displaying a multifunctional service robot tailored for hotels, hospitals, and retail outlets. One of these robots is already working as a lobby manager at a Guangzhou hotel. Neucity's CEO, Zhang Tao, emphasized the robot's versatility in various settings, from delivering medication to conducting remote ward inspections and using facial recognition for patient identification.

The two fairs will also feature a new Future Industries Zone, dedicated showcases for smart wellness and entertainment technologies, and business-matching activities to help Chinese enterprises expand overseas.

Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

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