Skip to content
Trending
June 30, 2025Bank investors bet on looser regulation under Trump. They are starting to see it July 3, 2025UK’s popular sausage roll seller plunges 15% as heatwave hurts sales July 2, 2025Inflation fears receded in May as Trump eased some tariff threats, New York Fed survey shows July 3, 2025Trump’s deportations are hurting Constellation Brands’ beer sales June 30, 2025H&M shares jump as it flags summer shopping pick-up, says considering tariff price hikes July 2, 2025Modelo owner Constellation Brands misses on earnings as aluminum tariffs hit profitability June 30, 2025Bulgaria is set to join the euro zone. But its citizens aren’t convinced July 2, 2025Drone maker AeroVironment shares pop 21% on earnings beat June 30, 2025​Here’s how the luxury real estate market is splitting up
EverydayRead
  • HOME
  • Business
  • Earnings
  • Economy
  • Finance
  • Lifestyle
EverydayRead
EverydayRead
  • HOME
  • Business
  • Earnings
  • Economy
  • Finance
  • Lifestyle
EverydayRead
  Finance  Chinese self-driving trucking company pivots to generative AI for video games
Finance

Chinese self-driving trucking company pivots to generative AI for video games

AdminAdmin—December 19, 20240

Workers setting up the TuSimple booth for CES 2022 at the Las Vegas Convention Center on Jan. 3, 2022.

Alex Wong | Getty Images News | Getty Images

Embattled Chinese autonomous trucking company TuSimple has rebranded to CreateAI, focusing on video games and animation, the company announced Thursday.

The news comes as GM folded its Cruise robotaxi business this month, and the once-hot sector of self-driving startups has started to weed out stragglers. TuSimple, which straddled the U.S. and China markets, had its own challenges: concerns over vehicle safety, a $189 million settlement of a securities fraud lawsuit and delisting from the Nasdaq in February.

Now, just over two years after CEO Cheng Lu rejoined the company in the role after being pushed out, he expects the business can break even in 2026.

That’s thanks to a video game based on the hit martial arts novels by Jin Yong that’s slated to release an initial version that year, Cheng said. He anticipates “several hundred million” in revenue in 2027 when the full version is launched.

More stories

Here’s what CEOs are saying about DEI at Davos

January 26, 2025

Chinese self-driving trucking company pivots to generative AI for video games

December 19, 2024

Should investors dump U.S. stocks for international equities? Here’s what experts are saying

April 18, 2025

Citigroup earnings top estimates, but stock falls as bank boosts loan loss reserves

October 16, 2024

Before the delisting, TuSimple said it lost $500,000 in the first three quarters of 2023, and spent $164.4 million on research and development during that time.

Company co-founder Mo Chen has a “long history” with the Jin Yong family and started work in 2021 to develop an animated feature based on the stories, Cheng said.

Kunst: AI stocks are cyclical. NVIDIA is the leader, but they will eventually trade down.

The company claims its artificial intelligence capabilities in developing autonomous driving software give it a base from which to develop generative AI. That’s the next-level tech powering OpenAI’s ChatGPT, which generates human-like responses to user prompts.

Along with the CreateAI rebrand, the company debuted its first major AI model called Ruyi, an open-source model for visual work, available via the Hugging Face platform.

“It’s clear our shareholders see the value in this transformation and want to move forward in this direction,” Cheng said. “Our management team and Board of Directors have received overwhelming support from shareholders.” The company said it is scheduled to hold its annual shareholders meeting Friday.

He said the company plans to increase headcount to around 500 next year, up from 300.

Cutting production costs by 70%

While still under the name TuSimple, the company in August announced a partnership with Shanghai Three Body Animation to develop the first animated feature film and video game based on the science fiction novel series “The Three-Body Problem.”

The company said at the time that it was launching a new business segment to develop generative AI applications for video games and animation.

CreateAI expects to lower the cost of top-tier, so-called triple A game production by 70% in the next five to six years, Cheng said. He declined to share whether the company was in talks with gaming giant Tencent.

When asked about the impact of U.S. restrictions, Cheng claimed there were no issues and said the company used a mix of China and non-China cloud computing providers.

The U.S. under the Biden administration has ramped up limits on Chinese businesses’ access to advanced semiconductors used to power generative AI.

Correction: This story has been updated to reflect that CreateAI, formerly TuSimple, is scheduled to hold its annual shareholders meeting Friday.

UK inflation rises to 2.6% in November, in line with expectations
13 anonymous media executives make predictions for the new year
Related posts
  • Related posts
  • More from author
Finance

Bank investors bet on looser regulation under Trump. They are starting to see it

June 30, 20250
Finance

3 forces driving a record week for stocks as 7 portfolio names hit new highs

June 28, 20250
Finance

Zohran Mamdani’s victory in NYC mayoral primary leaves Wall Street ‘alarmed’ and ‘depressed’

June 26, 20250
Load more
Read also
Earnings

UK’s popular sausage roll seller plunges 15% as heatwave hurts sales

July 3, 20250
Business

Trump’s deportations are hurting Constellation Brands’ beer sales

July 3, 20250
Economy

Inflation fears receded in May as Trump eased some tariff threats, New York Fed survey shows

July 2, 20250
Earnings

Drone maker AeroVironment shares pop 21% on earnings beat

July 2, 20250
Business

Modelo owner Constellation Brands misses on earnings as aluminum tariffs hit profitability

July 2, 20250
Finance

Bank investors bet on looser regulation under Trump. They are starting to see it

June 30, 20250
Load more
© 2023, All Rights Reserved.
  • About Us
  • Advertise With Us
  • Contact Us
  • Disclaimer
  • Cookie Law
  • Privacy Policy
  • Terms & Conditions