Meituan reports Q2 revenue up 14.4% YoY to $15.62B and adjusted net profit of $372M, ending a three-quarter losing streak as the food delivery price war cooled (Ben Jiang / South China Morning Post) (Visit Techmeme dot com for the link and full context!)

Meituan, basically China’s DoorDash, trained a 1.6T parameter LLM on 50K Chinese chips. It reminds me of Jensen Huang’s point on the Dwarkesh podcast: export controls on Nvidia GPUs won’t stop China. They’ll just accelerate the development of AI that runs on Chinese chips.

Sources: Meituan, Baidu, Xiaomi, and other Chinese tech giants have been trimming their workforces, fueling Chinese workers' concerns of being replaced by AI (@chenwq45 / South China Morning Post) (Visit Techmeme dot com for the link and full context!)

Surprise to who? Not CU. Meituan Has Surprise Profit After China Delivery Fight Eases (2) Summary by Bloomberg AI ▪Meituan reported a surprise quarterly profit after competition in China’s quick delivery market eased and the company slowed its overseas expansion. ▪Operating profit rose to 2.69 billion yuan for the three months through June, and revenue climbed 14% to 104.6 billion yuan, also topping estimates. ▪The company's domestic delivery business returned to year-on-year growth "primarily due to our disciplined spending on incentives", according to Meituan. By Luz Ding 08/28/2026 05:33:03 [BN] (Bloomberg) -- Meituan reported a surprise quarterly profit after competition in China’s cutthroat quick delivery market eased and the company slowed its overseas expansion. Operating profit rose 11-fold to 2.69 billion yuan ($400 million) for the three months through June, the company said Friday. Analysts estimated a loss of 846 million yuan on average.  Revenue climbed 14% to 104.6 billion yuan, also topping estimates. Net income reached 2.16 billion yuan, after three quarters of losses.