Home Top Movers Why Lizhi (LIZI) Exploded This Morning With A 20% Surge

Why Lizhi (LIZI) Exploded This Morning With A 20% Surge

LIZHI Inc. (LIZI) is making big gains today as the company recently announced that it has entered into a cooperation agreement with Horizon Robotics, an established chip maker for smart mobility in China, to collaborate on audio services for the Internet of Vehicles (IoV) market.

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Founded in 2015, Horizon Robotics is a manufacturer of Artificial Intelligence (AI) chips for smart mobility in China.

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Since its establishment, Horizon Robotics has been actively developing high-performance, low-power, open and flexible AI chips, and solutions to empower smart mobility and a wider range of general AI applications via a combination of hardware and software.

On Thursday morning, Lizhi announced that it struck a deal with a leading toy designer and retailer in China, Pop Mart, to create a branded podcast channel. This will be the first of its kind on the company’s new Lizhi Podcast mobile app.

The announcement came shortly after the company sent a shareholder letter on Wednesday in which it put forward a vision of growing the company into a global audio entertainment giant.

In 2021, its goal is to increase brand recognition and attract a broad, global audience by creating more connections between people and providing them with companionship through its online audio platforms.

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The share price of Lizhi Inc. (LIZI) is up 245% in just the last week.

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