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TuSimple Holdings Inc. (OTCMKTS: TSPH) is a global autonomous driving technology company based in San Diego, California. Established in 2015, TuSimple is focused on developing a fully autonomous (SAE Level 4) driving solution for long-haul heavy-duty trucks. The company's cutting-edge AI technology allows trucks to operate autonomously, drastically improving efficiency and safety in the trucking industry. TuSimple made history with the world's first fully autonomous semi-truck run on public roads in the U.S. and China and the creation of the Autonomous Freight Network (AFN). With a commitment to innovation and regulatory compliance, TuSimple continues to lead the way in autonomous driving technology.
CreateAI Holdings (OTCMKTS: TSPH), formerly TuSimple Holdings, announced its Board of Directors has unanimously rejected an unsolicited acquisition proposal from Steel Partners Holdings L.P. and Camac Partners The proposal, received on November 27, 2024, offered to acquire all remaining shares at $0.46 per share.
The Board determined the offer significantly undervalued the company and was not in the best interests of shareholders. Board Chairman Cheng Lu emphasized the company's commitment to long-term value creation through its strategy of developing generative AI technologies and applying them to digital entertainment content production.
CreateAI Holdings (OTCMKTS: TSPH) held its 2024 Annual Meeting of Stockholders on December 20, 2024. The meeting had a quorum with 207,347,538 shares represented, out of 232,618,399 total outstanding shares. Six directors were elected to serve until the 2025 annual meeting: Cheng Lu, Mo Chen, James Lu, Zhen Tao, Albert Schultz, and Jianan Hao.
A proposal to classify the Board into three classes with staggered terms was not approved. The appointment of UHY LLP as the independent registered public accounting firm for FY2024 was ratified. Notably, there's ongoing litigation in Delaware Court of Chancery regarding voting control between White Marble entities and Mo Chen, which could affect the Board classification proposal's outcome.
TuSimple Holdings Inc. (OTCMKTS: TSPH) has announced a partnership with Shanghai Three Body Animation Co. to develop an animated feature film and video game based on the science fiction novel series 'The Three-Body Problem'. This marks TuSimple's expansion into generative AI applications for animation and video games, leveraging its existing AI capabilities developed for autonomous driving.
The company's new business segment, approved by its Board of Directors, aims to commercialize TuSimple's technology in the $600 billion global animation and video game market. TuSimple plans to use its generative AI technology, including large models with transformers and neural radiance fields, to enhance the production process and potentially shorten development timelines in the industry.
TuSimple Holdings (OTCMKTS: TSPH), a global autonomous driving technology company, announced a settlement with the Committee on Foreign Investment in the United States (CFIUS) regarding events from 2022. These included temporary vacancies in key security positions and potential improper transfer of intellectual property under a national security agreement. The settlement resolves these issues without TuSimple admitting any fault. CEO Cheng Lu emphasized the company's commitment to compliance and future development.
TuSimple Holdings Inc. announced the appointment of Albert Schultz and Jianan Hao to its Board of Directors. Schultz, an independent director with extensive experience, will enhance governance practices. Hao, the COO, will provide valuable insights for growth. The Company also announced the transition of Mike Mosier off the Board.
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