Alibaba Beats Profit Forecast as China Faces Tepid Spending
Chinese e-commerce leader Alibaba delivered better-than-expected profits in its September quarter, driven by gains from equity investments, despite falling short on sales projections. The company’s net income rose 58% year-on-year…
Nvidia AI Chips Overheating, Customers Raise Concerns
Nvidia’s new Blackwell AI chips, already delayed from their planned release earlier this year, are now facing overheating issues in server racks, according to a report by The Information. The…
ByteDance’s $300 Billion Valuation Revealed Amid Investor Buyback
TikTok’s parent company, ByteDance, has been valued at approximately $300 billion, sources familiar with the matter revealed. The company recently approached investors with a share buyback offer priced at $180.70…
Samsung Electronics Announces $7.2 Billion Buyback After Stock Slump
Samsung Electronics has announced plans to repurchase shares worth 10 trillion won ($7.17 billion) over the next year following a sharp decline in its stock price. This move, the company’s…
ePlane Secures $14M to Propel India’s Air Taxi Ambitions
ePlane, an Indian startup focused on electric air taxis, has raised a $14 million Series B funding round as it seeks to capitalize on the Indian government’s interest in developing…
South Korean Morphing Wheel Aims to Redefine Accessibility in Robotics
Researchers at the Korea Institute of Machinery and Materials (KIMM) are pioneering a ‘morphing’ wheel technology that could redefine accessibility and movement in robots, wheelchairs, and unmanned vehicles. This adaptive…
China-Linked Hackers Breach U.S. Telecom Networks, Steal Surveillance Data
Chinese-linked hackers accessed surveillance data meant for U.S. law enforcement after infiltrating the networks of several telecom companies, according to a statement from U.S. authorities on Wednesday. The FBI and…
China Closing the Tech Gap with the West Says Microsoft President
Microsoft’s President and Vice-Chairman, Brad Smith, cautioned against assumptions that China lags behind the U.S. and Europe in tech advancements, suggesting that China is narrowing the gap with the West.…
AMD Cuts Workforce by 4 Percent as Competition in AI Chip Market Heats Up
AMD is set to reduce its workforce by 4%, translating to approximately 1,000 employees, as part of a strategic move to strengthen its position in the artificial intelligence (AI) chip…
Tencent Reports 47% Profit Jump as Games and AI Drive Growth
Tencent posted a stronger-than-expected 47% profit surge in the third quarter, driven by gains in gaming, advertising, and cloud services, as announced on Wednesday. The Chinese social media and gaming…
Nvidia and SoftBank Unveil First AI and 5G Telecom Network
Chipmaker Nvidia and SoftBank Corp have launched a pilot for the world’s first telecom network that combines artificial intelligence (AI) and 5G technology. Announced on Wednesday, this collaboration pioneers a…
Vietnam Expands Chip Packaging as Companies Shift Production from China
Vietnam is rapidly expanding its footprint in the semiconductor back-end manufacturing sector, attracting foreign investment as companies reduce operations in China due to escalating trade tensions with Western nations. Foreign…
Samsung Shares Drop as Trump Tariff Concerns Spark Market Reaction
Samsung Electronics shares reached a four-year low on Wednesday, impacted by concerns over potential U.S. tariffs on Chinese imports under a possible new Donald Trump administration, as analysts note. The…
SoftBank Reports Major Profit Surge with Vision Fund’s Rebound
SoftBank’s Vision Fund division reported significant gains of 608.5 billion yen ($3.96 billion) in its fiscal second quarter, as the Japanese conglomerate experienced a sharp rise in returns on its…
Small Businesses Gain New AI Tool as Alibaba Expands International Reach
Alibaba has launched a new artificial intelligence-driven search engine, Accio, aimed at small businesses in Europe and the Americas to aid in sourcing supplies. This tool represents Alibaba’s strategic move…
Baidu Launches AI Tools to Simplify App Development and Image Creation
Baidu Inc introduced a range of new AI-powered applications at the annual Baidu World Conference, marking a strategic push toward the commercial application of its AI advancements. The Chinese tech…
Japan Launches $65 Billion Boost for Domestic Chip and AI Sectors
Japanese Prime Minister Shigeru Ishiba announced a $65 billion plan to support Japan’s semiconductor and artificial intelligence sectors through subsidies and financial incentives. The initiative, targeting domestic chip production, aims…
TSMC and GlobalFoundries Set to Receive Final Chips Act Awards, Sources Say
Taiwan Semiconductor Manufacturing Co. (TSMC) and GlobalFoundries, along with another unnamed chipmaker, are reportedly set to receive their final awards under the U.S. Chips and Science Act. The Commerce Department…
Grab raises 2024 revenue forecast as holiday demand surges
Singapore’s Grab Holdings raised its revenue forecast for fiscal 2024, signaling expectations of strong performance in its food delivery and ride-hailing sectors, particularly during the holiday season. The Southeast Asian…
Huawei demands dismissal of US charges in alleged tech theft case
Huawei Technologies is seeking to dismiss a substantial portion of the criminal charges it faces in the United States. The Chinese telecommunications giant filed a motion in a Brooklyn federal…