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…
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…
23andMe Cuts 40% of Staff as Revenue Falls
23andMe just dropped some major news in a tough year for the genetic testing company. After months of financial challenges, data breaches, and leadership shakeups, the company has announced that…
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…
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…
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…
South Korea’s Ruling Party Backs Chipmakers to Counter Trump’s Trade Threat
South Korea’s ruling party introduced a bill on Monday to provide subsidies and lift restrictions on working hours for chipmakers, aiming to counter potential risks tied to measures proposed by…
Elon Musk’s Wealth Soars by $70 Billion Following Trump Victory
Elon Musk, the prodigious CEO of Tesla and SpaceX, has witnessed an extraordinary surge in his net worth, swelling by approximately $70 billion following Donald Trump’s election victory. This phenomenal…
Ai-Da Robot Sells Historic Artwork for $1 Million at Auction
Ai-Da, a humanoid AI-powered robot, has made history as the first robot to sell a work of art at auction. The portrait, titled “AI God,” which depicts Alan Turing —…
India’s Antitrust Probe Finds Zomato and Swiggy Favored Select Restaurants
India’s antitrust regulator has found that food delivery giants Zomato and Swiggy engaged in practices that breached competition laws by favoring select restaurant partners, according to documents from the Competition…
Sony’s Profit Leaps 73% with Boost from Gaming Sector
Sony Group Corp. reported a significant rise in operating profit for the July-September quarter, driven largely by its game and network services sector, which helped mitigate reduced revenue from TV…
ASML Resolves Global IT Outage Amid Heightened Scrutiny Over China Sales
ASML, the Dutch semiconductor equipment maker, has resolved a global IT systems outage that affected operations on Friday. The company confirmed that “all systems are fully recovered,” although the cause…
China Prepares for Trump’s Policies with Boosted Chip Equipment Purchases
China’s semiconductor sector is bracing for another challenging period under Donald Trump by accelerating its purchase of foreign chipmaking equipment and exploring alliances with international partners. Anticipating stricter U.S. trade…
US Orders TSMC to Halt AI Chip Shipments to China
The United States has directed Taiwan Semiconductor Manufacturing Co. (TSMC) to suspend shipments of advanced chips to Chinese companies, primarily those used in artificial intelligence applications, effective Monday, according to…
China’s SMIC Sees Overcapacity Extending to 2025 with Limited New Investments
China’s largest chipmaker, Semiconductor Manufacturing International Corp (SMIC), cautioned Friday that the mature node chip market would remain oversupplied until at least 2025, signaling a restrained approach to capacity growth.…
Nvidia Reaches Historic $3.6 Trillion Market Value After Trump Election Win
Shares of Nvidia surged to a record high on Thursday, marking a historic milestone as the chipmaker became the first company to surpass a $3.6 trillion market capitalization. This achievement…
How Samsung’s Delayed AI Strategy Opened Doors for Rival SK Hynix
Samsung Electronics, once the dominant force in memory semiconductors, is now struggling in the AI-driven chip market, resulting in a $126 billion loss in market value, as reported by S&P…
Nissan to Cut 9,000 Jobs and Slash CEO’s Pay Amid Struggles
Nissan Motor Co. plans to lay off 9,000 workers and reduce its global manufacturing capacity by 20 percent, according to Reuters. The Japanese automaker’s restructuring strategy is aimed at trimming…
Trump Expected to Maintain CHIPS Act Despite Campaign Criticisms
President-elect Donald Trump is expected to uphold the Biden administration’s CHIPS and Science Act, a landmark policy designed to boost U.S. semiconductor production, despite criticism voiced during his campaign, according…