Regardless of how trade talks go, the US-China tech rivalry isn’t going away. From each side’s perspective, maintaining a lead in futuristic technologies matters significantly for economic growth and national power. Now, we’re entering round two. The first round was mostly defined by US export controls aimed at slowing China’s development of advanced technologies. These…
SHANGHAI, Sept 26 – China stocks fell on Friday, but ended the week near their highest level in 3-1/2-years as investor sentiment remained upbeat on growing confidence in the country’s artificial intelligence potential. ** China’s blue-chip CSI300 Index closed down 1%, while the Shanghai Composite Index lost 0.7%. Hong Kong’s benchmark Hang Seng was down…
Alibaba Group Holding’s ambitious investment in artificial intelligence and an endorsement by one of the world’s most influential technology investors lifted its Hong Kong shares to a four-year high. Star US fund manager Cathie Wood bought a combined US$16.3 million of Alibaba shares, her first investment in the Chinese e-commerce giant in four years and…
Key News Asian Equities were mixed overnight as Mainland China’s STAR Market and Hong Kong’s Hang Seng Tech Index both outperformed, while Australia and India underperformed. Alibaba announced that it will raise $53 billion for AI investments over the next three years, which was cheered by investors. Alibaba continues to be an AI leader in…
Nvidia is investing in OpenAI. (Photo by Justin Sullivan/Getty Images) Getty Images Key Takeaways Powell’s Cautious Remarks Shift Focus Toward Upcoming Inflation Data Nvidia’s Massive AI Investments Drive Market Cap And Sector Momentum Lithium Americas Surges On Potential Government Stake And EV Demand Major market indices fell on Tuesday with the S&P 500 dropping 0.55%…
US stocks rose before the bell on Wednesday, eyeing a return to their record-setting rally as Alibaba’s (BABA) spending plans and Micron Technology’s (MU) results lifted AI prospects. Nasdaq 100 futures (NQ=F) moved up roughly 0.3%, while those on the S&P 500 (ES=F) nudged 0.2% higher. Contracts on the Dow Jones Industrial Average (YM=F), which…
Memory chipmaker Micron Technology (MU) reported fiscal fourth quarter results after the bell on Tuesday that topped Wall Street estimates. Micron posted revenue of $11.3bn (£8.38bn) for the quarter, ahead of the $11.15 billion expected by analysts polled by Bloomberg. Adjusted earnings per share of $3.03 also beat forecasts of $2.84. The company’s guidance for…
As Super Typhoon Ragasa barrels down on southern China, the country’s tech and manufacturing hub has gone into emergency lockdown mode. With the highest alert level declared, officials in Shenzhen – the southern manufacturing powerhouse with a reputation as China’s Silicon Valley – sounded the alarm for “wartime readiness”. Residents responded by scrambling to stockpile…
Seniors in Sha Xian country using Yuanbao’s translation function to make foreigner friends while preserving old memories. A weibo user In community centers across rural Sha Xian County in Fujian province, the familiar clack of mahjong tiles now mingles with something far less traditional: seniors huddled around smartphones, learning the intricacies of artificial intelligence. Videos…
Beijing’s decision this week to ban Chinese companies from using microchips made by US firm Nvidia indicates the country is increasingly confident about replacing them with domestically produced chips, experts say. Experts believe that after years of research, China can now produce chips that could replace the H20, the most powerful model chip Nvidia is…