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…
This article first appeared on GuruFocus. Chinese tech stocks are staging a comeback that’s turning heads across Asia. The Hang Seng Tech Index surged 4.2% on Wednesday, pushing the gauge to its highest level since November 2021 and marking its seventh straight week of gains. Baidu (NASDAQ:BIDU) led the move with a 16% jump, while…
Nvidia (NVDA) shares fell nearly 3% Wednesday after a Financial Times report claimed China’s regulators banned Chinese tech firms from purchasing some of the AI giant’s chips. The Cyberspace Administration of China has told companies, including ByteDance and Alibaba, to end their testing and orders of the RTX Pro 6000D, the Financial Times reported on…
Nvidia’s RTX6000D, its newest artificial intelligence chip tailored for the Chinese market, has seen only lukewarm demand with some major tech firms opting not to place orders, two people with knowledge of procurement discussions said. The RTX6000D, designed mainly for AI inference tasks, is seen as expensive for what it does, according to the two…
Ant Group unveiled its first humanoid robot at a trade show in Shanghai on Thursday, heralding the Chinese fintech company’s entry into the increasingly competitive field of embodied artificial intelligence to take on rivals like Unitree Robotics. The wheeled, two-armed humanoid, named R1, was developed by Ant’s robotics unit Ant Lingbo Technology, also known as…
By Casey Hall SHANGHAI (Reuters) – Alibaba’s mapping app Amap is moving away from its traditional focus on navigation and encroaching into rival Meituan’s local-lifestyle territory by launching its own ranking of restaurants, hotels and tourist destinations. Alibaba and Meituan are among the prominent tech companies in China locked in a bitter battle for market…