Shares of Baidu (BIDU, Financial) fell 4% on Thursday after Reuters reported that Apple Inc. (AAPL, Financial) is in talks with Tencent Holdings Ltd. and ByteDance Ltd. to use their artificial intelligence models in Chinese iPhones. Apple’s AI Talks in China Deal Blow to Baidu Shares, Dips 4% Apple is incorporating ChatGPT by OpenAI into…
(Bloomberg) — China’s major technology stocks have been left behind in this year’s global frenzy over artificial intelligence, and a lack of demand for actual AI usage coupled with geopolitical pressures make it unlikely they can cash in anytime soon. Most Read from Bloomberg The Nasdaq 100 has soared more than 75% since ChatGPT was…
China is looking to challenge the U.S. in artificial intelligence. China’s tech giants have launched their own AI models. Niphon | Istock | Getty Images China’s race to develop smarter-than-human artificial intelligence may put it ahead of the U.S., but such ground-breaking technology could also risk lessening the stronghold that the ruling Communist Party has…
Chinese markets are back in the spotlight after a rough start to the week. China’s blue-chip CSI 300 index skyrocketed over 10% when it opened Tuesday amid expectations of further measures to boost the economy after the seven-day Golden Week break . The rally cooled off, however, after China’s National Development and Reform Commission held…
“We’re Hiring” flyers displayed at the Albany Job Fair in Latham, New York, US, on Wednesday, Oct. 2, 2024. Angus Mordant | Bloomberg | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where…
The Alibaba office building is seen in Nanjing, Jiangsu province, China, Aug 28, 2024. CFOTO | Future Publishing | Getty Images Chinese tech stocks, including beaten-down names like Alibaba, rallied this week, hitting highs not seen in more than a year after China’s central bank announced measures to stimulate the world’s second-largest economy. The Hang…
China’s largest technology companies are returning more of their cash to shareholders than ever before, as they continue to ramp up buybacks to support their flagging stocks. Repurchases of shares listed in Hong Kong have reached HK$187 billion ($24 billion) so far in 2024, already surpassing last year’s record total, according to data compiled by…