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Chinese AI firms form alliances to build domestic ecosystem amid U.S. curbs
China’s artificial intelligence companies have announced two new industry alliances with the aim of developing a domestic ecosystem. Vertigo3d | E+ | Getty Images China’s artificial intelligence companies have announced two new industry alliances, aiming to develop a domestic ecosystem to reduce dependence on foreign tech as they seek to cope with U.S. export restrictions on advanced Nvidia chipsets. The announcements […]
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Asia-Pacific markets poised for mixed open as traders await details of U.S-China talks
Here are the opening calls for the day Good morning from Singapore. Investors will be keeping a close watch on Chinese markets following reports that the country will resume trade talks with the U.S. in Stockholm on Monday to discuss longstanding economic disputes. The talks will be led by U.S. Treasury Secretary Scott Bessent and Chinese […]
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China releases AI action plan days after the U.S. as global tech race heats up
Key Points China on Saturday released a global action plan for artificial intelligence that called for international cooperation on tech development and regulation. Premier Li Qiang announced China has proposed the establishment of a global AI cooperation organization, according to an official readout. Former Google CEO Eric Schmidt met with Shanghai Party Secretary Chen Jining […]
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Intel drops 9% as chipmaker’s foundry business axes projects, struggles to find customers
Lip-Bu Tan, Chief Executive Officer of Intel, appears at an event organized by the company. Andrej Sokolow | Picture Alliance | Getty Images Intel‘s stock dropped 9% after the chipmaker said it would slash foundry costs in its latest attempt to turnaround its struggling business. Concerns about where that leaves Intel’s chip manufacturing business overshadowed […]
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Microsoft’s Satya Nadella says job cuts have been ‘weighing heavily’ on him
Microsoft CEO Satya Nadella talks with Indonesia’s Minister of Communication and Information Technology Budi Arie Setiadi, on the day of their meeting with Indonesian President Joko WIdodo, at the Presidential Palace in Jakarta, Indonesia, April 30, 2024. Willy Kurniawan | Reuters Microsoft has laid off over 15,000 people so far in 2025. The stress of […]
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Nvidia addresses AI chip smuggling, says bootleg data centers are a ‘losing proposition’
Nvidia said Thursday that data centers built with smuggled chips are a “losing proposition” and that it does not support unauthorized products. The statement came in response to a Financial Times report that at least $1 billion worth of its artificial intelligence chips illegally entered China. “Trying to cobble together datacenters from smuggled products is […]
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The AI ‘neoclouds’ buzz is growing on Wall Street, but risks are bubbling
Investors are raving about “neoclouds” and what their emergence means for the artificial intelligence boom. However, some warning signs are starting to flash. Neoclouds are companies specializing in AI cloud computing. Unlike traditional hyperscalers such as Amazon and Microsoft, these bespoke companies are viewed as attractive alternatives as they install and manage AI hardware and software […]
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Wall Street is upbeat on tech megacaps, but big questions loom on AI spending, China, Trump tariffs
Mark Zuckerberg, CEO of Meta Platforms Inc.; from left, Lauren Sanchez; Jeff Bezos, founder of Amazon.com Inc.; Sundar Pichai, CEO of Alphabet Inc.; and Elon Musk, CEO of Tesla Inc., during the 60th presidential inauguration in the rotunda of the U.S. Capitol in Washington, D.C., on Jan. 20, 2025. Julia Demaree Nikhinson | Bloomberg | […]
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Clout wars: Jensen Huang eclipses Elon Musk and Tim Cook in Washington
U.S. President Donald Trump (L) listens as Nvidia CEO Jensen Huang speaks in the Cross Hall of the White House during an event on “Investing in America” on April 30, 2025 in Washington, DC. Andrew Harnik | Getty Images The China-U.S. trade war in the first Donald Trump administration saw Apple CEO Tim Cook go […]
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CNBC Daily Open: Investors dismiss Trump administration’s beef with the Fed — S&P 500 hits new high
U.S. Treasury Secretary Scott Bessent sits to testify before a House Ways and Means Committee hearing on Capitol Hill in Washington, D.C., U.S., June 11, 2025. Elizabeth Frantz | Reuters With the job market currently being rough for many — in no small part because of artificial intelligence — it may be tempting to enroll […]
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