27 mins. ago
World champion Wu Yize struck three centuries as he beat Si Jiahui 6-2 in the second round of the Shanghai Masters.
In his first match of the season, Yize went 3-0 up before his Chinese compatriot pulled two frames back.
Yize responded by knocking in breaks of 108 and two 140s as he took three frames in a row for a victory which sets up a quarter-final against Shaun Murphy in a repeat of their thrilling 2026 World Championship final.
Murphy came through a tough battle with Zhou Yuelong before winning 6-5 as he struck a 65 to win the deciding frame.
"It was great to feel the enthusiasm from the crowd. It's been quite a while since I last played in front of fans like this," said Yize, 22.
#shanghai #masters
In his first match of the season, Yize went 3-0 up before his Chinese compatriot pulled two frames back.
Yize responded by knocking in breaks of 108 and two 140s as he took three frames in a row for a victory which sets up a quarter-final against Shaun Murphy in a repeat of their thrilling 2026 World Championship final.
Murphy came through a tough battle with Zhou Yuelong before winning 6-5 as he struck a 65 to win the deciding frame.
"It was great to feel the enthusiasm from the crowd. It's been quite a while since I last played in front of fans like this," said Yize, 22.
#shanghai #masters
10 hours ago
Memory-chip stocks Micron Technology (MU) and SK Hynix (SKHY) fell Monday after Chinese rival ChangXin Memory Technologies, known as CXMT, rocketed in its initial public offering on the Shanghai Stock Exchange.
CXMT shares soared 466% in an IPO on Monday, giving the company a market capitalization of $484 billion, the Wall Street Journal reported. CXMT makes dynamic random-access memory (DRAM) chips, competing with Micron, Samsung and SK Hynix.
Another Chinese memory-chip maker, Yangtze Memory Technologies, is expected to conduct an IPO later this year, the Journal said. Yangtze, also known as YMTC, makes Nand flash memory chips and competes with Sandisk (SNDK) as well as Micron, Samsung and SK Hynix.
On the stock market today, Micron slid 2.3% to close at 900.20. SK Hynix dropped 7.5% to 143.02. Sandisk stock plunged 11% to 1,278.23.
In a client note, Wedbush Securities ******* yst Matt Bryson questioned how successful CXMT's business could be outside of China. Because of U.S. export restrictions, CXMT doesn't have access to ASML's (ASML) extreme ultraviolet (EUV) lithography gear so it can't make faster, higher-capacity chips to compete with Micron and its South Korean peers.
#micron #Stock
CXMT shares soared 466% in an IPO on Monday, giving the company a market capitalization of $484 billion, the Wall Street Journal reported. CXMT makes dynamic random-access memory (DRAM) chips, competing with Micron, Samsung and SK Hynix.
Another Chinese memory-chip maker, Yangtze Memory Technologies, is expected to conduct an IPO later this year, the Journal said. Yangtze, also known as YMTC, makes Nand flash memory chips and competes with Sandisk (SNDK) as well as Micron, Samsung and SK Hynix.
On the stock market today, Micron slid 2.3% to close at 900.20. SK Hynix dropped 7.5% to 143.02. Sandisk stock plunged 11% to 1,278.23.
In a client note, Wedbush Securities ******* yst Matt Bryson questioned how successful CXMT's business could be outside of China. Because of U.S. export restrictions, CXMT doesn't have access to ASML's (ASML) extreme ultraviolet (EUV) lithography gear so it can't make faster, higher-capacity chips to compete with Micron and its South Korean peers.
#micron #Stock
14 hours ago
WASHINGTON (AP) — The Trump administration is preparing to ramp up funding by hundreds of millions of dollars for programs designed to counter China's growing influence around the world, after it had put a halt to many of those initiatives last year during a flurry of budget and personnel cuts.
The administration notified Congress late last week that it intends to spend $175.8 million to replace outdated and aging undersea telecommunications cables in the Caribbean and Central America to prevent China from moving in. The ******* ociated Press obtained a copy of the notification on Monday.
The administration has expressed deep concern about China's activities in the Americas, pushing back on Chinese ownership of ports at either end of the Panama Canal, infrastructure projects funded by China's Belt and Road initiative in the region, and Chinese investment in the telecommunications sector.
A State Department official said China's economic activities in the Western Hemisphere pose risks to U.S. national security and prosperity. The official, who was not authorized to speak publicly to the subject and spoke on condition of anonymity, said China's offerings may seem cheaper but in the end wind up being more expensive due to cost overruns, hidden maintenance fees and poor performance.
The underseas cable funding appears to be part of a broader push to restore support for initiatives aimed at blunting Chinese influence globally that would cost many hundreds of millions of dollars more. That is even as President Donald Trump and Chinese leader Xi Jinping put on a show of cooperation and Xi prepares to visit the U.S. this fall.
#administration #millions
The administration notified Congress late last week that it intends to spend $175.8 million to replace outdated and aging undersea telecommunications cables in the Caribbean and Central America to prevent China from moving in. The ******* ociated Press obtained a copy of the notification on Monday.
The administration has expressed deep concern about China's activities in the Americas, pushing back on Chinese ownership of ports at either end of the Panama Canal, infrastructure projects funded by China's Belt and Road initiative in the region, and Chinese investment in the telecommunications sector.
A State Department official said China's economic activities in the Western Hemisphere pose risks to U.S. national security and prosperity. The official, who was not authorized to speak publicly to the subject and spoke on condition of anonymity, said China's offerings may seem cheaper but in the end wind up being more expensive due to cost overruns, hidden maintenance fees and poor performance.
The underseas cable funding appears to be part of a broader push to restore support for initiatives aimed at blunting Chinese influence globally that would cost many hundreds of millions of dollars more. That is even as President Donald Trump and Chinese leader Xi Jinping put on a show of cooperation and Xi prepares to visit the U.S. this fall.
#administration #millions
15 hours ago
As of 11:38 AM ET, the Dow Jones Industrial Average (DJINDICES:^DJI) is up 0.13% to 52,017.19, while the S&P 500 (SNPINDEX:^GSPC) is down 0.33% to 7,387.76, and the Nasdaq Composite (NASDAQINDEX:^IXIC) has slipped 0.44% to 24,840.43 as tech pressure offsets optimism from cooling geopolitical tensions.
Gold is up 0.45% to $4,074.30, and the 10-Year Treasury yield is down 0.03% to 4.65%. Communications and consumer defensive stocks are this morning's top-performing sectors while technology and energy sectors are in the red.
RTX Corp climbed 2.61% to $218.28 on strong Q2 earnings. SAP surged 7.4% to $171.79, extending last week's gains after the software company beat earnings expectations. Conversely, Nvidia is trading lower amid concerns about Chinese competition. Reddit is up 6.7% to 171.79 on optimism about its upcoming earnings.
Oil prices fell this morning on news of a pause in strikes between the U.S. and Iran. WTI crude oil fell almost 7% to $83.15 a barrel, boosting market sentiment and lifting the Dow slightly. However, investors are braced for further volatility and will be watching the Federal Reserve meeting this week. The Fed is widely expected to leave rates unchanged in July, but inflationary pressures caused by ongoing tensions in the Middle East and high spending by tech companies could prompt it to raise rates before the end of the year.
On the other side, renewed artificial intelligence (AI) valuation concerns weighed on markets. This week will bring earnings from Microsoft, Meta Platforms, Apple, and Amazon, and investors will be paying close attention to capital expenditure plans. The high concentration in the Nasdaq and the S&P 500 means any drop in their share prices will have an outsized impact on these major indexes.
#earnings
Gold is up 0.45% to $4,074.30, and the 10-Year Treasury yield is down 0.03% to 4.65%. Communications and consumer defensive stocks are this morning's top-performing sectors while technology and energy sectors are in the red.
RTX Corp climbed 2.61% to $218.28 on strong Q2 earnings. SAP surged 7.4% to $171.79, extending last week's gains after the software company beat earnings expectations. Conversely, Nvidia is trading lower amid concerns about Chinese competition. Reddit is up 6.7% to 171.79 on optimism about its upcoming earnings.
Oil prices fell this morning on news of a pause in strikes between the U.S. and Iran. WTI crude oil fell almost 7% to $83.15 a barrel, boosting market sentiment and lifting the Dow slightly. However, investors are braced for further volatility and will be watching the Federal Reserve meeting this week. The Fed is widely expected to leave rates unchanged in July, but inflationary pressures caused by ongoing tensions in the Middle East and high spending by tech companies could prompt it to raise rates before the end of the year.
On the other side, renewed artificial intelligence (AI) valuation concerns weighed on markets. This week will bring earnings from Microsoft, Meta Platforms, Apple, and Amazon, and investors will be paying close attention to capital expenditure plans. The high concentration in the Nasdaq and the S&P 500 means any drop in their share prices will have an outsized impact on these major indexes.
#earnings
16 hours ago
The Trump administration is weighing whether to extend access to some Chinese rare earth materials beyond the January 1, 2027 cutoff after U.S. producers acknowledged they cannot build sufficient domestic processing and magnet capacity before the deadline, Reuters reported on Monday.
Industry executives and Pentagon suppliers told Reuters that U.S. processing and magnet manufacturing capacity remains insufficient to meet despite billions of dollars in federal support for new mines, separation facilities and downstream manufacturing.
The gap threatens not only military procurement but also supply chains serving electric vehicles, offshore wind, robotics, data centers and other energy-intensive industries that depend on high-performance permanent magnets.
The shortage centers on neodymium-iron-boron (NdFeB) and samarium-cobalt magnets, which rely on rare earth supply chains that China continues to dominate. Beijing still controls the overwhelming majority of global rare earth refining and permanent magnet production, giving it enormous leverage over downstream manufacturing even as Western governments accelerate efforts to diversify supply.
While the United States has made meaningful progress expanding domestic mining, processing, alloy production and magnet manufacturing require specialized infrastructure that has taken China decades to develop.
#earth #supply
Industry executives and Pentagon suppliers told Reuters that U.S. processing and magnet manufacturing capacity remains insufficient to meet despite billions of dollars in federal support for new mines, separation facilities and downstream manufacturing.
The gap threatens not only military procurement but also supply chains serving electric vehicles, offshore wind, robotics, data centers and other energy-intensive industries that depend on high-performance permanent magnets.
The shortage centers on neodymium-iron-boron (NdFeB) and samarium-cobalt magnets, which rely on rare earth supply chains that China continues to dominate. Beijing still controls the overwhelming majority of global rare earth refining and permanent magnet production, giving it enormous leverage over downstream manufacturing even as Western governments accelerate efforts to diversify supply.
While the United States has made meaningful progress expanding domestic mining, processing, alloy production and magnet manufacturing require specialized infrastructure that has taken China decades to develop.
#earth #supply
24 hours ago
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Nvidia Corp. CEO Jensen Huang said the U.S. should embrace, not ban, China's AI models, arguing that high-quality open-source technology should be used rather than feared.
In an interview with Axios on Tuesday, Huang called the Chinese models "excellent" and dismissed concerns that OpenAI and Anthropic should fear open AI models, saying they broaden AI adoption by attracting new users, while many customers will still pay for the superior performance and reliability of closed models.
Huang pushed back on fears that downloaded Chinese AI models create a "backdoor" to Beijing, arguing they can be securely customized and isolated.
Don't Miss:
#chinese #arguing #finance #NVIDIA
Nvidia Corp. CEO Jensen Huang said the U.S. should embrace, not ban, China's AI models, arguing that high-quality open-source technology should be used rather than feared.
In an interview with Axios on Tuesday, Huang called the Chinese models "excellent" and dismissed concerns that OpenAI and Anthropic should fear open AI models, saying they broaden AI adoption by attracting new users, while many customers will still pay for the superior performance and reliability of closed models.
Huang pushed back on fears that downloaded Chinese AI models create a "backdoor" to Beijing, arguing they can be securely customized and isolated.
Don't Miss:
#chinese #arguing #finance #NVIDIA
1 day ago
By Karen Brettell and Sruthi Shankar
July 28 (Reuters) - U.S. stocks rebounded from earlier lows on Tuesday ahead of key corporate earnings releases and the Federal Reserve's highly anticipated interest rate decision on Wednesday.
World stocks had earlier fallen to a one-month low as investors dumped chipmakers on concerns about Chinese competition and the funding of the AI boom.
But gains in other sectors offset a decline in chip stocks in the U.S. session.
The Dow Jones Industrial Average rose 1.29% to 52,881.21, the S&P 500 rose 0.37% to 7,440.40 and the Nasdaq Composite rose 0.04% to 24,940.99.
#earlier #brettell #sruthi
July 28 (Reuters) - U.S. stocks rebounded from earlier lows on Tuesday ahead of key corporate earnings releases and the Federal Reserve's highly anticipated interest rate decision on Wednesday.
World stocks had earlier fallen to a one-month low as investors dumped chipmakers on concerns about Chinese competition and the funding of the AI boom.
But gains in other sectors offset a decline in chip stocks in the U.S. session.
The Dow Jones Industrial Average rose 1.29% to 52,881.21, the S&P 500 rose 0.37% to 7,440.40 and the Nasdaq Composite rose 0.04% to 24,940.99.
#earlier #brettell #sruthi
1 day ago
New vehicle sales in Thailand expanded by 17% to 58,724 units in June 2026, up from 50,079 units a year earlier, according to the latest data released by the Federation of Thai Industries (FTI). The market was driven higher by continued strong demand for passenger battery electric vehicles (BEVs), sales of which surged by 140% year-on-year to 22,275 units last month, while sales of internal combustion engine (ICE) passenger vehicles declined by 34% to 8,114 units.
The Thai domestic vehicle market continued to recover last month, supported by a pick-up in economic activity in the country in recent months. The latest government data show that GDP growth accelerated to 2.8% year-on-year in the first quarter of 2026, up from 2.5% in the fourth quarter of 2025, helped by a sharp rise in government spending and stronger private investment growth, while private consumption growth eased slightly.
In the first six months of 2026, Thailand's domestic vehicle market expanded by almost 15% to 346,966 units, from 302,694 units a year earlier. Sales of pickup trucks fell by 4% to 71,271 units in this period, while sales of light passenger vehicles increased by 22% to 261,319 units, driven mainly by a 93% surge in mostly Chinese battery electric vehicle (BEV) sales to 104,418 units and a 21% increase in hybrid electric vehicle sales to 81,502 units, while sales of internal combustion engine (ICE) passenger vehicles fell by 25% to 54,506 units.
Vehicle production in the country fell by 1% to 717,212 vehicles year-to-date, reflecting an 8% drop in exports to 421,144 units, with shipments to markets in the Middle East disrupted by the US-Iran conflict.
The FTI said it expects vehicle production in the country to reach 1.45 million units in 2026, including 550,000 for sale domestically and 900,000 for export. GlobalData is forecasting light vehicle sales to rise by 5% to 647,000 units this year, after growing by 9% to 618,000 units in 2025, followed by a 5% rise to 679,000 units in 2027.
#passenger
The Thai domestic vehicle market continued to recover last month, supported by a pick-up in economic activity in the country in recent months. The latest government data show that GDP growth accelerated to 2.8% year-on-year in the first quarter of 2026, up from 2.5% in the fourth quarter of 2025, helped by a sharp rise in government spending and stronger private investment growth, while private consumption growth eased slightly.
In the first six months of 2026, Thailand's domestic vehicle market expanded by almost 15% to 346,966 units, from 302,694 units a year earlier. Sales of pickup trucks fell by 4% to 71,271 units in this period, while sales of light passenger vehicles increased by 22% to 261,319 units, driven mainly by a 93% surge in mostly Chinese battery electric vehicle (BEV) sales to 104,418 units and a 21% increase in hybrid electric vehicle sales to 81,502 units, while sales of internal combustion engine (ICE) passenger vehicles fell by 25% to 54,506 units.
Vehicle production in the country fell by 1% to 717,212 vehicles year-to-date, reflecting an 8% drop in exports to 421,144 units, with shipments to markets in the Middle East disrupted by the US-Iran conflict.
The FTI said it expects vehicle production in the country to reach 1.45 million units in 2026, including 550,000 for sale domestically and 900,000 for export. GlobalData is forecasting light vehicle sales to rise by 5% to 647,000 units this year, after growing by 9% to 618,000 units in 2025, followed by a 5% rise to 679,000 units in 2027.
#passenger
1 day ago
Entries from early 2020 in a now-exposed personal diary kept by Dr. Anthony Fauci during the COVID-19 pandemic show that he privately estimated the death rate from the illness was significantly lower than what he told Congress under oath only weeks later.
Fauci, 85, has come under intense scrutiny for years regarding his approach leading the U.S. response to the coronavirus pandemic, and his alleged links to the Chinese lab where the virus originated. He will return to Capitol Hill on Wednesday before the Senate Homeland Security and Governmental Affairs Committee to speak about his newly publicized personal records.
"The stated mortality over all of this when you look at all the data including China is about three percent. It first started off as two and three," Fauci said in testimony before the House Oversight Committee on March 11, 2020, according to a transcript of the hearing.
National Institute of Allergy and Infectious Diseases Director Anthony Fauci prepares to testify before the Senate Health, Education, Labor, and Pensions Committee about the ongoing response to the COVID-19 pandemic in the Dirksen Senate Office Building on Capitol Hill on November 4, 2021, in Washington, D.C. Senators questioned Fauci and other witnesses about the approval of the Pfizer-BioNTech coronavirus vaccine for children between 5 and 11 years old this week.
Legacy Media Ignores Massive Anthony Fauci Document Release Alleging He Misled Congress On Covid Origins
#senate #capitol
Fauci, 85, has come under intense scrutiny for years regarding his approach leading the U.S. response to the coronavirus pandemic, and his alleged links to the Chinese lab where the virus originated. He will return to Capitol Hill on Wednesday before the Senate Homeland Security and Governmental Affairs Committee to speak about his newly publicized personal records.
"The stated mortality over all of this when you look at all the data including China is about three percent. It first started off as two and three," Fauci said in testimony before the House Oversight Committee on March 11, 2020, according to a transcript of the hearing.
National Institute of Allergy and Infectious Diseases Director Anthony Fauci prepares to testify before the Senate Health, Education, Labor, and Pensions Committee about the ongoing response to the COVID-19 pandemic in the Dirksen Senate Office Building on Capitol Hill on November 4, 2021, in Washington, D.C. Senators questioned Fauci and other witnesses about the approval of the Pfizer-BioNTech coronavirus vaccine for children between 5 and 11 years old this week.
Legacy Media Ignores Massive Anthony Fauci Document Release Alleging He Misled Congress On Covid Origins
#senate #capitol
1 day ago
US tech stocks regained their footing on Tuesday as a sell-off in chip stocks underscored concerns about AI circular financing deals, countering a drop in oil prices and earnings optimism.
The Nasdaq Composite (^IXIC) bounced back from earlier losses to hover near the flat line. The S&P 500 (^GSPC) rose nearly 0.4%, while the Dow Jones Industrial Average (^DJI) climbed 1.2% as investors weighed the latest quarterly results.
Stocks generally moved higher as the earnings deluge continued. Boeing (BA), Ford (F), PayPal (PYPL), and Coca-Cola (KO) all rose after reporting results, with Coca-Cola stock on track for its best day since 2009. Investors will be watching SK Hynix's results due around 8 p.m. ET for insight into the memory trade as AI worries swirl.
That helped offset souring sentiment in the chip sector amid reports that Nvidia (NVDA) is exploring a $250 billion funding backstop for OpenAI (OPAI.PVT), further intertwining the two companies and heightening worries about circular financing. Tech traders also grew nervous that Chinese competition is narrowing the AI gap with US companies, undermining prospects for a payoff.
Oil prices, meanwhile, continued to retreat after the US and Iran halted active fighting and President Trump said the two sides were in diplomatic talks. "There's a good chance that something could happen, and if it does, good," Trump said aboard Air Force One on Monday. "If it doesn't, we go back to doing what we were doing."
#circular
The Nasdaq Composite (^IXIC) bounced back from earlier losses to hover near the flat line. The S&P 500 (^GSPC) rose nearly 0.4%, while the Dow Jones Industrial Average (^DJI) climbed 1.2% as investors weighed the latest quarterly results.
Stocks generally moved higher as the earnings deluge continued. Boeing (BA), Ford (F), PayPal (PYPL), and Coca-Cola (KO) all rose after reporting results, with Coca-Cola stock on track for its best day since 2009. Investors will be watching SK Hynix's results due around 8 p.m. ET for insight into the memory trade as AI worries swirl.
That helped offset souring sentiment in the chip sector amid reports that Nvidia (NVDA) is exploring a $250 billion funding backstop for OpenAI (OPAI.PVT), further intertwining the two companies and heightening worries about circular financing. Tech traders also grew nervous that Chinese competition is narrowing the AI gap with US companies, undermining prospects for a payoff.
Oil prices, meanwhile, continued to retreat after the US and Iran halted active fighting and President Trump said the two sides were in diplomatic talks. "There's a good chance that something could happen, and if it does, good," Trump said aboard Air Force One on Monday. "If it doesn't, we go back to doing what we were doing."
#circular
1 day ago
Mercedes-Benz (MBG.DE) reported decent results on Tuesday, highlighting strength in its core business, but continuing weakness in China. The report comes as the German automaker's US business is under threat of a ban due to ownership stakes by Chinese companies.
In the second quarter, Mercedes reported passenger car revenue of 22.99 billion euros ($26.18 billion), down 5% compared to a year ago, with adjusted EBIT coming in at 909 million euros ($1.035 billion), down 26% year over year.
But its adjusted return on sales (similar to EBIT margin) in the car unit fell slightly to 4% from a year earlier, beating **** yst expectations per Bloomberg.
Mercedes stock trading in Germany pulled higher.
But the good news in its operations comes at a tricky time for Stuttgart-based Mercedes.
#mercedes #year #comes #down
In the second quarter, Mercedes reported passenger car revenue of 22.99 billion euros ($26.18 billion), down 5% compared to a year ago, with adjusted EBIT coming in at 909 million euros ($1.035 billion), down 26% year over year.
But its adjusted return on sales (similar to EBIT margin) in the car unit fell slightly to 4% from a year earlier, beating **** yst expectations per Bloomberg.
Mercedes stock trading in Germany pulled higher.
But the good news in its operations comes at a tricky time for Stuttgart-based Mercedes.
#mercedes #year #comes #down
1 day ago
US tech stocks sank before the bell on Tuesday as a sell-off in Korean memory makers underscored concerns about AI circular financing deals, overshadowing a drop in oil prices and earnings optimism.
Contracts on the Nasdaq-100 (NQ=F) fell 0.9%, signaling further losses for the tech-heavy index, while those on the S&P 500 (ES=F) dropped 0.2%. But Dow Jones Industrial Average futures (YM=F) edged into the green, up 0.1%.
South Korea's Kospi (^KS11) stock benchmark tumbled over 10% on Tuesday as investors dumped shares in top memory chipmakers SK Hynix (SKHY, 000660.KS) and Samsung Electronics (005930.KS), which sank more than 14% and 13%, respectively.
Sentiment on the AI trade has soured amid reports that Nvidia (NVDA) is exploring a $250 billion funding backstop for OpenAI (OPAI.PVT), further intertwining the two companies and heightening worries about circular financing. Tech traders also grew nervous that Chinese competition is narrowing the AI gap with US companies, undermining prospects for a payoff.
Oil prices, meanwhile, continued to retreat after the US and Iran halted active fighting and President Trump said the two sides were in diplomatic talks. "There's a good chance that something could happen, and if it does, good," Trump said aboard Air Force One on Monday. "If it doesn't, we go back to doing what we were doing."
#sank #circular #financing #further
Contracts on the Nasdaq-100 (NQ=F) fell 0.9%, signaling further losses for the tech-heavy index, while those on the S&P 500 (ES=F) dropped 0.2%. But Dow Jones Industrial Average futures (YM=F) edged into the green, up 0.1%.
South Korea's Kospi (^KS11) stock benchmark tumbled over 10% on Tuesday as investors dumped shares in top memory chipmakers SK Hynix (SKHY, 000660.KS) and Samsung Electronics (005930.KS), which sank more than 14% and 13%, respectively.
Sentiment on the AI trade has soured amid reports that Nvidia (NVDA) is exploring a $250 billion funding backstop for OpenAI (OPAI.PVT), further intertwining the two companies and heightening worries about circular financing. Tech traders also grew nervous that Chinese competition is narrowing the AI gap with US companies, undermining prospects for a payoff.
Oil prices, meanwhile, continued to retreat after the US and Iran halted active fighting and President Trump said the two sides were in diplomatic talks. "There's a good chance that something could happen, and if it does, good," Trump said aboard Air Force One on Monday. "If it doesn't, we go back to doing what we were doing."
#sank #circular #financing #further
1 day ago
By Tom Westbrook and Ankur Banerjee
SINGAPORE, July 28 (Reuters) - Chip stocks tanked across Asia on Tuesday, rattled by the threat of Chinese competition and worries about who's paying for the AI boom, while sliding oil prices did little to allay nerves about U.S. rate hikes potentially starting as soon as this week.
South Korea's KOSPI dived almost 10% to a three-month low, triggering a circuit breaker on the way down as it heads for its largest monthly fall since the Asian financial crisis in 1997. The index had more than tripled over 12 months to June, but it has shed more than a third of its value since that peak.
Shares in SK Hynix and Samsung Electronics, which are under extra pressure in a market transformed by leverage, made losses of more than 12% as their stratospheric rally unwinds in a hurry.
Japan's Nikkei slid about 4%, touching a two-year low, with the selloff following a 2.2% drop for the Philadelphia Semiconductor index on Monday.
#ankur #reuters
SINGAPORE, July 28 (Reuters) - Chip stocks tanked across Asia on Tuesday, rattled by the threat of Chinese competition and worries about who's paying for the AI boom, while sliding oil prices did little to allay nerves about U.S. rate hikes potentially starting as soon as this week.
South Korea's KOSPI dived almost 10% to a three-month low, triggering a circuit breaker on the way down as it heads for its largest monthly fall since the Asian financial crisis in 1997. The index had more than tripled over 12 months to June, but it has shed more than a third of its value since that peak.
Shares in SK Hynix and Samsung Electronics, which are under extra pressure in a market transformed by leverage, made losses of more than 12% as their stratospheric rally unwinds in a hurry.
Japan's Nikkei slid about 4%, touching a two-year low, with the selloff following a 2.2% drop for the Philadelphia Semiconductor index on Monday.
#ankur #reuters
1 day ago
Beijing is now desperately attempting to bring rare earth manufacturing back inside its own borders, exclusively.
New Chinese export restrictions specifically target American plans to begin the country's first commercial production of rare earth magnet materials by 2027.
To counter that move, REalloys (NASDAQ: ALOY) is rebuilding every major stage of North America's rare earth industry. Over the past two years, the company has **** embled heavy rare earth feedstock, separation, metallization, alloy production, and permanent magnet manufacturing into a single North American mine-to-magnet supply chain designed to operate independently of Chinese material.
And now, the company's first commercial facilities are expected to come online in the New Year, just as the Pentagon's ban on Chinese-origin rare earth magnets takes effect, forcing defense manufacturers to secure entirely new sources of supply.
Under the pressure of escalating Chinese export restrictions and the Pentagon's looming procurement ban, REalloys has become one of the focal points of America's rare earth rebuild.
#north #export
New Chinese export restrictions specifically target American plans to begin the country's first commercial production of rare earth magnet materials by 2027.
To counter that move, REalloys (NASDAQ: ALOY) is rebuilding every major stage of North America's rare earth industry. Over the past two years, the company has **** embled heavy rare earth feedstock, separation, metallization, alloy production, and permanent magnet manufacturing into a single North American mine-to-magnet supply chain designed to operate independently of Chinese material.
And now, the company's first commercial facilities are expected to come online in the New Year, just as the Pentagon's ban on Chinese-origin rare earth magnets takes effect, forcing defense manufacturers to secure entirely new sources of supply.
Under the pressure of escalating Chinese export restrictions and the Pentagon's looming procurement ban, REalloys has become one of the focal points of America's rare earth rebuild.
#north #export
2 days ago
Amazon (AMZN) has been one of the market's strongest large-cap technology stocks in 2026, helped by rapid growth in Amazon Web Services (AWS), advertising, and artificial intelligence. The company also delivered an impressive first quarter, beating Wall Street estimates.
But the story has recently shifted. Recently, Bloomberg reported that Senate investigators are examining allegations of Chinese influence over Amazon's third-party marketplace, sending AMZN shares down about 4% in a single session.
Dear ******* eX Stock Fans, Mark Your Calendars for August 6
Elon Musk Just Revealed a Quiet Win for Tesla's AI Ambitions
What a Major Anthropic Chip Deal Really Means for AMD Stock
#amazon #senate
But the story has recently shifted. Recently, Bloomberg reported that Senate investigators are examining allegations of Chinese influence over Amazon's third-party marketplace, sending AMZN shares down about 4% in a single session.
Dear ******* eX Stock Fans, Mark Your Calendars for August 6
Elon Musk Just Revealed a Quiet Win for Tesla's AI Ambitions
What a Major Anthropic Chip Deal Really Means for AMD Stock
#amazon #senate
2 days ago
By Eduardo Baptista
BEIJING, July 27 (Reuters) - China's commerce ministry on Monday accused the United States of "AI hegemonism" and threatened countermeasures after senior U.S. officials said Chinese AI companies could face investigations, sanctions and trade restrictions over the alleged theft of U.S. technology.
The ministry said Washington was threatening Chinese companies with punishment based on allegations they used "distillation" to copy advanced U.S. AI models, despite what it called a lack of factual or legal grounds.
Model distillation is a widely used AI training technique in which developers use the outputs of a more capable model to train or improve another system. U.S. officials say they distinguish between legitimate distillation and large-scale extraction that amounts to intellectual property theft.
'ALL NECESSARY MEASURES'
#model #Companies #eduardo
BEIJING, July 27 (Reuters) - China's commerce ministry on Monday accused the United States of "AI hegemonism" and threatened countermeasures after senior U.S. officials said Chinese AI companies could face investigations, sanctions and trade restrictions over the alleged theft of U.S. technology.
The ministry said Washington was threatening Chinese companies with punishment based on allegations they used "distillation" to copy advanced U.S. AI models, despite what it called a lack of factual or legal grounds.
Model distillation is a widely used AI training technique in which developers use the outputs of a more capable model to train or improve another system. U.S. officials say they distinguish between legitimate distillation and large-scale extraction that amounts to intellectual property theft.
'ALL NECESSARY MEASURES'
#model #Companies #eduardo
4 days ago
SINGAPORE, July 24 (Reuters) - For months, Chinese chip manufacturer ChangXin Memory Technologies (CXMT) had been hiking prices on Huawei, one of the country's biggest technology companies. The chipmaker held firm when Huawei demanded relief from the escalating costs, according to two people familiar with the matter.
The standoff came to a head on CXMT's factory floor in June. A group of engineers from a chipmaking-equipment vendor with deep strategic ties to Huawei had been working in the cleanrooms at CXMT's core research and development zone in Hefei, Anhui province. Without warning, CXMT ordered the engineers, who had been helping with equipment maintenance, to pack their tools and leave the factory floor immediately, the two sources said.
Executives at the Huawei-connected equipment vendor, SiCarrier, concluded the confrontation was the result of the power struggle between CXMT and Huawei, the people told Reuters. The companies still do business but the engineers haven't been allowed back into the R&D zone, the two people said.
CXMT, Huawei and SiCarrier didn't respond to questions about the incident.
The clash illustrates the changing dynamics of China's semiconductor industry. CXMT has risen to become the world's fourth-biggest maker of memory, including the DRAM variety used in smartphones, laptops and servers. Now, the company is powerful enough to charge prices even Huawei can't stomach.
#engineers #memory
The standoff came to a head on CXMT's factory floor in June. A group of engineers from a chipmaking-equipment vendor with deep strategic ties to Huawei had been working in the cleanrooms at CXMT's core research and development zone in Hefei, Anhui province. Without warning, CXMT ordered the engineers, who had been helping with equipment maintenance, to pack their tools and leave the factory floor immediately, the two sources said.
Executives at the Huawei-connected equipment vendor, SiCarrier, concluded the confrontation was the result of the power struggle between CXMT and Huawei, the people told Reuters. The companies still do business but the engineers haven't been allowed back into the R&D zone, the two people said.
CXMT, Huawei and SiCarrier didn't respond to questions about the incident.
The clash illustrates the changing dynamics of China's semiconductor industry. CXMT has risen to become the world's fourth-biggest maker of memory, including the DRAM variety used in smartphones, laptops and servers. Now, the company is powerful enough to charge prices even Huawei can't stomach.
#engineers #memory
4 days ago
(Corrects para 18 to say that CXMT will debut on the market, not launch its IPO)
SINGAPORE, July 24 (Reuters) - For months, Chinese chip manufacturer ChangXin Memory Technologies (CXMT) had been hiking prices on Huawei, one of the country's biggest technology companies. The chipmaker held firm when Huawei demanded relief from the escalating costs, according to two people familiar with the matter.
The standoff came to a head on CXMT's factory floor in June. A group of engineers from a chipmaking-equipment vendor with deep strategic ties to Huawei had been working in the cleanrooms at CXMT's core research and development zone in Hefei, Anhui province. Without warning, CXMT ordered the engineers, who had been helping with equipment maintenance, to pack their tools and leave the factory floor immediately, the two sources said.
Executives at the Huawei-connected equipment vendor, SiCarrier, concluded the confrontation was the result of the power struggle between CXMT and Huawei, the people told Reuters. The companies still do business but the engineers haven't been allowed back into the R&D zone, the two people said.
CXMT, Huawei and SiCarrier didn't respond to questions about the incident.
#cxmt #people #factory
SINGAPORE, July 24 (Reuters) - For months, Chinese chip manufacturer ChangXin Memory Technologies (CXMT) had been hiking prices on Huawei, one of the country's biggest technology companies. The chipmaker held firm when Huawei demanded relief from the escalating costs, according to two people familiar with the matter.
The standoff came to a head on CXMT's factory floor in June. A group of engineers from a chipmaking-equipment vendor with deep strategic ties to Huawei had been working in the cleanrooms at CXMT's core research and development zone in Hefei, Anhui province. Without warning, CXMT ordered the engineers, who had been helping with equipment maintenance, to pack their tools and leave the factory floor immediately, the two sources said.
Executives at the Huawei-connected equipment vendor, SiCarrier, concluded the confrontation was the result of the power struggle between CXMT and Huawei, the people told Reuters. The companies still do business but the engineers haven't been allowed back into the R&D zone, the two people said.
CXMT, Huawei and SiCarrier didn't respond to questions about the incident.
#cxmt #people #factory
5 days ago
Beijing lashed out at the European Union after the latter fined AliExpress, the largest Chinese e-commerce platform in the bloc, more than half a billion euros over the uncurbed sale of counterfeit goods on its site.
China's Ministry of Commerce issued a statement on Wednesday, voicing its "strong dissatisfaction and serious concern" over the decision of the European Commission to fine the company 550 million euros (over $627 million) under the Digital Services Act (DSA).
"China firmly opposes the EU's moves to erect digital barriers under the guise of platform regulation and adopt discriminatory measures to restrict and suppress the normal operations of Chinese e-commerce companies in Europe," a spokesperson for the ministry said.
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#commerce #ministry #euros #beijing
China's Ministry of Commerce issued a statement on Wednesday, voicing its "strong dissatisfaction and serious concern" over the decision of the European Commission to fine the company 550 million euros (over $627 million) under the Digital Services Act (DSA).
"China firmly opposes the EU's moves to erect digital barriers under the guise of platform regulation and adopt discriminatory measures to restrict and suppress the normal operations of Chinese e-commerce companies in Europe," a spokesperson for the ministry said.
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Chanel Expands Les Extraits Line With Limited Distribution
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#commerce #ministry #euros #beijing
5 days ago
After Spain defeated Argentina in the 2026 FIFA World Cup final, social media users fuelled speculation about alleged FIFA favouritism with a video that appeared to show blue fireworks set off at the end of the tournament, and that it was proof that the body had only prepared for the South Americans' victory. AFP photos and footage from media outlets all show that the fireworks were white, not blue.
"Spain's victory actually crashed FIFA's show," reads a Douyin video's caption in simplified Chinese shared on July 21.
It contains a screenshot of an X post published on July 20, showing blue fireworks at a stadium, while a Spanish flag was visible in the middle.
"If FIFA World Cup final was not rigged, why were the fireworks the colours of Argentina? Their plans were ruined by Spain," the post says, implying that the fireworks match the main colours of Argentina's flag ( archived link ).
The claim feeds into the conspiracy theory that FIFA has repeatedly displayed favouritism toward the Argentine team and skipper Lionel Messi (archived here and here ). FIFA's refereeing chief previously responded that these were "unfounded allegations" ( archived link ).
#spain
"Spain's victory actually crashed FIFA's show," reads a Douyin video's caption in simplified Chinese shared on July 21.
It contains a screenshot of an X post published on July 20, showing blue fireworks at a stadium, while a Spanish flag was visible in the middle.
"If FIFA World Cup final was not rigged, why were the fireworks the colours of Argentina? Their plans were ruined by Spain," the post says, implying that the fireworks match the main colours of Argentina's flag ( archived link ).
The claim feeds into the conspiracy theory that FIFA has repeatedly displayed favouritism toward the Argentine team and skipper Lionel Messi (archived here and here ). FIFA's refereeing chief previously responded that these were "unfounded allegations" ( archived link ).
#spain
6 days ago
Alibaba (BABA) shares gained pace this week after the Chinese tech giant confirmed a major update to its artificial intelligence push, one that ties its Qwen models directly to hundreds of millions of Apple (AAPL) devices in China. The Chinese tech giant has spent more than a year and billions of dollars building out its AI business, and this latest move shows that bet starting to pay off in a very visible way.
Over the past year, Alibaba has shifted its cloud division away from basic storage and computing services and toward artificial intelligence.
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Billionaire Jeff Bezos Called Amazon's Customer Service to Prove a Point But Waited in Silence for More Than 10 Minutes — 'It Was Really Long'
Micron Stock Is Near Bear-Market Territory. Here's Why ASML's Guidance Says Buy the Dip.
#Stock #Tech #artificial #baba
Over the past year, Alibaba has shifted its cloud division away from basic storage and computing services and toward artificial intelligence.
PayPal Says a $53 Billion Takeover Offer from Stripe Undervalues It. How to Play PYPL Stock Here.
Billionaire Jeff Bezos Called Amazon's Customer Service to Prove a Point But Waited in Silence for More Than 10 Minutes — 'It Was Really Long'
Micron Stock Is Near Bear-Market Territory. Here's Why ASML's Guidance Says Buy the Dip.
#Stock #Tech #artificial #baba
6 days ago
Nvidia CEO Jensen Huang said American companies should be free to use Chinese open-source artificial intelligence models, positioning himself against Trump administration officials and U.S. AI labs that have sought to restrict them.
"These Chinese models are excellent," Huang told Axios on Tuesday. "Open-source models that are excellent should be used." He said companies should "absolutely" be allowed to use them.
The remarks came as the release of Kimi K3, a model from Beijing-based Moonshot AI that combines near-frontier performance, lower prices, and open weights, has rattled chip and AI stocks, reviving concerns that cheaper models could undercut the case for large AI infrastructure spending. Huang argued Wall Street has the situation backward. "Free AI should be great for hardware," he said. "Free AI should be great for chips. Free AI should be great for data centers." Cheaper and more accessible models draw more people into AI ecosystems, he argued, and that broader adoption ultimately drives up demand for the chips and data centers that Nvidia provides.
Huang also rejected the argument that downloaded Chinese models create a security backdoor to Beijing. Companies can customize those models and run them inside secure environments, he said, and openness makes AI more secure because outside researchers can inspect models and identify weaknesses. "If everything just becomes one single model, one single point of attack, one single source of failure, I think the world is much, much more vulnerable," he said.
His comments came hours after Treasury Secretary Scott Bessent told Fox Business that the administration is examining Chinese AI models for evidence of stolen U.S. intellectual property and considering sanctions. "If we see ... that overseas models are stealing from our great companies, we have the ability to sanction them because of this theft," Bessent said, according to Axios. Huang said companies should still face consequences for violating privacy or contracts, but he argued the response should target misconduct, not the models themselves. "Distillation, learning from AI, learning from other sources of knowledge, is fundamental to intelligence," he said.
#Companies
"These Chinese models are excellent," Huang told Axios on Tuesday. "Open-source models that are excellent should be used." He said companies should "absolutely" be allowed to use them.
The remarks came as the release of Kimi K3, a model from Beijing-based Moonshot AI that combines near-frontier performance, lower prices, and open weights, has rattled chip and AI stocks, reviving concerns that cheaper models could undercut the case for large AI infrastructure spending. Huang argued Wall Street has the situation backward. "Free AI should be great for hardware," he said. "Free AI should be great for chips. Free AI should be great for data centers." Cheaper and more accessible models draw more people into AI ecosystems, he argued, and that broader adoption ultimately drives up demand for the chips and data centers that Nvidia provides.
Huang also rejected the argument that downloaded Chinese models create a security backdoor to Beijing. Companies can customize those models and run them inside secure environments, he said, and openness makes AI more secure because outside researchers can inspect models and identify weaknesses. "If everything just becomes one single model, one single point of attack, one single source of failure, I think the world is much, much more vulnerable," he said.
His comments came hours after Treasury Secretary Scott Bessent told Fox Business that the administration is examining Chinese AI models for evidence of stolen U.S. intellectual property and considering sanctions. "If we see ... that overseas models are stealing from our great companies, we have the ability to sanction them because of this theft," Bessent said, according to Axios. Huang said companies should still face consequences for violating privacy or contracts, but he argued the response should target misconduct, not the models themselves. "Distillation, learning from AI, learning from other sources of knowledge, is fundamental to intelligence," he said.
#Companies
6 days ago
China produced a record amount of crude oil last year, at 216 million tons, with natural gas production also rising substantially, the National Energy Administration reported today.
Together, the oil and gas output of China in terms of oil equivalent rose to 420 million tons—a record high. Natural gas alone rose by 10 billion cubic meters last year. The annual growth rate was unchanged for the ninth year in a row, the NEA said.
Chinese oil and gas companies also boosted their reserves, with new recoverable oil and gas volumes at 1.32 billion tons of oil equivalent, the report also revealed. This was a 5.6% increase on the year. Of that total, newly discovered conventional oil and gas accounted for 1.29 billion tons, while unconventional oil and gas accounted for 30 million tons.
China has been putting a lot of effort into reducing its dependence on imported energy, and the war between the United States and Iran has helped—as has the government's strategy of filling up storage with discount Russian and Iranian crude over the last two years. This gave China a supply cushion of an estimated 1 billion barrels that it tapped into when the war prompted a surge in international oil prices.
Higher domestic production has also helped but to a lesser extent—China is still nowhere near any meaningful self-reliance in energy commodities as demand rises much faster than local production of oil and gas.
#production #natural #record
Together, the oil and gas output of China in terms of oil equivalent rose to 420 million tons—a record high. Natural gas alone rose by 10 billion cubic meters last year. The annual growth rate was unchanged for the ninth year in a row, the NEA said.
Chinese oil and gas companies also boosted their reserves, with new recoverable oil and gas volumes at 1.32 billion tons of oil equivalent, the report also revealed. This was a 5.6% increase on the year. Of that total, newly discovered conventional oil and gas accounted for 1.29 billion tons, while unconventional oil and gas accounted for 30 million tons.
China has been putting a lot of effort into reducing its dependence on imported energy, and the war between the United States and Iran has helped—as has the government's strategy of filling up storage with discount Russian and Iranian crude over the last two years. This gave China a supply cushion of an estimated 1 billion barrels that it tapped into when the war prompted a surge in international oil prices.
Higher domestic production has also helped but to a lesser extent—China is still nowhere near any meaningful self-reliance in energy commodities as demand rises much faster than local production of oil and gas.
#production #natural #record
6 days ago
One of the key investors behind the Cadillac Formula 1 project is linked to a federal investigation involving businesses he controls. Mark Walter, whose initials form part of TWG Global’s name, is **** ociated with companies under investigation by federal prosecutors, with the FBI and the U.S. Securities and Exchange Commission also involved.
The Cadillac F1 team has not had what one would call a great start to its debut in the premier class of motorsport. As a new team adapting to Formula 1 and the sport’s latest regulations, Cadillac’s 2026 campaign has largely been a learning experience rather than a competitive one.
Cadillac is the only team on the grid that has not scored a point through the first 10 races of the season. The team’s best finish was when Valtteri Bottas finished 13th in the Chinese Grand Prix. However, leaving performance aside, one of its owners, Walter, is now dealing with developments away from F1.
Bloomberg reports that Walter’s investment firm, Guggenheim Partners LLC, as well as insurance companies Delaware Life Insurance Co. and Clear Spring Life and Annuity Co., were served with grand jury subpoenas in February. The filings have only recently become public.
Prosecutors in Manhattan are reportedly examining whether the companies failed to disclose that billions of dollars in private credit investments were tied to Walter’s other business ventures.
#life
The Cadillac F1 team has not had what one would call a great start to its debut in the premier class of motorsport. As a new team adapting to Formula 1 and the sport’s latest regulations, Cadillac’s 2026 campaign has largely been a learning experience rather than a competitive one.
Cadillac is the only team on the grid that has not scored a point through the first 10 races of the season. The team’s best finish was when Valtteri Bottas finished 13th in the Chinese Grand Prix. However, leaving performance aside, one of its owners, Walter, is now dealing with developments away from F1.
Bloomberg reports that Walter’s investment firm, Guggenheim Partners LLC, as well as insurance companies Delaware Life Insurance Co. and Clear Spring Life and Annuity Co., were served with grand jury subpoenas in February. The filings have only recently become public.
Prosecutors in Manhattan are reportedly examining whether the companies failed to disclose that billions of dollars in private credit investments were tied to Walter’s other business ventures.
#life
6 days ago
The initial deal behind the American AI boom seems to be: private investors would help finance it, taking on the risk; private companies would initially own the benefits of the breakthroughs, then distribute them to public markets later; and the government would help regulate the industry after the fact. In China, by contrast, the deal is that companies still have to compete for investment and customers, while the government provides the compute.
That bargain is showing signs of collapse — on the U.S. side. As costs soar, Chinese competitors gain ground and Washington increasingly considers AI to be a national-security **** et, President Donald Trump is considering taking a governmental stake into AI companies. While both the populist left and the right, and the AI companies themselves, have lauded the proposal, one person isn't cheering: Billionaire Michael Bloomberg.
In an opinion column published in Bloomberg Opinion on Monday, the media company's founder attacked the proposal, arguing that it would turn Washington from an industry regulator into an investor with incentives for profit, leading to "cronyism."
"Somewhere, Karl Marx is smiling," Bloomberg wrote of the centrally planned economy on offer, while the propaganda possibilities would "make George Orwell blush."
The former New York City mayor argued that Americans do not need their governments to own AI companies in order to share in the technology's gains. For one, once they go public, they could just buy shares. But also, consumers and businesses already benefit from AI through fraud detection, medical research, bookkeeping and other helpful applications, he wrote, while the resulting economic growth could eventually generate more tax revenue for public services.
#opinion
That bargain is showing signs of collapse — on the U.S. side. As costs soar, Chinese competitors gain ground and Washington increasingly considers AI to be a national-security **** et, President Donald Trump is considering taking a governmental stake into AI companies. While both the populist left and the right, and the AI companies themselves, have lauded the proposal, one person isn't cheering: Billionaire Michael Bloomberg.
In an opinion column published in Bloomberg Opinion on Monday, the media company's founder attacked the proposal, arguing that it would turn Washington from an industry regulator into an investor with incentives for profit, leading to "cronyism."
"Somewhere, Karl Marx is smiling," Bloomberg wrote of the centrally planned economy on offer, while the propaganda possibilities would "make George Orwell blush."
The former New York City mayor argued that Americans do not need their governments to own AI companies in order to share in the technology's gains. For one, once they go public, they could just buy shares. But also, consumers and businesses already benefit from AI through fraud detection, medical research, bookkeeping and other helpful applications, he wrote, while the resulting economic growth could eventually generate more tax revenue for public services.
#opinion
6 days ago
Micron Technology (NASDAQ: MU) stock has shed close to 29% of its value over the past month, but it has nothing to do with fundamentals. The tailwinds of the memory cycle remain intact, and each day further proves that AI demand is rising. The current dip presents a compelling buying opportunity that may not be around much longer.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Moonshot AI's large language model product Kimi AI recently shared an X post that enhanced Micron's bullish thesis. The Chinese company explained that it can no longer take on new customers for its open source LLM because it has run out of available compute. This decision was made to "protect the experience of existing subscribers."
Kimi is a chatbot with a similar setup to OpenAI's ChatGPT, where you can enter prompts or have AI agents perform tasks. Each of those prompts and AI agents requires compute from GPUs, and the GPUs need memory chips to remember everything and function more efficiently.
Kimi AI's news demonstrates parabolic demand for its services, which can only be met by buying more memory chips. This event isn't limited to Kimi AI. Other companies have more GPUs or are taking extra precautions to ensure they do not run out of compute. If other businesses don't want to turn away customers amid soaring demand, they will have to buy more Micron chips.
#signal
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Moonshot AI's large language model product Kimi AI recently shared an X post that enhanced Micron's bullish thesis. The Chinese company explained that it can no longer take on new customers for its open source LLM because it has run out of available compute. This decision was made to "protect the experience of existing subscribers."
Kimi is a chatbot with a similar setup to OpenAI's ChatGPT, where you can enter prompts or have AI agents perform tasks. Each of those prompts and AI agents requires compute from GPUs, and the GPUs need memory chips to remember everything and function more efficiently.
Kimi AI's news demonstrates parabolic demand for its services, which can only be met by buying more memory chips. This event isn't limited to Kimi AI. Other companies have more GPUs or are taking extra precautions to ensure they do not run out of compute. If other businesses don't want to turn away customers amid soaring demand, they will have to buy more Micron chips.
#signal
6 days ago
Our ***** ysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.
Treasury Secretary Scott Bessent said the U.S. is considering sanctions on China over its alleged "theft" of U.S. large language models.
On Bessent's list are Chinese open-weight AI models like Moonshot's Kimi, DeepSeek, and GLM of z.ai, as well as the tech giant Alibaba. We don't yet know what these proposed sanctions would look like.
As of today, we do not know what these proposed sanctions would look like. If imposed, they could restrict or ban Chinese open-weight models and push U.S. developers toward the best budget-friendly intelligence stateside.
Bessent on Tuesday told Fox Business that frontier AI companies like Anthropic and OpenAI face what he called "IP theft" from Chinese AI models that "distill" their products.
#chinese #like #theft #know
Treasury Secretary Scott Bessent said the U.S. is considering sanctions on China over its alleged "theft" of U.S. large language models.
On Bessent's list are Chinese open-weight AI models like Moonshot's Kimi, DeepSeek, and GLM of z.ai, as well as the tech giant Alibaba. We don't yet know what these proposed sanctions would look like.
As of today, we do not know what these proposed sanctions would look like. If imposed, they could restrict or ban Chinese open-weight models and push U.S. developers toward the best budget-friendly intelligence stateside.
Bessent on Tuesday told Fox Business that frontier AI companies like Anthropic and OpenAI face what he called "IP theft" from Chinese AI models that "distill" their products.
#chinese #like #theft #know
7 days ago
By Courtney Rozen
WASHINGTON, July 21 (Reuters) - TikTok U.S. chief security officer Will Farrell will testify before a U.S. House committee on September 15, according to a Congressional aide.
Farrell, who oversees "data privacy and cybersecurity" according to the company's website, will answer questions from members of the U.S. House Select Committee on China.
This is the first time a TikTok U.S. executive will testify publicly in the U.S. House since the company's Chinese owner, ByteDance, finalized a deal to split the U.S. app from its global business. ByteDance has disclosed few details about the deal, and a hearing would allow lawmakers to ask questions about U.S. President Donald Trump's role in brokering the split and Chinese involvement in the U.S. app.
The U.S. enacted a law in 2024 requiring ByteDance to sell the app or see it shut in the country. The U.S. Congress passed the law after lawmakers expressed concerns that the company's management was beholden to the Chinese government, posing a national security risk.
#security
WASHINGTON, July 21 (Reuters) - TikTok U.S. chief security officer Will Farrell will testify before a U.S. House committee on September 15, according to a Congressional aide.
Farrell, who oversees "data privacy and cybersecurity" according to the company's website, will answer questions from members of the U.S. House Select Committee on China.
This is the first time a TikTok U.S. executive will testify publicly in the U.S. House since the company's Chinese owner, ByteDance, finalized a deal to split the U.S. app from its global business. ByteDance has disclosed few details about the deal, and a hearing would allow lawmakers to ask questions about U.S. President Donald Trump's role in brokering the split and Chinese involvement in the U.S. app.
The U.S. enacted a law in 2024 requiring ByteDance to sell the app or see it shut in the country. The U.S. Congress passed the law after lawmakers expressed concerns that the company's management was beholden to the Chinese government, posing a national security risk.
#security
7 days ago
By Deborah Mary Sophia and Rashika Singh
July 21 (Reuters) - Alphabet faces heightened scrutiny from investors as a delay in the launch of a model key to its AI ambitions adds to worries over the payoff from massive data-center spending, months after raising expectations with a blockbuster quarter for cloud sales.
The Google parent — set to report second-quarter results on Wednesday — has delayed from June the launch of its next flagship model, Gemini 3.5 Pro, built especially to catch up with rivals in the lucrative market for AI coding tools and agentic AI tasks.
The setback has raised concerns as Chinese open-source models increasingly challenge top U.S. labs for customers amid growing worries about steep AI bills that have also fanned fears that Big Tech could be over-building capacity.
"While Google is missing the boat on AI coding and that's a very real growing concern ... Google's strategy is all about the ecosystem," said Dave Wagner, portfolio manager at Aptus Capital Advisors.
#launch #quarter
July 21 (Reuters) - Alphabet faces heightened scrutiny from investors as a delay in the launch of a model key to its AI ambitions adds to worries over the payoff from massive data-center spending, months after raising expectations with a blockbuster quarter for cloud sales.
The Google parent — set to report second-quarter results on Wednesday — has delayed from June the launch of its next flagship model, Gemini 3.5 Pro, built especially to catch up with rivals in the lucrative market for AI coding tools and agentic AI tasks.
The setback has raised concerns as Chinese open-source models increasingly challenge top U.S. labs for customers amid growing worries about steep AI bills that have also fanned fears that Big Tech could be over-building capacity.
"While Google is missing the boat on AI coding and that's a very real growing concern ... Google's strategy is all about the ecosystem," said Dave Wagner, portfolio manager at Aptus Capital Advisors.
#launch #quarter
7 days ago
Jensen Huang is urging Washington to stop worrying about China's open-source AI just as an all-out panic has broken out over the highly capable, low-cost models that can increasingly compete with the most advanced products by OpenAI and Anthropic.
The Nvidia CEO said in an interview with Axios Tuesday the U.S. should not ban these kinds of models, which are being developed by Chinese companies like DeepSeek, Alibaba, and Moonshot AI—which last week raised alarms when it released its highly capable model, Kimi K3.
While U.S. companies, including AI coding startup Cursor, are increasingly turning to open-source alternatives from China to save on the high costs ***** ociated with American AI models, the White House has reportedly considered restricting their use partly based on fears that the models could be used for surveillance purposes by China or that they could threaten the viability of homegrown AI companies.
The White House reportedly considered using executive power to impose conditions on U.S. companies looking to use Chinese AI models, including forcing these companies to guarantee security and accept liability if breached, Axios reported.
The White House did not immediately respond to Fortune's request for comment.
#Companies #white #China
The Nvidia CEO said in an interview with Axios Tuesday the U.S. should not ban these kinds of models, which are being developed by Chinese companies like DeepSeek, Alibaba, and Moonshot AI—which last week raised alarms when it released its highly capable model, Kimi K3.
While U.S. companies, including AI coding startup Cursor, are increasingly turning to open-source alternatives from China to save on the high costs ***** ociated with American AI models, the White House has reportedly considered restricting their use partly based on fears that the models could be used for surveillance purposes by China or that they could threaten the viability of homegrown AI companies.
The White House reportedly considered using executive power to impose conditions on U.S. companies looking to use Chinese AI models, including forcing these companies to guarantee security and accept liability if breached, Axios reported.
The White House did not immediately respond to Fortune's request for comment.
#Companies #white #China
