Chinese quieter blooming demand for pricier Nvidia AI chips
When you visit the renowned Huaqiangbei electronics area in Shenzhen, China, you’re likely to find a variety of shops in the SEG Plaza skyscraper offering a wide range of electronic components, including camera parts and drones. While high-end U.S. chips are not openly advertised, discreet inquiries can lead you to vendors who specialize in them. […]
Chip firm CXMT in dire straits with legislators chasing tails
On Tuesday, the chairman of the U.S. House of Representatives’ committee on China called for trade restrictions on Changxin Memory Technologies (CXMT), a Chinese memory chip maker. This request follows China’s recent ban on the sale of certain chips by Micron Technology Inc, a U.S.-based company. The trade dispute between the two largest economies in […]
Investors may witness a significant increase in the price of Novo Nordisk
According to ten investors and market analysts surveyed, encouraging trial results indicating Novo Nordisk’s obesity medicine helps save and prolong lives, not merely lose weight, might drive up Europe’s better-performing stock even more. The United States’ booming demand for a Danish company’s weight-loss medication Wegovy prompted it to considerably increase its full-year profit and sales estimates last […]
Musk claims that Tesla’s pricing decreases increased competition
Elon Musk, the CEO of Tesla Inc. (TSLA.O), dismissed worries that a poor economy would stifle buyers’ enthusiasm on Wednesday by claiming that the company’s aggressive price reductions have sparked a desire for its electric automobiles.Despite a dramatic decrease in car profit margins, the business slightly above Wall Street projections for fourth-quarter profits and revenue […]
Start-ups emerge from the wreckage of Big Tech’s purging
Just two months after starting on a full-time basis, Nic Szerman quit his position at Meta Platforms (META.O) in November. He was a victim of the company’s drastic 13% personnel cut when the advertising market collapsed.A few days later, he was back to work and looking for funding for his own blockchain-based payment company, Nulink.He […]
U.S. alarmed by China’s hold of outdated chip technology
The largest chip manufacturer in China, SMIC (0981.HK), is increasing production of ten-year semiconductor technology that is essential to the supply chains of many industries, raising concerns in the US and driving some lawmakers to attempt to stop them. Dan Hutcheson, the chip economist at TechInsights, warned that if China unveils a trillion yuan ($144 […]
Apple shares suffer as Foxconn turmoil puts iPhone delivery at stake
Following the most recent round of employee discontent this week, Foxconn’s (2317.TW) main iPhone production in China is expected to witness a significant decrease in November shipments, according to a person with first-hand information on the situation on Friday. This comes as thousands of workers leave the facility.As a result of the COVID-19 regulations, production […]
Electric vehicle manufacturers struggle financially—struck by exorbitant prices
The soaring cost of raw materials and production means that every time Lucid Group Inc. (LCID.O) or Rivian Automotive Inc. (RIVN.O) sells an electric vehicle, they lose hundreds of thousands of dollars, according to their most recent earnings reports.Electric vehicle (EV) manufacturers’ quarterly reports from the last two weeks reveal that they are having difficulty […]
As analysts foresee a “price war,” Tesla reduces prices in China by up to 9%
In China, the world’s largest auto market, Tesla (TSLA.O) has reduced the starting rates for its Model 3 and its Model Y automobiles by as much as 9%, bucking a trend of hikes in the sector.The price reductions, which were announced in postings on the electric vehicle (EV) behemoth’s China webpage on Monday, are the […]
Offering of Intel’s Mobileye: first indication of a defrosting tech IPO market
Even though the market for fresh issues has all but collapsed, Intel Corp.’s (INTC.O) self-driving arm Mobileye on Friday announced its filing for a U.S. initial public offering.The technology IPO market is currently experiencing its worst dry spell in close to two decades. According to data from Dealogic, U.S. listings have raised just over $7 […]