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China showcased its technological advancements, including humanoid robots, at Macau's Beyond Expo, amid ongoing tensions with the US over semiconductor access and Huawei's AI chips. The Chinese government criticized the Trump administration for hindering trade talks, while Nvidia's CEO called for easing restrictions on AI technology exports to China.
China has threatened legal action against organizations complying with U.S. sanctions on Huawei, asserting that such actions violate Chinese laws. The U.S. has intensified restrictions on Huawei's AI chips, claiming they may breach export controls, while China defends Huawei as a symbol of its technological advancement. Diplomatic efforts are underway as tensions escalate, with Malaysia's recent withdrawal from a Huawei AI server plan seen as influenced by U.S. pressure.
US firms, including Oracle, are planning significant data center expansions in Malaysia, seeking to import high-end Nvidia chips amid changing regulations. The Trump administration is rescinding Biden-era semiconductor curbs, while Malaysia's recent retraction of a Huawei AI deal highlights its precarious position in the US-China tech rivalry. As Huawei advances in AI and semiconductors, the US aims to solidify its presence in Southeast Asia to counter Chinese influence.
The initiative known as Doge, despite facing numerous lawsuits and criticism for its lack of transparency, has made some notable achievements, including the first all-digital federal retirement process and significant buyouts for government workers. However, it has been criticized for not targeting major spending areas like social security and Medicare, and its approach has led to concerns about productivity losses and potential tax revenue declines. With Musk's reduced involvement, the future effectiveness of Doge remains uncertain, raising questions about its long-term impact on government efficiency.
Global AI spending is set to grow significantly, with an expected increase of 60% this year to USD 360bn and a further 33% in 2026 to USD 480bn. Major investments from tech giants and sovereign entities, particularly in Saudi Arabia and China, highlight the expanding market and strong demand for AI technologies. Despite uncertainties in the semiconductor industry, tech stocks are anticipated to recover, driven by robust earnings growth.
Deutsche Bank AG increased its stake in Globant S.A. by 20.5%, owning approximately 393,945 shares valued at $84.47 million. Despite a "Moderate Buy" rating from analysts, several brokerages have lowered their price targets for the stock, which currently trades at $128.83, down 1.1%. Globant reported a quarterly EPS of $1.36, missing estimates, with a projected EPS of 5.73 for the fiscal year.
The U.S. has decisively cut Huawei from the global AI landscape, declaring that the use of its Ascend AI chips violates export laws worldwide. This move marks a shift from containment to control in a digital Cold War, as the U.S. establishes a "trusted tech partners only" doctrine, granting access to allies while excluding adversaries. As a result, U.S. tech giants are thriving, while Huawei faces increasing isolation in the race for AI supremacy.
Chinese cloud companies, including Huawei, Tencent, and Alibaba, are making significant strides in the Middle East's digital infrastructure, capitalizing on U.S. restrictions and local government partnerships. Huawei plans to invest $400 million in Saudi Arabia's cloud sector by 2028 and has launched multiple data centers in the region, aligning with Saudi Arabia's cloud-first policy. This expansion is part of China's broader Digital Silk Road initiative, enhancing its influence in the tech landscape of the MENA region.
UBS has reiterated its Sell rating on IBM shares, maintaining a price target of $170, despite the company's strong performance and focus on AI integration showcased at the Think 2025 event. IBM, trading near its 52-week high, continues to emphasize hybrid environments and productivity through AI, while also pursuing strategic partnerships to enhance its technological capabilities.
UBS has reiterated its Sell rating on IBM stock, maintaining a price target of $170, despite the company's impressive 52.93% return over the past year and recent advancements in AI showcased at the IBM Think 2025 event. The event highlighted IBM's focus on integrating AI into business operations and its commitment to innovation, including partnerships with Lumen Technologies and Oracle Financial Software. While analysts from Morgan Stanley and BMO Capital Markets have set higher price targets, UBS remains cautious about IBM's valuation.
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