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Huawei's new semiconductor, the Ascend 910C, reportedly achieves 60-80% of NVIDIA's H100 performance at a significantly lower cost, challenging the dominance of U.S. tech giants. Meanwhile, U.S. export controls aim to limit China's access to advanced AI chips, as companies like DeepSeek disrupt the market with competitive, lower-cost alternatives. The ongoing race for AI supremacy highlights the shifting dynamics in global technology, with both U.S. and Chinese firms vying for leadership.
Huawei Technologies is focusing on enhancing AI chip performance through innovative methods like cluster computing, despite being a generation behind US competitors. CEO Ren Zhengfei emphasized the company's significant investment in research and the potential of compound chips, while addressing concerns over US export controls. Huawei's Ascend series competes with Nvidia, and recent developments suggest that its AI systems may outperform Nvidia's offerings in certain metrics.
WeRide has initiated a $100 million share buyback after its stock plummeted over a third since its IPO, highlighting challenges in achieving profitability amid significant R&D expenditures. Meanwhile, Huawei's Harmony OS struggles to build a competitive ecosystem, hosting only 13,000 apps compared to rivals, as it faces the dilemma of nurturing partnerships while competing in various sectors.
Turnkey, a New York-based crypto wallet startup founded by former Coinbase employees, has secured $30 million in a Series B funding round led by Bain Capital Crypto, with participation from notable investors like Sequoia Capital and Galaxy Ventures. The funding will enhance Turnkey’s modular infrastructure and support open-source initiatives, reflecting a shift in the crypto market towards essential infrastructure development that facilitates mainstream applications. As traditional finance increasingly integrates crypto capabilities, Turnkey positions itself as a bridge, addressing the challenges faced by crypto startups in accessing banking services while aiming to simplify user experiences through its wallet solutions.
The Russell 2000 has surpassed a key resistance level at 2110 points, validating an inverted head-and-shoulders pattern and signaling improved market sentiment towards US small and mid-cap stocks. This upward movement reflects growing optimism about the US economy, despite potential volatility from geopolitical tensions. The focus will now shift to macroeconomic data, particularly employment figures, which remain stable, supporting a positive outlook for sector rotation.
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Roblox has appointed Naveen Chopra, former CFO of Paramount, to lead its financial strategy amid record user growth, with daily active users rising 26% to 97.8 million. Despite a 29% revenue increase to $1.04 billion in Q1 2025, the company faces significant profitability challenges, posting a net loss of $216 million. To expand its demographic reach, Roblox is targeting older users with new experiences and partnerships aimed at monetizing engagement hours that currently generate no revenue.
Huawei's founder, Ren Zhengfei, asserts that the US is overstating the company's chip advancements, acknowledging that while Huawei has made progress in computing and AI, significant challenges remain in the chipset sector. He emphasized the need for improved strategies amid ongoing US-China tech tensions, noting that despite some technical successes, Huawei's achievements in chips are not as formidable as portrayed.
LG Group Chairman Koo Kwang-mo visited Indonesia to inspect the HLI Green Power battery plant, a joint venture with Hyundai Motor Group, emphasizing the need for enhanced global competitiveness in EV battery production. The facility, which began mass production in April 2023, currently produces enough batteries to power 150,000 EVs annually. LGES plans to invest an additional $1.7 billion to boost production capacity, reflecting Indonesia's strategic role as a key player in the global EV supply chain due to its significant nickel reserves.
Huawei CEO Ren Zhengfei has minimized the effects of US sanctions, outlining the company's strategy to innovate despite trade restrictions and aiming to secure China's long-term leadership in artificial intelligence. His comments coincide with high-level US-China talks in London, reflecting Beijing's intent to assert its strength during negotiations.
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