Alibaba Group Holding is scaling down its metaverse operations, according to a source familiar with the matter, making it the latest Big Tech company to pull back resources from the once-popular sector. Dozens of employees at Yuanjing, the metaverse unit of e-commerce giant Alibaba, have been laid off, as part of a restructuring that aims … Read more
South Korea’s Samsung Electronics said Thursday that its operating profits soared 277 per cent year on year to US$6.6 billion, but missed expectations as it struggled to leverage demand for chips used in artificial intelligence servers. The world’s largest memory chipmaker posted an operating profit of 9.18 trillion won (US$6.6 billion) “largely due to one-off … Read more
The Shenzhen-based company reported a 29.5 per cent jump in revenue to 585.9 billion yuan (US$82.3 billion) in the first three quarters of 2024, up from 452.3 billion yuan in the same period last year, according to a filing to the Shanghai Clearing House, the sole central clearing counterparty in China’s interbank market. However, Huawei … Read more
Huawei Technologies founder and CEO Ren Zhengfei said he appreciates the “openness and inclusivity” of the US tech community, and yet the Chinese company “had no choice” but to build its own tools because of US sanctions. Ren, 80, said Huawei needs to learn from the receptive culture of the US, which has allowed the … Read more
The US will ban outbound investments in China’s semiconductors, quantum technologies and artificial intelligence from January 2 if they are deemed to threaten American national security, a key move in the Biden administration’s efforts to address concerns about the mainland’s progress in advanced technologies. The US Treasury released final rules on Monday to prohibit engagement … Read more
Beijing is moving to boost the country’s talent ranks in the fields of science and technology by creating more doctoral programmes in key areas such as medicine, engineering and emerging fields. The State Council – China’s cabinet – and the Communist Party’s Central Committee issued guidelines on Sunday calling on education authorities and universities to … Read more
China added major gains to its critical mineral reserves and discovered more mineral deposits last year as it ramped up efforts to boost self-reliance and energy security, according to the Ministry of Natural Resources. Increased investment had led to “significant breakthroughs” in oil and gas exploration, while “substantial progress” was made in mineral resources, resulting … Read more
Chinese President Xi Jinping sent a rallying cry for the country to overcome challenges in reforms and technology amid China’s revitalisation push. Xi made the comments when awarding national medals and honorary titles on Sunday as a part of a celebration to mark the 75th anniversary of the founding of the People’s Republic of China … Read more
Huawei has offered samples of its Ascend 910C processor to large Chinese server companies for hardware testing and configuration, according to two sources briefed by the matter. The chip, an upgraded version of the 910B, is being offered to large Chinese internet firms, which are also major Nvidia customers, according to one of the sources, … Read more
Arm Holdings approached Intel Corp about potentially buying the ailing chip maker’s product division, only to be told that the business is not for sale, according to a person with direct knowledge of the matter. In the high-level inquiry, Arm did not express interest in Intel’s manufacturing operations, said the person, who asked not to … Read more
