Jonathan Raa | Nurphoto | Getty Images Shares of Chinese tech heavyweight Tencent Holdings tumbled nearly 8% in Hong Kong after the company was added to a list of “Chinese military companies” by the U.S. Department of Defense. The move mirrors an 8% fall in Tencent’s U.S. depository receipts on Wall Street. Other Chinese companies … Read more
The World Artificial Intelligence Conference in Shanghai in July 2023. Aly Song | Reuters Alibaba is cutting prices on its large language models by up to 85%, the Chinese tech giant announced Tuesday. The Hangzhou-based e-commerce firm’s cloud computing division, Alibaba Cloud, said in a WeChat post that it’s offering the price cuts on its … Read more
China’s race to develop smarter-than-human artificial intelligence may put it ahead of the U.S., but such ground-breaking technology could also risk lessening the stronghold that the ruling Communist Party has over the world’s second-largest economy. That’s the view of prominent AI scientist Max Tegmark, who told CNBC artificial general intelligence (AGI) is closer than we … Read more
A car with autonomous driving system by Alibaba-backed DeepRoute.ai, drives on a street in Shenzhen, Guangdong province, China July 27, 2022. David Kirton | Reuters BEIJING — Deeproute.ai, a Chinese startup developing autonomous driving systems, announced a $100 million funding round Tuesday from an undisclosed automaker, while emphasizing close ties with chipmaker Nvidia. Pitchbook data … Read more
Patrick Collison, CEO and co-founder of Stripe, speaking at 2022’s Italian Tech Week in Turin, Italy. Giuliano Berti | Bloomberg | Getty Images Founders of some of Europe’s largest technology unicorns on Monday backed an open letter calling for a “tech renaissance” fueled by the creation of a single pan-European entity to promote startups and innovation in … Read more
“We’re Hiring” flyers displayed at the Albany Job Fair in Latham, New York, US, on Wednesday, Oct. 2, 2024. Angus Mordant | Bloomberg | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where … Read more
The Ubisoft logo displayed during the Brand Licensing Europe at ExCel London on September 24, 2024. John Keeble | Getty Images Shares of French video game publisher Ubisoft surged more than 30% on Friday after a media report that Tencent and the firm’s founding Guillemot family are considering a potential buyout of the company. Bloomberg … Read more
The Alibaba office building is seen in Nanjing, Jiangsu province, China, Aug 28, 2024. CFOTO | Future Publishing | Getty Images Chinese tech stocks, including beaten-down names like Alibaba, rallied this week, hitting highs not seen in more than a year after China’s central bank announced measures to stimulate the world’s second-largest economy. The Hang … Read more
Internet investing firm Prosus NV has fully cut its stake in Chinese online travel agency company Trip.com in a US$743 million block trade, according to people familiar with the matter, becoming the latest international investor to exit a Chinese tech company. Prosus sold 14.5 million shares in Trip.com at US$51.40 each in a block trade … Read more
Illustration of the China and U.S. flag on a central processing unit. Blackdovfx | Istock | Getty Images U.S. sanctions over the years on China’s semiconductor industry has forced Beijing to ramp up efforts to boost its domestic chip sector. The boom of artificial intelligence and foundational models has only spurred on China’s goal of … Read more
