US firm

Foxconn builds world’s largest Nvidia superchip production facility in Mexico amid AI boom

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Foxconn builds world’s largest Nvidia superchip production facility in Mexico amid AI boom

Foxconn, the world’s largest contract electronics manufacturer and Apple’s biggest iPhone assembler, has been benefiting from the artificial intelligence (AI) boom, as it assembles servers used to process AI systems. “We’re building the largest GB200 production facility on the planet,” said Benjamin Ting, senior vice-president at the cloud enterprise solutions business group of Foxconn, formally … Read more

US online retailer iHerb taps Alibaba’s Cainiao for new Hong Kong logistics facility

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US online retailer iHerb taps Alibaba’s Cainiao for new Hong Kong logistics facility

US online retailer iHerb is setting up a new warehouse in Hong Kong with Cainiao Smart Logistics Network, the logistics arm of Chinese e-commerce giant Alibaba Group Holding, seeking to boost its order fulfilment capabilities in Asia. The Hong Kong facility, which will be operated by Cainiao, can process up to 15,000 orders per day, … Read more

Amazon faces uphill battle against Temu and Shein as it woos Chinese merchants, analysts say

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Amazon faces uphill battle against Temu and Shein as it woos Chinese merchants, analysts say

The US e-commerce giant told Chinese merchants in an invite-only meeting on Wednesday that this new online budget marketplace will feature non-branded fashion items, household goods and daily necessities, which will ship directly to consumers from warehouses on the mainland in nine to 11 days. That plan, first reported by online tech publication The Information, … Read more

UK Fintech Sector Secured More Funding Than 28 European Nations Put Together in 2023

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UK Fintech Sector Secured More Funding Than 28 European Nations Put Together in 2023

2023 was a year of downturn for the UK fintech sector but still, it was the second best in attracting funding. According to the latest findings of a report compiled by Innovate Finance based on PitchBook data, UK Fintech funding declined at a steeper rate than the global average decrease in fintech funding in 2023. … Read more