Huawei Prepares to Challenge Nvidia with New AI Chip Amid U.S. Sanctions
Huawei Technologies is nearing the launch of its Ascend 910C chip, designed to rival Nvidia’s AI processors in China. Tested by major Chinese firms like ByteDance and Baidu, the chip reportedly matches Nvidia’s H100, which is restricted under U.S. sanctions. With the potential to ship as early as October, Huawei could receive orders exceeding 70,000 chips, valued at $2 billion.
China Hits 100 Billion Parcel Milestone as E-Commerce Surges
China’s courier sector is booming, surpassing 100 billion parcels delivered this year, reaching the milestone 71 days earlier than in 2023. The country now handles 5,144 packages every second, with peak daily volumes exceeding 580 million. China remains the largest global e-commerce market, with online retail sales hitting $2.1 trillion in 2023. Advances in rural logistics and infrastructure have significantly improved delivery speeds, with packages now reaching remote areas in as little as two days.
Tencent Exceeds Q2 Expectations with Strong Gaming and Advertising Growth
Tencent outperformed Q2 estimates, posting an 8% year-on-year revenue increase to 161.12 billion yuan ($22.5 billion) and an 82% profit surge to 47.63 billion yuan. The gaming giant saw accelerated growth in its China games division, driven by the successful launch of Dungeon & Fighter Mobile, which contributed to a 9% revenue increase. International gaming also grew by 9%, while online advertising revenue rose 19%, bolstered by video ads on WeChat.
U.S. DOJ Considers Breaking Up Google After Antitrust Ruling
The U.S. Department of Justice is exploring options to break up Google following a recent court ruling that found the company illegally monopolized the online search market. The potential actions include forcing Google to share data with competitors, restricting its advantage in AI products, and possibly divesting its Android operating system, AdWords, or Chrome browser. This development comes after the DOJ’s landmark win against Google and reflects broader efforts to curb Big Tech’s dominance.
WeRide Gains Approval to Test Driverless Vehicles with Passengers in California
TikTok and Amazon have launched a partnership allowing users to shop directly on the ByteDance-owned platform. Users will see Amazon product recommendations on TikTok’s “For You” feed, with features including real-time pricing and delivery estimates in the US. The integration lets users complete purchases without leaving TikTok by linking their Amazon accounts. This collaboration aims to boost both platforms’ e-commerce ventures amid growing competition from Shein and Temu.
Texas Instruments Secures $1.6 Billion in U.S. Funding to Boost Domestic Chip Production
Texas Instruments (TI) is set to receive $1.6 billion from the U.S. Commerce Department to support the construction of three new chip manufacturing facilities in Texas and Utah. The funding, part of the CHIPS and Science Act, is aimed at strengthening U.S. semiconductor production. TI plans to invest over $18 billion by 2029, creating 2,000 jobs.
Elon Musk's xAI Launches Grok-2, Challenging Top AI Rivals
Elon Musk’s AI startup xAI has introduced Grok-2, a chatbot rivaling OpenAI, Google, and Anthropic.Despite xAI’s rapid progress, fueled by significant investments and a recent $6 billion funding round, controversy looms over its use of data from X, leading to partial suspension in Europe. Grok-2 aims to outshine competitors by improving instruction-following and factual accuracy, addressing previous issues of “hallucinations” that hinder AI adoption.
