TMTPOST -- U.S. president-elect Donald Trump expressed the prospect of cooperation with the Chinese government as leadership of the world’s top two economies are holding economic and financial dialogues. Credit：Xinhua News Agency “China and the United States could solve all the problems of the world,” Trump said on Monday in his first news conference since his election victory at Mar-a-Lago club in Pam Beach, Forida. Trump told reporter in the conference that Chinese President Xi Jinping had been his friend, but his relationship with Xi had strained due to the Covid-19 pandemic. "We had a very good relationship until Covid," said Trump when asked whether Xi would attend his inauguration. "Covid didn't end the relationship, but it was a bridge too far for me." China’s Foreign Mini
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Trump Says China and US Can Solve All the World's Problems as High-Level Dialogue Held
Trump Says China and US Can Solve All the World's Problems as High-Level Dialogue Held
Cloud Providers Could Reportedly Get Role in AI Chip Access Outside US amid Increasing China Curbs
TMTPOST -- Major cloud providers in the West could reportedly get role in artificial intelligence (AI) chip access outside U.S.,government as the Biden administration is increasing high-tech curbs on China. Credit：LinkedIn The U.S. government will unveil a scheme as soon as this month that will empower companies like Google and Microsoft to act as gatekeepers worldwide for highly sought-after access to AI chips, Reuters cited people familiar with the matter. Strict requirements under the scheme will require these companies to report key information to the U.S. government, block Chinese access to AI chips and grant permit to offer AI capabilities in the cloud beyond the U.S. without a license, according to the sources. It was reported companies without the gatekeeper status will have to com
Cloud Providers Could Reportedly Get Role in AI Chip Access Outside US amid Increasing China Curbs
Trump Softens Stance as TikTok Asks Supreme Court to Block US Ban
TMTPOST -- U.S. President-elect Donald Trump reversed his hard-line stance against TikTok in his first presidential term in 2020 as the popular short video application is seeking to block a looming ban in the country in the court. Credit：Xinhua News Agency “We’ll take a look at TikTok. You know, I have a warm spot in my heart for TikTok,” Trump said Monday at press conference at Mar-a-Lago club in Pam Beach, Forida. “TikTok had an impact, so we’re taking a look at it.” Trump attributed Republican gains with young voters to TikTok and signaled his openness to stop the social media platform. Later Monday, NBC News reported Trump met with TikTok CEO Shou Zi Chew at Mar-a-Lago. TikTok the same day took its case to the U.S. Supreme Court, asking the court to first consider its appeal of a
Trump Softens Stance as TikTok Asks Supreme Court to Block US Ban
Broadcom Becomes Wall Street’s New Darling as Custom AI Chip Demand Soars
TMTPOST -- In a dramatic shift in the tech sector, Broadcom, a leading U.S. AI network chip manufacturer, has emerged as Wall Street’s new favorite. While competitors like AMD and others continue their uphill battle in the GPU race against NVIDIA, Broadcom has carved out its niche by focusing on custom AI chips. Broadcom’s strategic move has not only attracted market attention but also sent its stock price soaring by 38% over two consecutive trading sessions, propelling its market capitalization above $1 trillion. Broadcom’s meteoric rise positions it as the ninth global company by market capitalization and the third semiconductor firm to surpass the trillion-dollar mark. Meanwhile, NVIDIA—long regarded as the leader in AI technology—has seen its stock decline&nb
Chinese AI Video Company AIsphere Secures Nearly $43 Million in A+ Financing Round
TMTPOST -- Chinese AI video company AIsphere Technology has completed its A2 to A4 funding rounds, raising nearly 300 million yuan (about $43 million), according to its recent announcement. Investors include Ant Group for the A2 round, and the Beijing AI Industry Investment Fund, CAS Investment, and Lighthouse Capital for the A3 and A4 rounds. The funds will be used to enhance R&D capabilities, expand computing resources, and build talent teams, accelerating product iteration and market expansion, the company said in the announcement Founded in April 2023, AIsphere Technology focuses on AI video generation models. Its product, PixVerse, launched in January 2024 for global users, supports text-to-video creation. According to Similarweb, PixVerse h
U.S. Commerce Department Moves to Tighten Restrictions on China Telecom Amid Rising Tensions
TMTPOST -- The U.S. Commerce Department is intensifying efforts to impose further restrictions on China Telecom, seeking to ban its remaining units in the United States. According to a report from The New York Times, the U.S. government is tightening its stance on Chinese companies, particularly after recent cybersecurity breaches targeting U.S. mobile carriers. Last week, the U.S. government issued a notice to China Telecom Americas, the American subsidiary of the Chinese telecommunications giant, citing a preliminary finding that the company’s presence in U.S. networks and its cloud services could pose a national security risk. China Telecom Americas has been given 30 days to respond, and the final decision on whether to impose a ban will be determined by th
Energy Storage Company HiTHIUM Launches Plug-and-Play Home Microgrid System
TMTPOST -- HiTHIUM debuted its first plug-and-play home microgrid system, HeroES, designed for residential users at the Second HiTHIUM Energy Storage Ecosystem Day on December 12. HeroES consists of the Home Smart Storage module (Storage Series) and the Smart Control module (SxnergyBox), said Guan Wei, Director of the HiTHIUM Control Research Institute. This system reduces installation time to just 30 minutes, a significant improvement from the previous time, and lowers initial installation costs by one-third. HeroES uses smart algorithms to enable self-evolving energy management, boosting energy efficiency by 10%. What sets HeroES apart is its innovative use of industrial-grade solutions and capabilities applied to home settings, allowing for complex scenarios with multiple inverter
EU-China Relation is Partnership, Competition, and Systemic Rivalry, Says EU Ambassador to China
TMTPOST -- The relationship between EU and China is the one characterized by partnership, competition, and systemic rivalry, Jorge Toledo Albiñana, the European Union's Ambassador to China has told the audience of the 2024 T-EDGE Conference. Albinana pointed out the growing fragmentation in global markets, specifically between China and the West, last Friday, the first day of the two-day conference. This divergence, which has been escalating in sectors like semiconductors, the internet, and artificial intelligence, is having profound implications on the future of globalization, he added. However, regardless of how global dynamics unfold, he said the importance of China-Europe relations are not dependent on U.S. decisions. He stressed that Europe
Gree Electric Can Now Make its Own Chips, Chairwoman Says
TMTPOST -- Chinese home appliance giant Gree Electric has successfully developed its own chips, according to chairwoman Dong Mingzhu, marking a significant milestone six years after the company initiated its chip development efforts. In an interview with Sina, Dong said that Gree now possesses capabilities spanning chip research, design, and manufacturing, achieved entirely without financial support from the Chinese government. However, she did not specify the types of chips the company is currently producing. “What makes me most proud of is that I built this chip factory without taking a single penny from the government,” said Dong. Back in 2018, Gree established a subsidiary to focus on designing chips for its air conditioners, aligning with its broader strategy to expand into the s
Global Pharma Firms Fail to Secure Any Deal in China’s Recent Drug Procurement Round
TMTPOST -- Transnational pharmaceutical giants such as Pfizer, Bayer, and Merck have failed to secure any contract for their original branded drugs at the 10th round of centralized drug procurement in China on Friday. Several multinational companies chose not to participate at all, indicating a shift in the market where foreign-developed drugs increasingly struggle to compete on price with generics made in China. Non-Chinese drugs, burdened by hefty research and development costs, find it difficult to offer competitive pricing. In some cases, their bids were more than ten times higher than Chinese alternatives. For instance, Merck’s posaconazole injection was priced at 1,420 yuan (US$ 195) per vial, while its enteric-coated tablets were quo
China’s Milk Tea Business Boom Goes Bust, With 200,000 Shops Shutdown
Written by | Hongcan Network In the first half of this year, reports of Xie Yao, the founder of milk tea brand "Yuan Zhenzhen," selling milk tea at a street stall became the talk of the towns across China. Founded in 2019, Yuan Zhenzhen once reached a peak with 300 stores across the country and an annual revenue of nearly 40 million yuan. However, the good times did not last long. Starting from the first half of 2022, with the accelerated expansion of leading brands and the onset of a price war, Yuan Zhenzhen's performance plummeted, and its cash flows became increasingly tight, leading to the closure of numerous stores. By the time the last directly-operated store announced its closure in 2023, Yuan Zhenzhen had accumulated losses exceeding 10 million yuan, and the founder had "fall
China’s Milk Tea Business Boom Goes Bust, With 200,000 Shops Shutdown
Tesla Shares Set Record after Trump Team Said to Hit Crash Reporting Order, Enhanced Smart Summon...
TMTPOST -- Tesla Inc. shares rose 4.3% to $436.23, shattering their record close set on Wednesday. Shares rallied after the transition team of U.S. president-elect Donald Trump was said to hit a regulatory order that was seemed as a positive for the electric vehicle (EV) heavyweight. Credit：Tesla The Trump transition team has recommended the incoming administration scrap a National Highway Traffic Safety Administration (NHTSA) order requiring automakers to report crashes involving self-driving systems, Reuters cited a document on Friday. In the document, the team, which was assigned a task of producing a 100-day strategy for automotive policy, believed the NHTSA order led to “excessive ” data collection. Neither the Team Trump nor Tesla responded to the report. If the reported r
Tesla Shares Set Record after Trump Team Said to Hit Crash Reporting Order, Enhanced Smart Summon...
TikTok Seeks to Pause US Ban Set for January 19 in Supreme Court after Request Denied by an Appea...
TMTPOST -- TikTok will continue its efforts in the court to prevent from a complete ban in the United States due to Washington’s fears tha users data could fall into possession of the Chinese government. Credit：Xinhua News Agency A three-judge panel of the U.S. Court of Appeals for the D.C. Circuit on Friday ruled against TikTok’s request last week for pause of the ban that set a deadline of January 19, 2025 for a sale of its Chinese parent ByteDance Ltd. The popular short video platform and application requested an emergency pause to afford the Supreme Court time to determine if it should review the federal law that forces ByteDance to divest it. But the D.C. Circuit judges said that Congress made a "deliberate choice" to set a 270-day time frame for the sale-or-ban, "subject to one
TikTok Seeks to Pause US Ban Set for January 19 in Supreme Court after Request Denied by an Appea...
Broadcom Stocks Skyrocket 24% over Explosive Outlook following More Than Tripled Yearly AI Chip S...
TMTPOST -- Shares of Broadcom Inc. settled 24.4% higher to $224.80 on Friday, hitting the highest close since the U.S. semiconductor developer and manufacturer went public in 2009. Shares skyrocketed and the market capitalization for the first time topped $1 trillion after the company suggested an explosive sales outlook driven by the artificial intelligence (AI) boom. Credit：Broadcom For the fiscal year 2027, Broadcom's total AI revenue will be at least $60 billion to $90 billion, CEO Hock Tan said on an earnings call late Thursday, noting that the range of serviceable addressable market (SAM) is a conservative estimate as it only includes revenue the company foresees from its existing three big hyperscaler customers. The estimated revenue means the next three years will see Broadco
Broadcom Stocks Skyrocket 24% over Explosive Outlook following More Than Tripled Yearly AI Chip S...
T-EDGE Conference Panel Calls for Use of AI to Address Issues in Traditional Industries
TMTPOST -- While AGI (Artificial General Intelligence) may not be realized in the short term, large models will become more powerful by 2025, generating more products based on specific use cases, Zhou Hongyi, the founder of 360 Group, said during a panel discussion at the T-EDGE Conference. In the coming year, the importance of six key scenarios, including universal AI access, smart everything, and the digital transformation of traditional industries, he added. Zhou made the remarks at a cross-industry conversation "What for AI VS AI for What" at the conference last Saturday. He was joined by Kevin Baragona, founder and CEO of DeepAI; Zhou Yuan, the founder and CEO of Zhihu; Leo Zheng, the founder and CEO of Lighthouse Capital; and Liu Jian
Nvidia Denies Cutting Off Chip Supply in China in the Face of Antitrust Probe
TMTPOST -- Nvidia Corporation dismissed on Thursday rumors that may resulted in an antitrust probe by the Chinese government. Credit：Nvdiia Recently, rumors that Nvidia has cut off supply in China went viral on social media, but they are false, the leading artificial intelligence (AI) chip maker said in a statement posted at Chinese microblogging platform Weibo on Thursday. “China is an important market for Nvidia,” the U.S. company said in the statement. “ Nvidia adheres to the customer-centric principle and will continue to provide Chinese customers with the highest quality, most efficient products and services.” The rumors Nvidia abovementioned came as the Santa Clara, California-based company became a target of an antitrust investigation earlier this week. The probe was
Nvidia Denies Cutting Off Chip Supply in China in the Face of Antitrust Probe
China Said to Target Drone Supplies Critical to Ukraine War amid Increasing US Trade Risks
TMTPOST -- China was said to target drone supplies to the West for Ukraine’s war amid increasing China-U.S. trade risks. Credit：Chinese newspaper Reference News Chinese manufacturers recently began restricting sales to the U.S. and Europe of key components used to build unmanned aerial vehicles, Bloomberg reported ,citing people with knowledge of the matter. It is reported that China will impose broader export restrictions on drone parts in the coming year, and the new rules could take the form of license approvals based on the intended use of the components or softer requirements for Chinese companies to notify the government of their shipment plans. The tighter drone curbs are expected to come as soon as January, the report added. The Chinese authorities didn’t reponde to the repor
China Said to Target Drone Supplies Critical to Ukraine War amid Increasing US Trade Risks
Chinese Stocks Climb as Beijing Vows Further Economic Stimulus Next Year
TMTPOST -- Chinese shares listed at home and abroad climbed on Thursday as China’s top leadership vowed to introduce more economic stimulus for the next year. Credit：Xinhua News Agency The mainland China's SSE Composite Index closed 0.8% higher and the ChiNext index, which tracks stocks traded on the Nasdaq-style subsidiary of the Shenzhen Stock Exchange, gained nearly 1.4% on Thursday. The blue chip CSI 300 index of onshore stocks finished 1% higher and Hong Kong’s benchmark Hang Seng Index up 1.2%. The Nasdaq Golden Dragon China Index, which tracks 65 China-exposed U.S.-listed companies, rose as much as 1% and erked out a nearly 0.2% gain as of close on Thursday, snapping its two-day losses. The index outperformed the U.S. stock market as the benchmark S&P 500 dropped more than 0.5%.
Chinese Stocks Climb as Beijing Vows Further Economic Stimulus Next Year
TikTok Warns U.S. Ban Could Cause $1.3 Billion in Losses for Small Businesses and Creators in a M...
TMTPOST -- TikTok has warned that a ban on its platform in the United States could result in a $1.3 billion loss in revenue and earnings for small businesses and social media creators within just one month in a court filing earlier this month. The potential ban, set to take effect on January 19, stems from a law addressing national security concerns related to ByteDance, TikTok’s China-based parent company. “These losses would grow significantly if the shutdown lasts beyond one month,” noted Blake Chandlee, TikTok’s president of global business solutions, in the filing. Chandlee’s statement was part of TikTok’s request for a federal appeals court to temporarily block the law. The law would compel app stores run by Apple and Google, as well as internet service p
Tesla Shares Surge 6% to Record, Driving Elon Musk's Wealth to $400 Billion
TMTPOST -- Tesla Inc. shares surge around 6% to $424.77 on Wednesday, refreshing their record set on November 4, 2021. Shares of the U.S. electric vehicle (EV) heavyweight registered gains for sixth straight day, driving the CEO Elon Musk’s personal wealth to more than $400 billion. Credit：Tesla Musk become the first billionaire whose net worth topped $400 billion, Bloomberg cited the Bloomberg Billionaires Index ranking the world’s richest people. The milestone mainly results from recent rallies of Tesla stocks. Most of Musk’s fortune is wrapped up in his holdings of Tesla. The entrepreneur owns 411.06 million Tesla shares, as of the latest filings, and about 304 million performance-based options. Tesla stock and options account for about three-quarters of his personal wealth,
Tesla Shares Surge 6% to Record, Driving Elon Musk's Wealth to $400 Billion
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