News 6/21

Aug 142 min read

DBS Partners with Ant International to Launch Treasury Tokens for Cross-Border Liquidity Management

DBS and Ant International collaborate on a treasury token pilot project for cross-border liquidity management. The DBS treasury token aims

Aug 142 min read

Global Electric Vehicle Sales Surge by 21% in July with China Leading the Way

Global electric vehicle sales surged by 21% in July, driven by strong growth in China. European EV sales declined by 7.8% in July, while the

Aug 142 min read

Shopee-owner Sea Indicates Strong Online Shopping Momentum with Revenue Exceeding Expectations

Sea Ltd surpasses revenue estimates for Q2. Shopee's GMV expected to grow by mid-20% this year. E-commerce revenue up by 34% to US$2.8 billi

Aug 132 min read

Guangdong's AI industry hits US$25 billion as it competes with Beijing and Shanghai

Guangdong's AI industry reaches 180 billion yuan in 2023. Shenzhen contributes 44% of the province's AI industry valuation.

Aug 132 min read

Xiaomi's Expansion in Latin America, Japan, and India Amidst Fierce Smartphone Competition in China

Xiaomi secures the second-largest smartphone brand position in Latin America with a 19% market share. In Japan, Xiaomi becomes the third-lar

Aug 131 min read

Alibaba's AI Model Qwen2-Math Surpasses Competitors in Mathematics

Alibaba introduces Qwen2-Math, an open-source AI model. Qwen2-Math achieves 84% accuracy in algebra and geometry problem-solving.

Aug 122 min read

China Embraces Low-Altitude Innovation: Cargo Drones and Air Taxis Take Flight

China conducts test flights for massive cargo drones and helicopter taxi services. Aviation Industry Corp of China (AVIC) leads the way with

Aug 82 min read

Indonesia Unveils China-Built Anode Plant for Electric Vehicle Batteries

Indonesia inaugurates a new anode plant for EV batteries built by China's BTR New Material Group and Singapore's Stellar Investment.

Aug 82 min read

Sony Reports 10% Increase in Profits Driven by Image Sensors and Games

Sony reports a 10% rise in operating profit for the April-June quarter. Profits in the image sensors business nearly tripled, driven by fore

Aug 72 min read

Chinese Companies Stockpile Samsung Chips Amid Anticipated US Export Restrictions

Chinese tech giants and startups are stockpiling Samsung's HBM chips in anticipation of potential U.S. export restrictions.

Aug 62 min read

Financial Turbulence Hits Global Markets

As the financial markets navigate through this period of uncertainty, experts recommend a cautious approach and emphasize the importance of

Aug 52 min read

Nvidia's New China-Ready GPUs Face Uncertainty Amid Chip Restrictions

Nvidia faces uncertainty over B20 chip delivery amidst potential chip restrictions. The company has encountered challenges due to US sanctio

Aug 22 min read

Donald Trump's Offer to Chinese Carmakers Could Accelerate US Shift to Electric Vehicles

Trump extends invitation to Chinese carmakers to establish factories in the US. Shift in Trump's stance on EVs, recognising Chinese

Aug 12 min read

Alibaba to Introduce AI-Powered Sourcing Engine to Enhance Online Trade for Global Merchants

Alibaba to deploy AI-powered sourcing engine for global merchants. Introduction of AI-driven tool to streamline B2B e-commerce.

Aug 12 min read

Amazon to Ramp Up AI Investments Amid Big Tech's Spending Surge

Amazon's capital spending on AI set to surge by 43% in the second quarter. Competition intensifies between Amazon's AWS and Microsoft's Azur

Aug 12 min read

China Closes AI Gap with US Amid Chip Restrictions

China narrowing AI gap with US through rapid AI application deployment. Chinese tech firms developing own LLMs despite chip restrictions.

Aug 12 min read

Microsoft's Cloud Business Boosts Quarterly Profits by 10%

Microsoft reports a 10% rise in quarterly profits, with a profit of US$22 billion. Revenue for the April-June period reaches US$64.7 billion

Jul 312 min read

AMD Boosts AI Chip Revenue Forecast and Expects Tight Supplies

AMD raises its 2024 AI chip revenue forecast by US$500 million. Tight supplies of AI chips expected until 2025.

Jul 312 min read

Microsoft's Stock Declines While Chipmakers Surge Amid AI Market Shift

Microsoft's disappointing quarterly results lead to a $340 billion decline in stock market value. Chipmakers like Nvidia and AMD experience

Jul 302 min read

Xiaomi Expands EV Production with $116 Million Beijing Site Acquisition

Xiaomi purchases a 53-hectare site in Beijing for $116 million to expand EV production. The company aims to achieve its sales goal of 100,00