Tag: Tencent Holdings

Inside China’s underground market for high-end Nvidia AI chips
20Jun By adminNo Comments
Technology

Inside China’s underground market for high-end Nvidia AI chips

[ad_1] Psst! Where can a Chinese buyer purchase top-end Nvidia AI chips in the wake of U.S. sanctions? Visiting the famed Huaqiangbei electronics area in the southern Chinese city of Shenzhen is a good bet - in particular, the SEG Plaza skyscraper whose first 10 floors are crammed with shops selling everything from camera parts to drones. The chips are not advertised but asking discreetly works. They don't come cheap. Two vendors there, who spoke with Reuters in person on condition of anonymity, said they could provide small numbers of A100 artificial intelligence chips made by the U.S. chip designer, pricing them at $20,000 a piece - double the usual price. While buying or selling high-end U.S. chips is not illegal in China, U.S. export restrictions have created a de facto undergroun...
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Nvidia’s CEO Plans Trip to Meet China Executives Despite US Curbs
1Jun By adminNo Comments
Technology

Nvidia’s CEO Plans Trip to Meet China Executives Despite US Curbs

[ad_1] Nvidia Corp. Chief Executive Officer Jensen Huang is heading to China to meet with tech executives in the world's biggest chip market, despite rising tensions between Washington and Beijing, according to people familiar with the matter.Huang, who headlined a trade show in Taiwan this week, plans to travel to China for the first time in years in June, said the people, who asked not to be identified because his schedule is private. Companies on his itinerary include gaming leader Tencent Holdings Ltd. and TikTok-owner ByteDance Ltd., one of the people said. Nvidia is emerging as a critical player in the booming field of artificial intelligence, but its position in China has been complicated by geopolitics. US sanctions unveiled by the Biden administration last year prevent the semi...
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Twitter Ceases to Be Independent Company as Elon Musk Makes Drastic Changes
12Apr By adminNo Comments
Technology

Twitter Ceases to Be Independent Company as Elon Musk Makes Drastic Changes

[ad_1] Twitter Inc. has ceased to be an independent company after merging with a newly formed shell firm called X Corp., driving speculation about what Elon Musk intends for the social media platform.Twitter “no longer exists” after being merged with X Corp., according to an April 4 document submitted in a California court for a lawsuit filed against the company and its former chief executive officer, Jack Dorsey, last year by conservative activist Laura Loomer. It's unclear what the change means for Twitter, which has seen a sweeping overhaul since Musk bought the company for $44 billion last year. The billionaire owner has in the past suggested that buying Twitter would be an “accelerant” for creating X — which he dubbed an “everything app.” Musk tweeted about the move Tuesday with th...
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China May Not Need Western Technology Much Longer
10Apr By adminNo Comments
Technology

China May Not Need Western Technology Much Longer

[ad_1] Western countries have become increasingly wary of sharing technology with China, with the US and Netherlands recently imposing new restrictions on exports of semiconductors and the equipment used to make them. Meanwhile, Chinese companies are rising up the list of the world's biggest spenders on research and development — a sign that perhaps they won't need that Western technology much longer.When I last compiled one of these lists five years ago, mobile infrastructure and device maker Huawei Investment & Holding Co. was in sixth place behind Microsoft, just as it is here, but it was the only Chinese company in the global top 25. It has been joined by TikTok owner ByteDance Ltd., WeChat owner and gaming giant Tencent Holdings Ltd. and e-commerce, payments and cloud-computing...
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Tencent to Distribute $20 Billion Meituan Stake as Dividend
16Nov By adminNo Comments
Technology

Tencent to Distribute $20 Billion Meituan Stake as Dividend

[ad_1] Tencent Holdings pledged to distribute the majority of its shares in meal delivery giant Meituan to investors. Tencent Holdings Ltd. pledged to distribute the majority of its shares in meal delivery giant Meituan to investors, as China's social media leader ramps up plans to reduce its extensive holdings across the world's largest internet industry.Tencent, which had announced plans to pare its stake in online retailer JD.com Inc., will dole out more than 958 million Class B stock in Meituan as a special dividend to existing shareholders. Tencent announced the move as it reported revenue shrank for the second straight quarter, underscoring the extent to which China's worsening economy is hurting its biggest private corporations. The decision marks another milestone in Tencent's...
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China’s Tencent starts new round of layoffs -sources
15Nov By adminNo Comments
Technology

China’s Tencent starts new round of layoffs -sources

[ad_1] Chinese tech giant Tencent Holdings has begun a new round of job cuts targeted at its video streaming, gaming and cloud businesses. Chinese tech giant Tencent Holdings has begun a new round of job cuts targeted at its video streaming, gaming and cloud businesses, four sources close to the matter said.The sources said the layoffs affect three out of Tencent's six business divisions - platform and content (PCG), which comprises of its video and news platforms, its gaming-focused interactive entertainment department (IEG) and cloud and smart industries group (CSIG). Two of the sources said some staff in IEG were informed last week they were being laid off. Tencent declined to comment. Reuters was not able to establish the scale of the job losses. China's technology sector continue...
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Alibaba, JD.com Tumble in US as Xi Asserts Full Control in China
24Oct By adminNo Comments
Technology

Alibaba, JD.com Tumble in US as Xi Asserts Full Control in China

[ad_1] The KraneShares CSI China Internet Fund, an exchange traded fund that includes more than 40 Chinese stocks, slid 13%. US-listed Chinese stocks tumbled in premarket trading, with investors spooked by President Xi Jinping's tightening grip on China's ruling party, as he embarks on a precedent-breaking third term with rivals gone and no successor in sight.The KraneShares CSI China Internet Fund, an exchange traded fund that includes more than 40 Chinese stocks, slid 13%. Major Chinese internet stocks from Alibaba Group Holding Ltd. to JD.com Inc. saw double-digit declines. In Johannesburg, Tencent Holdings Ltd.'s biggest shareholder Naspers Ltd. plunged 12%. Monday's selloff came after Xi packed the Politburo Standing Committee with six loyalists during the party's twice-a-decade ...
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