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

12Apr

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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...

China May Not Need Western Technology Much Longer

10Apr

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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...

Meituan’s Billionaire Co-Founder Joins China’s AI Chatbot Rush

10Mar

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Technology

Meituan’s Billionaire Co-Founder Joins China’s AI Chatbot Rush

[ad_1] Billionaire Meituan co-founder Wang Xing is clambering aboard a global investment wave to create ChatGPT-like AI bots. Wang, who's largely stayed out of the limelight in recent years, declared in a WeChat post he'll join a Series A investment round for fellow Meituan co-founder Wang Huiwen's AI startup. The billionaire becomes the latest Chinese tech executive to throw his weight behind the quest to top OpenAI's creation, which has taken the global industry by storm since its November debut. “The AI model makes me excited about the huge productivity that will be created, but also worried about its future impact on the whole world,” said Wang, who rarely posts on WeChat and prefers a social media service he himself founded years ago. “Wang and I have been together on the roa...

India Bans 200-Plus Chinese Mobile Apps in Boon for Paytm

8Feb

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Technology

India Bans 200-Plus Chinese Mobile Apps in Boon for Paytm

[ad_1] India has issued orders to block a further 232 apps and websites, most of which were linked to China, in a sign that relations remain fraught between Asia's two largest countries years after a deadly border skirmish. The federal tech ministry has given orders to remove 138 betting and gambling apps, and 94 credit services, a person familiar with the matter said. The order originated from the interior ministry, which oversees domestic affairs such as national security, the person said, asking not to be identified as the orders haven't been made public. The blocked apps, which include several of Indian origin, were suspected of transferring data to China, the person said. Indian digital payments leader Paytm soared its most on record on Tuesday on the news, which was first re...

How a Mysterious China Screenshot on WeChat Spurred a $450 Billion Rally

2Nov

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Technology

How a Mysterious China Screenshot on WeChat Spurred a $450 Billion Rally

[ad_1] Nobody is quite sure who wrote it, when it was written or if it’s even true. Nobody is quite sure who wrote it, when it was written or if it's even true. But a screenshot of four paragraphs detailing a China reopening plan was enough for traders to scoop up stocks for two days running. The unverified post, which contained black characters on a white background with no identifying marks, first began circulating on Monday night in WeChat social messaging groups filled with analysts and fund managers, according to accounts by a dozen investors who asked not to be identified. By the next morning, it was spreading like wildfire. The screenshot claimed that on Sunday, China's No. 4 official Wang Huning -- one of seven men on the powerful Politburo Standing Committee -- held a me...

Elon Musk’s Everything App ‘X’ Sounds a Lot Like China’s WeChat

5Oct

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Technology

Elon Musk’s Everything App ‘X’ Sounds a Lot Like China’s WeChat

[ad_1] Elon Musk has teased something called “X, the everything app”. It could look a lot like Chinese super-app WeChat. Elon Musk has teased something called “X, the everything app” after he buys Twitter Inc. Based on the billionaire's past comments, that service could look a lot like Chinese super-app WeChat. Musk didn't provide many details beyond a one-line tweet. But the Tesla Inc. impresario has openly admired the Tencent Holdings Ltd. app that's grown from a messaging service to a mini-internet used daily by more than a billion Chinese. He's mused aloud about making Twitter more useful, indicating he wants it to be more like WeChat and TikTok, the video-sharing service owned by ByteDance Ltd. that's taken off across the US. And he's drawn parallels to so-called super apps ...