SHANGHAI, CHINA – NOVEMBER 12, 2023 – Customers experience Luxeed S7, the first intelligent pure electric vehicle, at Huawei’s flagship store in Shanghai, China, November 12, 2023. (Photo by Costfoto/NurPhoto via Getty Images) Nurphoto | Nurphoto | Getty Images BEIJING — Chinese telecommunications and smartphone giant Huawei is doubling down on selling its tech in … Read more
Sheldon Cooper | LightRocket | Getty Images TikTok parent company ByteDance is cutting hundreds of jobs in its gaming division, a person familiar with the matter told CNBC, marking a significant retreat from a segment it has invested billions of dollars in to challenge market leader Tencent. “We regularly review our businesses and make adjustments … Read more
Signage at the Alibaba Group Holding Ltd. booth at the Smart China Expo in Chongqing, China, on Monday, Sept. 4, 2023. Qilai Shen | Bloomberg | Getty Images U.S.-listed shares of Chinese e-commerce giant Alibaba slid Thursday after it announced it would not proceed with the full spinoff of its cloud group due to U.S. chip export … Read more
A Chinese flag flies outside a residential compound in Beijing on April 30, 2017. Greg Baker | Afp | Getty Images Chinese companies have gained ground in global patent holdings in the cybersecurity technology sector amid growing U.S.-China tensions, according to a report from Nikkei Asia on Sunday. Chinese firms such as Huawei and Tencent accounted … Read more
Courier handing over package asking female customer to do electronic signature, delivering, receiving, efficiency 10’000 Hours | Digitalvision | Getty Images Shares of Indonesia’s J&T Express fell 1.33% when it went public on Friday. The logistics service provider traded at 11.84 Hong Kong dollars ($1.51) on Friday morning, after opening at HK$12. The HK$3.92 billion … Read more
An undated conceptual illustration of China’s technology aspirations. Yaorusheng | Moment | Getty Images Chinese technology giants including Alibaba and Tencent are among backers of Zhipu, the company said on Friday, an artificial intelligence start-up the country is hoping can be an answer to American firm OpenAI. Zhipu has raised more than 2.5 billion Chinese … Read more
An undated conceptual illustration of China’s technology aspirations. Yaorusheng | Moment | Getty Images China plans to increase its computing power by 50% by 2025, the country’s key ministries said Monday, as it looks to keep pace with the U.S. in artificial intelligence and supercomputing applications. The world’s second-largest economy wants to have computing capacity … Read more
A Now hiring sign at Taco Bell in Fullerton, CA, on Monday, Sept. 13, 2021. Jeff Gritchen | Medianews Group | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. … Read more
Signage on the Alibaba Group Holding Ltd. sales space on the Sensible China Expo in Chongqing, China, on Monday, Sept. 4, 2023. Qilai Shen | Bloomberg | Getty Photographs Alibaba must be “person first” and “AI-driven,” new CEO Eddie Wu instructed staff on Tuesday, as he laid out the strategic priorities for the Chinese language … Read more
Tencent has confronted quite a lot of headwinds in 2022 together with a Covid-induced slowdown within the Chinese language economic system and a harder marketplace for gaming. Bobby Yip | Reuters Tencent on Wednesday reported a surge in revenue for the second quarter, however missed expectations, as its cost-cutting measures started to repay and gross … Read more