Dominant Chinese drone maker ditches geofencing that kept its drones out of US no-fly zones
Chinese drone maker DJI has removed strong restrictions from its software that prohibited its drones from flying in US restricted airspace. Previously, DJI had implemented “geofencing” that would not ...
Chinese officials are floating the idea of selling TikTok to Elon Musk: report
TikTok’s time in the US appears to be almost up unless ByteDance sells the short-form video app to an American buyer. Chinese officials have floated the idea that X owner Elon Musk could take over Ame...
Cleveland-Cliffs CEO vows vengeance on Nippon Steel’s leader as he brazenly vies to buy US Steel
Cleveland-Cliffs is poised to make another attempt at purchasing after US President Joe Biden kiboshed the acquisition of the Pittsburgh-based miner by Japan’s Nippon Steel. Lourenco Goncalves, CEO o...
Semiconductor stocks get slammed as Biden restricts sales to “countries of concern” like China
Chip stocks are getting pummeled as the Biden administration unveiled a new framework for semiconductor exports — its AI Diffusion rule — that restricts the ability of China and other “countries of co...
Could TikTok’s sister app offer a lifeline for ByteDance and creators?
Tomorrow marks one of the biggest days in recent history for ByteDance, and for the most screen-addicted Americans in your life, as representatives from the Chinese tech giant make last-ditch appeals ...
Nvidia, AMD slump after-hours on report of further chip-export curbs
Bloomberg reports that President Joe Biden plans to enact further restrictions on AI chips used in data centers in a bid to ensure this critical technology is concentrated in the hands of America and ...
Tesla supplier CATL, as well as tech giant Tencent, named as “Chinese military companies” by Pentagon
Every year, the Secretary of Defense is required to publish a list of “Chinese military companies.” One of the latest to be added to that list is a big one — in fact, it’s China’s biggest company by m...
Warning signs for Apple’s iPhone sales in China
iPhone sales in China continue to drop, according to a new report. CNBC reports that shipments to China of foreign smartphones fell by 47% year over year in November to 3.04 million units, continuing ...
US Steel slumps after Biden blocks takeover attempt by Japan’s Nippon
Nippon Steel’s acquisition of US Steel has been blocked by US President Joe Biden. In his decision, Biden said that will remain “American-owned, American-operated, by American union steelworkers.” Sh...
Chinese EV maker Nio shows signs of life
With its economy ailing, China has been leaning heavily on both automotive exports to support employment and a cash-for-clunkers-style trade-in program in an effort to goose domestic spending. Whether...
ByteDance to spend $7 billion on Nvidia GPUs despite export controls
According to reporting from The Information, ByteDance, the Chinese company behind TikTok, plans to take advantage of loopholes in American export controls to spend $7 billion on Hopper GPUs in 2025....
Chinese yields are signaling a deep recession, if not worse
Lingling Wei, The Wall Street Journal’s top China watcher, spotlights the growing discrepancy between rosy official economic statistics and the ominous plunge in China’s bond yields, which we’ve menti...
Elon Musk’s competitors Sam Altman and Jeff Bezos say Musk won’t use his position to hurt competition
Elon Musk wasn’t at the New York Times DealBook Summit yesterday, but he was one of the elephants in the room. The big question: whether Musk will use his new governmental position to favor his own bu...
Mexico is bracing for a tricky relationship with the US. This time it could play hardball
Mexico is used to balancing a finicky relationship with its northern neighbor. As it braces for a second Trump term, it might be better positioned than ever to play hardball. Having a neighbor like th...
Sell-off in South Korea after president declares martial law
South Korean assets are tumbling after President Yoon Suk Yeol declared martial law for the first time since the 1980s. Yoon said the move was necessary because the opposition party “paralyzed the adm...
The bond market doesn’t see Chinese growth rebounding any time soon
China’s economy has been a mess for most of the last five years. Pick your reasons: Covid, followed by harsh lockdowns . A poorly thought through crackdown on Chinese tech companies. One of the worst ...
Elon Musk’s long list of enemies in tech
“First Buddy” Elon Musk sure has a lot of beefs — especially with people who happen to compete in one way or another with and his five other companies. Those beefs are going to become a lot more impo...
Russia’s ruble has hit its lowest level since the early days of the Ukraine war
The Russian ruble has plummeted to its weakest level since early 2022, trading at over 114 to the US dollar at one point yesterday — following a drop of over 7% on Wednesday and a 20% decline this yea...
Military chatbot powered by Meta AI is pitched as a friendly airstrike helper
AI startup Scale AI is advertising a customized AI chatbot for use in the military called “Defense Llama,” powered by Llama 3 LLM. On a marketing page on Scale AI’s website, a theoretical chat showed...
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“Snacks Mix”: Spirit goes bust, Walmart is the new Target, China’s poaching plan
Nia Warfield and Jack Raines run through this week’s market maze as Spirit files for bankruptcy, Walmart and Target tell a tale of two retailers, and Chinese AI companies try to poach US talent. The s...