For seven hours at a Geneva hotel earlier this month, top US and Chinese officials locked into talks on collectively managing their biggest fears around artificial intelligence — while keeping up a cutthroat competition to dominate technology that promises to reshape the global economy.
South Korea has unveiled a $19 billion package of incentives to bolster its chip sector, a boon to Samsung Electronics Co. and SK Hynix Inc. as they race to stay ahead in an increasingly competitive industry.
In a bold display of military might, China initiated extensive drills encircling Taiwan on May 23, a clear signal to the newly inaugurated Taiwanese president, Lai Ching-te. The exercises, involving China's army, navy, air force, and rocket force, were described as a rehearsal for sea and air patrols, battlefield control, and precision strikes.
Cheng-wen Wu, Minister of the National Science and Technology Council (NSTC), said that Taiwan would be happy to share and transfer the experience of science park management to other friendly countries. However, Wu stressed the importance of reciprocity for mutual prosperity.
At the second Global AI Safety Summit, South Korea and the United Kingdom jointly introduced the "Seoul Declaration," committing world leaders to a consensus on principles for the development and regulation of AI.
Despite Samsung Electronics recently appointing a new leader for its Device Solutions (DS) division that comprises memory and foundry units, the company's lag behind SK Hynix in leading the High Bandwidth Memory (HBM) market could become a major obstacle to its semiconductor business amid the widespread adoption of Artificial Intelligence (AI), as noted by industry insiders in South Korea.
The first group of China-made products that the US Biden administration targets will see their tariffs rise on August 1, 2024, according to an announcement from the Office of the US Trade Representative (USTR) on Wednesday. Some machinery for America's domestic manufacturing and solar production may be excluded temporarily.
China-based CCL maker Kingboard Laminates has notified customers of immediate price hikes to reflect growing raw materials costs, according to industry sources.
Taiwanese foundries have seen customers switch orders for Power Management ICs (PMIC) from Chinese chipmakers in the wake of the US decision to raise tariffs for semiconductor imports from China, according to industry sources.
NewLink Group, a Bain Capital-backed firm that provides software to sectors including the electric vehicle-related industry, is seeking as much as $100 million in private debt, according to a person familiar with the matter.
Cheap electric vehicles from China are already pushing into Europe, undercutting one of the region's biggest industries. BYD Co., which overtook Tesla Inc. last year to become the biggest global EV maker, is about to raise the stakes. The Chinese manufacturer last month announced plans to introduce its Seagull hatchback in Europe next year, which offers premium features like cruise control and wireless phone charging but sells for less than $10,000 in China. Even after tariffs and modifications to meet European standards, BYD executives have pledged to sell the Seagull for less than €20,000 ($21,500) on the continent.
In less than six months, Samsung Electronics experienced yet another notable shift in its senior leadership, coinciding with its trailing position behind SK Hynix in the HBM market. This development hints at the possibility of additional organizational restructuring within Samsung's semiconductor division.
Five years after commencing its automotive ambition, Huawei said the unit has come out of the red. Richard Yu, Huawei's chairman of the smart car solutions business unit, recently said the company's automotive business unit and the smart selection car segment have turned profitable in the first quarter of 2024.
