China's Ministry of Commerce (MOFCOM) has released a policy paper rejecting allegations that the country's manufacturing sector suffers from "overcapacity," arguing that the concept has been misused to justify protectionist trade measures against Chinese exports. The document, published on July 28, 2026, outlines Beijing's position on industrial policy, trade balances and global supply chains.
Qualcomm Technologies and BMW Group have signed a long-term agreement under which Qualcomm will supply compute silicon for BMW's next-generation digital cockpit and advanced driver assistance and automated driving systems. The deal, announced on July 29, extends the partnership through the next decade, although financial details of the agreement have not been revealed.
Meta Platforms' second-quarter results showed a widening gap between its fast-growing advertising business and the cost of building AI infrastructure. Free cash flow fell to US$784 million, while the company lifted the lower end of its 2026 capital expenditure forecast to US$130 billion.
Microsoft reported stronger-than-expected fiscal fourth-quarter results, driven by accelerating Azure cloud growth and rising adoption of its AI products, reinforcing investor confidence that the company's heavy investments in AI are generating commercial returns. Robust guidance for the current quarter and continued enterprise demand also eased concerns over spending on AI infrastructure.
Meta Platforms delivered stronger-than-expected second-quarter revenue, but weaker earnings, shrinking free cash flow and a cautious third-quarter outlook intensified investor scrutiny of its rapidly expanding AI infrastructure budget.
Qualcomm has completed its acquisition of Modular, strengthening its push into AI software that can run across devices, data centers, and edge systems worldwide. The deal could broaden access to more efficient generative and agentic AI tools, while intensifying competition in a fast-growing market shaping global computing infrastructure.
Arm Holdings reported stronger-than-expected first-quarter results as demand for AI and data center chips lifted licensing and royalty revenue. However, the company's warning of slower smartphone royalty growth overshadowed its upbeat forecast, highlighting the challenge of balancing maturing handset markets with expanding AI opportunities.
As power grids, renewable energy systems, and artificial intelligence data centers expand, a new US restriction on Chinese-made inverters and robots could affect suppliers, utilities, and security policies well beyond America. The move may accelerate shifts in global sourcing, tighten scrutiny of connected devices, and influence how other markets manage critical infrastructure risks.
Meta Platforms reported strong second-quarter revenue growth driven by its Family of Apps business, but lower profit and a higher spending outlook highlighted the mounting costs of its artificial intelligence (AI) expansion. The company's updated guidance and ongoing legal challenges prompted investor concerns over the pace of returns from its AI investments.
Global automakers are facing slower market growth, the rapid rise of Chinese carmakers, and sustained EV investment, with Volkswagen, BMW, and Mercedes-Benz under strain in recent years. While German automakers still lead the global auto industry, revenue and profitability have come under broad pressure over the past two years as competition shifts from volume growth to product value and operating efficiency.
AI infrastructure competition is intensifying, but the market is no longer focusing only on GPU performance and is instead re-evaluating the entire computing system. For AMD, the chance to turn software improvements into market share is now emerging, but two hurdles remain: whether ROCm can run stably in large clusters and whether Helios can enter mass production and ship on time.
More coverage
