South Korea prepares support package worth over $7 billion for chip industry
SEOUL (Reuters) - South Korea is readying plans for a support package for chip investments and research worth more than 10 trillion won ($7.30 billion), the finance minister said on Sunday, after setting its sights on winning a "war" in the semicon...
May 12, 2024
Apple's New Jersey store workers vote against unionizing, Bloomberg reports
(Reuters) - Workers at Apple's store in Short Hills, New Jersey, have voted against unionizing, Bloomberg News reported on Saturday. (Reporting by Gnaneshwar Rajan in Bengaluru; Editing by William Mallard)
May 12, 2024
Arm Holdings plans to launch AI chips in 2025, Nikkei reports
(Reuters) - SoftBank Group's Arm Holdings plans to develop artificial-intelligence chips, seeking to launch the first products in 2025, Nikkei Asia reported on Sunday. UK-based Arm will set up an AI chip division and aim to build a prototype by spr...
May 11, 2024
Musk's X Corp loses lawsuit against Israeli data-scraping company
By Jonathan Stempel (Reuters) - A U.S. judge dismissed a lawsuit in which Elon Musk's X Corp accused an Israeli data-scraping company of illegally copying and selling content, and selling tools that let others copy and sell content, from the social...
May 10, 2024
Elon Musk says Tesla will spend $500 million to expand charging network
(Reuters) - Tesla will spend more than $500 million to expand its fast-charging network, CEO Elon Musk said on Friday, days after abruptly laying off employees who were running the business. "That's just on new sites and expansions, not counting op...
May 10, 2024
US bill to restrict WuXi AppTec, Chinese biotechs revised to give more time to cut ties
By Karen Freifeld (Reuters) -A new version of a bill that would restrict U.S. business with certain Chinese biotechnology companies including WuXi AppTec and BGI would give U.S. companies until 2032 to end work with the firms, extending the amount of t...
May 10, 2024
Binance registers with India's financial watchdog as it seeks to resume operations
By Jaspreet Kalra MUMBAI (Reuters) - Binance, the world's largest cryptocurrency exchange, has registered with India's Financial Intelligence Unit (FIU), a senior FIU official said on Friday, as the exchange seeks to resume operations in the countr...
May 10, 2024
FBI working towards nabbing Scattered Spider hackers, official says
By Zeba Siddiqui SAN FRANCISCO (Reuters) - The U.S. FBI is working towards charging hackers from the aggressive Scattered Spider criminal gang who are largely based in the U.S. and western countries and have breached dozens of American organisation...
May 10, 2024
China's Zeekr set to debut on NYSE after upsized IPO
(Reuters) - Shares of China's Zeekr Intelligent Technology were scheduled to start trading on the New York Stock Exchange on Friday after the electric-vehicle maker priced its initial public offering at the top end of its marketed range. The debut ...
May 10, 2024
Crypto group with 440,000 members launches PAC to target House, Senate elections
By Stephanie Kelly NEW YORK (Reuters) - A cryptocurrency nonprofit has launched a new political action committee (PAC) to raise money from its 440,000 members for crypto-friendly politicians, and is endorsing a bipartisan slate of candidates runnin...
May 10, 2024
Foxconn's Q1 profit to jump from low base, AI to power growth
TAIPEI (Reuters) - Taiwan's Foxconn, the world's largest contract electronics maker, is expected to report on Tuesday that first-quarter profit more than doubled on robust demand for artificial intelligence servers and after coming off a low base a...
May 10, 2024
Australian regulator says Musk's X should not set limits of internet law
By Byron Kaye SYDNEY (Reuters) - Elon Musk's X has policies to take down harmful content when it chooses but should not be allowed to overrule Australian law in deciding what can be viewed there, a lawyer for the cyber regulator told a hearing into...
May 10, 2024
Apple apologizes for iPad Pro 'Crush' ad, Ad Age says
(Reuters) - Apple apologized on Thursday after an advertisement for its latest iPad Pro model sparked criticism by showing an animation of musical instruments and other symbols of creativity being crushed, Ad Age magazine reported. "Our goal is to ...
May 10, 2024
US lawmakers unveil bill to make it easier to restrict exports of AI models
WASHINGTON (Reuters) - A bipartisan group of lawmakers unveiled a bill late Wednesday that would make it easier for the Biden administration to impose export controls on AI models, in a bid to safeguard the prized U.S. technology against foreign ba...
May 10, 2024
US set to impose tariffs on China EVs and other strategic sectors, Bloomberg reports
(Reuters) -The Biden administration is set to announce new China tariffs next week that target strategic sectors including electric vehicles, batteries and solar equipment, Bloomberg News reported on Thursday. The full announcement, scheduled for Tues...
May 10, 2024
Australia targets social media with parliamentary probe
By Renju Jose SYDNEY (Reuters) - Australia announced on Friday that it would hold a parliamentary inquiry to look into the negative impacts of social media platforms, saying they have significant reach and control over what Australians see online, ...
May 10, 2024
OpenAI plans to announce Google search competitor on Monday, sources say
By Anna Tong (Reuters) - OpenAI plans to announce its artificial intelligence-powered search product on Monday, according to two sources familiar with the matter, raising the stakes in its competition with search king Google. The announcement date,...
May 09, 2024
Gen Digital beats quarterly revenue estimates
(Reuters) - Cybersecurity firm Gen Digital beat Wall Street's fourth-quarter revenue estimate on Thursday, as customers spend more on cybersecurity networking solutions to combat sophisticated online threats. Demand for Gen Digital's cybersecurity ...
May 09, 2024
Exclusive-Chinese EV maker Zeekr prices US IPO at top of range to raise $441 million, source says
By Echo Wang NEW YORK (Reuters) - Chinese electric vehicle maker Zeekr Intelligent Technology priced its U.S. initial public offering (IPO) at the top of its indicated range on Thursday, raising $441 million, a person familiar with the matter said....
May 09, 2024
Explainer-What risks do advanced AI models pose in the wrong hands?
WASHINGTON (Reuters) - The Biden administration is poised to open up a new front in its effort to safeguard U.S. AI from China and Russia with preliminary plans to place guardrails around the most advanced AI models, Reuters reported on Wednesday. ...
May 09, 2024
TikTok to label AI-generated images, video from OpenAI and elsewhere
By Stephen Nellis (Reuters) - TikTok said on Thursday it would start using a technology aimed at helping it label images and video generated by artificial intelligence and uploaded to the video sharing service. TikTok said it would adopt "Content C...
May 09, 2024
Arm shares fall as tepid forecast takes shine off AI optimism
(Reuters) - Shares of Arm Holdings fell 8% in premarket trading on Thursday as the chip designer's downbeat annual revenue forecast cooled some of the enthusiasm around the stock following its AI-powered jump in recent months. Bets that Arm will be...
May 09, 2024
Canada fines Binance $4.38 million for money laundering violations
(Reuters) - Canada's anti-money laundering agency on Thursday said it had imposed a nearly C$6 million ($4.38 million) fine on cryptocurrency exchange Binance for violating the money laundering and terrorist financing laws. The Financial Transactio...
May 09, 2024
SMIC misses Q1 profit estimates
By Liam Mo and Brenda Goh BEIJING (Reuters) - Semiconductor Manufacturing International Corp reported first-quarter net income of $71.79 million on Thursday, missing analysts' expectations. Unaudited profit attributable to owners of China's largest...
May 09, 2024
Roblox cuts annual bookings forecast on muted player spending
By Zaheer Kachwala (Reuters) - Roblox cut its annual bookings forecast on Thursday, in a sign that people were dialing back on spending within its video-gaming platform amid an uncertain economic outlook and elevated levels of inflation. The compan...
May 09, 2024