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Chip Heavyweight Hynix's Revenue Beats as AI Lifts Memory Demand

(Bloomberg) -- SK Hynix Inc.’s quarterly sales beat estimates, and the company declared surging interest in artificial intelligence was driving the beginnings of a recovery in the memory chip market.Most Read from BloombergChina Replaces Foreign Minister After Mysterious Absence‘We Were Wrong’: Morgan Stanley’s Wilson Offers Stocks Mea CulpaTwitter Turning Into X Set to Kill Billions in Brand ValueMusk Explains Why He’s Axing Twitter Name, Iconic Bird LogoRolex...
South Korea United States South Korean Bloomberg Businessweek Masahiro Wakasugi Youkyung Lee
Source: yahoo.com

China AI Chip Firm Targeting Nvidia Seeks Hong Kong IPO in 2023

(Bloomberg) -- Chinese chip startup Shanghai Biren Intelligent Technology Co. is considering an initial public offering in Hong Kong as soon as this year, according to people familiar with the matter, aiming to capitalize on a wave of local clients turning to its AI chips as an alternative to banned Nvidia Corp. silicon.Most Read from BloombergMassive US Oil Caverns Sit Empty and Will Take Years to RefillSingapore House Speaker Resigns in New Blow to Ruling PartyDollar’s Busted Bull Run H...
Hong Kong Gao Yuan Edwin Chan Jane Zhang Debby Wu Bloomberg Businessweek
Source: yahoo.com

Alibaba Surges on Report China to Unshackle Ant With Fine

(Bloomberg) -- Alibaba Group Holding Ltd. shares jumped in Hong Kong trading after Reuters reported that China is likely to announce a fine of more than 8 billion yuan ($1.1 billion) on its fintech affiliate, drawing a line under the probe into the firm founded by Jack Ma. Most Read from BloombergMeta’s Threads App Draws Millions Seeking a Twitter AlternativeUkraine Has Caught Up With Russia’s Tank Numbers, Data SignalStocks Stumble as Traders Turn to Payroll Data: Markets WrapBide...
Hong Kong Charlotte Yang Bloomberg Businessweek Jack Ma Zheng Li Edwin Chan
Source: yahoo.com

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Son Ends Seven-Month Silence to Make Case for SoftBank's Future

(Bloomberg) -- SoftBank Group Corp. is in position to win the race to master AI, thanks to its billions of dollars of tech investments, founder Masayoshi Son said in his first public appearance in seven months.Most Read from BloombergHedging Failure Exposes Private Equity to Interest-Rate SurgeThese Are World’s Most Expensive Cities for High-Class LivingAlibaba Names Tsai Chairman, Wu CEO in Surprise Shake-UpForty Hours of Oxygen Left for Titanic Vessel That’s MissingSingapore&#x20...
Openai Sam Altman Richard Kaye Bloomberg Businessweek Edwin Chan Kirk Boodry Amir Anvarzadeh
Source: yahoo.com

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