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Business Standard
a day ago
- Business
- Business Standard
China launches global AI body to rival US in $4.8 trillion tech race
While humanoid robots faced off in a boxing ring at China's flagship artificial intelligence conference in Shanghai, a fight in the US-China tech war was fought in suits nearby over who gets to set the rules in the AI age. China's answer is a new global organization to convene countries to foster safe and inclusive use of the powerful new technology. At the annual World AI Conference over the weekend, Chinese Premier Li Qiang warned of AI 'monopoly' and instead called on foreign officials in the room — mostly from developing countries — to cooperate on governance. The new group, known as the World AI Cooperation Organization, embodies China's plan to jostle with the US for sway by positioning itself as a champion of AI for all. More favorable rules may give a global boost to Chinese companies competing with US firms to sell hardware and services in a market estimated to hit $4.8 trillion by 2033. For many of the countries represented at the conference, Chinese firms already offer competitive solutions, even if the US dominates the supply of cutting-edge AI chips. 'The Chinese are coming to the table with a very different AI product mix that is going to be extremely appealing to lower-income countries that lack the computing and power infrastructure needed for large-scale implementation of OpenAI-like AI systems,' said Eric Olander of the China-Global South Project. Over 800 AI companies from more than 70 countries and regions attended the conference, according to the Chinese Ministry of Foreign Affairs. Using technology as both carrot and calling card, Beijing's approach appears to take a page out of its earlier Digital Silk Road initiative, which put Chinese companies at the center of telecommunications networks spanning continents. China for years has strived to define the global parameters for emerging technologies such as 5G, seeking to influence development and set the stage for its companies to win market share abroad. Huawei Technologies Co.'s prominent role in standard-setting groups became the subject of scrutiny of the US government when it cracked down on the use of its equipment. Global AI governance has emerged as a new battleground for the world's leading powers, both seeing the technology as critical not just for their economy but national security. President Donald Trump declared last week that his country will 'do whatever it takes' to lead in AI, with his plan for actions including countering Chinese influence in international governance bodies. While there are no binding global rules for AI development, China's action plan calls for building more digital infrastructure that uses clean power and unifying computing power standards. The country also said it supports the role of businesses in creating technical standards in security, industry and ethics. Details about the Chinese body, to be headquartered in Shanghai, are scarce. In brief public remarks before media were ushered out of the room, a Chinese Foreign Ministry senior official, Ma Zhaoxu, said the organization would work to establish standards and governance frameworks. China would discuss details with those countries that are willing to join, he added. As US and Chinese companies race to develop systems that could match or even surpassed human intelligence, safety concerns have also prompted calls for guardrails. AI pioneer Geoffrey Hinton, who spoke at the Chinese event, expressed support for international bodies to collaborate on safety issues. Part of Beijing's AI strategy appears to come from its diplomatic playbook, which urges support for Global South countries to step up in international affairs. In his address to kick off the Saturday event, Li emphasized helping those nations develop AI. These countries made up most of more than 30 nations that were invited to the high-level governance talks, including Ethiopia, Cuba, Bangladesh, Russia and Pakistan. A handful of European countries including the Netherlands, France and Germany, the EU and several international organizations were also represented. No nameplate for the US was seen by Bloomberg News. The US Embassy in Beijing declined to comment on any official presence. Achmad Adhitya, special adviser to Indonesia's vice president who attended the meeting, told Bloomberg News that China's initiative is 'very appreciated by the Indonesian government.' His country is preparing AI curricula to be rolled out across 400,000 schools and is training 60,000 teachers about the tech, he said. Beijing's emphasis on openness — a word used 15 times in its governance action plan — appears to ride on the success of Deepseek earlier this year. The AI upstart stunned the world not just by releasing AI models that are almost as capable as those of OpenAI but also made them freely available for anyone to download and customize for free. A succession of Chinese companies has done the same, with companies from incumbent giants like Alibaba and newcomers like Moonshot releasing cutting-edge large language models that are similarly open-weight. That accessibility may be especially important to developing countries who may not have the resources to gather vast datasets and train their own AI models from scratch, a process that would involve expensive chips made by companies such as Nvidia Corp. China also emphasizes internet sovereignty, something that may appeal to more autocratic regimes around the world. 'We should respect other countries' national sovereignty and strictly abide by their laws when providing them with AI products and services,' according to the country's Global AI Governance Initiative issued in 2023. In contrast, Trump's AI plan vows that the US government will only work with engineers who 'ensure that their systems are objective and free from top-down ideological bias.' The US-China rivalry presents a familiar dilemma for countries that may feel pressured to choose a side, but Solly Malatsi, minister of communications and digital technologies of South Africa, rejects the binary choice. 'It's not a case of one model over the other,' Malatsi said from the conference. 'It's about an integration of the best of both worlds.'
Yahoo
16-07-2025
- Business
- Yahoo
Trump Softens Tone on China to Secure Xi Summit and a Trade Deal
(Bloomberg) -- The Dutch Intersection Is Coming to Save Your Life Advocates Fear US Agents Are Using 'Wellness Checks' on Children as a Prelude to Arrests LA Homelessness Drops for Second Year Manhattan, Chicago Murder Rates Drop in 2025, Officials Say President Donald Trump has dialed down his confrontational tone with China in an effort to secure a summit with counterpart Xi Jinping and a trade deal with the world's second-largest economy, people familiar with internal deliberations said. Six months into his second term, Trump has softened his harsh campaign rhetoric that focused on the US's massive trade deficit with China and resulting job losses. The warmer posture contrasts with his threats against other trading partners to ravage their economies with crushing tariffs. Trump is now focused on cutting purchase deals with Beijing — similar to one he forged during his first term — and celebrating quick wins instead of addressing root causes of the trade imbalances. China posted a record trade surplus in the first half of the year amid booming exports. On Tuesday, the US president said he would be fighting China 'in a very friendly fashion.' In meetings with his staff, Trump is often the least hawkish voice in the room, some of the people said. Administration officials stressed that Trump has always liked Xi personally and pointed to moments in his first term when he nevertheless imposed sweeping restrictions on Huawei Technologies Co. and tariffs on the majority of Chinese exports. Trump's fluid playbook and his departure from promised hawkish policies have worried policymakers inside his administration as well as outside advisers, the people said. This week only exacerbated concerns that previous US red lines with China are now negotiable. Allowing Nvidia Corp. to sell its China-focused, less-advanced H20 chip once again — something multiple senior officials had said was not on the table — reversed the administration's own stated approach of keeping the most critical American technologies out of Beijing's hands. Treasury Secretary Scott Bessent last month cited H20 controls as evidence of the administration's toughness on China when pressed by senators who worried the US could trade advanced semiconductors for the Asian country's rare-earth minerals. While the US will still require approval for such exports — a restriction former President Joe Biden declined to impose — some Trump officials have privately objected to granting licenses they say will only embolden China's tech champions, the people said. Others have argued successfully that allowing Nvidia to compete with Huawei on its own turf is essential to winning the AI race with China. That view, championed by Nvidia Chief Executive Officer Jensen Huang, has gained traction inside the administration, people familiar with the matter said. 'Productive' Talks Trump has the final say in all trade decisions, an administration spokesman said. The president has 'consistently fought to level the playing field for American workers and industries, and the Administration continues to have productive discussions with all of our trading partners,' White House spokesman Kush Desai said. In a further effort to ease tensions, US officials are preparing to delay an Aug. 12 deadline when US tariffs on China are set to snap back to 145% after the expiration of a 90-day truce. Bessent signaled in a Bloomberg Television interview this week that the deadline was flexible. One person familiar with the plans said the tariff truce could be extended another three months. This comes as Trump is rolling out duties for other countries — including key allies — and threatening more actions on industries including pharmaceuticals and semiconductors. Last week, US Secretary of State Marco Rubio said a summit between Trump and Xi is likely. Rubio, once among the staunchest China hawks in the Senate, said he had a 'very constructive and positive' sit-down Friday with Chinese Foreign Minister Wang Yi. Some administration officials, meanwhile, are focused on getting China to agree to purchase some volume of to-be-determined US goods and services, people familiar with the matter said. That could satisfy Trump's concerns about the trade deficit but won't do much to close the yawning trade gap over the longer term. Trump's gentler handling of China is causing a rift among his advisers. Some members of his trade team want to hold a tough line against Beijing and have promised privately that export controls would never be part of trade discussions, people familiar with their deliberations said. Yet during last month's trade talks in London, Commerce Secretary Howard Lutnick openly said that recent export controls — officially justified on the basis of national security — were also designed to 'annoy' Beijing. And this week, he — along with Bessent and White House AI and Crypto Czar David Sacks — said plainly that allowing some less-advanced Nvidia chip sales to China is indeed part of ongoing trade negotiations. This development is raising questions about how far Trump would go in negotiating away national security actions if the Chinese demanded it. Some hawkish advisers fear that a further rollback of chip controls is now inevitable, people familiar with the matter said. Others have maintained that allowing sales of H20s — which are far less capable than Nvidia's best models — is a far cry from exporting that leading-edge hardware, which they say is not up for discussion. 'You want to sell the Chinese enough that their developers get addicted to the American technology stack,' Lutnick said Tuesday on CNBC. Closely watching the situation are allies and companies across Europe and Asia whose help the US wants to squeeze China's tech sector. Government and industry officials in those regions have gotten the message that Washington's strategy is subject to change, people familiar with the matter said. A half-dozen tech industry officials who've interacted with Trump's team on China said they often leave meetings wanting details only to see core goals evolve in later discussions. Surprise Reversals In many cases, those in charge of China tech policy have made decisions without involving offices that historically have played a role. Restrictions imposed in May on sales of chip design software to China — which have since been reversed — were part of a raft of Commerce Department measures that came as a surprise to many within the administration, Bloomberg has reported. The decision on H20 chips was also tightly held, people familiar with the matter said. Other actions that have been under consideration for months — including sanctions on Chinese chip giants and an effort to slap curbs on Chinese tech subsidiaries — have been delayed as officials pursue a trade deal. But Trump is also known for reversing course on China often and sometimes quickly after taking a position — as was the case when he fulfilled Xi's personal request to lift sanctions on Chinese telecom giant ZTE Corp. in 2018. He's also susceptible to criticism of his approach, which might indicate Trump could change his tone yet again. 'President Trump is set on a China deal, but it may be short-lived,' said Derek Scissors, a China expert at the American Enterprise Institute. 'The US trade deficit is well higher to date this year and the new budget will boost demand for imports in the fourth quarter. If a record 2025 trade deficit gets reported, all bets are off, including with China.' Beijing has made no secret it believes it has the upper hand. In London, US officials were taken aback by their Chinese counterparts' gloating over the position they find themselves in, people familiar with the exchange said. The Asian country's leverage stems from its grip on rare earth magnets and its ability to weaponize America's dependence on those supplies. China now requires companies to hand over sensitive data and reapply for rare-earth export licenses every six months. --With assistance from Jordan Fabian and Catherine Lucey. Forget DOGE. 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Mint
10-07-2025
- Business
- Mint
Nvidia's Jensen Huang Meets With Trump Ahead of CEO's China Trip
Nvidia Corp. Chief Executive Officer Jensen Huang is meeting with US President Donald Trump at the White House on Thursday, days before a planned trip to China by the head of the world's most valuable chipmaker, according to people familiar with the matter. Details of what the two men would discuss weren't immediately available, and the people familiar with the meeting declined to elaborate on the agenda. Spokespeople for the White House had no immediate comment. Nvidia declined to comment. Nvidia's CEO has been vocal about the need for US companies to access the world's largest semiconductor market and is a frequent visitor to China. He's returning to the country at a sensitive time for the company, which has become ensnared in a broader US-China tech conflict as the foremost producer of chips for AI development. Huang has called for easing US technology export curbs because they give Chinese rivals like Huawei Technologies Co. an unfair advantage. US restrictions have effectively locked Nvidia out of China, the largest market for chips, and as a result the company expects to lose out on $8 billion in sales this quarter alone. Huang's meeting with Trump also comes a day after Nvidia became the first company to surpass $4 trillion in market capitalization, with investors signaling continued enthusiasm for an artificial intelligence boom that has buoyed shares across the technology sector. Trump touted the company's soaring share price in a social-media post earlier Thursday, citing the boom in tech stocks as a reason for the Federal Reserve to cut interest rates. 'Tech Stocks, Industrial Stocks, & NASDAQ, HIT ALL-TIME, RECORD HIGHS! CRYPTO, 'Through the Roof.' NVIDIA IS UP 47% SINCE TRUMP TARIFFS. USA is taking in Hundreds of Billions of Dollars in Tariffs,' Trump wrote. Nvidia's chips are prized for their ability to power AI applications, with tech giants Microsoft Corp., Meta Platforms Inc., Inc. and Alphabet Inc. projected to put about $350 billion into capital expenditures in their upcoming fiscal years. Huang is scheduled to travel to Beijing where he'll meet with senior Chinese officials including the commerce minister, according to a person familiar with the situation. He'll also be taking part in the International Supply Chain Expo in Beijing next week, the person said, asking to remain anonymous to discuss a plan still in flux. With assistance from Hadriana Lowenkron and John Liu. This article was generated from an automated news agency feed without modifications to text.
Mint
02-07-2025
- Business
- Mint
Huawei Bid to Dismiss US Trade Sanction Case Rejected by Judge
Huawei Technologies Co. must face a criminal trial next year in New York after a federal judge refused a request by the Chinese wireless equipment maker to dismiss more than a dozen charges, including racketeering, trade secret theft and violating US sanctions on Iran. US District Judge Ann Donnelly on Tuesday rejected arguments by China's largest technology company that there wasn't enough evidence in the indictment to support 13 of the 16 charges. 'Dismissal of charges is an extraordinary remedy reserved for extremely limited circumstances implicating fundamental rights,' Donnelly wrote in a 52-page ruling. The Brooklyn judge called Huawei's challenge 'premature.' Huawei is accused of violating US sanctions against Iran and North Korea by misrepresenting to financial institutions that it conducted business in Iran in a way that didn't violate US law. Other charges include money laundering and obstruction of justice. The company has pleaded not guilty. Donnelly had previously set a trial date for May 4, 2026. David Bitkower and Douglas Axel, lawyers for Huawei, didn't immediately return emails seeking comment about the ruling. Huawei and the company's Chief Financial Officer Meng Wanzhou were first indicted in 2018 during the first Trump administration. Meng, who was arrested at Vancouver airport on the US charges in late 2018, reached a deal in 2021 to end the criminal case against her. Under the agreement, she admitted having misled HSBC Holdings Plc about the telecom company's business with Iran, in violation of US sanctions. The case is US v. Huawei, 18-cr-00457, US District Court for the Eastern District of New York This article was generated from an automated news agency feed without modifications to text.
Yahoo
25-06-2025
- Business
- Yahoo
China Vows ‘Forceful Measures' After Taiwan's Huawei Export Curb
(Bloomberg) — Beijing vowed to respond to Taiwan's 'technological blockades' after the self-ruled island blacklisted Chinese companies including Huawei Technologies Co., limiting their ability to develop cutting-edge artificial intelligence. Bezos Wedding Draws Protests, Soul-Searching Over Tourism in Venice US Renters Face Storm of Rising Costs US State Budget Wounds Intensify From Trump, DOGE Policy Shifts Commuters Are Caught in Johannesburg's Taxi Feuds as Transit Lags 'We will take forceful measures to resolutely safeguard the normal order of cross-strait economic and trade exchange,' Taiwan Affairs Office spokeswoman Zhu Fenglian said Wednesday at a regular briefing in Beijing. She was responding to a question about Taiwan' recent curbs on Chinese companies, and didn't elaborate on how Beijing would respond. Taiwan last week joined a yearslong US campaign to curtail China's technological ascent by adding the country's AI and chipmaking champions — Huawei and Semiconductor Manufacturing International Corp. — to its entity list. That bars the island's firms from doing business with the pair without a license, the first time Taipei has used the blacklist on major Chinese companies. The new restrictions are likely to, at least partially, cut off Huawei and SMIC's ( access to Taiwan's plant construction technologies, materials and equipment essential to build AI chips, like those made by Taiwan Semiconductor Manufacturing Co. (TSM) for the likes of Nvidia Corp. (NVDA). Zhu condemned Taiwan's decision as 'despicable' and claimed it displayed President Lai Ching-te's loyalty to the US government. President Donald Trump's administration has urged Taipei to take more ownership over chip restrictions on China, Bloomberg News previously reported. 'Attempts to decouple will not delay the progress of industrial upgrading on the mainland,' Zhu said, adding that such actions will only damage the competitiveness of Taiwanese enterprises and the island's economy. Inside Gap's Last-Ditch, Tariff-Addled Turnaround Push Luxury Counterfeiters Keep Outsmarting the Makers of $10,000 Handbags Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros Is Mark Cuban the Loudmouth Billionaire that Democrats Need for 2028? Can 'MAMUWT' Be to Musk What 'TACO' Is to Trump? ©2025 Bloomberg L.P. By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Sign in to access your portfolio
