Latest news with #Nvidia Corp
Yahoo
2 days ago
- Business
- Yahoo
China Premier Warns of AI ‘Monopoly' as US Effort Quickens
(Bloomberg) — China will spearhead the creation of an international organization to jointly develop AI, the country's premier said, seeking to ensure that world-changing technology doesn't become the province of just a few nations or companies. Trump Awards $1.26 Billion Contract to Build Biggest Immigrant Detention Center in US The High Costs of Trump's 'Big Beautiful' New Car Loan Deduction Can This Bridge Ease the Troubled US-Canadian Relationship? Trump Administration Sues NYC Over Sanctuary City Policy Artificial intelligence harbors risks from widespread job losses to economic upheaval that require nations to work together to address, Premier Li Qiang told the World Artificial Intelligence Conference in Shanghai on Saturday. That means more international exchanges, Beijing's No. 2 official said during China's most important annual technology summit. Li didn't name any countries in his short address to kick off the event. But Chinese executives and officials have taken aim at Washington's efforts to curtail the Asian country's tech sector, including by slapping restrictions on the export of Nvidia Corp. chips crucial to AI development. On Saturday, Li acknowledged a shortage of semiconductors was a major bottleneck, but reaffirmed President Xi Jinping's call to establish policies to propel Beijing's ambitions. The government will now help create a body — loosely translated as the World AI Cooperation Organization — through which countries can share insights and talent. 'Currently, key resources and capabilities are concentrated in a few countries and a few enterprises. If we engage in technological monopoly, controls and restrictions, AI will become an exclusive game for a small number of countries and enterprises,' Li told hundreds of delegates huddled at the conference venue on the banks of Shanghai's iconic Huangpu river. China and the US are locked in a race to develop a technology with the potential to turbocharge economies and — over the long run — tip the balance of geopolitical power. This week, US President Donald Trump signed executive orders to loosen regulations and expand energy supplies for data centers — a call to arms to ensure companies like OpenAI and Google help safeguard America's lead in the post-ChatGPT era. At the same time, the breakout success of DeepSeek has inspired Chinese tech leaders and startups to accelerate research and roll out products such as open-sourced models, robots and AI agents. That parade of technology represents Chinese developers' efforts to set world standards and benchmarks, and grab a bigger slice of the global market. They also dovetail with Beijing's broader efforts to ensure self-reliance on critical technologies in the face of tensions between the world's economic superpowers. The weekend conference in Shanghai — gathering star founders, Beijing officials and deep-pocketed financiers by the thousands — is designed to catalyze that movement. The event, which has featured Elon Musk and Jack Ma in years past, was launched in 2018 to showcase China's cutting-edge technology. This year's attendance may hit a record because it's taking place at a critical juncture in the global race to lead the development of generative AI. It's already drawn some notable figures: Nobel Prize laureate Geoffrey Hinton and former Google chief Eric Schmidt were among industry heavyweights who met Shanghai party boss Chen Jining on Thursday, before they were due to speak at the conference. Going forward, China will seek to propel AI development in the Global South, Li said, referring to a loose gathering that includes Brazil and Africa. Schmidt later echoed Li's call for nations to work together — particularly China and the US. 'The upsides are phenomenal,' he told delegates. 'As the largest and most significant economic entities in the world, the United States and China should collaborate on these issues,' he said. 'We have a vested interest to keep the world stable, keep the world not at war, to keep things peaceful, to make sure we have human control of these tools.' —With assistance from Jing Li and Charlie Zhu. (Updates with Schmidt's comments from the 11th paragraph.) Burning Man Is Burning Through Cash Confessions of a Laptop Farmer: How an American Helped North Korea's Wild Remote Worker Scheme It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Elon Musk's Empire Is Creaking Under the Strain of Elon Musk A Rebel Army Is Building a Rare-Earth Empire on China's Border ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
18-07-2025
- Business
- Yahoo
VNET (VNET) Surges 14% on Rating Upgrade, Improving US-China Relations
We recently published . VNET Group, Inc. (NASDAQ:VNET) is one of Tuesday's top performers. VNET Group soared by 14.14 percent on Tuesday to end at $9.04 apiece as investors took heart from an investment firm's rating upgrade for its stock, coupled with expectations of improving global trade. According to the US government, it officially authorized chip giant Nvidia Corp. to resume selling its H20 chips to China, a move that not only sparked optimism for the overall technology industry but also boosted hopes for improving trade relations between the world's two largest economies. For its part, VNET Group, Inc. (NASDAQ:VNET)—an internet and data center provider in China—is set to benefit from the continued Artificial Intelligence growth in China, supported by the resumption of sales of highly anticipated H20 chips. A close up image of a application hosting server with the company's branding on it. In other news, Wall Street Zen over the weekend raised its rating for VNET Group, Inc. (NASDAQ:VNET) to 'hold' from 'sell' previously. Based on its historical earnings reporting dates, VNET Group, Inc. (NASDAQ:VNET) will announce the results of its second quarter earnings performance in the last week of August 2025. While we acknowledge the potential of VNET as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
16-07-2025
- Business
- Bloomberg
ASML CFO Says Easing China AI Chip Controls Would Boost Demand
ASML Holding NV Chief Financial Officer Roger Dassen said on an earnings call Wednesday it will be 'positive for chip demand' if Washington lifts restrictions on some artificial intelligence processors. This week Nvidia Corp. said it received assurances that the US government will allow the export of some chips to the Asian nation that had previously been blocked. Advanced Micro Devices Inc., Nvidia's chief rival, followed with a similar announcement.
