News and Articles

Weekly News (Week 19)

Chinese AI Chip Firms Downgrade Designs to Bypass U.S. Sanctions

Chinese AI chip companies, are designing less powerful processors to maintain access to Taiwan Semiconductor Manufacturing Co (TSMC) amidst U.S. export controls. These sanctions, aimed at hindering China’s military AI advancements, restrict highly sophisticated processors and chip manufacturing equipment. The restrictions highlight China’s limited production capacity for advanced chips, and to counteract this, China is investing heavily in self-sufficiency, with state support for AI startups and substantial funding for the semiconductor industry.

ByteDance to Invest $2.13 Billion in Malaysia AI Hub

ByteDance, TikTok’s parent company, plans to invest approximately $2.13 billion to establish an AI hub in Malaysia. This initiative includes a 1.5 billion ringgit expansion of ByteDance’s data center facilities in Johor state. The investment aims to bolster Malaysia’s digital economy, targeting a growth to 22.6% of GDP by 2025. This move follows significant investments by other tech giants, with Google and Microsoft announcing $2 billion and $2.2 billion investments, respectively, for data centers and AI services in Malaysia.

Stanford Apologizes for Alleged AI Model Plagiarism from Chinese Scientists

Stanford University researchers apologized after accusations of plagiarizing Chinese scientists’ open-source work to create their AI model, Llama 3-V. The model, developed by Aksh Garg, Siddharth Sharma, and Mustafa Aljadery, drew global attention for its performance but faced scrutiny for similarities to MiniCPM-Llama3-V 2.5, developed by Tsinghua University and ModelBest. Garg and Sharma admitted oversight in verifying originality, leading to the model’s removal. The incident sparked debates on AI ethics and China’s advancements in the field.

Intel Unveils New AI Chips Aiming to Reclaim the Markets

Intel announced its new Xeon 6 processor, designed for enhanced performance and power efficiency in data centers. This move follows the launch of new AI chips by rivals Nvidia and AMD, marking Intel’s bid to reclaim leadership in the booming AI industry. Additionally, Intel introduced lower-priced Gaudi 2 and Gaudi 3 AI accelerators and shared details of its upcoming Lunar Lake processors aimed at AI PCs. Despite past struggles in chip manufacturing, Intel seeks to leverage nearly $20 billion in U.S. funding to advance its semiconductor capabilities.

Nvidia Surpasses Apple in Market Value, Reaches $3 Trillion

Nvidia’s shares soared to record highs, hitting a $3 trillion market valuation and surpassing Apple to become the world’s second most valuable company. Nvidia’s stock rose 5.16% to $1,224.40, while Apple’s climbed 0.78% to a $3 trillion market cap. Nvidia’s surge is driven by strong demand for its AI chips, with major tech companies like Microsoft, Meta, and Google vying for AI dominance. The stock’s appeal is expected to grow with a 10-for-one split effective June 7. Meanwhile, Microsoft remains the most valuable company at $3.14 trillion.

Volvo Shifts EV Production to Belgium Amid EU's Potential Tariffs on Chinese Imports

Volvo Cars, majority-owned by China’s Geely, is relocating production of its electric vehicles (EVs) from China to Belgium, anticipating EU tariffs on Beijing-subsidized imports, according to the Times. The shift includes the EX30 and EX90 models, reducing the need to halt Chinese-built EV sales in Europe. EU-China relations remain tense due to geopolitical issues and the EU’s efforts to reduce dependency on China for green transition materials.

IKEA Offers Paid Remote Jobs in Virtual Roblox Store

IKEA is hiring 10 real-life staff to work in its new Roblox virtual store, “The Co-Worker Game,” opening June 24. This initiative marks IKEA’s entry into mainstream gaming, offering a unique remote work opportunity. Successful candidates, aged 18+ from the UK or Ireland, will earn £13.15 ($16.82) per hour, similar to London-based IKEA employees. Workers will assist in the virtual store, helping customers and serving digital meatballs. This move follows other brands like Walmart entering the virtual space.

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