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News and Articles

Weekly News (Week 43)

US Restrictions Fueled China's AI Innovation Leap

Chinese AI firm DeepSeek has demonstrated remarkable progress with its DeepSeek-V3 and R1 models, achieving performance comparable to US counterparts at a fraction of the cost. The company’s efficient approach, driven by US export restrictions on advanced AI chips, has earned it the nickname “Pinduoduo of AI.” Using less advanced Nvidia H800 GPUs, DeepSeek completed model training in two months for just $5.5 million, showcasing how software innovation can overcome hardware limitations. This success, along with advancements from other Chinese tech giants, suggests that US sanctions may be inadvertently accelerating China’s AI development by forcing its private sector to become more resourceful and self-reliant.

Shanghai Battles Consumer Slump with New Voucher Plan

Shanghai is set to issue a fresh round of consumption vouchers to counter declining retail sales, which fell 3.1% in 2024—the second drop in over 40 years. Retail sales amounted to 1.79 trillion yuan (US$246 billion), with significant declines in household goods and catering services. The downturn reflects weakened consumer confidence amid economic uncertainty, prompting households to cut spending and increase savings. China’s household savings rate hit 55% in 2024, the highest since 1952. The city hopes the voucher initiative will stimulate spending and revive economic activity.

ByteDance Unveils AI Model to Compete with OpenAI

ByteDance has launched Doubao-1.5-pro, an upgraded AI model aimed at outperforming OpenAI’s o1 in handling complex tasks. The new model reportedly excels in AIME benchmark tests, measuring AI’s ability to process intricate instructions. ByteDance’s aggressive pricing strategy offers a significant cost advantage, with its high-end model priced at just 9 yuan per million tokens—far lower than OpenAI’s rates. The move intensifies competition in the AI space, with several Chinese firms unveiling their own advanced models to challenge industry leaders.

TikTok's 12-Hour Shutdown Drama: Trump's Bid to Save America's Favorite App

In a dramatic turn of events, TikTok briefly shut down in the US before returning within 12 hours, crediting President-elect Trump for its revival. The shutdown occurred due to a recently enacted ban, affecting its 170 million American users. Trump promised an executive order post-inauguration to delay the ban’s enforcement, suggesting a 50-50 joint venture between ByteDance and an American owner as a potential solution. While TikTok is temporarily back online, its long-term future remains uncertain, requiring either new legislation or a sale to an acceptable buyer.

Retro Biosciences' $1B Moonshot: AI-Powered Quest to Add a Decade to Human Life

Retro Biosciences, backed by OpenAI’s Sam Altman, is raising $1 billion to fund its ambitious mission of extending human lifespan by 10 years. The company, leveraging a custom AI model developed with OpenAI, plans to begin clinical trials this year, including an Alzheimer’s treatment in Australia. CEO Joe Betts-LaCroix aims to accelerate traditional drug development timelines, targeting their first drug release in the 2020s. The startup’s innovative approach includes cell therapies and a unique blood stem cell treatment that could effectively reset 80% of cells to “zero age.”

Netflix's Strategic Triumph: Record Subscriber Growth and Sports Gambit Pays Off

Netflix’s bold move into sports content has driven exceptional growth, with 18.9 million new subscribers in Q4 2023, pushing its total user base beyond 300 million. The streaming giant’s stock surged 13% to reach $988, potentially triggering a stock split. Key successes included the Jake Paul-Mike Tyson boxing match and NFL Christmas games featuring Beyoncé. While subscriber growth exceeded expectations, revenue gains were more modest at 16%. Netflix’s market value now outstrips combined valuations of Disney, Comcast, Paramount, and Warner Bros Discovery, with analysts raising price targets to $1,025 amid planned price hikes and promising content pipeline for 2024.

Google Bets Big on AI with $1B Investment in Anthropic

Google is investing over $1 billion in OpenAI rival Anthropic, increasing its total stake to around $3 billion as competition in generative AI heats up. Anthropic, known for its Claude AI models, is securing an additional $2 billion from venture firms, potentially tripling its valuation to $60 billion. The funding surge reflects growing confidence in AI’s potential, despite high development costs. With major backers like Amazon and Google, Anthropic aims to challenge industry leaders OpenAI and Microsoft.

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