All articles tagged with #chinese tech
Chinese tech giants like Alibaba, Tencent, and Baidu are shifting towards developing and using domestically produced AI chips due to dwindling Nvidia stockpiles and US export restrictions, with efforts focused on creating self-sufficient semiconductor solutions to sustain AI development and reduce reliance on US technology.
Alibaba Group Holding Ltd. has issued $4.5 billion in convertible bonds, marking the largest dollar-denominated sale by an Asian company. The funds will be used for share buybacks and investments in core businesses, including artificial intelligence. The bonds, due 2031, were priced with a 0.5% coupon and a 30% conversion premium, and the deal was significantly oversubscribed. This move comes as Alibaba seeks to capitalize on favorable financing conditions and a rally in its shares, while also addressing market share losses in its core and cloud businesses.
Alibaba Group Holding Ltd. has issued a record $4.5 billion in convertible bonds to fund share buybacks and invest in areas like artificial intelligence. The bonds, due 2031, were priced with a 0.5% coupon and a 30% conversion premium, and were six times oversubscribed. This move allows Alibaba to take advantage of low financing costs and a rally in its shares, while signaling that the company views its stock as undervalued. The funds will also support Alibaba's core businesses and cloud services, which have faced market share losses due to regulatory crackdowns and internal challenges.
The founder of a Chinese tech company has been taken away by authorities for investigation, leading to speculation of a potential arrest.
Montana lawmakers are expected to vote on a bill that would ban TikTok from operating in the state, making it the first state to do so. The bill, which has backing from the state's GOP-controlled legislature, is more sweeping than bans in place in nearly half the states and the U.S. federal government that prohibit TikTok on government devices. TikTok, which is owned by the Chinese tech company ByteDance, has been under intense scrutiny over concerns it could hand over user data to the Chinese government or push pro-Beijing propaganda and misinformation on the forum.