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Taiwan's Chip and AI Funding at Risk Amidst Spending Cuts

Taiwan's Ministry of Science and Technology (MOST) has warned that funding for crucial sectors like semiconductors, artificial intelligence (AI), and aerospace could be slashed by T$20 billion (approximately $609 million) next year, as reported by Reuters. This comes after Taiwan's opposition parties, holding a parliamentary

AI Power Needs Threatening US Homes With 'Bad Harmonics': Bloomberg

The rapid proliferation of AI data centers across the US is not only straining the power grid but also introducing a hidden threat to millions of American households: distorted electricity, according to a report published by Bloomberg. This issue, known as "bad harmonics," can damage home appliances and

Trump Intervenes in TikTok Ban Battle, Urging Supreme Court Pause

President-elect Donald Trump has thrown his weight behind TikTok in its fight against a US ban, according to Bloomberg, joining the company in its challenge to a law that would force the divestiture of its US operations. The law, set to take effect on January 19, would force TikTok'

Russian Court Fines TikTok for Legal Violations

A Russian court has fined TikTok three million rubles (approximately $28,900) for violating Russian legal restrictions on information dissemination, as reported by Reuters. The Moscow courts' press service confirmed the fine on Tuesday, but did not specify the nature of TikTok's violations. The court's

OpenAI Restructures to Fuel AI Race, But Profit Motive Raises Concerns

OpenAI, the maker of ChatGPT, is revamping its corporate structure, shifting its for-profit arm to a public benefit corporation (PBC) designed to prioritize societal interests alongside shareholder value, reports Reuters. This move, confirmed Friday in a blog post, follows news reports in September that sparked debate among corporate watchdogs and

Li Auto Aims to Transform into AI Powerhouse, Rivaling Tesla in Robotics

Chinese electric vehicle (EV) maker Li Auto, a major competitor to Tesla in China, is pivoting towards artificial intelligence (AI) and robotics, according to a video message from its founder and CEO, Li Xiang, as reported by the South China Morning Post. "AI means everything for Li Auto'

China's LCD Pioneer Doubles Down on Chips with Eswin IPO

Chinese semiconductor supplier Eswin Technology Group is preparing to list its silicon wafer unit on the Shanghai Stock Exchange, marking a significant expansion for Chairman Wang Dongsheng, known as the father of China's liquid crystal display industry, as reported by Nikkei Asia. The Shanghai Stock Exchange's

Alibaba and E-Mart Team Up for $4 Billion Korean E-Commerce Joint Venture

Alibaba Group Holding Ltd. is merging its South Korean operations with E-Mart Inc.'s e-commerce platform in a joint venture valued at approximately $4 billion, according to a stock exchange filing by E-Mart and a report by Bloomberg. The 50-50 joint venture, combining AliExpress International and Gmarket, aims to

Lyft Sues San Francisco, Claiming $100 Million Tax Overcharge

Ride-hailing giant Lyft has filed a lawsuit against San Francisco, alleging the city overcharged the company $100 million in taxes over a five-year period. The suit, filed in California Superior Court, claims San Francisco mischaracterized driver compensation as company revenue when calculating tax obligations. Lyft argues that San Francisco'

Taiwan Blocks Uber's $950 Million Foodpanda Acquisition

Uber Technologies Inc.'s plan to acquire Delivery Hero SE's Foodpanda business in Taiwan for $950 million has been blocked by Taiwan's Fair Trade Commission (FTC), reports Bloomberg. The FTC, citing concerns about reduced competition in the food delivery market, rejected the deal on Wednesday.