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Ex-Twitch CEO Emmett Shear Launches AI Startup Backed by a16z

Emmett Shear, former CEO of Twitch, is venturing into the world of artificial intelligence with a new stealth startup called Stem AI, reports TechCrunch. Public documents reveal that the company was incorporated in June 2023 and filed for a trademark in August of the same year. Shear is listed as

ByteDance Slash Prices for Advanced AI Model in China's Brutal Price War

ByteDance, the parent company of TikTok, has intensified the Chinese generative artificial intelligence (GenAI) market rivalry by slashing the price of its new AI model with "visual understanding" capabilities, reports the South China Morning Post. The new model, part of the company's Doubao family, was introduced

Senators Urge Biden to Grant TikTok 90-Day Reprieve Amidst Looming Ban

Democratic Senator Ed Markey and Republican Senator Rand Paul have urged President Joe Biden to extend the January 19 deadline for ByteDance to sell TikTok's US assets, reports Reuters. The senators' request comes as the Supreme Court prepares to hear TikTok's legal challenge to the

US Probes Nvidia Over Chips in China, Amidst Smuggling Concerns

The US Department of Commerce is investigating how Nvidia, a leading chip manufacturer, has allowed its products to reach China over the past year, reports Reuters, citing The Information. The probe, reportedly triggered by concerns over potential violations of export controls, has prompted Nvidia to engage in spot checks of

Private Equity Firms Pledge China-Free Investments Amidst US Crackdown

More than two dozen private equity firms have pledged to avoid investments in entities based in China and Hong Kong, signaling a growing trend in the US to restrict capital flows to Chinese sectors deemed a national security risk, reports Nikkei Asia. The 33 signatories to the "Clean Capital

Tokyo Electron Shifts Focus to AI as China Slowdown Looms

Japanese chipmaking equipment manufacturer Tokyo Electron is pivoting toward artificial intelligence (AI) to offset a projected slowdown in its Chinese business, reports Nikkei Asia. The company aims to increase the AI sector's contribution to wafer fab equipment (WFE) sales to approximately 40% in the fiscal year ending March

Trump Meets with TikTok CEO Amidst Impending US Ban

President-elect Donald Trump met with TikTok CEO Shou Chew at Mar-a-Lago on Monday, just weeks before the popular video app is set to be banned in the US over national security concerns, reports Bloomberg. The meeting comes just hours after Trump suggested he would try to reverse the ban, highlighting

ASML Enlists Former French Finance Minister Le Maire to Bolster European Chip Industry

Dutch semiconductor equipment giant ASML has appointed former French Finance Minister Bruno Le Maire as an advisor to its executive board, ASML spokesperson said Thursday. The move reflects ASML's commitment to strengthening Europe's broader semiconductor industry. "We believe that substantial investments in the European semiconductor

Ant Group Denies Imminent IPO Restart Despite Recent Speculation

Ant Group, the fintech affiliate of Alibaba, has poured cold water on speculation that it is preparing to relaunch its initial public offering (IPO), according to a statement released Thursday on its Weibo account. The company said it "currently has no plans to go public, and there are no

ASML, Dutch Tech Firms Pledge $230M for Eindhoven Infrastructure

A group of Dutch technology companies, including chip equipment maker ASML, will contribute approximately $230 million to a fund aimed at developing infrastructure in the Eindhoven region of the Netherlands, reports Reuters. This move aligns with "Operation Beethoven," a government initiative to invest €2.5 billion ($2.7