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China's Chip Funding Dives as US Tech War Bites

China's semiconductor industry experienced a sharp decline in funding during the first eleven months of 2024, with investment deals and funding amounts falling by more than a third compared to the previous year, as reported by the South China Morning Post. The decline is attributed to US restrictions

Lockheed Martin Forms New Subsidiary to Boost AI Adoption in Defense

Lockheed Martin, the world's largest defense contractor, has established a new subsidiary to accelerate the adoption of artificial intelligence (AI) within the US defense sector, reports Reuters. The move comes as companies across industries increasingly leverage AI for operational optimization, while defense companies have remained cautious due to

NXP Partners with South Korean Startup Bitsensing in Automotive Radar Deal

Dutch chipmaker NXP has teamed up with South Korean startup bitsensing to sell radar systems for use in automobiles, reports Reuters. The agreement will see NXP's radar chips integrated with bitsensing's radar hardware and software, according to an email from bitsensing CEO Jae-Eun Lee to Reuters.

Arm vs. Qualcomm Trial Begins in Major Chip Dispute

The legal battle between chip technology giant Arm and Qualcomm, a major customer and leading mobile processor designer, is set to begin Monday in a Delaware courtroom, reports Reuters. This trial could have significant ramifications for the burgeoning artificial intelligence (AI) PC market. The more than two-year dispute centers around

Takealot Bets on Townships to Combat Global E-Commerce Competition

South Africa's dominant e-commerce retailer, Takealot, is employing a personal shopper strategy to expand into townships and rural areas, aiming to counter growing competition from international rivals, reports Reuters. The move comes as global companies like Amazon, Temu, and Shein have entered South Africa's price-sensitive e-commerce

Robots and AI Drones to Drive Tech Innovation, Says TSMC Chairman

Taiwan Semiconductor Manufacturing Co. (TSMC) Chairman and CEO C.C. Wei has highlighted advanced robots and AI-powered drones as key drivers of future technological innovation, reports Nikkei Asia. Speaking at Taiwan's National Science and Technology Conference on Monday, Wei emphasized the growing need for integrated hardware and software

Tesla Faces $100 Billion Tax Bill in Musk Pay Package Battle

Tesla is facing a potential tax and accounting nightmare in its ongoing legal battle to reinstate Elon Musk's massive compensation package, reports the Financial Times. The company and its CEO could face over $100 billion in tax and accounting charges if the electric vehicle maker fails to successfully

Revolut Staff and Early Investors Cash In $1 Billion After Banking License Approval

Revolut staff and early investors have sold nearly $1 billion worth of stock since August, following the fintech company's long-awaited UK banking license, as reported by the Financial Times. This secondary share sale, which initially allowed only current employees to sell, has been extended twice to enable early

Musk's xAI Makes Grok-2 Chatbot Free for All X Users

Elon Musk's artificial intelligence startup, xAI, has announced that its new version of the Grok-2 chatbot will be available for free to all users of the social media platform X, reports Reuters. "As always, Premium and Premium+ users get higher usage limits and will be the first

Japan's Unicorn Growth Stalls Despite Record Number of Potential Startups

Japan's pool of potential unicorns, startups valued at $1 billion or more, reached a record high of 14 in 2024, according to a new survey by Nikkei, but the growth of these companies remains sluggish. The annual survey, now in its eighth year and conducted in partnership with