Tech

Alibaba’s shares rose after reports of a deal with China Unicom to use its AI chips, boosting China’s domestic semiconductor efforts. China Unicom will deploy Alibaba’s Pingtouge AI accelerators for a large-scale data center project, also using chips from MetaX and Biren. This move aligns with China’s push for self-reliance amidst geopolitical tensions and export restrictions on advanced AI chips, particularly as Nvidia faces regulatory hurdles. Alibaba is developing new AI chips and operates a major cloud platform, further emphasizing its role in China’s AI landscape.

Amazon CEO Andy Jassy is aggressively combating internal bureaucracy to revitalize the company’s innovative spirit. Initiatives include mandating return-to-office, increasing worker-to-manager ratios, and establishing a “no bureaucracy” email for reporting cumbersome processes, resulting in modification of 455 processes. Jassy aims to operate Amazon as the “world’s largest startup,” fostering innovation and quick decision-making. This streamlining complements strategic investments in areas like AI amidst cost-cutting measures and workforce reductions implemented since Jassy took over in 2021.

Baidu’s Hong Kong shares surged following its intensified AI focus and strategic partnerships, including a collaboration with China Merchants Group. The company is leveraging its Ernie Bot and investing heavily in AI development, backed by a recent $56.2 million bond offering. This move aims to bolster Baidu’s competitive position in China’s burgeoning AI market, where rivals like Tencent are also actively investing. The initiatives reflect Baidu’s commitment to translating AI research into practical applications, particularly in industrial intelligence.

StubHub priced its IPO at $23.50 per share, valuing the company at approximately $8.6 billion. Shares will trade on the NYSE under the ticker “STUB” starting Wednesday. Founded in 2000 and reacquired by co-founder Eric Baker in 2020, StubHub’s IPO follows delays and market volatility. First-quarter revenue increased 10% year-over-year to $397.6 million, with a net loss of $35.9 million. The IPO’s performance will be a key indicator of investor confidence in the event ticket marketplace.

Microsoft is investing $30 billion in UK AI infrastructure, including a major supercomputer project with Nscale. This follows similar large investments from Nvidia, Google, OpenAI, and Salesforce, totaling over $40 billion for the UK AI sector. The investments reflect confidence in the UK’s AI potential, driven by talent, a shifting regulatory environment, and access to the European market. These moves coincide with increased UK-US collaboration on AI, quantum computing, and nuclear technologies.

President Trump extended ByteDance’s deadline to divest its U.S. TikTok operations to December 16th, marking the fourth extension. The deal, involving Oracle and Silver Lake, aims to address U.S. national security concerns. Treasury Secretary Bessent indicated a “framework deal” was reached, averting a potential TikTok ban. The proposed structure involves an investor consortium controlling 80% of TikTok’s U.S. business, possibly migrating users to a new application. Trump and Xi are scheduled to discuss the deal, emphasizing its high-level significance. Completion is anticipated within 30-45 days.

Cloud security firm Netskope is targeting a $7.3 billion valuation for its IPO, offering shares at $17-$19, up from an initial range. The company plans to list on Nasdaq as “NTSK.” This reflects renewed IPO market vigor in tech and cybersecurity following acquisitions like Google’s Wiz deal. Netskope, a CASB provider founded in 2012, competes with Palo Alto Networks, Cisco, and Broadcom. While showing strong growth prospects, it reported a $170 million net loss for the first half of the year.

Waymo is expanding its robotaxi service to San Francisco International Airport (SFO), with employee testing starting soon, followed by public access. This permit marks a significant expansion for Waymo in the Bay Area, where it already operates. The move aligns with Waymo’s strategy to integrate into transportation hubs, similar to initiatives in Phoenix and San Jose. This news arrives amid increasing competition in the autonomous vehicle sector, with Tesla also vying for access to Bay Area airports.

A framework agreement for TikTok, addressing data security concerns related to its Chinese parent company ByteDance, is nearing completion, potentially within 30-45 days. The restructuring will involve new investors alongside existing ByteDance stakeholders. Oracle’s cloud computing agreement with TikTok will remain intact, continuing its role in addressing U.S. security concerns through data management. Initial capital infusion is expected to be relatively small, focusing on restructuring rather than expansion, with no immediate plans for an IPO. The deal aims to alleviate national security and data privacy concerns.

YouTube announced it has paid over $100 billion to creators, artists, and media companies since 2021. This milestone coincides with its 20th anniversary and a 45% year-over-year increase in channels earning over $100,000 annually from TV viewership. YouTube is leveraging AI to enhance content creation, particularly within YouTube Shorts, offering tools for automated editing, music integration, and dialogue transformation. Google’s Veo 3 AI model will also integrate into Shorts, utilizing YouTube’s video library for training.