China’s government is increasing pressure on domestic artificial intelligence (AI) companies to not buy AI chips from Nvidia, the U.S. company that produces most of the world’s state-of-the-art AI processors.
Author: admin (Kendrick Williams)
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GERMAN BUSINESSES ARE THEIR MOST OPTIMISTIC IN MORE THAN A YEAR
Morale among German businesses rose this month to its highest since May 2024, according to the private Ifo Institute’s business climate index.
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U.K. INFLATION REACHES 18-MONTH HIGH IN JULY
Britain’s headline inflation accelerated to 3.8 percent in July, with inflation in services jumping 5 percent, giving the U.K. the highest inflation rate among the world’s richest countries.
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MORE CONSUMERS EAT IN, BOOSTING BUSINESS FOR SUPERMARKETS
Consumers in the U.S. and Europe are increasingly strapped for cash and are cutting back their visits to restaurants, which is likely to improve supermarkets’ bottom lines, Reuters said.
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PRIVATE EQUITY FIRMS BATTLE FOR INVESTORS’ MONEY
Facing a drought of new investment, private equity (PE) firms are offering discounted management fees and “early bird” discounts for investors who jump in now, the Financial Times reported.
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CANADA LIFTS MOST RETALIATORY TARIFFS AGAINST THE U.S.
On 22 August, Canada lifted about half of the retaliatory tariffs it had imposed on U.S. imports after Donald Trump laid a 25-percent levy on Canadian steel and aluminum.
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EUROZONE ECONOMY STRENGTHENED IN JULY
The Eurozone’s economy gained strength for the eighth consecutive month in July, according to the Hamburg Commercial Bank’s purchasing managers index (PMI).
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COMPANIES GRAPPLE WITH “THE AI PARADOX”
Business services firm McKinsey & Co. calls it “the generative AI paradox:” eight in 10 of its client companies say they have deployed AI in their operations, but the same proportion—aside from tech companies providing the equipment—say they have seen no bottom-line impact.
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AI INFRASTRUCTURE ITEMS OUTSELL CONSUMER PRODUCTS AT FOXCONN
In this year’s second quarter, Foxconn—the world’s largest electronics assembler—made more items for building cloud and AI infrastructure than consumer electronics.
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DEEPSEEK IS UNABLE TO TRAIN ITS NEXT MODEL ON CHINESE CHIPS
DeepSeek, the Chinese AI developer that stunned the world in January with its world-class large language model made on the cheap, has been forced to delay the release of its R2 reasoning AI.