ByteDance and Alibaba are in discussions with Nvidia about buying its powerful H200 AI chip, reports Reuters. This is according to anonymous sources and comes just after US President Donald Trump said he would allow their export to China. The Chinese companies are keen to place large orders for Nvidia’s second most powerful artificial intelligence chip, […]
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IMF raises China growth forecast
The International Monetary Fund said China’s economy is on track to grow faster than previously expected in 2025 and 2026, reports Caixin. But it warned that the country must confront structural challenges ranging from weak consumption to a protracted property slump. The IMF delivered the assessment at a press briefing in Beijing after completing its […]
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Chinese chipmaker sues Pentagon
Chinese memory-chip maker Yangtze Memory Technologies has sued the US Department of Defense, reports Caixin. The company is seeking removal from the Pentagon’s Chinese military company (CMC) list after being designated twice without notice or a chance to respond. According to the complaint filed on Dec 5, the Defense Department first added Yangtze Memory to the CMC […]
US pharmaceutical company Pfizer has agreed to pay up to $2.1 billion to Shanghai-based Fosun Pharma’s unit Yao Pharma for an experimental oral obesity drug, reports the South China Morning Post. The move is part of a growing trend of Chinese drug makers selling early-stage assets to global multinationals. Under the licensing agreement, Yao Pharma would grant […]
Alibaba named its cloud unit’s technology officer Zhou Jingren, who also leads its AI lab Tongyi and the development of its Qwen AI models, as a new member of the group in charge of steering the business empire, reports the South China Morning Post. Zhou is a renowned scientist in cloud computing and has served at Alibaba […]