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Google in talks with Samsung to make part of next-gen chip, The Information reports
Reuters63d agoneutral
Google in talks with Samsung to make part of next-gen chip, The Information reports

Alphabet's Google is in talks with Samsung Electronics to manufacture part of its ‌next-generation chip, The Information reported on Thursday, citing ‌two people familiar with the matter. Google plans for Taiwan's TSMC to ​make the main part of the chip, codenamed 'Icefish,' while Samsung may produce a separate component that helps connect it to memory using its 2-nanometer production technology, the report ‌said. The chip industry has ⁠been grappling with a capacity crunch, as TSMC, the world's largest contract chipmaker, works ⁠to keep up with surging demand and avoid becoming a bottleneck in the global supply chain amid the AI ​boom.

Samsung Elec invests $175 million to become top shareholder in US genetics firm
Reuters64d agoneutral
Samsung Elec invests $175 million to become top shareholder in US genetics firm

Privately held Element Biosciences said on Tuesday it had raised funds, including $175 million from longtime investor Samsung Electronics, to ‌expand commercialisation of its genetic testing and research products. The San Diego-based ‌company did not disclose the total size of the upsized Series E funding round, or its ​valuation. Samsung said in a statement that the investment would make it the largest shareholder in Element and deepen strategic cooperation between the two firms.

Samsung Elec considers building chip packaging plant, Economic Daily says
Reuters65d agoneutral
Samsung Elec considers building chip packaging plant, Economic Daily says

Samsung Electronics is considering the construction of an advanced semiconductor packaging facility in the southwestern South Korean city of ‌Gwangju, the Korea Economic Daily said on Tuesday. • ‌Samsung is expected to unveil the investment plan at a meeting between South Korean President Lee ​Jae Myung and the heads of the country's largest conglomerates on June 29, the newspaper reported, citing unnamed industry sources. • The meeting, to be held at the presidential office under the theme of a "major shift in growth strategy," is expected to include ‌Samsung Electronics Chairman Jay ⁠Y. Lee and SK Group Chairman Chey Tae-won.

Korean Stocks Jump 8% as Chip Shares Rebound After AI Selloff
Bloomberg65d agoneutral
Korean Stocks Jump 8% as Chip Shares Rebound After AI Selloff

(Bloomberg) -- Memory chipmaker shares led a rebound in South Korean stocks, demonstrating investors aren’t quite ready to throw in the towel on the artificial intelligence boom. Most Read from BloombergHouse Republican Says Hegseth’s D-Day Remarks ‘Inappropriate’LA Mayor Race Flips as Socialist Beats Reality TV Star PrattTrump’s $100,000 H-1B Visa Application Fee Rejected by JudgeTrump Says He, Not Congress, Is in Charge of Kennedy Center in ReversalChip Stocks Rally in AI Trade Revival After P

Bloomberg65d agoneutral
Pentagon Accuses Alibaba, Baidu of Aiding China’s Military

(Bloomberg) -- The Pentagon accused some of China’s biggest companies, including Alibaba Group Holding Ltd., Baidu Inc. and BYD Co. of supporting the Chinese military, doubling down on an earlier decision to label crown jewels of the country’s corporate world as threats to US national security.Most Read from BloombergHouse Republican Says Hegseth’s D-Day Remarks ‘Inappropriate’LA Mayor Race Flips as Socialist Beats Reality TV Star PrattTrump Says He, Not Congress, Is in Charge of Kennedy Center

Samsung Elec's chip chief says he discussed next-generation foundry with Nvidia CEO
Reuters66d agoneutral
Samsung Elec's chip chief says he discussed next-generation foundry with Nvidia CEO

Samsung Electronics' co-CEO and head of ‌its chip division, Jun Young-hyun, ‌said on Monday he discussed cooperation ​in next-generation foundry chips with Nvidia CEO Jensen Huang during a meeting in Seoul. Jun said Samsung and ‌Nvidia are ⁠currently collaborating on autonomous driving chips and Groq AI ⁠accelerator chips, and also discussed cooperation on future generations of ​semiconductor products. ​He added ​that the two ‌companies had extensive discussions on long-term cooperation, including in high-bandwidth memory (HBM) 4E and HBM5 chips.

Korean Leveraged ETF Misfires, Jumps 50% Even as SK Hynix Slumps
Bloomberg66d agoneutral
Korean Leveraged ETF Misfires, Jumps 50% Even as SK Hynix Slumps

(Bloomberg) -- A leveraged exchange-traded fund tied to SK Hynix Inc. surged 50% on Monday despite a drop of nearly 8% in the underlying stock, a dislocation the fund house later attributed to a lack of liquidity in its market-making system.Most Read from BloombergHouse Republican Says Hegseth’s D-Day Remarks ‘Inappropriate’Trump Says He, Not Congress, Is in Charge of Kennedy Center in ReversalWhy Oil’s Not at $200 After the Biggest Supply Shock in HistoryIsrael Strikes Iran After Missile Attack

AI Trade Unwind Rocks Korean Traders Leveraged for One-Way Bet
Bloomberg66d agoneutral
AI Trade Unwind Rocks Korean Traders Leveraged for One-Way Bet

(Bloomberg) -- Fear was already running high ahead of South Korea’s Monday open, but the ferocity of the selloff still caught some investors off guard.Most Read from BloombergHouse Republican Says Hegseth’s D-Day Remarks ‘Inappropriate’Trump Says He, Not Congress, Is in Charge of Kennedy Center in ReversalWhy Oil’s Not at $200 After the Biggest Supply Shock in HistoryIsrael Strikes Iran After Missile Attack, Imperiling Trump TalksAI Trade Unwind Rocks Korean Traders Leveraged for One-Way BetWith

'Odd Lots' Meets 'The China Show': Stock Rout Hits Asia
Bloomberg66d agoneutralVIDEO
'Odd Lots' Meets 'The China Show': Stock Rout Hits Asia

Asian stocks dropped Monday as AI-related shares sold off after a blistering rally, led by losses in Korean chipmakers SK Hynix and Samsung. Joe Weisenthal and Tracy Alloway from Bloomberg's Odd Lots podcast join Yvonne Man and Stephen Engle on The China Show.

Nvidia CEO Says Selloff in Tech Stocks Is a Buying Opportunity
Bloomberg66d agoneutral
Nvidia CEO Says Selloff in Tech Stocks Is a Buying Opportunity

(Bloomberg) -- Nvidia Corp. Chief Executive Officer Jensen Huang called a global tech stocks selloff that began last week a buying opportunity, saying the buildout of artificial intelligence has just begun. Most Read from BloombergHouse Republican Says Hegseth’s D-Day Remarks ‘Inappropriate’Trump Says He, Not Congress, Is in Charge of Kennedy Center in ReversalWhy Oil’s Not at $200 After the Biggest Supply Shock in HistoryIsrael Strikes Iran After Missile Attack, Imperiling Trump TalksKorean Sto

Jensen Huang Commands Seoul Stage With Night of Street Theatre
Bloomberg68d agoneutral
Jensen Huang Commands Seoul Stage With Night of Street Theatre

(Bloomberg) -- For one Friday night, Hongdae wasn’t Seoul’s trendiest neighborhood. It was Jensen Huang’s stage.Most Read from BloombergBecerra Advances for California Governor as Hilton Fights SteyerNasdaq 100 Sinks 5% in AI-Led Rout as Yields Climb: Markets WrapSpaceX, Other Mega IPOs Denied Fast Index Entry by S&PSpaceX Inks $30 Billion Computing Power Deal With GoogleTrump Says He, Not Congress, Is in Charge of Kennedy Center in ReversalThe Nvidia Corp. chief executive landed in Seoul and pr

Financial Services Roundup: Market Talk
The Wall Street Journal68d agoneutral
Financial Services Roundup: Market Talk

Find insight on the won, Bank of China, Commerzbank, Reserve Bank of India and more in the latest Market Talks covering Financial Services.

Nvidia Clears Memory’s Big Three for Vera Rubin HBM4 Supply
Bloomberg69d agoneutral
Nvidia Clears Memory’s Big Three for Vera Rubin HBM4 Supply

(Bloomberg) -- Nvidia Corp. has certified the three biggest memory chipmakers to supply their most advanced high-bandwidth products for the US company’s AI accelerators, Chief Executive Officer Jensen Huang confirmed for the first time.Most Read from BloombergSpaceX, Other Mega IPOs Denied Fast Index Entry by S&PSaylor’s Bitcoin Machine Is Misfiring on Every CylinderGlazer Family Members Study Manchester United Stake Sale‘Sell Indonesia’ Sweeps Trading Desks as Prabowo Tightens GripRepublican-Le

Nvidia CEO sees robotics as next major sector in South Korea
Reuters69d agoneutral
Nvidia CEO sees robotics as next major sector in South Korea

Nvidia CEO Jensen Huang said on Friday that ‌he sees robotics as the next ‌major sector in South Korea. He was talking to reporters ​after arriving at Gimpo airport in South Korea on a flight from Taiwan. Huang said he had meetings scheduled ⁠with Hyundai, LG, SK, Samsung and Naver during his trip.

Asian shares drop, with South Korea's Kospi down more than 5%
Associated Press69d agoneutral
Asian shares drop, with South Korea's Kospi down more than 5%

Shares have fallen in Asia, with South Korea’s benchmark dropping more than 5%, after sharp declines for some big artificial intelligence-related stocks in the U.S. On Wall Street on Thursday, computer chipmaker Broadcom’s shares sank 12.6% when it gave a forecast that fell short of investors’ expectations, raising concerns over the wider AI and technology sector. U.S. memory chip maker Micron Technology dropped 7.7%, and cybersecurity company CrowdStrike Holdings fell 3.8%.

Exclusive-South Korea labour minister calls on tech firms to share excess AI profits with suppliers, staff
Reuters69d agoneutral
Exclusive-South Korea labour minister calls on tech firms to share excess AI profits with suppliers, staff

South Korea's labour minister called on the country's major tech firms to share the spoils of their massive windfall profits, warning that unprecedented chip-sector gains stemming from the AI boom risked widening a gap in inequality. In an interview, Kim Young-hoon told Reuters that companies like Samsung Electronics that outperform ‌profit targets should consider sharing excess gains with suppliers, subcontractors and their workers, after deducting taxes, given their contributions to corporate growth. The South Korean government, businesses, unions and suppliers should engage ‌in a public dialogue on how to share such "excess profits" and narrow the gap between large conglomerates and smaller suppliers, he said.

Nvidia CEO mounts charm push in South Korea with TV talk show, baseball appearances
Reuters70d agoneutral
Nvidia CEO mounts charm push in South Korea with TV talk show, baseball appearances

When Nvidia CEO Jensen Huang makes his second visit to South Korea in just seven months this week, it won't be only to meet top memory chip and robotics executives, but ‌to throw the first pitch at a baseball game and appear on a TV talk show. Samsung Electronics and SK Hynix between them make about 70% of the ​memory needed for AI chips like Nvidia's. And the country's strength in manufacturing and robotics sets it up to be a key player in physical AI, where AI is embedded in robots, cars and factories. "Nvidia's dependence on South Korean suppliers is rising," Jeff Kim, an analyst at Seoul-based KB Securities, wrote in a research note.

AI demand, earnings optimism lift tech giants' market value in May
Reuters72d agoneutral
AI demand, earnings optimism lift tech giants' market value in May

The world's most valuable technology companies with the exception of Alphabet added billions ‌of dollars in market value in May, ‌as upbeat earnings outlooks and strong demand for AI chips fuelled ​a rally in their shares. Apple, memory chipmakers Micron Technology, Samsung Electronics and SK Hynix led the gains, adding $598 billion, $512 billion, $481 billion and $377 billion, respectively, in market value. Their ‌valuations rose to $4.58 ⁠trillion, $1.09 trillion, $1.10 trillion and $1.34 trillion, respectively.