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☆ Alibaba upgrades AI model Tongyi Qianwen, releases industry-specific models
▼ + stars: | 2023-10-31 | by ( Josh Ye | ) www.reuters.com time to read: +2 min

The Alibaba Cloud logo is displayed near a screen showing the website of its Tongyi Qianwen AI chatbot, in this illustration picture taken June 28, 2023. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsHONG KONG, Oct 31 (Reuters) - Chinese technology giant Alibaba (9988.HK) said on Tuesday it has updated its artificial intelligence (AI) model Tongyi Qianwen and released a suite of industry-specific AI models amid an intensifying AI race among tech companies. It also said it has launched eight AI models for the entertainment, finance, healthcare and legal industries. The GPT-3 AI model from Microsoft-backed (MSFT.O) OpenAI contained 175 billion parameters in 2020 and Meta Platform's (META.O) Llama 2 model had 70 billion parameters in 2023. At the conference, Chairman Joe Tsai also said about half of large-language AI models in the China now run on Alibaba Cloud.

Persons: Florence Lo, Tencent, OpenAI, Joe Tsai, Josh Ye, Brenda Goh, Jacqueline Wong, Christopher Cushing Organizations: REUTERS, HK, Microsoft, Meta, Thomson Locations: HONG KONG, Hangzhou, China

☆ China's semiconductor state fund invests $2 billion in memory chip firm
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Florence Lo/Illustration//File Photo Acquire Licensing RightsBEIJING, Oct 31 (Reuters) - China's state-backed chip investment fund has invested 14.56 billion yuan ($1.99 billion) in a memory chip company called Changxin Xinqiao, records showed. According to company registration website Qichacha, Changxin Xinqiao was founded in 2021 in Hefei city, in the eastern Anhui province. Its general manager is Zhao Lun, who is the general manager of ChangXin Memory Technologies, one of China's leading memory chip companies. Changxin Xinqiao and the Big Fund did not immediately respond to Reuters' requests for comment. The organization raised 138.7 billion yuan for its first fund, and 204 billion yuan for its second fund.

Persons: Florence Lo, Changxin Xinqiao, Zhao Lun, YMTC, Changxin, Yelin Mo, Roxanne Liu, Brenda Goh, Simon Cameron, Moore Organizations: REUTERS, Rights, China Integrated Circuit Industry Investment Fund, National Enterprise, Technologies, Big Fund, Memory Technologies, Huawei Technologies Co, Big, Reuters, Thomson Locations: China, Rights BEIJING, Changxin, Hefei city, Anhui, United States, Changxin Xinan, Hefei Xinyi, Taiwan, South Korea, Beijing, Shanghai

The Southeast Asian electronics manufacturing hub already hosts U.S. giant Intel's (INTC.O) largest semiconductor packaging and testing plant worldwide and is home to several chip designing software firms. It is working on a strategy to attract more semiconductor investment, including from foundries, which focus on manufacturing chips. Meetings with half a dozen U.S. chip firms took place in recent weeks, including with fab operators, Vu Tu Thanh, head of the Vietnam office of the US-ASEAN Business Council, told Reuters. He declined to identify the firms because talks were still at a preliminary stage. John Neuffer, President of the U.S. Semiconductor Industry Association, at the same conference recommended the government focus on chip sectors where Vietnam was already strong, such as assembling, packaging and testing.

Persons: Florence Lo, PSMC, Tu Thanh, Joe Biden, GlobalFoundries, Hung Nguyen, Viettel, Robert Li, John Neuffer, Francesco Guarascio @fraguarascio, Khanh Vu, Fanny Potkin, Lincoln Organizations: REUTERS, Hanoi, U.S, ASEAN Business Council, Reuters, GlobalFoundries, Industry, Hanoi's University Vietnam, BET, Vietnam Semiconductor, European Union, U.S . Semiconductor Industry Association, Reuters Graphics Reuters, Thomson Locations: Vietnam, HANOI, U.S, Hanoi, China, South Korea, Singapore

Chinese Vice Premier He Lifeng attends a joint press conference following the 10th China-EU High-Level Economic and Trade Dialogue at the Diaoyutai State Guesthouse in Beijing, China September 25, 2023. REUTERS/Florence Lo/File Photo Acquire Licensing RightsBEIJING, Oct 30 (Reuters) - China's economy tsar He Lifeng has been appointed director of a key ruling Communist Party economic body, matching his high-profile predecessor Liu He with a particularly powerful portfolio covering economic policy, the financial sector and trade ties with Washington. He, who had previously headed the state planning agency, became one of China's four vice premiers in March when he replaced Liu He, who retired. He has now also replaced Liu as director of the office of the Central Finance and Economic Affairs Commission, a party body headed by President Xi Jinping. He could emerge as head of the resurrected Central Financial Work Commission, when state leaders, regulators and top bankers gather for a quinquennial, closed-door national financial work conference.

Persons: Lifeng, Florence, Liu, Liu He, Xi Jinping, Xi, Li Qiang, Janet Yellen, Valdis Dombrovskis, Joe Cash, Simon Cameron, Moore Organizations: REUTERS, Rights, Communist Party, Washington, Central Finance, Economic Affairs Commission, U.S, Treasury, EU Trade, Harvard, Financial Work Commission, Bloomberg News, Thomson Locations: China, EU, Diaoyutai, Beijing, Rights BEIJING, Shanghai, China's, U.S

☆ Onsemi forecasts weak fourth quarter on slowing demand for electric vehicles
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

Semiconductors are seen on a printed circuit board in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsOct 30 (Reuters) - Chipmaker Onsemi (ON.O) forecast fourth-quarter revenue and profit below market expectations on Monday, in a sign that slowing demand for electric vehicles was beginning to hurt orders for its chips from the automotive industry. The company, whose clients include European automaker Volkswagen (VOWG_p.DE), forecast revenue in the range of $1.95 billion to $2.05 billion, compared to analysts' average estimate of $2.18 billion, according to LSEG data. Onsemi forecast its fourth-quarter adjusted diluted earnings per share in the range of $1.13 to $1.27, below analysts' average estimate of $1.36. Its third-quarter revenue of $2.18 billion inched past expectations of $2.15 billion.

Persons: Florence Lo, Elon Musk, Juby Babu, Arun Koyyur Organizations: REUTERS, Volkswagen, Thomson Locations: Arizona, Bengaluru

☆ China Evergrande faces winding-up challenge in Hong Kong court
▼ + stars: | 2023-10-29 | by ( ) www.reuters.com time to read: +2 min

An Evergrande sign is seen near residential buildings at an Evergrande residential complex in Beijing, China September 27, 2023. REUTERS/Florence Lo/File Photo Acquire Licensing RightsHONG KONG, Oct 30 (Reuters) - China Evergrande Group's (3333.HK) fate will be tested on Monday as Hong Kong's High Court hears a winding-up petition against the embattled property developer, nearly two years after it defaulted on its debts. Evergrande had been working on an offshore debt restructuring proposal for more than a year-and-a-half, but its plans were thrown off course last month when billionaire founder Hui Ka Yan was confirmed to be under investigation for suspected criminal activities. The world's most indebted property developer with more than $300 billion of total liabilities, Evergrande defaulted its offshore debt in late 2021 and became the poster child of a debt crisis that has since engulfed China's property sector. Top Shine, an investor in Evergrande unit Fangchebao, filed the winding-up petition in June 2022 because it said Evergrande had not honoured an agreement to repurchase shares the investor bought in the unit.

Persons: Florence, Evergrande, Hui Ka Yan, Clare Jim, Lincoln Organizations: REUTERS, HK, Thomson Locations: Beijing, China, HONG KONG, Evergrande

☆ China, U.S. Look to a Biden-Xi Summit While Wrestling Tensions
▼ + stars: | 2023-10-27 | by ( Charles Hutzler | ) www.wsj.com time to read: +1 min

Beijing reappointed top diplomat Wang Yi to replace Qin Gang as foreign minister during an emergency session, without addressing Qin’s mysterious absence. Chinese leader Xi Jinping had handpicked Qin seven months earlier. Photo: Florence Lo/Pool Reuters/Associated PressWASHINGTON—China’s foreign minister opened meetings with the Biden administration national security team to brighten the way for a summit between their leaders and keep in check the gamut of issues driving the countries’ tensions. Secretary of State Antony Blinken , who held talks with Chinese Foreign Minister Wang Yi, said he wants to enlist Beijing’s help in keeping the Israel-Hamas war from widening. China’s harassment of Philippine ships trying to resupply a South China Sea outpost also drew a sharp warning from President Biden this week not to attack a U.S. ally.

Persons: Wang Yi, Xi Jinping, Qin, Florence, Biden, Antony Blinken, Beijing’s Organizations: Beijing, Reuters, Associated Press WASHINGTON, Foreign Locations: Israel, China, U.S

[1/2] The logo of Temu, an e-commerce platform owned by PDD Holdings, is seen on a mobile phone displayed in front of its website, in this illustration picture taken April 26, 2023. Shein's lawsuit against Temu, filed last December in the U.S. District Court for the Northern District of Illinois, alleged that Temu told social media influencers to make disparaging remarks about the fast-fashion retailer, and tricked customers into downloading the Temu app using "imposter" social media accounts. In July, Temu filed its own lawsuit in Boston federal court, accusing Shein of violating U.S. antitrust law in its dealings with clothing manufacturers. Temu's complaint alleged Shein "forces manufacturers to sign loyalty oaths certifying that they will not do business with Temu." Temu, whose parent company PDD Holdings also owns Chinese shopping platform Pinduoduo, similarly sells low-priced clothing but is equally well known for stocking cheap headphones and home appliances.

Persons: Florence Lo, Shein, Temu, Casey Hall, Christian Schmollinger Organizations: PDD Holdings, REUTERS, Rights, Northern, Northern District of, Temu, HSBC, Thomson Locations: U.S, Chicago, Boston, Northern District, Northern District of Illinois, China, Europe, Asia

☆ Dollar firms, yen weakens to intervention-wary level
▼ + stars: | 2023-10-26 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. The Japanese yen touched a fresh one-year low of 150.32 per dollar overnight and was last at 150.26. Japanese finance minister Shunichi Suzuki warned investors against selling the yen again on Thursday, saying authorities were closely watching moves. The New Zealand dollar also touched an 11-month low of $0.5780 and was last down 0.22% at $0.5788. Soft European economic data and negative interest rate differentials between Europe and the US will likely keep a lid on euro/dollar."

Persons: Florence Lo, Shunichi Suzuki, Suzuki, Carol Kong, Rodrigo Catril, CBA's, Sterling, bitcoin, Ankur Banerjee, Edwina Gibbs Organizations: U.S, REUTERS, Rights, Commonwealth Bank of Australia, Bank of Japan, Reuters, Australian, New Zealand, Benchmark, National Australia Bank, Canadian, Bank of Canada, European Central Bank, ECB, Thomson Locations: Rights SINGAPORE, Europe, Singapore

☆ Japan's Denso to invest $3.3 billion to bulk up chips business
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

Semiconductor chips are seen on a printed circuit board in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsTOKYO, Oct 26 (Reuters) - Japanese automotive supplier Denso (6902.T) will invest about 500 billion yen ($3.3 billion) in semiconductors by 2030 as aims to triple the scale of its chips business by 2035 from current levels, the company's president said on Thursday. Thus, we will forge strategic partnerships with various companies," Denso President Shinnosuke Hayashi said at the Japan Mobility Show, which officially opened on Thursday. The company will hire new employees to specialise in electrification and software and also move staff from mature businesses to electrification and software, he said. ($1 = 150.1900 yen)Reporting by Daniel Leussink; Editing by David Dolan, Jamie Freed and Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence Lo, Shinnosuke Hayashi, Daniel Leussink, David Dolan, Jamie Freed, Edwina Gibbs Organizations: REUTERS, Rights, Denso, Toyota, Taiwan Semiconductor Manufacturing, Sony, Japan, Thomson Locations: Japan

☆ Evergrande did not file court documents by requested time -source
▼ + stars: | 2023-10-25 | by ( Clare Jim | ) www.reuters.com time to read: +2 min

An Evergrande sign is seen near residential buildings at an Evergrande residential complex in Beijing, China September 27, 2023. The embattled Chinese property developer was directed by the Hong Kong High Court to submit new documents by mid-last week, the person said. Evergrande and the Hong Kong High Court did not respond immediately to requests for comment. Failure to show the judge that a restructuring plan is progressing could increase the chances of a winding-up order, lawyers said. Evergrande said on Friday it was revising the terms of a proposed offshore debt restructuring deal to meet the firm's situation and creditors' demand, without providing details.

Persons: Florence, Evergrande, Hui Ka Yan, Clare Jim, Jamie Freed Organizations: REUTERS, China Evergrande, HK, Hong Kong High Court, Thomson Locations: Beijing, China, HONG KONG, Hong Kong

☆ Frail yen grazes 150 again as anxiety mounts over Middle East
▼ + stars: | 2023-10-23 | by ( Vidya Ranganathan | ) www.reuters.com time to read: +4 min

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. U.S. Treasuries were subdued as investors hunkered down for a European Central Bank meeting and U.S. GDP data later in the week. "Potentially there are two camps out fighting around 150, so that's why dollar-yen doesn't move from here," Yamamoto said. While there was some speculation the BOJ might once again tweak its yield-curve policy band at a scheduled policy review next week, the BOJ had also shown it will not let domestic yields rise sharply, he said. Yields dipped on Friday after the BOJ announced more loans to encourage financial institutions to buy JGBs.

Persons: Florence Lo, Jerome Powell, Masafumi Yamamoto, Yamamoto, Sean Callow, Shri Navaratnam, Simon Cameron, Moore Organizations: U.S, REUTERS, Rights, Hamas, United, European Central Bank, Bank of Japan, Mizuho Securities, Westpac, Brent, ECB, Reuters, Thomson Locations: Rights SINGAPORE, Asia, Gaza, United States, U.S, Tokyo, East

☆ China set to approve $137 bln in extra sovereign debt on Tuesday -sources
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +3 min

Chinese Yuan banknotes are seen in this illustration picture taken June 14, 2022. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsOct 23 (Reuters) - China is set to approve slightly more than 1 trillion yuan ($137 billion) in additional sovereign debt issuance on Tuesday as Beijing steps up its efforts to spur infrastructure spending and encourage economic growth, three sources told Reuters. China's top legislators, the standing committee of the National People's Congress (NPC), are set to approve the extra debt issuance on the last day of a meeting which has run from Oct. 20 to Oct. 24, said the sources, who declined to be named due to confidentiality constraints. But its ability to spur growth has been hamstrung by fears over debt risks and a fragile yuan. ($1 = 7.3171 Chinese yuan renminbi)Reporting by Reuters staff; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence Lo, Typhoon Doksuri, Alexander Smith Organizations: REUTERS, Reuters, National People's Congress, Information Office, NPC, Ministry of Finance, Thomson Locations: China, Beijing, Hebei, China's

☆ EV brand Beyonca signs investment deal with Saudi Arabian group
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: 1 min

Beyonca's GT Opus 1 concept car is unveiled during an event at the electric vehicle (EV) start-up's headquarters in Beijing, China October 30, 2022. REUTERS/Florence Lo/File Photo Acquire Licensing RightsBEIJING, Oct 23 (Reuters) - Electric vehicle brand Beyonca, backed by Renault (RENA.PA) and Dongfeng Motor (0489.HK), said on Monday that it signed an investment agreement with Riyadh-based Al Faisaliah Group Holding Company. At the signing ceremony at Dongfeng Motor's headquarters in the central Chinese city of Wuhan, Beyonca also inked a strategic cooperation deal with QG FZE-LLC regarding investment opportunities in the Middle East, according to the EV brand. Reporting by Beijing newsroom; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence, Beyonca, QG, Jamie Freed Organizations: REUTERS, Rights, Renault, HK, Al, Group Holding, Beijing, Thomson Locations: Beijing, China, Rights BEIJING, Riyadh, Wuhan

☆ Dollar rebuffed from 150 level vs yen after Powell/Treasuries double-whammy
▼ + stars: | 2023-10-20 | by ( Amanda Cooper | ) www.reuters.com time to read: +5 min

[1/2] Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. Yet this has not translated into a similar boost to the dollar this week, which made only marginal gains while toying with the 150 level against the yen. This number marks the point at which many market participants believe Japan's Ministry of Finance (MOF) could step in to shore up the currency. Speculators have almost doubled their bullish dollar positions against other G10 currencies this month to the most in a year. Money markets show traders fully expect to see no change in rates at the Fed's next policy meeting.

Persons: Florence Lo, Jerome Powell, Jeremy Stretch, Stretch, Omori, POWELL, Powell, Ray Attrill, he's, Sterling, Carol Kong, Rae Wee, Kevin Buckland, Kim Coghill, Angus MacSwan, Gareth Jones Organizations: U.S, REUTERS, Federal, Treasury, Swiss, Japan's, of Finance, CIBC Capital Markets, Ministry, Finance, Mizuho Securities, National Australia Bank, Swiss National Bank, Commonwealth Bank of Australia, Thomson Locations: Treasuries, Japan, Tokyo, U.S, Asia, China, Singapore

☆ Dollar toys with 150 level vs yen after Powell/Treasuries double-whammy
▼ + stars: | 2023-10-20 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

[1/2] Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. Speculators have almost doubled their bullish dollar positions against other G10 currencies this month to the most in a year. This week's bond sell-off has raised the chances of a break of 150 in the currency. Money markets show traders fully expect to see no change in rates at the Fed's next policy meeting. The Swissie was last down against the dollar, which rose 0.2% to 0.8935 per dollar.

Persons: Florence Lo, Jerome Powell, Jeremy Stretch, Stretch, Omori, POWELL, Powell, Ray Attrill, he's, Sterling, Carol Kong, Rae Wee, Kevin Buckland, Shri Navaratnam, Kim Coghill, Angus MacSwan Organizations: U.S, REUTERS, Federal, Treasury, Swiss, Japan's, of Finance, CIBC Capital Markets, Ministry, Finance, Mizuho Securities, National Australia Bank, Commonwealth Bank of Australia, Thomson Locations: Treasuries, Japan, Tokyo, U.S, Asia, China, Singapore

If U.S. and Chinese growth holds up, the investment landscape will need to be redrawn too. Reuters Image Acquire Licensing RightsBut what if peak bond bearishness is already upon us? As Societe Generale's Albert Edwards points out, once the quarterly deflator is factored in, nominal GDP growth in the third quarter was actually only 3.5%. Reuters Image Acquire Licensing RightsEqually, U.S. stocks look expensive if high yields start to choke the economy. Reuters Image Acquire Licensing Rights(The opinions expressed here are those of the author, a columnist for Reuters.)

Persons: Florence Lo, Societe Generale's Albert Edwards, Chris Iggo, Jamie McGeever, Chizu Organizations: REUTERS, Rights, Societe Generale's, World Bank, International Monetary Fund, of America's, HSBC, Reuters, AXA Investment, Bank of America's, Thomson Locations: Rights ORLANDO , Florida, United States, China, Atlanta, Beijing, Europe, U.S, Bank

☆ CEO of China's Weibo tests new real-name policy on his own account
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +2 min

File photo: The logo of Chinese social media app Weibo is seen on a mobile phone in this illustration picture taken December 7, 2021. The comments by Wang Gaofei, whose microblogging platform is China's equivalent of X, caught the attention of local media and several Weibo users, amid concerns over growing censorship and government scrutiny over the country's internet. In Wang's case, the display of his name on his account was first pointed out by a user, leading him to respond that he was testing out this policy on his own account first. "Long-time followers (of my account) all know that (I) try to first use (new) functions myself," he wrote. He also suggested users could delete followers to avoid being subjected to the policy.

Persons: Florence Lo, Wang Gaofei, Wang, Eduardo Baptista, Tomasz Janowski Organizations: Weibo, REUTERS, Rights, Thomson Locations: Rights BEIJING, China

☆ Chinese gallium prices hit 7-month high as demand improves, shipments resume
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsBEIJING, Oct 19 (Reuters) - Chinese prices of chip-making metal gallium hit their highest since February this week on stronger domestic demand and growing hopes of recovering exports, analysts and suppliers said. The spot price of gallium metal reached 1,975 yuan ($269.95) per kg on Oct. 18, up 18% since the start of July and up 8% since Aug. 1, data from consultancy Shanghai Metals Market showed. The Ministry of Commerce said last month that some Chinese companies have obtained export licences for gallium and germanium products. European prices of gallium metal surged by 68% from early July to $475 per kg on Oct. 18 and was up 23% from August, data from information provider Fastmarkets showed. ($1 = 7.3162 Chinese yuan)Reporting by Amy Lv and Dominique Patton in Beijing; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence Lo, Li Yilan, Antaike, Amy Lv, Dominique Patton, Shounak Dasgupta Organizations: REUTERS, Rights, . Geological Survey, Shanghai Metals, Beijing, Commerce, Fastmarkets, Thomson Locations: China, Rights BEIJING, Beijing

Domestic equipment manufacturers, such as toolmaker Naura (002371.SZ) and etching equipment maker AMEC, are winning a much higher proportion of tenders from Chinese foundries than in previous years, as chipmakers race to replace foreign-made equipment with domestically made alternatives, research showed. "There is definitely huge progress happening in the Chinese semiconductor equipment space, as reflected in the strong revenue growth metrics," he said. The Huatai Securities report revealed that for the first eight months of 2023, only one tender for lithography equipment was awarded to a Chinese company, out of many bids. "Local players still lack capability to supply a full set of equipment, such as EUV," said Nori Chiou, investment director at White Oak Capital, saying Chinese manufacturers are focused on covering mature node equipment. "It’s a long way to go to see advanced semiconductor equipment made in China."

Persons: Florence Lo, Xi Jinping, Biden, Hua Hong, SMIC, Nori, Fanny Potkin, Yelin, Ellen Zhang, Brenda Goh, Sharon Singleton Organizations: REUTERS, Companies, Huatai Securities, Beijing, Reuters, HK, Hua Hong Semiconductor, CINNO Research, Analysts, Materials Inc, Lam Research Corp, U.S, Huawei Technologies, White Oak, Thomson Locations: China, SINGAPORE, BEIJING, Japan, Netherlands, U.S, ASML, Singapore, Yelin Mo, Beijing

☆ SK Hynix denies report about approaching SoftBank on Kioxia merger
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +1 min

Memory chips by South Korean semiconductor supplier SK Hynix are seen on a circuit board of a computer in this illustration picture taken February 25, 2022. REUTERS/Florence Lo/Illustration Acquire Licensing RightsSEOUL, Oct 18 (Reuters) - South Korea's SK Hynix Inc (000660.KS), the world's second-largest memory chip maker, said on Wednesday it has not approached Japan's SoftBank Group (9984.T) to partner up in a possible deal with memory chipmaker Kioxia Holdings Corp.A Nikkei report earlier on Wednesday said SK Hynix is reluctant to back a merger between U.S. rival Western Digital's memory chip operations and Kioxia, in which SK Hynix holds a stake. The report went on to say that SK Hynix had sounded out SoftBank for a partnership in case the merger falls through. "SK Hynix denies Nikkei's report that the company approached SoftBank for collaboration with regard to the Kioxia-Western Digital deal," the company said in a statement, without commenting on its stance on the merger. Kioxia and Western Digital Corp (WDC.O) are pursuing a merger as a global chip glut and weak demand for flash memory chips strengthens pressure for chipmakers to consolidate.

Persons: Florence Lo, Japan's, SoftBank, Kioxia, Joyce Lee, Anton, Simon Cameron, Moore, Louise Heavens Organizations: SK Hynix, REUTERS, Rights, Korea's SK Hynix Inc, Japan's SoftBank, Kioxia Holdings Corp, Nikkei, Wednesday, U.S, Western, SoftBank Group, Western Digital Corp, Thomson Locations: Rights SEOUL

REUTERS/Florence Lo/Illustration Acquire Licensing RightsOct 18 (Reuters) - Chip manufacturing equipment supplier Lam Research (LRCX.O) forecast second-quarter revenue slightly below Wall Street estimates on Wednesday due to weak memory chip demand, even though its China business continues to boom. Lam posted first-quarter revenue of $3.48 billion, compared with market estimates of $3.41 billion. China constituted 48% of its first-quarter revenue compared with 30% a year earlier, the company said. The rules narrowed restrictions announced last year that cost Lam roughly $2 billion dollars in lost revenue. "I don't know if China is up, down or sideways next year, but it's not going away," Bettinger said.

Persons: Florence Lo, Doug Bettinger, Bettinger, Lam, it's, Jaspreet Singh, Max A, Sriraj Kalluvila, Jamie Freed Organizations: REUTERS, Lam Research, Samsung Electronics, SK Hynix, Micron Technology, Thomson Locations: China, Fremont , California, Bengaluru, Max, San Francisco

Flags of China and U.S. are displayed on a printed circuit board with semiconductor chips, in this illustration picture taken February 17, 2023. Reuters reported in June that the very AI chips barred by prior regulations could be purchased from vendors in China's Shenzhen. AI capabilities, aided by supercomputing and advanced chips, improve the speed and accuracy of military decision-making, planning and logistics, according to the regulations released Tuesday. LICENSING EXPANDEDThe new measures also expand licensing requirements for exports of advanced chips to more than 40 additional countries that present risks of diversion to China and are subject to U.S. arms embargoes. "We don’t think incremental semiconductor equipment restrictions are likely to have significant long term effects" on equipment suppliers, Wolfe Research said in a client note.

Persons: Florence Lo, Biden, Moore, Gina Raimondo, Biren, ASML, Lam, Raimondo, Jake Sullivan, Janet Yellen, Alexandra Alper, Karen Freifeld, Stephen Nellis, David Shepardson, Max A, Chris Sanders, Jamie Freed, Daniel Wallis Organizations: REUTERS, Rights, Nvidia, Beijing, Commerce, Reuters, Georgetown University's Center for Security, Emerging Technology, Xilinx, Intel, supercomputing, HIT, AMD, U.S, Lam, Applied Materials, Wolfe Research, Semiconductor Industry Association, Thomson Locations: China, U.S, Iran, Russia, Beijing, China's Shenzhen, Georgetown, CHINA, Macau, Netherlands

☆ How the US will cut off China from more AI chips
▼ + stars: | 2023-10-17 | by ( Stephen Nellis | ) www.reuters.com time to read: +4 min

CAPTURING MORE CHIPSThe original rules last year restricted chips if they met a two-pronged test for how much computing power the chips contained and how fast they could talk to other chips. Nvidia (NVDA.O) , the top AI chip supplier, responded by creating chips that stayed just under the communication limits for the Chinese market but that still proved useful for AI work. BLACKLISTING CHINA'S NVIDIA CHALLENGERSChip industry watchers believe that if U.S. AI chips are banned in China, Chinese firms will seek to fill the void in the market. On Tuesday, U.S. officials added two leading Chinese chip startups, Biren and Moore Threads, to a U.S. trade blacklist. That threshold would encompass nearly all advanced AI chips and is aimed at helping chip factories spot efforts to work around the rules.

Persons: Florence Lo, Biden, Moore, Stephen Nellis, Marguerita Choy Organizations: REUTERS, Nvidia, Taiwan Semiconductor Manufacturing, San, Thomson Locations: China, U.S, Macau, San Francisco

☆ Explainer: Biden combines billions in chipmaking grants with China curbs to keep US ahead
▼ + stars: | 2023-10-17 | by ( Alexandra Alper | ) www.reuters.com time to read: +4 min

Semiconductor chips are seen on a printed circuit board in this illustration picture taken February 17, 2023. Those rules aimed to stem the flow of high-end American artificial intelligence chips and chipmaking tools into China. The United States has been locked in a technology war with China since former President Trump blacklisted Chinese telecoms giant Huawei in 2019. BILLIONS FOR CHIPSThe United States, meanwhile, has been helping non-Chinese chipmakers negotiate with states like Arizona, Texas and New York to set up shop or grow existing operations. According to the Semiconductor Industry Association, the share of global semiconductor manufacturing capacity in the U.S. has decreased from 37% in 1990 to 12% in 2022.

Persons: Florence Lo, Biden, Emily Kilcrease, Trump, Joe Biden, ”, Peter Harrell, TSMC, Alexandra Alper, Jonathan Oatis Organizations: REUTERS, Rights, U.S, Center, New, New American Security, Trade Representative, United, Huawei, Biden, chipmaker Micron, Semiconductor Industry Association, Samsung, Intel, Companies, Chips, Science, Thomson Locations: China, United States, New American, U.S, Arizona , Texas, New York, South, Ohio, Taiwan

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