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☆ The dangerous parallels between Putin’s ambitions in Ukraine and Xi’s claims on Taiwan
▼ + stars: | 2024-02-27 | by ( Will Ripley | ) edition.cnn.com time to read: +12 min

What is happening is to a certain extent, an element of a civil war,” Putin claimed. The island remained a Japanese colony for half a century until the end of World War II, when it came under the control of China’s ruling Nationalist government. Today Xi is expanding China’s military at a pace the world hasn’t seen in a century – since before World War Two. Long-time China analyst Steve Tsang, author of “If China Attacks Taiwan,” once told me that Xi’s military build-up is, by comparison, larger than Nazi Germany and Imperial Japan combined. Many here in Taiwan fear it’s only a matter of time before Xi, like Putin, puts his words into action.

Persons: Taiwan CNN —, Kolas Yotaka, Tucker, Vladimir Putin, “ Putin, Xi, ”, Putin, Xi Jinping, ” Yotaka, –, Jens Stoltenberg, “, ” Stoltenberg, it’s, ” China’s, Russia –, Carlson, ” Putin, Critics, Chiang Kai, shek, ” Xi, He’s, Tsai Ing, Steve Tsang Organizations: Taiwan CNN, Taiwan Presidential, Taiwan –, NATO, Munich Security, Communist Party, Russia, Observers, Nationalist, Communists, Taiwan’s National Chengchi, Democratic Progressive Party, Taipei, Xi, Navy, Global China, Atlantic Council, Taiwan Relations Locations: Taipei, Taiwan, Ukraine, Beijing, China, Russia, Soviet, Ukrainian, Soviet Union, Japan, Republic of China, Taiwan Strait, United States, Hong Kong, Nazi Germany, Imperial Japan, Washington

☆ CLP CEO: We're 'open-minded' about the technologies we want to invest in
▼ + stars: | 2024-02-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCLP CEO: We're 'open-minded' about the technologies we want to invest inTK Chiang, CEO of the Hong Kong electricity company, discusses renewable energy opportunities and its five-year development plan.

Persons: We're, TK Chiang Organizations: TK Locations: Hong Kong

☆ Chip giant TSMC opens first Japan factory as it diversifies away from Taiwan amid U.S.-China tensions
▼ + stars: | 2024-02-26 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

A general view shows the new semiconductor plant by Japan Advanced Semiconductor Manufacturing Company (JASM), a subsidiary of Taiwan's chip giant TSMC (Taiwan Semiconductor Manufacturing Company), in Kikuyo of the Kikuchi district, Kumamoto prefecture on February 14, 2024. (Photo by Philip FONG / AFP) (Photo by PHILIP FONG/AFP via Getty Images)Taiwan Semiconductor Manufacturing Company opened its first chip plant in Japan on Saturday as it diversifies supply chains away from Taiwan amid intensifying U.S.-China trade tensions. Paul You, chairman of First Securities Investment Corporation said last month that the global semiconductor industry including Taiwan's could be at risk from the U.S.-China chip war. Japan Advanced Semiconductor Manufacturing Inc., the manufacturing company majority-owned by TSMC, began construction of the plant in April 2022. Japan has been striving to strengthen its semiconductor presence amid an intense rivalry with key chip making countries such as Taiwan and South Korea.

Persons: Philip FONG, PHILIP FONG, Paul You, TSMC, JASM Organizations: Japan Advanced Semiconductor Manufacturing Company, Taiwan Semiconductor Manufacturing, AFP, Getty Images, Taiwan Semiconductor Manufacturing Company, Nvidia, Apple, U.S, First Securities Investment Corporation, U.S ., Semiconductor Manufacturing Inc, TSMC, Sony Semiconductor Solutions, Denso Corporation, Samsung, Center, Strategic, International Studies Locations: Japan, Kikuyo, Kikuchi, Kumamoto prefecture, AFP, Taiwan, China, Europe, U.S, Kumamoto, South Korea

☆ Ride-hailing giant Grab posts first profitable quarter, announces $500 million share buyback
▼ + stars: | 2024-02-23 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

SINGAPORE — Grab posted its first-ever profitable quarter, raking in $11 million in profit, the Southeast Asian ride-hailing giant said in its fourth-quarter earnings report Thursday. Revenue for the quarter hit $653 million, exceeding LSEG analysts' estimates of $634.86 million. Losses for full year 2023 came to $485 million, down 72% from $1.74 billion a year ago. In addition to ride-hailing, the company also provides financial services like payments and insurance, as well as deliveries for food, groceries and packages. "We exited [2023 with] mobility exceeding pre-Covid levels.

Persons: Peter Oey Organizations: Nasdaq, Revenue, CNBC Locations: Singapore, SINGAPORE

☆ A 'family vacation' for two: Why more parents are taking trips with one child at a time
▼ + stars: | 2024-02-23 | by ( Monica Pitrelli | Marylou Costa | ) www.cnbc.com time to read: +6 min

They travel together, but time away with just one child and one parent has perks that family trips don't often provide, she said. "Travelling with only one child allows you to focus on the needs of only that child," she said. Source: Sonja ProkopecProkopec hasn't taken solo trips with her two youngest children, mostly because of Covid-19, she said. Mother-and-daughter trips in particular are on the rise, though father-and-child trips are also becoming more popular, according to the company. She said she vividly remembers the trips she took as a child with her mother and grandmother.

Persons: Sonja Prokopec, Prokopec, she's, —, Prokopec's, Laith, Sonja Prokopec Prokopec hasn't, Scott Dunn, Scott Dunn's, Mike Harlow, Scott Dunn's Mike Harlow, Harlow, Chiang, Monica Pitrelli, Madeline Austin Organizations: CNBC Travel, Istock, Getty, Yellowstone, Hollywood Locations: Rome, London, Turkey, Norway, Finland, Africa, Cambodia, Vietnam, Thailand, Sri Lanka, South Korea, India, Chiang Rai, Myanmar, Thai, California, Los Angeles , California

☆ Google to start manufacturing Pixel smartphones in India by next quarter
▼ + stars: | 2024-02-22 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

Google plans to starts producing its Pixel smartphones in India by the next quarter, according to a Nikkei Asia report on Thursday. The report also said Google will begin manufacturing Pixel 8 Pro phones in the April-June quarter, followed by the production of the Pixel 8 around the middle of 2024. Google will be competing with smartphone giants Apple and Samsung in India, as well as Chinese brands vivo and Xiaomi. "For 2023, India's smartphone market maintained stability with 148.6 million shipments overall, a minor drop of 2%," research firm Canalys said last month. Xiaomi continued its robust performance, claiming second place by shipping 7.2 million units.

Persons: Canalys, Xiaomi, Apple Organizations: Nikkei, Google, Apple, Samsung, Research Locations: India, Nikkei Asia, U.S, China

☆ AI and semiconductor stocks surge after Nvidia's earnings beat
▼ + stars: | 2024-02-22 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

Artificial intelligence and semiconductor chip stocks rallied after U.S. chip design firm Nvidia beat Wall Street's expectations for fourth-quarter earnings and revenue on Wednesday and projected "continued growth" in 2025 and beyond. Nvidia supplier Taiwan Semiconductor Manufacturing Company jumped as much as 2.05% in Thursday morning trade. TSMC is the world's largest contract chip maker and produces advanced processors for companies like Nvidia and iPhone maker Apple . Following Nvidia's earnings report, rivals Advanced Micro Devices and SoftBank-backed U.K. chip designer Arm Holdings surged 4.08% and 7.87%, respectively, in after hours trading. Nvidia, which custom designs AI chips for the likes of Amazon, Microsoft and Google, saw skyrocketing demand for its graphics processing units thanks to the AI boom.

Organizations: Nvidia, U.S, Taiwan Semiconductor Manufacturing Company, Apple, Devices, Arm, Microsoft, Google Locations: Krakow, Poland, Wednesday's, Dutch, U.S

☆ Shares of supplier TSMC, chip equipment maker ASML fall ahead of Nvidia's earnings report
▼ + stars: | 2024-02-21 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

Shares of two critical chip firms TSMC and ASML fell ahead of U.S.-based artificial intelligence chip designer Nvidia's earnings report. Shares of Taiwan Semiconductor Manufacturing Company dropped more than 1% on Wednesday morning. Nasdaq-listed shares of Dutch semiconductor equipment maker ASML closed 2.09% lower on Tuesday. ASML supplies the likes of TSMC with machines that are critical to manufacturing chips. Other Taiwanese semiconductor companies United Microelectronics Corp .

Persons: ASML, Jensen Huang, MediaTek Organizations: Nvidia, Taiwan Semiconductor Manufacturing Company, Apple, Nasdaq, United Microelectronics Corp Locations: Krakow, Poland, U.S

☆ Alibaba bets on overseas e-commerce unit amid sluggish growth in China
▼ + stars: | 2024-02-20 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +5 min

Costfoto | Nurphoto | Getty ImagesChinese tech giant Alibaba Group is betting on its overseas businesses while domestic consumption growth remains sluggish. James Dong, CEO of Southeast Asian e-commerce giant Lazada Group, was named as Daraz's acting CEO. Dong took over as Lazada Group CEO from Chun Li in June 2022, after running the company's Thailand and Vietnam operations. Intense competitionThe e-commerce business that once propelled Alibaba to success has run into challenges with upstart competitors such as PDD, while consumption growth in China remains sluggish. Alibaba posted 9% year-on-year revenue growth in the third quarter to about $31 billion.

Persons: Eddie Wu, Yinglan Tan, AliExpress, Bjarke Mikkelsen, Jan, James Dong, Lazada, Tan, Alibaba, Zhang, Dong, Chun Li, Li, Pierre, Lucy Peng, PDD Organizations: Nurphoto, Getty, Digital Commerce, Tmall, Tmall Group, Alibaba, Ventures, Lazada, CNBC, Ventures Partners, Alibaba Group, PDD Holdings, Hong Kong, HK Locations: Huangpu District, Shanghai, Taobao, monetization, Alibaba, Pakistan, Asia, China, Thailand, Vietnam, Hong Kong

☆ Singapore's AI ambitions get a boost with $740 million investment plan
▼ + stars: | 2024-02-19 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

The Singapore River and Merlion Park in the eveningSINGAPORE — Singapore's plan to invest more than $743 million into artificial intelligence over the next five years could strengthen its position as a global business and innovation hub, tech executives said. In his Budget speech on Friday, Deputy Prime Minister Lawrence Wong said Singapore will invest more than 1 billion Singapore dollars over the next five years to further boost the country's AI capabilities. As part of the investment, Singapore will work to ensure it can secure access to the advanced chips "that are so crucial to AI development and deployment," Wong said. Singapore will also work with leading companies here and around the world to set up AI centers of excellence to spur innovation, he added. Singapore workers are already the world's fastest when it comes to adopting AI skills, according to LinkedIn's Future of Work report released in August.

Persons: Lawrence Wong, Nithin Chandra, Chandra, Wong, Jonathon Dixon, Mao Gen Foo Locations: Singapore, SINGAPORE, Southeast Asia, Kearney, Cloudflare

☆ Factbox-Thailand's Polarising Ex-PM Thaksin Shinawatra
▼ + stars: | 2024-02-17 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +4 min

(Reuters) - Thailand's billionaire former Prime Minister Thaksin Shinawatra was released from detention on Sunday, enjoying freedom in his country for the first time since fleeing into exile nearly 16 years ago to avoid jail. - Thaksin ran several failed businesses with his wife before getting his break in the 1980s leasing computers to the police. In 2010, a court seized $1.4 billion worth of Shinawatra assets, concluding Thaksin had concealed his Shin Corp shareholdings and tailored policy to benefit his business. - Thaksin's sister, Yingluck Shinawatra, was also prime minister and suffered an almost identical fate as him. - Thaksin's youngest daughter, Paetongtarn Shinawatra, 37, is Pheu Thai party leader and eligible to become prime minister.

Persons: Thaksin Shinawatra, Chiang Mai, Thaksin, Yingluck Shinawatra, Paetongtarn Shinawatra, Srettha Thavisin, Martin Petty, Raju Gopalakrishnan Organizations: Reuters, Eastern Kentucky University, Kentucky Fried, Thailand's, Shin Corporation, Shin Corp, English Premier League football, Fulham, Manchester City, Forbes, Thai Rak, Thai Rak Thai, People Power Party, Srettha Locations: Thai, Chiang, Kentucky, Singapore, Thailand, Liverpool, Dubai, Britain, Montenegro, Thai Rak Thai, Thai Rak, Bangkok

☆ China Says No Banned Areas Around Taiwanese Islands After Two Killed
▼ + stars: | 2024-02-17 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +3 min

BEIJING (Reuters) - There are no off limits or restricted areas for fishing around a group of Taiwanese islands close to China's coast and Beijing reserves the right to take further measures after two Chinese nationals died near the islands, the government said. Taiwan, which China claims as its own territory, has complained in recent years about Chinese fishing boats and other vessels operating in Taiwan-controlled waters, especially around the Kinmen and Matsu islands which sit a short distance from China's coast. Late on Saturday, China's Taiwan Affairs Office, which has already condemned Taipei for the incident near Kinmen's Beiding islet, said the deaths had caused "strong indignation" in China. China's Taiwan Affairs Office said the government had goodwill towards Taiwan's people, but will never tolerate Taiwan's disregard for the safety of Chinese fishermen. "The mainland reserves the right to take further measures, and Taiwan shall bear all the consequences," it added, without elaborating.

Persons: Kinmen, Taipei Mayor Chiang Wan, Xu Hao, Ben Blanchard Organizations: China's Taiwan Affairs Office, Fishermen, Taiwan Affairs Office, Taiwan Affairs Office's, Beijing Locations: BEIJING, China's, Beijing, Taiwan, China, Taipei, Xiamen, Quanzhou, Shanghai, Taipei Mayor, Taiwan Affairs Office's Shanghai

☆ The Eastern & Oriental luxury train restarted this week — here’s what a trip costs
▼ + stars: | 2024-02-16 | by ( Monica Pitrelli | ) www.cnbc.com time to read: +2 min

The train, which is operated by the luxury travel company Belmond, this week welcomed its first set of passengers since it stopped running as a result of the Covid-19 pandemic. The luxury train has been operating in Southeast Asia since 1993, when it first began shuttling travelers between Singapore and Bangkok. Now Thailand is out, replaced with two new journeys, which start and end in Singapore and explore different sides of Malaysia. The new routes are seasonal, with the "Essence of Malaysia" running from November to February, and "Wild Malaysia" from March to October. Prices start from £3,530 ($4,430) per person for a one-night trip in a historic cabin, according to its website.

Persons: Arnaud Champenois, Belmond's, Andre Chiang, Singapore's, Andre Organizations: Oriental Express, CNBC, Orient Locations: Southeast Asia, Singapore, Bangkok, Thailand, Malaysia, West Coast, Penang, Langkawi, Kuala Lumpur, Wild, Taman, Venice, Europe

☆ TSMC shares hit record high after Morgan Stanley lifts client Nvidia's price target on AI chip demand
▼ + stars: | 2024-02-15 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

TSMC, which is the world's largest producer of advanced processors, manufactures chips for companies such as Nvidia and Apple . Morgan Stanley increased the price target on the U.S. chip giant to $750 from $603 on Feb. 7 and said it continues "to see a very strong near term picture." TSMC shares opened at a high of 709 New Taiwan dollars on Thursday morning and closed at NT$697, nearly 8% higher from its last close on Feb. 5. The Taiwan Stock Exchange resumed trading on Feb. 15 after the Chinese New Year break. "B100 transition an important near term driver, impacting H100 lead times and competitive dynamics," wrote Morgan Stanley analysts in the Feb. 7 report to clients.

Persons: TSMC, Morgan Stanley, ChatGPT Organizations: Taiwan Semiconductor Manufacturing Company, Nvidia, Apple, New, Taiwan Stock Exchange Locations: Krakow, Poland, U.S, New Taiwan

☆ Indonesia's GoTo denies merger talks with ride-hailing rival Grab
▼ + stars: | 2024-02-14 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

Photographer: Dimas Ardian/Bloomberg via Getty ImagesIndonesian tech giant GoTo on Tuesday denied it is in merger discussions with Singapore-based ride-hailing rival Grab . "The company would also like to emphasize that currently, the company is not having any discussion on such matters," said GoTo in a Tuesday filing. "The company would like to emphasize that the company has an increasingly strong fundamentals and financial position," said GoTo. The firm added that it has achieved "positive adjusted EBITDA target in Q4 2023, while exceeding the top end of its full year adjusted EBITDA guidance range." Grab closed 1.2% lower on the Nasdaq on Tuesday amid a broader sell-off in U.S. markets.

Persons: Indonesia's GoTo, Dimas Ardian, GoTo Organizations: ByteDance, Indonesia's, Bloomberg, Getty, Nasdaq Locations: Jakarta, Indonesia, Singapore, U.S

☆ Canadian Man Opens Thai Airways Plane Door Before Takeoff in Thailand
▼ + stars: | 2024-02-10 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +1 min

BANGKOK (Reuters) - A Canadian tourist opened the door of a Thai Airways flight that was preparing to take off from Chiang Mai airport bound for the capital Bangkok, local broadcaster ThaiPBS and officials said this week. "The whole plane was in chaos," wrote Facebook user Ananya Tiangtae, who was on the flight, adding that officials escorted the passenger off the plane. A passenger opened the emergency door, causing the inflatable slide to activate and the aircraft was unable to take off, Chiang Mai Airport director Ronnakorn Chalermsaenyakorn said late on Thursday. After the inspection, the aircraft was cleared to depart with all passengers and crew safe, Thai Airways said. The passenger was later seen in custody at a local police station on local TV station ThaiPBS, which identified the male tourist as Canadian.

Persons: Tiangtae, Ananya, Ronnakorn Chalermsaenyakorn, Ronnakorn, it's, Jirawat Yarnkiatpakdee, ThaiPBS, Chayut Setboonsarng, Tom Hogue Organizations: Canadian, Thai Airways, Chiang Mai Airport Locations: BANGKOK, Chiang Mai, Bangkok

☆ Canadian arrested for allegedly opening plane door, deploying evacuation slide in Thailand
▼ + stars: | 2024-02-09 | by ( Kocha Olarn | Karla Cripps | ) edition.cnn.com time to read: +2 min

Bangkok CNN —A Canadian man has been arrested in the northern Thai city of Chiang Mai after he allegedly opened the door on a commercial plane and triggered the evacuation slide prior to takeoff. According to a statement issued by the Chiang Mai International Airport, the incident took place on the night of February 7. The Airbus A320 was unable to be immediately moved, temporarily preventing other flights from taking off and landing, said the statement. Chiang Mai officials say 2,295 passengers were affected by the February 7 incident. Police said they were unaware of the suspect’s motive for opening the door, but noted he appeared stressed and was difficult to communicate with.

Persons: Bangkok CNN —, Chiang Mai, Chiang, “, ”, Ronnakorn Chalermsanyakorn, Manuschai, Wong Sai Heung Organizations: Bangkok CNN, Chiang Mai International Airport, Thai Airways, Bangkok’s Suvarnabhumi, Airbus, Airways, Chiang Mai International Airport Thai Airways, Chiang Mai Police, CNN, Police, Psychiatric, Canadian Embassy Locations: Bangkok, Thai, Chiang Mai, Thailand

☆ SoftBank shares extend their surge, pop more than 15% on earnings beat
▼ + stars: | 2024-02-09 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

SoftBank's Vision Fund, the brainchild of the company's founder Masayoshi Son, has faced a number of headwinds including a slump in technology stocks as a result of rising interest rates, a tough China market and geopolitics. Shares of SoftBank Group rose as much as 15.29% Friday morning, a day after the Japanese investment firm posted earnings that beat analysts' expectations. SoftBank's on Thursday posted its first quarterly profit following four quarters of losses, thanks to big gains at its Vision Fund. For the December quarter, SoftBank's net income was 950 billion Japanese yen ($6.36 billion), far exceeding LSEG estimates of 196.5 billion yen. Its flagship tech investment arm the Vision Fund booked investment gains of 600.7 billion Japanese yen, continuing a recovery after record losses in the previous fiscal year.

Persons: Masayoshi Son, SoftBank's, ChatGPT Organizations: Vision, Vision Fund, Nasdaq Locations: China

☆ Google says Singapore has 'very high' potential to be a global AI hub
▼ + stars: | 2024-02-07 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

American multinational technology company Google logo seen at Googleplex, the corporate headquarters complex of Google and its parent company Alphabet Inc.SINGAPORE — Singapore has "very high" potential as a global AI hub — thanks in part to an environment that fosters innovation, a Google Cloud executive told CNBC. "In order for AI to really deliver on its potential, you need really good public and private partnerships," Caroline Yap, managing director, global AI business and applied engineering at Google Cloud, told CNBC. Yap was speaking on the sidelines of Explore AI summit in January, a meeting hosted by Google Cloud and the Singapore government to recognize the top generative AI solutions from organizations that took part in the "AI Trailblazers" initiative. That enables to build and test their own generative AI solutions in a controlled and dedicated cloud-based environment. Through the joint partnership, 43 organizations across government and industry sectors successfully built their own generative AI solutions utilizing Google's AI stack.

Persons: Caroline Yap, Yap Organizations: Google, Alphabet Inc, SINGAPORE —, CNBC, Singapore's Ministry of Communications, Digital Industry, Smart Nation and Digital Government Office Locations: Googleplex, SINGAPORE, SINGAPORE — Singapore, Singapore, Digital Industry Singapore, Yap

☆ If you want to age in place in retirement, experts say these are the things you should consider
▼ + stars: | 2024-02-03 | by ( Lorie Konish | ) www.cnbc.com time to read: +6 min

Westend61 | Westend61 | Getty ImagesThere's no place like home — especially as you age. "People might say, 'I want to age in place as the default plan, because that's what I'm already doing,'" said Carol Chiang, CEO of Evolving Homes, a company providing personalized consulting for individuals and families who want to age in place. The costs of the upgrades necessary to age in place can vary, experts say. Chiang said she has seen the prices of bathroom upgrades vary within Florida, where her practice is based. To make sure your home upgrades are successful, experts say it's wise to keep several things in mind.

Persons: I'm, Carol Chiang, Chiang, Carolyn McClanahan, Curt Kiriu, Kiriu, there's, Thomas West Organizations: Westend61, Getty, AARP, Finance, Social Security, CNBC's FA, CK, Builders, National Association of Home Builders, Signature Estate, Investment Advisors Locations: CNBC's, Florida, Mililani, Hawaii, Oahu, Tysons Corner , Virginia

☆ ASEAN launches guide for governing AI, but experts say there are challenges
▼ + stars: | 2024-02-02 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

Close up of woman's hand touching illuminated and multi-coloured LED display screen, connecting to the future. People, lifestyle and technologyThe Association of Southeast Asian Nations on Friday published a framework for artificial intelligence governance, but experts say member states being at "different stages of digital development" could pose a challenge. "The guide seeks to establish common principles for trustworthy AI and suggest best practices for how to implement trustworthy AI in ASEAN," said Singapore's Ministry of Communications and Information. Singapore is hosting the 4th ASEAN Digital Ministers' Meeting from Feb. 1-2 to discuss emerging digital issues including AI and cyber scams. Kristina Fong, lead researcher for economic affairs at ASEAN Studies Centre, said "the light-touch, flexible approach" to managing AI risks with the guide is a "reflection of the challenges posed by the development gaps between ASEAN member states."

Persons: Kristina Fong, Fong Organizations: of Southeast Asian Nations, ASEAN, Singapore's Ministry of Communications, Information, ASEAN Digital Ministers, ASEAN Studies Centre Locations: Singapore

☆ AMD bets on AI-powered PCs as artificial intelligence race with Nvidia, Intel heats up
▼ + stars: | 2024-02-02 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

SHANGHAI, CHINA - JULY 28, 2023 - Photo taken on July 28, 2023 shows the AMD logo at the 2023 ChinaJoy in Shanghai, China. U.S. chip giant Advanced Micro Devices is betting on AI PCs to take on rivals including Nvidia and Intel as the AI race heats up. "[The market for] AI PCs is going to continue to expand," said Victor Peng, president of AMD, in an exclusive interview with CNBC on Thursday. He added that the firm expects more adoption of AI PCs in the second half of the year. IDC expects the integration of AI capabilities into PCs to serve as a catalyst for upgrades, hitting shelves this year.

Persons: Victor Peng, Enrique Lores Organizations: Nvidia, Intel, AMD, CNBC, ChatGPT, HP, International Data Corporation, IDC Locations: SHANGHAI, CHINA, Shanghai, China . U.S

☆ Samsung Electronics' operating profit falls 34.57% in the fourth quarter, in line with guidance
▼ + stars: | 2024-01-31 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

(Photo by Jakub Porzycki/NurPhoto via Getty Images) Jakub Porzycki | Nurphoto | Getty ImagesSamsung Electronics on Wednesday posted a 34.57% drop in operating profit in the fourth quarter from a year ago, in line with its guidance issued earlier this month. Here are Samsung's fourth-quarter results versus estimates: Revenue: 67.78 trillion Korean won (about $51 billion), vs. 69.27 trillion Korean won expected by LSEG analysts67.78 trillion Korean won (about $51 billion), vs. 69.27 trillion Korean won expected by LSEG analysts Operating profit: 2.82 trillion Korean won, vs. 3.43 trillion Korean won expected by LSEG analysts Samsung's revenue for the quarter ending December fell 3.8% from a year ago, while operating profit dropped 34.57% in the same period. In its earnings guidance earlier this month, Samsung said it expected operating profit for the October-December quarter to be 2.8 trillion South Korean won ($2.13 billion), down 35% from the same period a year ago when the firm reported an operating profit of 4.31 trillion won. Daiwa Capital Markets in a Jan. 9 report said Samsung's revenue and operating profit estimates were "lower than our market estimates." "We aim to establish Samsung as the leading brand in the AI smartphone market," said Samsung.

Persons: Jakub Porzycki, SK Kim, Apple, Bryan Ma, Ma Organizations: Samsung, Getty, Nurphoto, Samsung Electronics, Korean, South Korean, Daiwa, SK, Apple, International Data Corporation, IDC Locations: Krakow, Poland

☆ Baidu's Ernie AI chatbot to power Samsung's new Galaxy S24 smartphones
▼ + stars: | 2024-01-26 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

Samsung Electronics Co. Galaxy S24 smartphones during a media preview event in Seoul, South Korea, on Monday, Jan. 15, 2024. Samsung, the world's most prolific smartphone maker, is leaning into artificial intelligence as the key to unlocking greater sales this year. Photographer: SeongJoon Cho/Bloomberg via Getty ImagesBaidu AI Cloud will be integrating its Ernie chatbot into Samsung's Galaxy S24 smartphones, allowing users to translate calls in real time, among other features. Ernie is the Chinese tech giant's answer to OpenAI's ChatGPT, a chatbot powered by artificial intelligence technology that's able to generate humanlike responses to users' prompts. Baidu claims it is the "most powerful version of Ernie foundation model to date," with the full capabilities of understanding, generation, reasoning, and memory.

Persons: SeongJoon Cho, Ernie chatbot, Ernie, OpenAI's, Apple Organizations: Samsung Electronics Co, Samsung, Bloomberg, Getty, Baidu, Samsung's, Apple, IDC, Vivo, Huawei Locations: Seoul, South Korea, China

☆ AI hiring frenzy to fuel layoffs in other tech segments as firms strive to balance costs
▼ + stars: | 2024-01-26 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

(Photo by Jakub Porzycki/NurPhoto via Getty Images)As tech firms prioritize investments into artificial intelligence and go on a hiring spree, other segments are likely to see layoffs continue into 2024, according to industry experts. More than 20,000 tech employees have already lost jobs so far in 2024, according to tracker layoffs.fyi. "Google and the rest of Big Tech are betting big on AI while cutting back on non-strategic areas. Layoffs will continue to happen for Big Tech in some areas while the hiring frenzy in AI will be unprecedented as this arms race continues across the tech world," Dan Ives, managing director at Wedbush Securities, told CNBC. Google CEO Sundar Pichai last week warned employees there would be more job cuts this year as the company continues to shift investments toward AI.

Persons: Jakub Porzycki, Dan Ives, Sundar Pichai, Pichai Organizations: Getty, Google, Big Tech, Wedbush Securities, CNBC, Microsoft Locations: Krakow, Poland

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