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☆ Live updates: Israel-Hamas war, Gaza famine, Houthi attacks
▼ + stars: | 2024-01-16 | by ( Chris Lau | ) edition.cnn.com time to read: +2 min

Children cry out for food relief in Rafah, Gaza on December 31, 2023. Rizek Abdeljawad/Xinhua/Getty ImagesIsrael's war in Gaza has brought famine with "such incredible speed," the United Nations’ relief chief told CNN on Monday, as he warned that hundreds of thousands of Palestinians are starving in the besieged enclave. "It's been an extraordinary and holy unwelcome aspect of the Gazan war," he said. Last week, the UN Office for the Coordination of Humanitarian Affairs said Israel had denied critical supplies from entering northern Gaza. "We worry for the security of Israel as much as the security of Gaza," he said.

Persons: Rizek Abdeljawad, CNN's Christiane Amanpour, It's, Israel, Griffiths, Monday Organizations: Getty, United Nations, CNN, UN, Humanitarian Affairs, Emergency, UN Office, Palestinian, of Health Locations: Rafah, Gaza, Xinhua, Israel

☆ Hundreds of thousands are starving in Gaza as famine arrives at ‘incredible speed,’ UN aid chief says
▼ + stars: | 2024-01-16 | by ( Helen Regan | Chris Lau | ) edition.cnn.com time to read: +7 min

CNN —Israel’s war in Gaza has brought famine with “such incredible speed,” the United Nations’ emergency relief chief told CNN on Monday, as he warned that hundreds of thousands of Palestinians are starving in the besieged enclave. Griffiths told CNN Monday that work to provide humanitarian aid to 300,000 Gazans who remain in the north of the strip continues to be a challenge. “People in Gaza risk dying of hunger just miles from trucks filled with food,” said WFP head Cindy McCain. People wait for food relief in the southern Gaza Strip city of Rafah, on December 31, 2023. But the agencies echoed relief chief Griffiths’ warning that humanitarian aid alone cannot reverse the worsening hunger among Gaza’s population.

Persons: CNN —, “, ” Martin Griffiths, CNN’s Christiane Amanpour, “ It’s, ”, Israel, Griffiths, Rizek Abdeljawad, Monday, Cindy McCain, Salwa, ” Tibi, Shadi Bleha, Catherine Russell, ” Russell, Phillipe Lazzarini Organizations: CNN, United Nations, UN, Humanitarian Affairs, Emergency, UN Office, Palestinian, Getty, of Health, Food Programme, UN Children’s Fund, UNICEF, World Health Organization, “, Food Security, IPC, Palestine Refugee Agency Locations: Gaza, Rafah, Xinhua, Israel, Palestine

The Houthis have claimed responsibility for an attack carried out on an American vessel in the Gulf of Aden on Monday. The Yemeni militant group "carried out a military operation targeting an American ship in the Gulf of Aden, with a number of appropriate naval missiles," Brig. Gen. Yahya Saree announced in a live video statement on Monday, adding that the hits were "accurate and direct." The United States Central Command said in a statement earlier that the ship in question, the M/V Gibraltar Eagle, sustained minor damage and did not report any injuries. The Houthis promised that any future strikes on Yemen will not go unanswered.

Persons: Yahya Saree Organizations: United States Central Command Locations: Gulf, Aden, Yemeni, American, Brig, Gibraltar, Yemen

☆ Goldman Sachs says these China stocks can win even if there's a repeat of Japan's lost decades
▼ + stars: | 2024-01-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Goldman Sachs calls the China story today one of "rebalancing," and has picked 40 buy-rated stocks to play the theme. They predict certain consumer names, artificial intelligence companies and rising global players will be among the Chinese stocks that can do well. December data and fourth-quarter GDP due out late Tuesday New York time may give more clues on China's economic trajectory — and whether policymakers need to act. For China's economic outlook, comparisons to Japan may ultimately be more academic as the debate has become more about the extent to which national security has replaced economic growth as the priority. "Very often I'm asked the question, will China ignore development as it talks more about security?"

Persons: Goldman Sachs, Japan's, Kinger Lau, Morgan, Robin Xing, Goldman, Lau, Li Qiang, Liu, SICC, Arthur Kroeber, Dragonomics, Liu Jianchao, Michael Bloom Organizations: Beijing, China Equity, China New Economy Summit, China, New, Invesco, Central Commission, Financial, Economic Affairs, Laboratories, U.S . Food, Drug Administration, U.S, StarPower Semiconductor, Wire China, Communist Party's, Foreign Locations: China, Japan, Hong Kong, Beijing, New York, Davos, Shanghai, U.S, Shenzhen, Europe

The US military launched further strikes on the Houthi rebels in Yemen overnight Friday into Saturday local time, taking out a radar site after striking nearly 30 locations Thursday evening in a joint US-UK effort. US President Joe Biden said he ordered the strikes "in direct response" to the rebels' attacks on commercial shipping vessels in the Red Sea, which the group says are aimed at pressuring Israel into ceasing its heavy bombardment of Gaza. US Ambassador to the United Nations Linda Thomas-Greenfield told the UN Security Council Friday the strikes were intended to "restore stability in the Red Sea," despite repeated warning from the Houthis of retaliation — and fears of the conflict in Gaza further spreading throughout the Middle East. Here's what else you need to know today:

Persons: Joe Biden, United Nations Linda Thomas, Greenfield Organizations: US, Israel, United Nations, UN Locations: Yemen, Red, Gaza

☆ Five-foot Toy Story 3 bear draws the crowds at Costco’s first store in ‘China’s Silicon Valley’
▼ + stars: | 2024-01-13 | by ( Chris Lau | ) edition.cnn.com time to read: +3 min

Costco unveiled its new 44,500-square-meter store in the city often dubbed China’s “Silicon Valley” on Friday, drawing large crowds in search of bargains and imported products. People line up outside the Costco store in Shenzhen, China, during its launch on January 12, 2024. Social media was awash with images of people taking home the giant version of the bear, measuring five feet tall. Lots-o-Huggin' Bear was among the more popular products on offer at the Costco store in Shenzhen during its launch on January 12, 2024. In China, Costco faces intense competition from online shopping platforms, such as Taobao and Pinduoduo, in a market where consumers are accustomed to online retail.

Persons: Costco’s, ” Kim Lin, Lin, ”, Olin Wang Organizations: Hong Kong CNN, Costco, CNN, Social, Sam’s, Walmart Locations: Hong Kong, Shenzhen, China, Shanghai

☆ The US gave the Houthis a final warning. The Iran-backed rebels answered with their biggest-ever missile and drone attack.
▼ + stars: | 2024-01-11 | by ( Jake Epstein | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementUS Navy guided-missile destroyer USS Carney defeats a combination of Houthi missiles and drones in the Red Sea on October 19, 2023. Advertisement"Ongoing Houthi attacks in the Red Sea are illegal, unacceptable, and profoundly destabilizing," the statement read. Retaliatory strikes against the Houthis would not be unprecedented — the Pentagon did so in 2016 following attacks by the rebels — but they would be escalatory. The Houthis, meanwhile, are not the only Iranian proxy group that has clashed with the US since the outbreak of the Israel-Hamas war.

Persons: —, I'm, Antony Blinken, Carney, MCS2 Aaron Lau, Houthi, Mohammed Hamoud, HMS, Grant Shapps, Barbara Woodward, We've, John Kirby, CENTCOM, Biden Organizations: Service, Business, US, Navy, US Navy, Pentagon, Getty, Biden, US Central Command, British, Royal Navy, United Nations, National Security Locations: Yemen, Iran, Washington, Bahrain, American, Israel, Amran, Anadolu, Red, Suez, Tehran, Iraq, Syria

☆ Live updates: Israel-Hamas war, Gaza airstrikes, UN warns of 'apocalyptic' situation
▼ + stars: | 2023-12-05 | by ( Chris Lau | ) edition.cnn.com time to read: +1 min

The situation at the Kamal Adwan hospital in northern Gaza is deteriorating as Israeli troops advance toward the facility, according to journalists in the complex speaking to CNN Tuesday. In an audio message sent from the hospital, journalist Mahmoud Al-Sabbah said the facility was surrounded. Another journalist at the hospital, Anas Al-Sharif, told CNN “the situation is very difficult.”He said there was artillery fire and airstrikes within the immediate vicinity. “The entire medical system has collapsed inside the hospital, and whoever gets injured ends as a martyr inside the hospital,” Al Sharif said. CNN cannot verify the number of casualties at the hospital, where an unknown number of displaced civilians are also taking shelter.

Persons: Kamal, Mahmoud Al, Sabbah, ” Al, Anas Al, Sharif, ” Al Sharif, Yoav Gallant, Kamal Adwan Organizations: CNN, Israeli, Israel Defense Forces Locations: Gaza, Gaza City

Video and witness accounts indicate there have been multiple strikes in the area of Deir al-Balah in central Gaza on Tuesday, with many casualties being taken to the Al-Aqsa Martyrs Hospital. In one video, a blanket appears to be covering a dead body as people at the scene prepare to move the body. "Al Aqsa Martyrs Hospital is the only hospital in the central area and cannot accommodate such a large number of people, especially considering that massacres against our people are still ongoing," he said. "There is a major crisis, particularly because we do not have enough beds, especially in the overcrowded emergency room." Another video filmed in Deir al-Balah shows a Palestine Red Crescent Society ambulance fleeing the scene of nearby artillery fire, according to the aid agency.

Persons: Khalil Al Daqran, Al Daqran Organizations: Aqsa Martyrs Hospital, CNN, Al, Al Aqsa Martyrs Hospital, Red Crescent Society Locations: Deir, Gaza, Aqsa, Deir al, Al Aqsa, Deir Al, Egypt, Rafah

☆ A US Navy warship had to gun down more threats as American forces get pulled deeper into fights being fueled by Israel's war with Hamas
▼ + stars: | 2023-12-04 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

A US Navy destroyer responding to the incidents had to battle off multiple drones during the day. It's the latest example of how American forces are increasingly engaging hostile Iran-backed groups. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. American destroyers like the Carney have shot down scores of drones and missiles launched from Houthi-controlled territory in recent weeks. "And so we will continue to focus on that mission, as well as ensuring that our forces are protected."

Persons: —, Carney, Arleigh Burke, CENTCOM, MCS2 Aaron Lau, Khaled Abdullah Analysts, Washington, Pat Ryder Organizations: US Navy, Service, Hamas, Central Command, Pentagon, Washington Institute for Near East, Missiles, REUTERS, Institute for, Business, Pentagon Press, Air Force Locations: Iran, Red, Yemen, Suez, Israel, Iran's, Tehran, Gaza, Hezbollah, Lebanon, Iraq, Syria, Sanaa, Washington ,, United States, American, Islamic State

☆ Live updates: Israel-Hamas war, Gaza airstrikes, IDF offensive
▼ + stars: | 2023-12-02 | by ( Chris Lau | Andrew Raine | ) edition.cnn.com time to read: +1 min

Samir Hussein/WireImage/Getty ImagesAcclaimed artist Abel "The Weeknd" Tesfaye is providing four million meals to the United Nations World Food Programme (WFP) to help people in Gaza, the UN's body has said. Tesfaye, who is a UN Goodwill Ambassador, has directed $2.5 million from his XO Humanitarian Fund towards WFP humanitarian efforts in Gaza, according to WFP's statement Friday. The WFP didn't indicate when the aid could reach Gaza. His XO Humanitarian Fund, which was established in partnership with WFP USA in 2022, has raised $5 million to date. The first $2.5 million of the fund went to support emergency food assistance to women and children in Ethiopia, and the rest will be allocated to the Gaza response, according to the statement.

Persons: Samir Hussein, Abel, Tesfaye, Corrine Fleisher, ” Organizations: United Nations, Food Programme, UN Goodwill, Fund, USA Locations: London, Gaza, Ethiopia

☆ Chinese hot pot chain Haidilao puts viral dance on menu
▼ + stars: | 2023-12-01 | by ( Chris Lau | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —What is better than a warming meal of hot pot? A catchy dance routine to go with the Chinese cuisine, according to hot pot chain Haidilao. Haidilao, China’s largest hot pot chain, has recently offered a new dance performance as part of the dining experience across its 1,400 branches. It all started with a comment on a local Chinese online forum. And since hot pot is considered a communal experience, the restaurants sometimes offer plush toys as companions for solo diners.

Persons: ”, “, Haidilao, ” Haidilao Organizations: Hong Kong CNN, Jimu, CNN, Staff Locations: Hong Kong, Guangxi, Weibo, Britain

More than 8,000 people, mostly Native Hawaiians, perished at Kalaupapa, including Damien, who eventually contracted leprosy, later called Hansen’s disease. Damien’s love for Kalaupapa’s people was unconditional, said Barbara Jean Wajda of the Sisters of St. Francis of the Neumann Communities. “They keep me like this, make me strong.”She enjoys when people visit and when the church brings pilgrims, she said. The walls of the sisters' house, Kalaupapa’s largest dwelling, are filled with photos of the sisters who worked on the settlement after Marianne. “And we both feel connected to the patients, to the land, to the saints who were here, declared and undeclared,” Wajda said.

Persons: Saint Damien of Molokai, Kalaupapa’s, Damien’s, ”, Lance Toyofuku, ” Kalaupapa, Father Damien, Mother Marianne —, Alicia Damien Lau, Damien, Joseph De Veuster, Saint Marianne, Patrick Killilea, “ Fr, Paddy, “ It’s, Philomena, Barbara Jean Wajda, Francis, Lau, ” Marianne Cope, Marianne, Tonata Lolesio, ” Lolesio, “, Honolulu Bishop Larry Silva’s, Silva, didn’t, that’s, Wajda, Francis Church, she’s, Watanuki, ” Bishop Silva, ” Keani Rawlins, Fernandez, Mother Marianne, Marianne . Lau, Alicia, ” Wajda, ” They’ve Organizations: Toyota, National Park Service, St, Neumann, Sacred Hearts School, Honolulu Bishop, “, Associated Press, Maui County Council, Lilly Endowment Inc, AP Locations: KALAUPAPA, Hawaii, Kalaupapa, Molokai, Belgian, Hawaii’s, Honolulu, Belgium, Germany, Maui, Lahaina, American Samoa, Maui County

☆ Hong Kong’s pro-democracy leaders to give final defense as landmark national security trial nears an end
▼ + stars: | 2023-11-29 | by ( Chris Lau | Nectar Gan | ) edition.cnn.com time to read: +9 min

Those on trial say that plan was simply part of the pluralistic, oppositional politics that has long been permitted in Hong Kong. The Hong Kong government has repeatedly denied the national security law is suppressing freedoms. They hail from multiple generations and a wide political spectrum - from moderate democrats to those who advocate for Hong Kong’s self-determination. Known as “Grandma Wong,” the 67-year-old had been a fixture of Hong Kong’s pro-democracy protests. No national security cases in the city have been heard in front of a jury.

Persons: Hong, ”, Joshua Wong, Benny Tai, Claudia Mo, Alexandra Wong, Grandma Wong, Hong Kong’s, ” Alexandra Wong, Noemi Cassanelli, Gwyneth Ho, Leung Kwok, ISAAC LAWRENCE, John Lee, ” Lee, –, “ Organizations: Hong Kong CNN, Prosecutors, Hong, Kowloon Court, CNN, Getty, Communist Party, city’s, Hong Kong’s Legislative Locations: Hong Kong, Beijing, Hong, Kowloon, Britain, China, AFP, Hong Kong’s

"These measures could boost (earnings) growth and help asset prices recover in 2024," Liu said. As per the forecasts, the consumer staples and software sectors are set to post earnings growth of 40% and 30%, respectively. The consumer discretionary and industrial sectors are each expected to see roughly 20% growth, while the real estate sector may grow 18%. Such stable or growth-centric government policies would also boost investor confidence in the e-commerce and consumer sectors, Lau added. Maurer, however, points to how cheap Chinese stocks are and that the risks might already be priced in.

Persons: Minyue Liu, Liu, John Lau, Lau, Alec Jin, Jin, Caroline Yu Maurer, Maurer, Patturaja Murugaboopathy, Vidya Ranganathan Organizations: BNP, Management, Asia Pacific, SEI, Reuters, Reuters Graphics, Stock Connect, HSBC Asset Management, Thomson Locations: Asia, China, Shanghai, U.S

☆ Live updates: Israel-Hamas war, Gaza truce, hostages and prisoners released
▼ + stars: | 2023-11-26 | by ( Chris Lau | ) edition.cnn.com time to read: +1 min

"This is a day of enormous joy and relief for Emily Hand and her family. An innocent child who was lost has now been found and returned, and we breathe a massive sigh of relief. Hand had been at a friend's house in the kibbutz of Be’eri when Hamas militants attacked on October 7. On Sunday, the Israeli military released video of Emily being reunited with her father, Thomas Hand, after she was freed with other Israeli hostages on Saturday. In an emotional reunion, Emily can be seen dashing toward her father and the two hug each other tightly.

Persons: Emily Hand, Thomas Hand, Leo Varadkar, Varadkar, Emily Organizations: Israel Defense Forces, Reuters Irish Locations: Israel, Irish, Be’eri, Gaza

☆ Confidence in the crypto industry is rising but we're not back to 2021 levels, analyst says
▼ + stars: | 2023-11-23 | 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 EmailConfidence in the crypto industry is rising but we're not back to 2021 levels, analyst saysOwen Lau, executive director and senior analyst at Oppenheimer, discusses the outlook for the cryptocurrency industry and events surrounding Binance CEO Changpeng Zhao's decision to step down after pleading guilty to federal criminal charges.

Persons: we're, Owen Lau, Oppenheimer, Changpeng

☆ Goldman Sachs expects China stocks to make first annual gain in 4 years in 2024
▼ + stars: | 2023-11-22 | by ( Clement Tan | ) www.cnbc.com time to read: +4 min

"Our view is very clear," Kinger Lau, Goldman Sachs chief China equity strategist, told CNBC's "Squawk Box Asia" on Tuesday. China rebalancingWith just under six weeks of the year remaining, the MSCI China and CSI 300 indexes are both poised for third-straight annual losses. Goldman Sachs noted both mutual and hedge fund mandates globally are running with multi-year low allocations in Chinese stocks. Key changesIn their latest outlook paper, Goldman Sachs strategists upgraded the food and beverage sector to overweight from market weight and technology hardware sector to overweight from underweight. Real estate has been a key driver of the downturn in the Chinese economy after Beijing started cracking down on the debt levels of mainland developers in 2020.

Persons: Goldman Sachs, Kinger Lau, CNBC's, it's, Lau Organizations: Getty, 20th Central Committee, Chinese Communist Party, CSI Locations: Beijing, China

☆ Restaurant chain Tam Jai International expects Hong Kong growth momentum to continue
▼ + stars: | 2023-11-22 | 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 EmailRestaurant chain Tam Jai International expects Hong Kong growth momentum to continueTam Jai International CEO and Chairman Daren Lau says the restaurant chain's "comfort food" is less prone to fluctuating demand stemming from Hong Kongers' overseas travel patterns.

Persons: Tam, Daren Lau, Hong Kongers Organizations: Tam Jai, Tam Jai International Locations: Hong Kong

☆ Meet the vintage toy collectors that have turned their hobby into an investment opportunity
▼ + stars: | 2023-11-21 | by ( Lin Lin | ) www.cnbc.com time to read: +3 min

Lau started selling vintage figurines with his friends on Sundays in 2005 while working a full-time job as a technician. While traditional investments such as stocks and real estate are more common, some people view vintage toys as a unique, fun, and potentially profitable asset class. Figurine collector Dennis Pek CNBCHe told CNBC he only resells to reorganize and update his collection. "I have probably invested about $80,000 on my collection, but I do it mostly because I love it," he told CNBC. Chang told CNBC about the generational shifts in collecting preferences he has observed.

Persons: Lau, Dennis Pek, collectables, Chang Yang Fa, Chang Organizations: SINGAPORE —, CNBC, Power Rangers, MINT Museum of Toys, MINT Museum of Toys CNBC Locations: Singapore

☆ Goldman Sachs strategist discusses China's equity outlook for 2024
▼ + stars: | 2023-11-21 | 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 EmailGoldman Sachs strategist discusses China's equity outlook for 2024Kinger Lau, chief China equity strategist at Goldman Sachs, discusses the firm's underweight position on China property and banks, and its overweight position on tech and services.

Persons: Goldman Sachs, Kinger Lau Locations: China

☆ Ahead of Indonesia’s elections, critics slam Jokowi for nepotism and ‘dynastic politics’
▼ + stars: | 2023-11-20 | by ( Nyshka Chandran | ) www.cnbc.com time to read: +7 min

Ulet Ifansasti | Getty Images News | Getty ImagesA year before stepping down as Indonesia's president, Joko Widodo is facing serious allegations of establishing a political dynasty through nepotism. The constitutional court, which was helmed by the president's brother-in-law Anwar Usman at that time, was widely criticized for changing the law, which enabled Jokowi's son to contest the election. Kompas Research and DevelopmentAccording to a poll in mid-October by Kompas Research and Development, 60.7% of respondents consider the participation of Jokowi's eldest son Gibran in the election as a form of dynastic politics. Son-in-law, Bobby Nasution Adding to Jokowi's political chessboard is also his son-in-law Bobby Nasution, the current mayor of Medan. The 'Jokowi effect'Analysts are now expecting what they call "a Jokowi effect" for the PSI and Gerindra parties.

Persons: Joko Widodo, Ulet Ifansasti, Joko, Gibran Rakabuming Raka, Prabowo Subianto, Gibran, Anwar Usman, Anwar, Kompas, Kaesang, Kaesang Pangarep, Bobby Nasution, Julia Lau, – Yusof, Jokowi's, Andi Widjajanto, Andi, Jokowi, Vedi Hadiz, Iriana Widodo, Gibran Rakbuming Raka, Lau, bode, Julia Lau ISEAS – Yusof Ishak, didn't, ISEAS – Yusof Organizations: Getty, Defence, Gerindra Party, Solo, Research, Kompas Research, Development, Indonesia Solidarity Party, PSI, Indonesia, Reuters, National Resilience Agency, Asia Institute, University of Melbourne, Afp, CNBC, Asia, Central Java, Indonesian Democratic Party of Locations: Jakarta, Indonesia, Ulet, Medan, Jokowi, Central Java, Afp, Southeast Asia, Ganjar

☆ Philippines bans American traveler for life, accusing him of writing profanities on immigration form
▼ + stars: | 2023-11-17 | by ( Chris Lau | ) edition.cnn.com time to read: +3 min

CNN —The Philippines has banned for life an American traveler whom it accused of writing “profane words” on a digital immigration form and being rude to immigration officers. Anthony Laurence, 34, was refused entry and put on a blacklist permanently following his allegedly “disrespectful” behavior, the Philippine Bureau of Immigration Commissioner Norman Tansingco said in a statement last week. Laurence, who told CNN he is a property investor who lives in the country intermittently, disputes the immigration authority’s account. He did not respond to CNN’s questions about what he wrote on the form and whether it included any profanities. But he said, “I immediately apologized and the immigration officer wasn’t interested.”“I even hand-wrote an apology to the immigration officer which he wasn’t interested in as well,” Laurence added.

Persons: Anthony Laurence, Norman Tansingco, Laurence, ”, Tansingco, “, wasn’t, ” “, ” Laurence Organizations: CNN, Philippine Bureau of Immigration, Ninoy Aquino, Airport, Air, Cebu – Locations: Philippines, Manila, Bangkok, Thailand, Air Asia, Philippine, Cebu

☆ Tencent says it stockpiled Nvidia AI chips but seeks Chinese replacements
▼ + stars: | 2023-11-16 | by ( Michelle Toh | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Tencent rushed to build up “one of the largest inventories of AI chips in China” before US export restrictions took hold, an executive said Wednesday. It is one of the chipmaker’s advanced AI chips designed for use in data centers, the physical facilities used to store troves of electronic information. In late October, Nvidia disclosed that the just-announced restrictions had come into effect “immediately,” weeks earlier than scheduled. “Going forward, we will have to figure out ways to make … the usage of our AI chips more efficient,” namely by working to retain most of the company’s high-performance chips for training the model, he added. The bot was developed specifically for corporate users, allowing them to catch up on meetings by viewing automated summaries or put together documents more efficiently, Lau told analysts.

Persons: Hong Kong CNN — Tencent, Martin Lau, ”, ” Lau, Tencent, “, Biden, Kai, Fu Lee, Lau Organizations: Hong Kong CNN, Nvidia, Bloomberg, Sinovation Ventures, Huawei, Center for Strategic, International Studies, Semiconductor Manufacturing International Corporation Locations: China, Hong Kong, China ”, United States, Beijing, Washington, Shenzhen

☆ Tencent shrugged off a new US AI chip ban, saying it's stockpiled enough Nvidia processors for 'a couple more generations'
▼ + stars: | 2023-11-16 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

Tencent president Martin Lau said on Wednesday the company is holding a vast stockpile of chips. Its inventory is enough to last its AI development a "couple more generations," Lau said. The US issued a new AI chip export ban to China in October, sparking fears that Tencent could be hit. But Lau also said Tencent will eventually have to pivot toward China-made AI chips. "Going forward, we have to figure out ways to make usage of our AI chips more efficient," Lau said.

Persons: Martin Lau, Lau, —, Tencent, Biden Organizations: US, Service, Nvidia, Baidu, Financial Times Locations: China

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