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Oracle posts 30% revenue growth fueled by AI cloud demand as debts hits $125 billion

Oracle's cloud infrastructure revenue jumped 121% from a year earlier, reflecting demand for AI cloud services.

Dell stock jumps on RBC initiation, now up nearly 350% in 2026

Dell sold about $16.4 billion of AI servers in its second quarter, RBC said.

Altimeter's Gerstner blasts researchers voicing AI extinction warnings, questions 'political agenda'

Brad Gerstner responded to the flurry of AI stories this week after a researcher quit his job at Anthropic, accusing AI companies of "gambling with our lives."

AI regulation calls grow in DC after researcher's extinction warning

Members of Congress are calling for AI regulation after a researcher warned that OpenAI and Anthropic are acting irresponsibly.

OpenAI targets work of Wall Street junior bankers with new ChatGPT for Financial Services

OpenAI launched ChatGPT for Financial Services, targeting the labor-intensive research, modeling and pitchbook tasks traditionally handled by junior bankers.

UK government rejects 'kill switch' idea for dangerous AI

The Cabinet Office, which leads on AI safety, says the UK "cannot simply turn AI off".

Coinbase CEO says clearer U.S. crypto rules are coming — with or without Senate approval

Coinbase CEO Brian Armstrong says U.S. crypto regulation could move forward regardless of the outcome of the Clarity Act.

Trump dismisses AI extinction risks as more than a dozen OpenAI, Anthropic insiders call for a slowdown

Trump said he isn't concerned AI could cause human extinction as researchers at leading AI companies warn about rapid advances and lawmakers propose safeguards.

The iPhone Duo enters China’s crowded foldable market — and faces a price test

Chinese netizens focused on the price of Apple’s iPhone Duo, as cheaper Xiaomi and Huawei foldables raise value comparisons and muddle the foldable's reception.

CPI report, Oracle earnings, Trump’s cash promises and more in Morning Squawk

Here are five key things investors need to know to start the trading day.

Does this AI comic make you laugh?

Comedian Garrett Millerick has created an AI avatar based on his own material. Is it any good?

Chinese optical transceiver makers dodge US ban for now as FCC updates rules

The US Federal Communications Commission (FCC) has published its final decision on updates to its equipment authorisation rules, easing market anxiety over potential bans on Chinese optical transceivers. The rule, adopted in July and finalised on Friday, tightens authorisation requirements for devices containing certain hardware components made by entities on the Covered List – a US blacklist of foreign technology equipment and service providers deemed to pose an unacceptable risk to national...

Why Sweden, once one of Beijing’s most outspoken critics in Europe, has changed its tune

Millions of Swedish voters head to the polls on Sunday to elect a new parliament. Whatever the outcome, analysts say, the country is likely to look more towards Beijing for its technology edge and to diversify away from an increasingly unreliable Washington, despite persisting challenges in China-EU trade. “Many factors right now suggest that relations between Sweden and China will change in the long term – not necessarily directly linked to the elections – because I see more Swedish businesses...

Why fears of AI self-improvement are causing ‘existential’ concerns at Anthropic and OpenAI

AI researchers are warning that faster AI self-improvement could eventually make advanced systems harder for humans to control.

Ant to let AI agents shop via 10 digital wallets, from AlipayHK to Starryblu to KakaoPay

Ant International, the overseas affiliate of Chinese fintech giant Ant Group, is making a major bid to power the next phase of mobile payments: letting autonomous artificial intelligence agents handle your electronic wallet to make purchases. The company on Friday open-sourced its Agentic Mobile Protocol (AMP) on GitHub, effectively putting it forward as a potential global technical standard for how AI agents securely pay for real-world goods. AMP was built onto Ant International’s existing...

Mainland Chinese investors to drive Hong Kong wealth boom despite new tax rules: report

Hong Kong banks expect the contribution of mainland Chinese investors to the city’s wealth management business to continue to grow through 2030, presenting opportunities despite Beijing’s tightened cross-border tax rules. Mainland China’s share of local assets under management was projected to reach 68 per cent from 59 per cent within five years, according to a report released by the Hong Kong Association of Banks (HKAB) and Deloitte China on Friday. The report surveyed 147 member banks in the...

Anthropic blocks possible attempt to use AI to make biological weapons

The revelations in Anthropic's threat intelligence report come after a former top researcher at the company warned of the risks of AI to humanity.

Why AI experts are ‘freaked out’ over safety fears ahead of Xi-Trump summit

A flurry of cybersecurity breaches, internal whistle-blowing, and declining visibility into model safety has sparked fresh alarm over the US artificial intelligence boom, igniting calls from some experts to slow down development – even as critics warn that deceleration risks surrendering America’s technological lead to China. The mounting concerns come just weeks before President Xi Jinping and US leader Donald Trump are set to meet for a high-stakes summit in Washington. OpenAI CEO Sam Altman...

With novel chip in Huawei phone, China heads for computing reset

The future of computing has arrived, according to China’s Huawei Technologies. The Shenzhen-based technology giant’s launch this week of the Mate XT 2 smartphone, its first commercial product powered by a processor with a novel architecture, is a public test of the Chinese tech giant’s claim to have invented a new chip design paradigm. It is also its first step to rewiring artificial intelligence (AI) infrastructure. The phone’s chip, the Kirin 9050 Pro, is the first designed according to the...

Y Combinator’s Garry Tan says 'do nothing' about distillation as AI giants accuse China of copying their tech

At Y Combinator’s annual Demo Day, CEO Garry Tan explained why he's less concerned about frontier AI model distillation and the existential risk of AI.

Enflame shares soar 179% in Shanghai debut as Nvidia challenger taps investor fever for AI

Enflame Technology, one of the major challengers to Nvidia in China, saw its share price surge 179 per cent in its Shanghai trading debut on Friday, giving the Tencent Holdings-backed artificial intelligence chipmaker a market capitalisation of 170.9 billion yuan (US$25.5 billion). The Shanghai-based company opened at 410 yuan, up from its issue price of 142.18 yuan. It surged as much as 234 per cent to 475 yuan during the day, before closing at 397 yuan. The performance reflects continued...

Chinese AI labs secretly used millions of Claude exchanges to train their models, Anthropic says

Anthropic said it detected unauthorized efforts by China-based AI labs including Alibaba and Moonshot AI to use its Claude models to help improve their own AI systems.

Can Europe recharge its battery industry?

Europe has some promising battery tech, but can it make up ground lost to Chinese battery giants?

Oracle's stock edges up on earnings beat as cloud infrastructure revenue more than doubles

Oracle's results for the quarter came in stronger than expected, as did its revenue backlog.

Humans need to 'surf the wave' of AI rather than get swallowed by it, Chesky says at Communacopia

Nvidia CEO Jensen Huang, Uber CEO Dara Khosrowshahi, and SpaceX CFO Bret Johnsen are set to speak at the Goldman Sachs Communacopia + Technology Conference.

Here’s a rapid-fire update on our 33-stock portfolio, including Cramer’s 6 favorites to buy

Jim's current faves include three tech names and a bank stock.

Elon Musk's Boring Co. turns to Middle East for expansion in reaching $23 billion valuation

The Boring Co.'s latest $3 billion financing round was led by the United Arab Emirates.

Amazon gives OpenAI's ad business a boost, letting its advertisers into ChatGPT

Amazon has been hesitant to open its sprawling webstore to external AI platforms.

Our top 3 stocks that bucked the market’s recent pullback — plus, a look at the bottom 3

Here's a look at what moved our best and worst performers over the past four weeks.

Apple makes biggest change to iPhone release cadence in 7 years in Ternus' first showcase as CEO

In John Ternus' first launch event as CEO, Apple announced its first foldable phone and the iPhone 18 Pro.

AI bottleneck-breaker: China’s Huawei touts high-speed optical module

Huawei Technologies has unveiled a high-speed optical module designed to eliminate bottlenecks in artificial intelligence infrastructure, staking an early claim in the race to set standards for next-generation data centre connections. The Shenzhen-based tech giant showcased what it called the industry’s first 7.2-terabit-per-second (Tbps) near-packaged optics (NPO) product at the China International Optoelectronic Exposition (CIOE) in Shenzhen this week. The technology replaces traditional...

Apple's foldable phone, Macy's earnings, Treasury buybacks and more in Morning Squawk

Here are five key things investors need to know to start the trading day.

Nasdaq invests $100 million in Kraken parent, eyeing 2027 launch of 'tokenized' stock trading

Nasdaq is making a big bet that tokenization of stocks and other assets are becoming part of the plumbing of the stock market.

'Extinction' warnings ramp up as more OpenAI, Anthropic researchers join calls for an AI slowdown

There is growing concern globally about the capability of AI, following numerous cyberattacks and security incidents in recent months by rogue models

Ryanair CEO says to brace for a 'significant uplift' in airfares as oil prices soar

Ryanair's CEO warned airfare prices may see significant hikes as the surging cost of jet fuel continues to squeeze the airline industry.

DeepSeek says new Flash AI model beats Kimi K3 on cyber, coding benchmarks

DeepSeek has released its V4.1 Flash model, claiming it outperforms its previous flagship while cutting inference costs and boosting speeds – the latest salvo in China’s aggressive price-and-performance war. The Chinese artificial intelligence developer said on Thursday that V4.1 Flash used a new “Causal-Encoder-Decoder” architecture. While built on a massive 552 billion-parameter framework, it relies on a Mixture-of-Experts (MoE) design. In traditional AI, every query runs through the entire...

Kimi maker Moonshot AI to explore dual Hong Kong and Shanghai IPOs to boost capital: sources

Chinese artificial intelligence start-up Moonshot AI, developer of the popular Kimi K3 model, may explore options for dual listings in Hong Kong and Shanghai in pursuit of greater capital and exposure, according to two people familiar with the matter. Since a meeting with its financial backers in July, when the Beijing-based company negotiated detailed arrangements for an initial public offering in Hong Kong, it has hinted at options to also list on a mainland bourse afterwards, one source...

Apple enters a crowded foldable smartphone market in China – can it beat Huawei?

Apple’s long-awaited entry into the foldable smartphone market, the iPhone Duo, has drawn immediate attention in China over its eye-watering price tag and exclusive dual-eSIM design, as the American tech giant targets entrenched domestic rivals Huawei Technologies and Xiaomi. Unveiled on Wednesday, the iPhone Duo – Apple’s thinnest and most expensive flagship model yet – captured the attention of Chinese consumers with its smooth transition between inner and outer displays. By Thursday morning,...

World’s largest contract chipmaker TSMC sees August revenue surge over 53% to record high

TSMC reported monthly sales revenue for August on Thursday.

After Apple’s launch of its foldable iPhone, what are the caveats for Chinese buyers?

Apple unveiled the iPhone Duo, its first-ever foldable smartphone, at its annual product launch event on Wednesday in Cupertino, California, following months of mounting anticipation. Presented by CEO John Ternus, the sleek, passport-style device stole the spotlight at the Apple Park event. Ternus, who took over from Tim Cook on September 1, said the handset would “redefine the experience of using a foldable phone”. Starting at US$1,999 – or HK$17,499 (US$2,231) if bought in Hong Kong – Apple’s...

Samsung works to draw iPhone users to its foldables even as Apple enters the market

Samsung is drawing more iPhone users to its foldables as Apple’s rumored entry threatens to reshape the market.

UK needs new laws for AI in healthcare, says watchdog

The technology will soon be routinely used within the NHS, MHRA chief Lawrence Tallon tells the BBC.

$100 oil isn't turning Cramer bearish on stocks. Here are 3 reasons why

CNBC's Jim Cramer said he’s not ready to turn bearish despite mounting pressure from $100 oil and signs that higher gasoline prices are weighing on consumers.

Amazon adds cybersecurity veteran Kevin Mandia to board 2 years after he left Google

Amazon said Kevin Mandia, the founder and former CEO of cybersecurity company Mandiant, is joining its board of directors.

Conversations from Goldman Sachs' Communacopia: AI blowback, broadband and Disney's free tier

CoreWeave CEO Mike Intrator spoke to CNBC at the Goldman Sachs' Communacopia + Technology Conference this week.

Silver Lake to merge two software firms in $11.6 billion bet on AI

French firms Cegid, which sells business management software, and Silae, a payroll and HR platform, are set to combine.

Google picks Finland for its largest single investment in Europe

The US tech giant says the €13bn data centre project will create tens of thousands of jobs.

Anthropic researcher believes more than 10% chance AI 'could kill all humans'

It is the latest in a series of increasing warnings about the safety threat posed by artificial intelligence.

Robinhood CEO says companies can't control how their stock is tokenized as AMC clash escalates

Robinhood's Vlad Tenev said public companies can’t control financial products built around their stock while acknowledging token holders don’t get voting rights.

Chinese AI firm DeepSeek taps underwriters including Citic Securities for IPO: sources

Chinese frontier artificial intelligence lab DeepSeek has hired underwriters including Citic Securities in preparation for a domestic initial public offering (IPO), according to two people familiar with the matter. Citic Securities was one of the four underwriters tapped by the Hangzhou-based firm, which aims to begin the IPO process this year to list on the Shanghai Stock Exchange’s Nasdaq-like Star market, the people said, asking not to be identified as the information was private. DeepSeek...

White House pulls Tetris-style 'Build The Wall' game after copyright concern

The Tetris Company says it takes "copyright infringement very seriously" and is not involved with the game.

Alibaba sends AI ‘digital employees’ to work in rival apps from ByteDance, Tencent

Alibaba Group Holding is giving users the ability to put artificial intelligence-powered “digital employees” to work within rival office platforms, opening a new competitive front against ByteDance and Tencent Holdings in enterprise AI. The latest version of the QoderWake tool, launched by Alibaba Cloud on Tuesday, allowed users to generate fully functioning workers using a single-line description of the required role, the company said. These digital workers could then be put to work within any...

Huawei’s new chip philosophy gets run out with debut smartphone

Huawei Technologies introduced the first smartphone fitted with LogicFolding processors after addressing concerns about a new chip-design approach at least partly driven by US sanctions. The 19,999 yuan-plus (US$2,980-plus) Mate XT 2 trifold smartphone uses Kirin 9050 Pro chips designed by Huawei’s HiSilicon unit, the company said at a launch event on Monday. The phone is also the first device to run on HarmonyOS 7, the latest version of Huawei’s self-developed operating system. Using the new...

Insurers Prudential, Manulife seal tech alliances amid Beijing’s tightened tax rules

Several Hong Kong insurance companies, including Prudential, Manulife and BOC Life, are racing into cross-sector alliances from artificial intelligence underwriting to healthcare tie-ups to strengthen capabilities and efficiency amid China’s tightened cross-border tax rules. Prudential announced a partnership with Alibaba Cloud to launch an AI underwriter, designed to help financial consultants make preliminary decisions based on a client’s financial situation, medical record, occupation and...

US firm used AI to hijack WeChat account, spurring call for cyber cooperation with China

US cybersecurity researchers have demonstrated how artificial intelligence could help hijack WeChat accounts via unanswered voice calls, intensifying concerns about AI-driven cyber threats and prompting renewed calls for bilateral cooperation between the United States and China. US security firm Calif said on Tuesday that its AI system identified a critical flaw in Tencent Holdings’ widely used messaging and payments app in July. In just a little over a week, researchers developed WeWorm – an...

Chinese energy firms warn policy volatility complicates long-term expansion abroad

Chinese energy firms have called for policy stability in overseas markets as their global investments face mounting geopolitical risks amid headwinds from the oil crisis. The call came from Sungrow Power Supply and EVE Energy executives, who said policy stability topped their expectations at an event in Hong Kong on Tuesday. Both companies have come under fresh pressure in the US market in the past two months. Sungrow, the world’s second-largest energy storage system maker, was hit by a US...

China’s five-year plan for the information and communications sector

China unveiled its five-year development plan for the information and communications industries for the years 2026 through to 2030. The blueprint, released by the Ministry of Industry and Information Technology on Monday, lays out 13 key targets as part of a broader revamp of the sector by 2035, when the country is expected to “basically achieve socialist modernisation”. It includes plans to grow the sector’s revenues to 4.1 trillion yuan (US$610 billion). Below are its key points: See below...

Amid China’s AI shift, JD.com bets on 3 million robots to automate logistics

Chinese e-commerce giant JD.com is accelerating its push into robotics with a sweeping plan to automate its nationwide logistics network, while promising to retrain its vast workforce of couriers for technical roles as machines take over frontline duties. At an event in Beijing on Wednesday, the company’s logistics arm unveiled its industrial Wolf Robot series. Over the next five years, JD Logistics aimed to procure 3 million robots, 1 million unstaffed vehicles and 100,000 delivery drones to...

Meta continues to run ads promoting child sexual abuse material in India - report

The report follows a BBC Eye investigation that found Instagram running paid ads promoting such material in India.

Should promotion depend on how workers use AI?

More companies are tying career progression to AI use: is that fair?

OpenAI says it cracked 90-year-old maths problem in 88 hours

OpenAI's claim that it solved parts of Navier-Stokes equations has quickly stirred controversy.

Tech Life

Scammers demand money from Instagram users over fake copyright claims.

New law to force tech firms to stop children taking or sharing nude images

The government said it will legislate "as soon as they can" but may "reassess" its plans if firms make the desired changes sooner.

Chinese AI firms Z.ai and MiniMax could remain loss-making until 2030, Macquarie says

Chinese artificial intelligence companies Z.ai and MiniMax could remain loss-making through 2030 even as their revenues surge, underscoring the enormous cost of competing at the technological frontier, according to Macquarie Group’s head of Asia internet and software research Ellie Jiang. One reason cited was the expense required for the computing power to train and run frontier AI models. Jiang told the South China Morning Post on Tuesday that China’s compute crunch was two to three times more...

Eager capital prompts IPO plans for more Chinese makers of brain-computer interfaces

A handful of home-grown Chinese companies involved in brain computer interfaces (BCIs) are moving towards initial public offerings (IPOs) on onshore markets, taking advantage of the sector’s status as a new darling of private capital. The trend fits into a broad pattern of hi-tech firms flocking to list on the Shanghai Stock Exchange’s Nasdaq-style Star Market. Among the BCI hopefuls, Shanghai-based Arfysica Innovation is the latest to register for IPO coaching for a Star Market listing,...

Scammers demand ransoms from Instagram users over fake copyright claims

Users say they are losing money or risk having their accounts suspended because Meta struggles to identify scammers.

DeepSeek embarks on ‘unprecedented’ hiring spree as it overhauls back end systems

Chinese artificial intelligence start-up DeepSeek is embarking on what it calls an “unprecedented” hiring spree to overhaul back end systems severely strained by booming user demand and compute-heavy AI agents. Cui Tianyi, a former quantitative trading expert who joined DeepSeek in March to lead its Harness team, said in a social media post on Monday evening that the Hangzhou-based company was seeking to recruit around 150 senior back end engineers. According to Cui, the push was driven by rapid...

China targets fourfold boost in AI computing capacity by 2030 in major tech push

China plans to deploy artificial intelligence computing clusters containing 100,000 accelerator cards and sharply expand the country’s intelligent computing capacity over the next five years, as Beijing steps up investment in the infrastructure underpinning its AI ambitions. The Ministry of Industry and Information Technology (MIIT), in a five-year industry plan released on Monday, set a target of 9,800 eflops of intelligent computing capacity by 2030, and called for 3.8 trillion yuan (US$532...

From BYD cars to DJI drones, Guangdong showcases tech prowess ahead of Apec summit

As China’s southern tech hub Shenzhen gears up to host November’s Asia-Pacific Economic Cooperation (Apec) summit, its province, Guangdong, is making sure its technological prowess is also receiving global attention. At Saturday’s Asia-Pacific Media Forum, a major media gathering before the summit, a hall was packed with hi-tech products from the province, including a BYD car, DJI drones and Tencent Holdings’ artificial intelligence products, as well as smartphones from Honor and Vivo. Before...

Huawei’s new Kirin chip puts LogicFolding to the test, with bigger ambitions in AI

Huawei Technologies’ latest flagship mobile processor is serving as a high-stakes test of whether the company can bypass US technology sanctions by layering circuits on top of each other to boost performance, according to analysts. The Shenzhen-based firm on Monday launched the Kirin 9050 Pro, the first commercial chip employing its LogicFolding architecture. The new strategy aims to squeeze greater computing power out of semiconductor designs without relying solely on the circuit-shrinking...

China’s Xiaomi unveils folding phone with home-grown chip as it takes on Apple, Huawei

Xiaomi unveiled a series of new products on Monday – from a flagship foldable phone featuring proprietary chips to new models of its premium Skynomad SUV – underscoring the Chinese giant’s intensified push to compete against rivals including Tesla, Apple and Huawei Technologies. Beijing-based Xiaomi launched the 18 Fold, a foldable phone featuring a 7.58-inch inner display, a proprietary Xring O3 system-on-chip (SoC), and LPDDR6 memory chips from ChangXin Memory Technologies (CXMT), said Lei...

Why Tencent is swapping Bilibili equity for debt, and what AI has to do with it

Tencent Holdings’ pivot from a core shareholder to a major creditor in Bilibili offers a clear window into how China’s Big Tech players are rebalancing portfolio risk while funding expensive artificial intelligence initiatives. The shift, executed through Bilibili’s proposed US$700 million convertible bond package announced on Friday, allows Tencent to lock in capital flexibility without severing ties with one of China’s largest online video platforms, according to analysts. Here is a look at...

Huawei unveils new trifold smartphone powered by Tau Scaling Law-based Kirin chip

Huawei Technologies has unveiled its first smartphone powered by a next-generation mobile processor based on the company’s proprietary Tau Scaling Law, continuing its push to boost chip performance while reducing reliance on advanced foreign semiconductor equipment. Speaking at a launch event in Guangzhou on Monday, Richard Yu Chengdong, chairman of Huawei’s consumer business group, described the Kirin 9050 Pro as the company’s “most powerful Kirin chip ever”. The processor is based on Huawei’s...

China’s Moonshot and Z.ai bring AI model subscription race to Tmall’s retail shelves

China’s artificial intelligence developers are competing for paying users on a new consumer front: Alibaba Group Holding’s Tmall, where AI subscription plans are now being sold alongside smartphones, skincare and luxury fashion brands. Moonshot AI, developer of the Kimi K3 model, and MiniMax were in talks to open official flagship stores on the e-commerce platform, people familiar with the matter told the South China Morning Post on Monday. The move comes as AI developers look for new channels...

HSBC-backed platform drives green transition capital to emerging markets amid global risks

HSBC has teamed up with partners to launch a non-profit platform to help emerging markets in upgrading their technology and shifting from oil and coal to renewable energy, according to a senior executive at the lender. The Green Accelerator Programme, rolled out on Monday with backing from HSBC, the Asian Infrastructure Investment Bank, the Silk Road Fund and others, will channel private capital into feasibility studies and due diligence for emerging-market companies and governments adopting...

How generative AI helps SenseTime turn a profit even as Chinese peers struggle

Chinese artificial intelligence pioneer SenseTime is carving a unique path to profitability by steering away from a blind chase for model size, focusing instead on helping clients complete enterprise tasks, executives from the firm told the South China Morning Post. Speaking after the firm reported a net profit of 617.3 million yuan (US$92.0 million) for the first half of 2026 last week, executives including CEO Xu Li and chief financial officer Wang Zheng outlined how a pivot towards AI...

Hong Kong broadens sustainable finance taxonomy framework to boost transition capital

Hong Kong unveiled an expanded sustainable finance taxonomy as the city kicked off its annual Green Week on Monday, broadening the range of economic activities recognised as green or transition. The Hong Kong Monetary Authority (HKMA) launched a public consultation on the Phase 2B prototype of its Hong Kong Taxonomy for Sustainable Finance, adding 10 activities across transportation, manufacturing and waste management. Together with the reclassification of existing categories, the...

Punching above their weight: how China’s AI giants stretch each dollar in compute race

The massive gap in artificial intelligence spending between US and Chinese tech titans may not buy the advantage expected for American giants, as lower domestic costs and heavy state support allow Chinese firms to secure far more computing power per dollar, according to a new report by Moody’s Ratings. While US hyperscalers outspent their Chinese counterparts by a staggering margin, the physical gap in computing capacity was nowhere near as wide as those mega-budgets suggested, the report...

Huawei paper shows Tau Scaling Law chip solves overheating ahead of Kirin 2026 launch

Huawei Technologies has released a new research paper showing its Tau Scaling Law-based semiconductor architecture can avoid overheating, which analysts view as a key technical hurdle for its anticipated Kirin 2026 smartphone chip. The paper, authored by He Tingbo, chairwoman of the Huawei Scientist Committee and president of the company’s semiconductor business department, rebutted scepticism that vertically stacking logic circuits would create an insurmountable thermal bottleneck. It was...

Why Chelsea football shirts are making Hong Kong fans nervous about crypto laws

English Premier League football club Chelsea’s lucrative new front-of-shirt sponsorship deal with a stablecoin issuer has left Hong Kong fans and retailers concerned about whether wearing or selling the top counts as illegal promotion under digital currency laws. Chelsea signed the deal with Circle to feature its USDC stablecoin brand on player jerseys for the 2026-27 season in late August, just three months after the UK’s Financial Conduct Authority (FCA) warned Premier League clubs about...

New reality for China’s entertainment sector as AI drama goes prime time

From low-quality “slop” such as soap operas starring humanlike cats and dating shows featuring anthropomorphic fruit, to increasingly slick productions realistic enough to pass for live action, artificial intelligence-generated video dramas have become almost inescapable on Chinese social media feeds. This week, the format graduated to prime time. A fully AI-generated adaptation of the classic Chinese novel Journey to the West debuted on Hunan Satellite Television, a major state-owned...

Tech Now

Laura Cress has the highlights from Gamescom, the biggest gaming convention in the world.

Talk is growing of a Tesla-SpaceX merger. Will geopolitics throw a spanner in the works?

One by one, Tesla Model Y Ls roll out of the company’s end-of-line inspection bays, gleaming in black, white and gold. They are a mix of left-hand and right-hand drive – one of many signs the electric vehicles (EVs) produced here are destined for ports around the world. The company touts a total assembly time of less than 40 seconds at its sprawling Gigafactory in Lingang, a coastal area on the far southeastern edge of Shanghai. From there, Tesla says, a finished car can reach the port and be...

What Sputnik couldn’t do to American science, Beijing has

The US government owns 9.9 per cent of Intel, converted out of US Chips Act grants, alongside a golden share in US Steel, US$400 million in the rare earth mining firm MP Materials and stakes in roughly 30 firms worth US$26.7 billion. In 2025, Nvidia and AMD gave up 15 per cent of their China chip sale revenues in exchange for export licences. The country that spent four decades advising its allies against picking winners now runs a portfolio. The United States has not fully turned to state...

Robot guide dog debuts in China amid severe lack of furry counterparts

A Chinese defence industry research facility has unveiled what it calls the world’s first wheeled and legged robot guide dog for visually impaired people, in an example of the sector’s push into a growing range of civilian applications. Hangzhou-based Zhiyuan Research Institute, affiliated with China North Industries Group, the country’s largest defence contractor, launched the robot, dubbed Xiaoyuan, on Friday at the China Care and Rehabilitation Expo in Beijing. Equipped with wheels for smooth...

AI economics: rise of machines’ token use could work to advantage of Chinese models

The global artificial intelligence boom recently crossed a landmark threshold: autonomous agents now consume more than five times as much data as human users, triggering a surge in processing costs that is giving lower-priced Chinese models a competitive edge, according to analysts. Unlike traditional chatbots that simply respond to human prompts, these agents operate independently to execute multi-step workflows, such as writing software, conducting research or managing business operations. A...

Why less visibility into how OpenAI’s new GPT-6 Astra ‘thinks’ is sparking safety concerns

OpenAI’s new model, GPT-6 Astra, has less direct visibility into how a model thinks, a development that has sparked concerns coming just weeks after the Hugging Face hacking incident that required a Chinese open model to investigate, according to analysts. When announcing Astra on Thursday, OpenAI said it was “the world’s most intelligent and aligned model,” with a “significant jump in cyber capabilities”. OpenAI president Greg Brockman said at the end of a press call announcing Astra’s arrival...

US-China AI agreement, G20 trade spat, inflation data

The United States and China joined other G20 nations in supporting light-touch regulation for artificial intelligence (AI) this week, creating rare agreement between the tech rivals and a potential foundation for further discussions ahead of an upcoming presidential summit. G20 nations agreed to adopt sector-specific rules for AI and avoid creating new AI regulators at a meeting in North Carolina. The Carolina Principles also call for close cooperation between governments and developers in...

Apple poised to unveil most expensive iPhone yet, fuelled by memory price surge

Apple’s next flagship smartphone, the iPhone 18 Pro, could cost as much as US$1,319 for the base configuration as skyrocketing memory costs push smartphone prices to record highs, according to a recent report. Prices for the new iPhone line-up were projected to rise by 10 to 20 per cent, driven by soaring memory costs, market research firm TrendForce said in a report released on Thursday. Compared with the baselines of US$1,099 for the iPhone 17 Pro and US$1,199 for its Pro Max variant,...

Debunking the ‘Tina’ doctrine: Nomura warns AI-driven rally masks US vulnerabilities

The artificial intelligence boom has signalled growing risks in the US economy and capital markets, with a setback in the technology rally potentially triggering a sharp correction in US assets and weakening the dollar, according to a Nomura report. “The AI boom has masked a rising US risk premium,” Nomura analysts led by Rob Subbaraman said in a report on Thursday, warning that the concentration of global savings in US dollar assets had left investors increasingly exposed to a reversal in the...

How China Works author on the data economy, robots and AI

Lan Xiaohuan is a professor of economics at China Europe International Business School. His book, How China Works: An Introduction to China’s State-led Economic Development, has sold millions of copies in China and has been translated into multiple languages. Here, he discusses the economic realities behind China’s record trade surplus, the case for a stronger social safety net, and how public data infrastructure shapes the artificial intelligence race with the United States. SCMP Plus readers...

China’s robot revolution may not arrive in the way you expect

China’s robots have become skilled at commanding a stage. At last month’s World Robot Conference in Beijing, humanoids sorted parcels, packed phones and performed household chores. Unitree Robotics, whose machines can run, dance and perform martial arts, made an equally dramatic entrance on the Shanghai stock market, closing its first day of trading at more than five times its offer price. The spectacle is real, and so is the engineering achievement behind it. However, this can obscure a more...

Moonshot AI – creator of Kimi K3 model – has filed for Hong Kong IPO: sources

Chinese artificial intelligence start-up Moonshot AI – developer of the leading Kimi K3 model – has confidentially filed for an initial public offering in Hong Kong, according to two people with knowledge of the matter, as the firm seeks to tap public markets to fund its rapid expansion. The Beijing-based company was targeting a Hong Kong listing as early as the first quarter of 2027, the sources told the South China Morning Post, asking not to be identified as the information was private. The...

Are Z.ai and MiniMax heading down opposite financial paths months after Hong Kong IPOs?

When two of China’s leading AI pioneers went public in Hong Kong in January, they pitched investors on a shared promise: capturing the explosive demand for artificial intelligence at home and abroad. Their first-half earnings, however, suggest that narrative could be splintering into two different trajectories. While Beijing-based Z.ai, also known as Zhipu AI, is winning over market analysts on the back of surging revenue and top-tier model performance, its Shanghai rival MiniMax is facing...

ByteDance to expand massive AI data centre cluster in Inner Mongolia, source says

TikTok parent ByteDance is seeking to expand its computing capacity by building out more data centres in north China’s Inner Mongolia autonomous region in the next two years, according to a person familiar with the matter, another example of a Chinese tech giant stepping up its investments in artificial intelligence infrastructure. The company had been in preliminary talks with local data centre vendors to add between five and six gigawatts’ worth of compute in the city of Ulanqab, the person...

Tech Life

AI can only communicate in languages that it's been trained on.

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The government agency that's encouraging high-risk and high-reward research.

Tech Life

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