Alibaba launches powerful AI chip to challenge Nvidia dominance in China

Alibaba has introduced its most advanced artificial intelligence chip to date alongside a new large language model, signaling a stronger push to reduce China’s reliance on foreign semiconductor technology. The announcement took place at the company’s annual cloud summit in Hangzhou, where the group outlined a broader strategy to......

AI financing drives record surge in U.S. convertible bond issuance

The rapid expansion of artificial intelligence is fueling a sharp increase in U.S. corporate financing activity, particularly in the convertible bond market, where companies are raising record levels of capital. Convertible bonds, which can be converted into company shares under certain conditions, have become increasingly attractive amid......

Qatar says Strait of Hormuz remains closed to normal shipping traffic

Qatar’s foreign ministry has stated that maritime traffic through the Strait of Hormuz has not returned to normal levels, rejecting suggestions that the strategic waterway is reopening. The announcement highlights continued disruption in one of the world’s most critical energy corridors, where only limited vessel movements have......

Bulgaria requests US visa-free travel for its citizens, says prime minister

The Prime Minister of Bulgaria, Rumen Radev, has stated that he raised the issue of visa-free travel for Bulgarian citizens during a phone conversation with U.S. President Donald Trump. The discussion comes as Sofia continues efforts to strengthen bilateral relations with Washington and secure easier mobility for its nationals. According......

Hyundai recalls over 54,000 vehicles in the US due to fire risk

Hyundai Motor Company is recalling more than 54,000 vehicles in the United States following concerns over a potential fire risk linked to hybrid system overheating, according to the National Highway Traffic Safety Administration (NHTSA). The recall affects certain 2024–2026 Elantra Hybrid models. Authorities stated that excessive electrical......

Google unveils new connected glasses featuring AI assistant Gemini

Google has introduced its latest smart glasses, marking a renewed attempt to enter the wearable technology market after the failure of Google Glass more than a decade ago. The new device, revealed during the company’s annual Google I/O event in California, is expected to launch in the fall. The glasses are equipped with a microphone,......

Oil market faces panic risk if Hormuz closure extends into June

HFI Research warned that global oil markets could enter a period of “real panic” if the Strait of Hormuz remains closed into the first week of June, as crude inventories continue falling toward critical operational levels and countries accelerate emergency stockpiling efforts. The firm said the market may already have crossed a......

China defends rare earth export controls and signals cooperation with the United States

The government of China has reaffirmed that its export controls on rare earth minerals are legal and in line with national regulations, while also expressing willingness to cooperate with the United States on what it described as “reasonable concerns.” The statement was issued by China’s Ministry of Commerce amid ongoing......

Jensen Huang says he would not build Nvidia again today

Jensen Huang, cofounder and chief executive of Nvidia, said he would not launch the company again if given the chance, describing the emotional and personal cost of building what has become the world’s most valuable publicly traded company. The remarks were made during a recent episode of the podcast How I Built This hosted by Guy Raz. Asked......

Taiwan vows to defend sovereignty amid uncertainty over US support

Taiwanese President Lai Ching-te said Wednesday that the future of Taiwan “cannot be decided by external forces,” reaffirming his government’s commitment to defending the island’s sovereignty and democratic system during remarks marking the second anniversary of his inauguration. The speech came at a moment of rising......

Bitcoin whale wallets hit 20,229 as price slips below $80,000

Bitcoin traded in a volatile range between 76,000 and 78,000 dollars after repeated failures to break above its 200-day moving average near 82,000 dollars. The rejection at this technical level has reinforced short-term uncertainty among traders and kept the market locked in a narrow consolidation zone. Market participants view the 82,000-dollar......

Gold falls to six-week low as US yields rise

Gold prices declined to their lowest level in six weeks as rising US Treasury yields and a stronger dollar reduced demand for non-yielding assets. The metal traded near 4,540 dollars per ounce after extending a month-long correction that has erased roughly 6 percent of its value. The downturn reflects shifting expectations around United States......

Asia-Pacific airlines face collapse risk as fuel costs double

The Asia-Pacific aviation sector is under severe financial strain as fuel costs surge, prompting warnings that weaker carriers could face collapse if conditions persist. The Association of Asia Pacific Airlines cautioned on Tuesday that jet fuel prices have doubled, creating what it described as a critical threat to airline stability across......

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