Technology

Chinese industrial associations have issued a strong warning to domestic companies, advising them to exercise caution when purchasing U.S. chips due to escalating trade tensions and recent export controls imposed by the United States. 

All three major U.S. stock indexes closed higher on Wednesday, driven by strong gains in the technology sector. This uptick helped offset investor disappointment following a morning inflation report that dampened hopes for a significant interest rate cut by the Federal Reserve next week.

Huawei is reportedly developing a new AI chip, the Ascend 910C, designed to compete directly with Nvidia’s high-performance GPUs in the Chinese market. This development is a strategic response to growing tensions and trade restrictions between the U.S. and China. 

Chip stocks have faced significant declines recently, largely driven by geopolitical tensions and political statements from former U.S. President Donald Trump

Apple will make its tap-and-go payment technology available to competitors, complying with demands from EU regulators, even as EU antitrust chief Margrethe Vestager expressed ongoing concerns about the company’s adherence to broader tech regulations.  

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